This research develops a framework that combines crisis stages, stakeholder engagement, and crisis challenges. The framework is applied to small firms in Macao during the 2019 novel coronavirus disease (COVID-19) pandemic crisis. We conduct a qualitative study based on semi-structured interviews with the leaders of six small firms in Macao. The findings suggest that the COVID-19 pandemic has turned into a “normal” context, which blurs the traditional crisis termination stage. We also find that participating firms engage more with internal stakeholders than external ones. The strategies adopted by small firms include flexible human resource (HR) practices, cost reduction, enhancing customer relations, and using government support schemes. These strategies are effective in the short term; firms need to pay attention to diversity and learning for the long term.

这项研究开发了一个结合危机阶段、利益相关者参与和危机挑战的框架。该框架适用于2019年新型冠状病毒病（COVID-19）大流行危机期间澳门的小企业。我们基于对澳门六家小企业领导人的半结构化访谈进行了定性研究。研究结果表明，COVID-19 大流行已转变为“正常”背景，这模糊了传统的危机终止阶段。我们还发现，参与公司与内部利益相关者的互动多于与外部利益相关者的互动。小企业采取的策略包括灵活的人力资源（HR）实践、降低成本、加强客户关系以及利用政府支持计划。这些策略在短期内是有效的；企业需要长期关注多样性和学习。