Survival strategies of SMEs amidst the COVID-19 pandemic: application of SEM and fsQCA

Purpose As a global pandemic, the COVID-19 crisis has profoundly affected the development of local firms, threatening the survival of small and medium enterprises (SMEs). This study aims to present an integrated framework by investigating the impact of strategic tools (i.e. firms’ capability of business agility, marketing operational efficiency, optimisation of innovation capability [OIC], managing employees’ satisfaction and rethinking customers’ experience) on the survival strategies of SMEs amidst the COVID-19 pandemic. Design/methodology/approach The current study used data from managers of SMEs and conducted an asymmetrical analysis (i.e. structural equation modelling [SEM]) to investigate the factors influencing the survival strategies of SMEs amidst the COVID-19 pandemic. This study also applied an asymmetrical approach (i.e. fuzzy sets qualitative comparative analysis-fsQCA) to explore the causal recipes and analysis of the necessary conditions to identify the factors required to achieve the expected outcome. Findings Results from SEM support all hypotheses. Results from fsQCA with the same data set show that firms’ business agility and OIC are necessary conditions for SMEs’ survival strategies. The result from fsQCA also reveals multiple sufficient conditions to succeed SMEs’ survival strategies amidst the COVID-19 pandemic. Practical implications Findings prescribe how SMEs adapt to this vulnerable business condition by applying the strategic tools and recipes suggested for survival. Originality/value This research applied an innovative analysis to reveal necessary and sufficient conditions that conventional methods such as SEM have limited power. This pioneering research in the context of the COVID-19 pandemic is considered novel in terms of the prescriptive strategic recipes offered to SMEs to adapt to and survive in the crisis caused by COVID-19.

Managing Consumerization of Personal Cloud Storage: A New Zealand Perspective

<p>Employees‟ behavior of using personal cloud storage at the workplace might put corporates at risk. This trend has been happening globally and known as consumerization of personal cloud storage. This research reports on the state of this trend in New Zealand corporates. A mixed methods approach was employed with data collection through online anonymous surveys and an online focus group. It was found that personal cloud storage prevails widely throughout the corporates involved in the study. In light of earlier studies in IT consumerization and recent market researches on personal cloud storage, this study identifies many drivers, benefits and challenges of IT consumerization which remain significant in personal cloud storage consumerization, and additionally divulges new factors not previously surfaced in prior literature and publications. The results reveals that its challenges far outweigh its benefits and that the driving forces born within organizations are as considerably significant as those in the external environment. Resulting corporate risks such as security, support, regulatory obligations, data governance and policies are top-critical amongst other challenges with which corporates have to confront. Regardless of those challenges, corporates might gain several benefits, namely employee engagement, productivity, business agility and cost benefits to some extent.</p>

Managing Consumerization of Personal Cloud Storage: A New Zealand Perspective

<p>Employees‟ behavior of using personal cloud storage at the workplace might put corporates at risk. This trend has been happening globally and known as consumerization of personal cloud storage. This research reports on the state of this trend in New Zealand corporates. A mixed methods approach was employed with data collection through online anonymous surveys and an online focus group. It was found that personal cloud storage prevails widely throughout the corporates involved in the study. In light of earlier studies in IT consumerization and recent market researches on personal cloud storage, this study identifies many drivers, benefits and challenges of IT consumerization which remain significant in personal cloud storage consumerization, and additionally divulges new factors not previously surfaced in prior literature and publications. The results reveals that its challenges far outweigh its benefits and that the driving forces born within organizations are as considerably significant as those in the external environment. Resulting corporate risks such as security, support, regulatory obligations, data governance and policies are top-critical amongst other challenges with which corporates have to confront. Regardless of those challenges, corporates might gain several benefits, namely employee engagement, productivity, business agility and cost benefits to some extent.</p>

Cloud Computing Strategy and Impact in Banking/Financial Services

With recent advances in technology, internet has drastically changed the computing world from the concept of parallel computing to distributed computing to grid computing and now to cloud computing. The evolution of cloud computing over the past few years is potentially one of the major advances in the history of computing. Unfortunately, many banks are still hesitant to adopt cloud technology. New technologies such as cloud and AI will have the biggest impacts on the banking industry. For banks and credit unions wanting to achieve greater business agility, cloud technology enables organizations to respond instantly to changing market conditions, leveraging data and applied analytics to achieve customer experience and operational productivity benefits. As a result, cloud computing comes in to provide a solution to such challenges making banking a reliable and trustworthy service. This paper aims at cloud computing strategy, impact in banking and financial institutions and discusses the significant reliance of cloud computing.

Increasing business agility

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Agile firms are better equipped to navigate challenges in today’s unpredictable business environment. Developing specific IT capabilities can help strengthen the different agility aspects and increase competitiveness. 10; 10; Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

How “Dynamic CEOs” outperformed by adopting a transformation mindset

Purpose The recent IBM Institute for Business Value CEO survey of 3,000 chief executives globally offers insight into CEO attitudes and behaviors in order to discern the strategies and actions most highly correlated to successful digital transformation and performance. Design/methodology/approach The IBM Institute for Business Value, in collaboration with the Oxford Economics, surveyed 3,000 CEOs and senior public sector executives between September and November 2020. The analysis identified a group of CEOs whose outlook on transformation and success with digital implementation sets them apart from others. Findings These Dynamic CEOs, who represent 38 percent of all commercial leaders in the IBM IBV research, shared two crucial insights: that traditional business models no longer differentiate their organizations; their organization?s digital transformation journey will never be complete. Practical/implications These Dynamic CEOs are almost 70 percent more likely to lead high performing organizations than other top leaders. Originality/value Almost 90 percent of Dynamic CEOs expect their business and IT investments to deliver a material improvement in business performance over the next three years, with the greatest emphasis on investments in customer experience improvement, decision-making processes and business agility.