Changing Aspects of Entrepreneurship: Post COVID-19 Case Studies from Visakhapatnam and Udaipur

Authors

  • Aparna Yerramilli
  • Hemant

Keywords:

Entrepreneurship, socioeconomic development, COVID-19, strategy, small and marginalized workers, psychosocial impacts, urban poverty, reconstruction, livelihoods

Abstract

The new decade holds much promise, especially in terms of socio-economic development and the development of the urban poor. The pandemic has shaken deep-rooted beliefs about a safe socio-economic condition for people around the world. Hardest hit were the semi-skilled workers, marginal workers and small business owners who today struggle to earn and survive every day. It threw life off the beaten track, sending them into a vortex of socio-economic unrest and despair. We trying to find out how we are been dealing with the challenges. This study also aims to understand how these entrepreneurs and workers have met the challenges and adapted to the paradigm shift in how they do business successfully. The psychosocial impact of the pandemic cannot be ruled out, which will undoubtedly affect urban poverty; and changes in entrepreneurial business dynamics are also an important part of the study. How these semi-educated entrepreneurs have dealt with and adapted to rapid change is also at the heart of this study. This article analyses the impact of COVID-19 on marginalized small businesses and also elicits their stories in the form of small case studies. It also focuses on how these entrepreneurs deal with the difficult financial situations caused by COVID-19 for their businesses.

References

World Economic Forum. (2020 Jun 19). Discovering the real impact of Covid 19 on Entrepreneurship. [Online]. https://www.weforum.org/agenda/2020/06/how-covid-19-will-change-entrepreneurial-business

Mckinsey & Co. The Next Normal: The future of business: Reimaging 2020 and Beyond. [Online]. https://www.mckinsey.com/featured-insights/the-next-normal/business-in-2020-and-beyond.

Korber S, McNaughton RB. Resilience and entrepreneurship: a systematic Literature review. Int J Entrep Behav Res. 2018; 24(4): 1129–1154.

Liu Y, Lee JM, Lee C. The challenges and opportunities of a global health crisis: the management and business implications of COVID-19 from an Asian perspective. Asian Bus Manag. 2020; 19(3): 277–297.

Linnenluecke MK, McKnight B. Community resilience to natural disasters: the role of disaster entrepreneurship. J Enterp Communities: People and Places in the Global Economy. 2015; 11(1): 166–185.

Monllor J, Murphy PJ. Natural disasters, entrepreneurship, and creation after destruction: A conceptual approach. Int J Entrepreneurial Behav Res. 2017; 23(4): 618–637.

Mckinsey & Co. (2020 Jun 22). The Vision for 2025: Hyperpersonalized care and ‘care of one’. [Online]. https://www.mckinsey.com/business-functions/operations/our-insights/the-vision-for- 2025-hyperpersonalized-care-and-care-of-one

Akula SC, Singh Pritpal. Impact Of Covid-19 On Entrepreneurship: A Systematic Literature Review. Int J eBusiness eGovernment Stud. 2021; 13(1): 1–22.

Marie-France Derderian. (2020 Aug 8). What are the impacts-covid-19-on-entrepreneurship. [Online]. https://www.glion.edu/magazine/impacts-covid-19-on-entrepreneurship/#:~:text=Those%20entrepreneurs%20in%20COVID%2Dimpacted,around%2080%25%20of%20its%20value.

Chris Bradley, Martin Hirt, Sara Hudson, Nicholas Northcote, Sven Smit. (2020 Jul 14). The Great Acceleration. [Online]. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/the-great-acceleration

Published

2023-02-03

How to Cite

Yerramilli, A. ., & Hemant. (2023). Changing Aspects of Entrepreneurship: Post COVID-19 Case Studies from Visakhapatnam and Udaipur. NOLEGEIN- Journal of Entrepreneurship Planning, Development and Management, 5(2), 20–32. Retrieved from https://mbajournals.in/index.php/JoEPDM/article/view/969