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Resilience on the Menu: How MSME restaurants overcome adversity and crisis

Svensson, Stina LU and Eklund, Molly LU (2024) ENTN19 20241
Department of Business Administration
Abstract
The restaurant industry, known for its volatile and risky nature, faces unique challenges in maintaining resilience. This study explores how micro and small to medium-sized enterprises (MSMEs) in the Swedish restaurant industry manage to survive during periods of crisis and adversity. By investigating the concepts of crisis management and business resilience in relation to MSMEs, this study provides valuable insights into the actions and methods taken by restaurant owners, founders, and managers. This thesis uses a qualitative approach, and the collection of data is made through semi-structured interviews with 11 participants within the area of food trucks, lunch restaurants, Cafés, bars, and restaurants. The collected data is analyzed... (More)
The restaurant industry, known for its volatile and risky nature, faces unique challenges in maintaining resilience. This study explores how micro and small to medium-sized enterprises (MSMEs) in the Swedish restaurant industry manage to survive during periods of crisis and adversity. By investigating the concepts of crisis management and business resilience in relation to MSMEs, this study provides valuable insights into the actions and methods taken by restaurant owners, founders, and managers. This thesis uses a qualitative approach, and the collection of data is made through semi-structured interviews with 11 participants within the area of food trucks, lunch restaurants, Cafés, bars, and restaurants. The collected data is analyzed with thematic analysis resulting in six aggregated dimensions that contribute to increased business resilience: Bootstrapping, Business development, Increase price margin, Relationship retainment, Adaptive resilience prerequisites, and Proactive measures. This research emphasizes the importance of financial resilience, customer loyalty, and a proactive mindset in overcoming external challenges and adversity. Two conceptual frameworks are developed showcasing the active adversity management strategies utilized by MSME restaurants and the importance of possessing adaptable prerequisites and proactive measures when met with adversity. (Less)
Please use this url to cite or link to this publication:
author
Svensson, Stina LU and Eklund, Molly LU
supervisor
organization
course
ENTN19 20241
year
type
H1 - Master's Degree (One Year)
subject
keywords
Crisis Management, Resilience, Adversity, Crisis, Restaurant Industry, MSME
language
English
id
9167738
date added to LUP
2024-06-24 15:48:27
date last changed
2024-06-24 15:48:27
@misc{9167738,
  abstract     = {{The restaurant industry, known for its volatile and risky nature, faces unique challenges in maintaining resilience. This study explores how micro and small to medium-sized enterprises (MSMEs) in the Swedish restaurant industry manage to survive during periods of crisis and adversity. By investigating the concepts of crisis management and business resilience in relation to MSMEs, this study provides valuable insights into the actions and methods taken by restaurant owners, founders, and managers. This thesis uses a qualitative approach, and the collection of data is made through semi-structured interviews with 11 participants within the area of food trucks, lunch restaurants, Cafés, bars, and restaurants. The collected data is analyzed with thematic analysis resulting in six aggregated dimensions that contribute to increased business resilience: Bootstrapping, Business development, Increase price margin, Relationship retainment, Adaptive resilience prerequisites, and Proactive measures. This research emphasizes the importance of financial resilience, customer loyalty, and a proactive mindset in overcoming external challenges and adversity. Two conceptual frameworks are developed showcasing the active adversity management strategies utilized by MSME restaurants and the importance of possessing adaptable prerequisites and proactive measures when met with adversity.}},
  author       = {{Svensson, Stina and Eklund, Molly}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Resilience on the Menu: How MSME restaurants overcome adversity and crisis}},
  year         = {{2024}},
}