How Business Survive the Covid-19 Pandemic: Insights form Indonesia

Abstract

The current paper aims to identify how businesses in Indonesia respond and adapt in the Covid-19 crisis. It focuses on news reported in publicly available and accessible outlets, i.e., national and regional newspapers, and business magazines. The study draws upon qualitative research approach using an archival study. The empirical case illustrates how firm utilize to flexibility alter its strategy during the pandemic. This paper present four typology of strategy based on level of innovation and their impact that are survival, synchronizing, stretching and shifting in respond to crisis. This research discovers how Indonesia business select and carry out business strategies by exploring the initiatives and innovation of the firms. In the time of crisis Indonesia companies have to choose specific strategy for each of based on their capabilities. Among the limitations, reliance on publicly available and accessible data sources, single country context, exploratory in nature and data sources are mostly published in Bahasa. This research offers contribution to knowledge of flexibility of business strategies in respond to crisis. This paper is supported by Indonesia Endowment Fund for Education (LPDP).

Keywords: Recovery strategies, Covid-19, Indonesia