Dynamic capabilities, resulting from activities that allow conscious and skillful modification of a firm’s strategic potential, are seen as one of the key drivers of a firm’s value creation, competitive advantage and above-average performance in changing environments. However, little is known about how dynamic capabilities can shape business survival and performance during crises. The research objective of this paper is twofold. First, through a literature review, we seek to identify which first-order dynamic capabilities–managerial decisions under uncertainty—are vital for rapid response to a crisis. Second, we present the results of research carried out among 151 small and medium-sized companies in Poland immediately after the beginning of the economic lockdown (April 2020). The survey that we developed identifies which dynamic capabilities were essential for businesses to survive during this unexpected black swan event. We also present dependence and regression analyses showing the links between the identified dynamic capabilities and value creation, understood as retaining employees and production levels, as well as value capture, understood as maintaining cash flow and current revenues.

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This paper presents the outcomes of research on managerial decisions that were made as a first reaction to the economic crisis caused by the SARS-Cov-19 virus (the coronacrisis). The research was carried out among 116 companies from the water supply sector operating in Poland that includes water supply and sewage. The results indicate which elements were perceived by managers as key factors for survival and further functioning. It is clear that the most frequent managerial decisions made were reducing investments and sending employees for home office work, as well as prolonging the payment deadlines. Interestingly, investment reductions were accompanied by sustaining the R&D expenses, as the researched organisations desired to stay competitive and innovative right after the crisis. Only a few of the water supply companies decided to make workers redundant, as the majority declared the intent to protect the workforce, e.g. by sending employees on leave. The research has also shown that the companies approached the coronacrisis rather methodologically and systematically, which indicates a good level of managerial decision-making under pressure, overall enterprise preparedness for crisis situations, as well as staff involvement. Based on our research, we offer some recommendations concerning how the water supply sector organisations can prepare for similar crises in the future. Our research indicates that the decisions made had the following goals in mind: protecting workforce and sustaining cash flow, as well as securing competitive position after the crisis. Our research also focuses on the necessary decisions to be made in water supply companies before next crises.

W obliczu nagłych zjawisk kryzysowych kadra zarządzająca często działa w pośpiechu i podejmuje nieplanowane decyzje w celu ochrony przedsiębiorstwa przed negatywnymi skutkami kryzysu. Również kryzys związany z wybuchem epidemii koronawirusa i zamknięciem większości sektorów zmusił przedsiębiorstwa do poszukiwania szybkich sposobów radzenia sobie w trudnym czasie. Artykuł przedstawia badania dotyczące pierwszych reakcji i decyzji menedżerskich podjętych po zamknięciu polskiej gospodarki, ze wskazaniem, które z nich okazały się najbardziej istotne dla przetrwania przedsiębiorstw. Na początku opracowania zaprezentowano podstawy teoretyczne, w których opisano, jakie działania podejmowane były w przedsiębiorstwach na świecie w czasie poprzednich kryzysów. Pozwoliło to na zidentyfikowanie listy najczęstszych decyzji i przygotowanie kwestionariusza. Następnie przedstawiono wyniki badań ankietowych przeprowadzonych wśród kadry zarządzającej 178 przedsiębiorstw w Polsce wskazujących, jakie decyzje były podejmowane najczęściej i które z nich postrzegano jako warunkujące przetrwanie.

Inspirację do podjęcia problematyki zarządzania zasobami wodnymi w nakreślonym niżej kształcie stanowiło przeświadczenie autorów o potrzebie zintensyfikowania debaty dotyczącej rozstrzygania problemów związanych z zasadami i sposobami alokacji tych zasobów do różnych zastosowań, w warunkach rosnącego ryzyka ich nadmiernej eksploatacji lub całkowitego zużycia, a w konsekwencji do usprawnienia systemu dostarczania i wykorzystywania wody. Celem opracowania jest identyfikacja i ocena dylematów związanych z rozwiązaniami proponowanymi na gruncie nauk ekonomicznych, zredukowanych do dwóch dyscyplin zajmujących się alokacją zasobów, ekonomii oraz nauk o zarządzaniu, w obrębie których nie wszystkie problemy zostały jednoznacznie ujęte i rozwiązane. Artykuł zawiera rozważania prowadzone na różnych poziomach analizy – od problemów o charakterze globalnym, poprzez kwestie makroekonomiczne w skali kraju, aż do poziomu przedsiębiorstw działających w sferze zaopatrzenia w wodę. Stanowi więc próbę połączenia kwestii poznawczych, osadzonych w znanych koncepcjach teoretycznych, z zagadnieniami o charakterze bardziej praktycznym. Na tle nakreślonych we wstępie przesłanek i założeń, zaprezentowane zostały bariery dostępu do zasobów wodnych. W kolejnej części, będącej swego rodzaju pomostem między warstwą teoretyczną a aspektami praktycznymi, znalazły się rozważania dotyczące ogólnych rozwiązań regulacyjnych obowiązujących w gospodarce. Następnie przedstawione zostały warunki i zasady skutecznego zarządzania zasobami wodnymi oraz wybrane dylematy związane z funkcjonowaniem przedsiębiorstw wodociągowych w Polsce. W zakończeniu znalazły się wnioski i postulaty wypływające z przeprowadzonych analiz, odnoszące się zarówno do sfery poznawczej, jak i praktycznej.

PurposeThe purpose of this paper is to analyze the leadership decisions taken during the crisis and their influence on the goals recognized by managers as crucial for surviving.Design/methodology/approachDuring the survey, conducted in April 2020 (one month after the first economic lockdown in Poland), as part of a research project called Sur(VIR)val – Survival during the virus, data was collected from 178 leaders from randomly selected companies from Poland using the CAWI method. Ordered logistic regression modeling was used to examine the impact of the decisions taken by company leaders on the goals seen by leaders as most important for company survival.FindingsThe results obtained in the study show that during the first Covid-19 lockdown in 2020, leaders made decisions that can be seen as oriented toward survival and continuity. Changing to remote working, extending payment deadlines for customers, as well as selective employment reduction turned out to have the greatest influence on strategic support for maintaining current production levels and retaining competent employees in order to survive the crisis.Research limitations/implicationsThis study has certain limitations. First, the list of leadership decisions and company goals used as dependent variables is not exhaustive. Second, the selection of business goals oriented toward survival may not derive directly from the lockdown situation. Third, our study did not measure the actual accomplishment of the company goals, but the managerial perceptions as to which ones are crucial for company survival during crises, and which of them should be given strategic support respectively. Fourth, the research sample was randomly constructed and covered only business organizations in Poland. Fifth, the hypotheses were formulated in a way that treated leadership decisions as one construct. Finally, we used survey, with a scale measuring managerial perceptions.Practical implicationsLeaders should ensure that proper IT tools are developed within the organization, and that the skill level of employees is high enough for fast shifting employees on to remote working. At the same time, it is important to maintain IT infrastructure at a high level. In terms of general recommendations for leaders, they should make quick decisions, maintain the most valuable resources of the company (human resources and cash flow) and take actions aimed at taking advantage of opportunities (R&D) during and after the crisis.Social implicationsAdditionally, due to the key importance of human resources for the survival of the organization, leaders should respond quickly by making flexible decisions about sending employees on leave and downtime. As human resources are the most valuable assets of the company from the point of view of its survival, decisions concerning employment reduction should be taken carefully. Leaders who acted in panic after the first lockdown and made employees redundant, later on had problems recruiting skilled employees back and strived to return to full organizational capacity.Originality/valueAlthough scholars have investigated leadership decisions and actions taken during economic crises, little is known about how leaders behave when taken by surprise, and what decisions they make when the duration of a crisis is difficult to predict. The results of this study show which leadership decisions during the first Covid-19 lockdown in 2020 influenced prioritizing critical company goals oriented toward survival.

Water utilities are an essential service that helps protect public health during crises. The Covid-19 pandemic revealed that crisis preparedness is a crucial capability that water utilities must possess. The purpose of this paper is to identify managerial actions and responses that were undertaken by water utility managers in order to reduce the risk related to the first economic lockdown caused by the unexpected Covid-19 crisis. As water utilities should learn from Covid-19 so as to strengthen their future risk preparedness, the paper offers some theoretical underpinnings on risk management. As a result of literature analysis, we focus on the risk management framework that distinguishes five types of risk. The survey was carried out among 116 waterworks in Poland in April 2020. The results indicate the importance of minimising liquidity risk and supply chain risk, which is relevant to the adopted theoretical framework. The findings also highlight the importance of a category that was not originally included in the research model – that is human resource risk, an area that requires managerial attention in the water utility sector. The results could also provide useful pointers for other water utilities, especially those operating in the same or similar legislative regime.

This paper seeks to identify organisational abilities that influence the company’s survival during crises. To address this issue, first–through literature review–we identified five groups of crucial organisational abilities that companies pursue during the crisis, i.e., strategic, technological, collaboration, entrepreneurial and relational. We have also identified four objectives that relate to surviving the crisis. Next, we have scrutinised 226 companies from two sides of the world, Poland (Europe) and Morocco (Africa), during the Covid-19 crisis. Quantitative analysis using Structural Equations Modelling demonstrated that surviving during a crisis depends mostly on strategic and entrepreneurial abilities such as the ability to shift resources quickly, organise the work in the firm effectively and plan strategically, as well as diversify its products and services perceived as critical.