Methodological Approaches to Strategic Management of Small and Medium-sized Businesses in the Context of the Negative Impact and Continuing Nature of the COVID-19 Pandemic

Liudmila Filobokova, I. Bogatyrev Sergey

2021

Abstract

The COVID-19 pandemic is a protracted process that has a negative impact on the development of the world economic system and all its constituent elements. A high level of such influence is observed in small and medium-sized businesses, which, due to their distinctive features, are most susceptible to the influence of external factors. Changing the priority of buyers, shifts towards essential goods and the use of digital technologies, a decrease in the purchasing power of the population, the need for flexible pricing and cost management as living conditions, predetermine the need to adapt strategic management, which is often denied by the founders and leaders of small and medium-sized enterprises. Methodological support of strategic management of the SME sector acquires scientific and practical value when using non-formalized approaches based on expert assessments for a long time lag. The purpose of the study is to develop and substantiate the methodological support of strategic management of SMEs in the context of COVID-19, achieved by solving such problems as: identification of key success factors (KSF) of SMEs; modification of the methodological support of PESTEL - analysis of environmental factors; adaptation to the conditions of SME functioning, methodological support, analytical tools, M. Porter’s five competitive forces. Approbation (testing) of methodological support allows it to be extrapolated to the practice of strategic management of SMEs in Russia.

Paper Citation

in Harvard Style

Filobokova L. and Sergey I. (2021). Methodological Approaches to Strategic Management of Small and Medium-sized Businesses in the Context of the Negative Impact and Continuing Nature of the COVID-19 Pandemic. In Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV, ISBN 978-989-758-617-0, pages 119-125. DOI: 10.5220/0011111600003439

in Bibtex Style

@conference{rtcov21,
author={Liudmila Filobokova and I. Bogatyrev Sergey},
title={Methodological Approaches to Strategic Management of Small and Medium-sized Businesses in the Context of the Negative Impact and Continuing Nature of the COVID-19 Pandemic},
booktitle={Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV,},
year={2021},
pages={119-125},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011111600003439},
isbn={978-989-758-617-0},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Scientific and Practical Conference "COVID-19: Implementation of the Sustainable Development Goals" - Volume 1: RTCOV,
TI - Methodological Approaches to Strategic Management of Small and Medium-sized Businesses in the Context of the Negative Impact and Continuing Nature of the COVID-19 Pandemic
SN - 978-989-758-617-0
AU - Filobokova L.
AU - Sergey I.
PY - 2021
SP - 119
EP - 125
DO - 10.5220/0011111600003439