Purpose

The purpose of this study is to build an understanding of how firms operate under the COVID-19 crisis. Specifically, the study examines the significance of firms’ survival for their surrounding community, business–community relations during this severe situation and factors helping firms address this unprecedented challenge. The conceptual tenets of stakeholder theory are considered.

Design/methodology/approach

A qualitative data collection approach was selected, with face-to-face and online interviews undertaken with owners and managers of 33 firms operating in Singapore.

Findings

Firstly, while survival during the current unprecedented crisis is perceived to be most important for the firms’ employees, owners/managers also perceive domino effects on other companies working alongside the participating firms, as well as effects on clients and suppliers. Secondly, increased collaboration with industry, stronger partnerships with suppliers and business partners and closer relationships with staff are highlighted during the crisis. Thirdly, key factors helping firms’ survival in the initial year of the crisis included: a clear goal; a cohesive/nimble staff team; reinventing, adapting and being resilient; and family support and management support.

Originality/value

This study contributes empirically and conceptually to the literature on firm adaptation and firm–community relationships during a severe crisis. Empirically, the findings and related dimensions provide practical guidance concerning the interdependence between firms and their stakeholders. Conceptually, the inductive analysis, which enabled the development of a theoretical framework, illustrates the relationships between the study’s emerging dimensions and those predicated by stakeholder theory, namely, the descriptive, instrumental, normative and managerial.

中文翻译：

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COVID-19 时代的企业及其社区：利益相关者理论方法

目的

本研究的目的是了解公司在 COVID-19 危机下的运作方式。具体而言，该研究考察了企业生存对其周边社区的重要性、在这种严峻形势下企业与社区的关系以及帮助企业应对这一前所未有的挑战的因素。考虑了利益相关者理论的概念原则。

设计/方法/方法

选择了一种定性数据收集方法，对在新加坡经营的 33 家公司的所有者和经理进行了面对面和在线访谈。

发现

首先，虽然在当前前所未有的危机中生存被认为对公司员工来说最重要，但所有者/经理也认为对与参与公司一起工作的其他公司产生多米诺骨牌效应，以及对客户和供应商的影响。其次，在危机期间强调了与行业的合作增加、与供应商和业务合作伙伴的更紧密的伙伴关系以及与员工的更密切的关系。第三，帮助企业在危机初期生存的关键因素包括：明确的目标；有凝聚力/灵活的员工团队；重塑、适应和适应力强；以及家庭支持和管理支持。

原创性/价值

这项研究在经验和概念上对有关严重危机期间企业适应和企业-社区关系的文献做出了贡献。从经验上看，研究结果和相关维度为公司及其利益相关者之间的相互依赖提供了实际指导。从概念上讲，促成理论框架发展的归纳分析说明了研究的新兴维度与利益相关者理论所预测的维度之间的关系，即描述性、工具性、规范性和管理性。