Dr. Melissa Vasi FRSA

Senior Lecturer in Innovation Management, Entrepreneurship and Digital Strategic Management

Exogenous crisis and the resilience of SMEs: exploring Open Innovation in the COVID-19 pandemic


Journal article


Melissa Vasi, Vincent English
Louis Savenien Dupuis Journal of Multidisciplinary Research, vol. 2, 2023, pp. 9-19


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APA   Click to copy
Vasi, M., & English, V. (2023). Exogenous crisis and the resilience of SMEs: exploring Open Innovation in the COVID-19 pandemic. Louis Savenien Dupuis Journal of Multidisciplinary Research, 2, 9–19. https://doi.org/10.21839/lsdjmr.2023.v2.90


Chicago/Turabian   Click to copy
Vasi, Melissa, and Vincent English. “Exogenous Crisis and the Resilience of SMEs: Exploring Open Innovation in the COVID-19 Pandemic.” Louis Savenien Dupuis Journal of Multidisciplinary Research 2 (2023): 9–19.


MLA   Click to copy
Vasi, Melissa, and Vincent English. “Exogenous Crisis and the Resilience of SMEs: Exploring Open Innovation in the COVID-19 Pandemic.” Louis Savenien Dupuis Journal of Multidisciplinary Research, vol. 2, 2023, pp. 9–19, doi:10.21839/lsdjmr.2023.v2.90.


BibTeX   Click to copy

@article{melissa2023a,
  title = {Exogenous crisis and the resilience of SMEs: exploring Open Innovation in the COVID-19 pandemic},
  year = {2023},
  journal = {Louis Savenien Dupuis Journal of Multidisciplinary Research},
  pages = {9-19},
  volume = {2},
  doi = {10.21839/lsdjmr.2023.v2.90},
  author = {Vasi, Melissa and English, Vincent}
}

Abstract

Open  innovation  is  one  of  the  most  discussed themes  in  managerial  literature.  However,  there  are  still  many  questions  that scholars have  not  yet  answered.  A research  question  of  particular relevance  today  is:  How  can  open  Innovation help  SMEs overcome  and  manage  the  economic  crises  caused  by  a  pandemic?    

In  2020,  a  global  coronavirus  pandemic  (COVID-19) emerged  that  has  damaged  several  sectors,  particularly  by  weakening  the  economy  of  small  and  medium-sized  businesses. This paper addresses this issue by examining the literature available to date and provides a theoretical answer by investigating the  influence  of  open  innovation  on  the  resilience  of  SMEs  during  the  COVID-19  outbreak.  The  paper  shows  that  several companies  have  leveraged  open  innovation  to  address  the  economic  crisis  caused  by  the  pandemic.  Moreover,  open innovation  can  represent  a  winning  strategy  for  SMEs  in  surviving  extremely  uncontrollable  turbulences.  A  collaborative approach  and  an  open  mindset  can  be  the  right  innovative  strategy  for  SMEs  to  overcome  a  crisis  caused  by  unpredictable exogenous factors.




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