As John F. Kennedy, the 35th president of the USA already mentioned, “when written in Chinese, the word ‘crisis’ is composed of two characters – one represents danger and one represents opportunity.”
In this project, I focus on the impact of crisis situations on consumer behaviour and firm performance. I investigate how firms can be endangered by changes in consumer behaviour as a consequence of crises at the macro-economic level – due to economic downturns, or at the firm/product/service level – due to service crises. However, I also shed light on how firms can use these crises as opportunities for future growth. More specifically, I answer the question whether firms can use investments in innovation to overcome, and even benefit from, macro-economic crises. In addition, I show how firms can best deal with consequences of service crises, and this both for the short and the long run.
The findings of this project should enable firms to continue and increase the creation of value for consumers, thus providing them with better chances for long-run success. This, in turn, will ensure overall economic prosperity and general economic welfare, as healthy economies are built on healthy firms that create value for societies.
Call for proposal
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