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From crisis to opportunity through innovation

dc.contributor.authorMontes, José Orlando
dc.contributor.authorGómez Cruz, Nelson Alfonso
dc.contributor.authorBatz Lineiro, Aglaya
dc.contributor.authorSerrano Cárdenas, Lizeth Fernanda
dc.contributor.authorMora Holguín, Henry
dc.date.accessioned2025-02-25T20:43:31Z
dc.date.available2025-02-25T20:43:31Z
dc.date.issued2024-09-04
dc.identifier.issn2040-8269
dc.identifier.urihttp://hdl.handle.net/10726/5775
dc.language.isoeng
dc.publisherEmerald Publishing Limited
dc.titleFrom crisis to opportunity through innovationeng
dc.typearticle
dc.rights.accessrightsinfo:eu-repo/semantics/restrictedAccess
dc.identifier.localArt002
dc.rights.localAcceso Restringido
dc.type.versioninfo:eu-repo/semantics/acceptedVersion
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.description.abstractenglishPurpose This study aims to explore the strategic decisions at innovation level implemented by firms to thrive and transform themselves during crises. This study also aims to provide insights to answer the question: Why do some firms decide to implement certain types of innovation during a crisis? Design/methodology/approach This research was carried out through a multiple case study involving 22 firms. The methods were implemented in three steps to increase rigor and the replication of the study: identification and selection of cases, data collection through interviews triangulated with online information and analysis based on aggregating themes and finding patterns. Findings In the face of the COVID-19 pandemic, the companies analyzed focused their activities mainly on developing new features or functionalities for their products or services. Most of the firms implemented innovations across nearly all ten categories outlined by Keeley et al. (2013). Many of the implemented innovations involved personalized and superior service enhancements, process efficiency optimizations, channel diversification initiatives and new ways to collaborate to generate value. In general, the main drivers that led firms to decide to implement these innovations include reducing costs, enhancing operational efficiency, generating new revenue streams, augmenting sales and enhancing client relationships. Practical implications This research significantly advances the convergence of innovation, strategy and crisis in three impactful ways. First, it constructs a pragmatic and evidence-based framework, consolidating the primary catalysts, innovation categories and strategies adopted by firms in response to the challenges posed by the COVID-19 crisis. Second, it offers insights for guiding decision-making processes related to innovation, presenting actionable recommendations derived from the study’s findings. Thirdly, this study highlights critical perspectives that can guide governmental intervention, facilitating the formulation of more tailored and effective policies to assist companies during crisis periods. Originality/value This study centers on developing countries, specifically examining Colombian firms, considering their unique characteristics and priorities. Surprisingly, there is a scarcity of studies delving into the innovation and transformation of firms during the COVID-19 crisis in nations sharing cultural, economic and political similarities with Colombia.eng
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.relation.citationvolume47
dc.relation.citationissue9
dc.relation.citationstartpage1441
dc.relation.citationendpage1466
dc.contributor.orcidGómez Cruz, Nelson Alfonso [0000-0001-9594-1441]
dc.contributor.orcidSerrano Cárdenas, Lizeth Fernanda [0000-0002-5419-3843]
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.contributor.scopusMontes, José Orlando [36806524300]
dc.contributor.scopusGómez Cruz, Nelson Alfonso [55106061700]
dc.contributor.scopusBatz Lineiro, Aglaya [57195808394]
dc.contributor.scopusSerrano Cardenas, Lizeth Fernanda [57201859228]
dc.contributor.scopusMora Holguín, Henry [58524689400]
dc.description.orcidhttps://orcid.org/0000-0001-9594-1441
dc.description.orcidhttps://orcid.org/0000-0002-5419-3843
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=36806524300
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55106061700
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57195808394
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57201859228
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=58524689400
dc.relation.ispartofjournalManagement Research Review
dc.identifier.doihttps://doi-org.cvirtual.cesa.edu.co/10.1108/MRR-05-2023-0324
dc.subject.proposalStrategic innovation
dc.subject.proposalCrisis
dc.subject.proposalPandemic
dc.subject.proposalDecision


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