This thesis researches the export resilience of Austrian small and medium-sized enterprises engaged in B2B activities, focusing on if and how these enterprises prepare for upcoming crises. The importance of resilience has been displayed by recent global disruptions such as the COVID-19 pandemic, which highlighted the need for proactive strategies and robust planning to navigate unforeseen crises. The pandemic drastically altered common business practices, underscoring the need for adaptation and strategic managerial decisions to avoid bankruptcy. In Austria, SMEs are crucial to the country’s welfare, however, SMEs are particularly vulnerable to crises due to resource scarcity and lack of preparedness. (Gnangnon, 2022) This thesis investigates how SMEs can overcome these restrictions to increase export resilience and prepare for future crises. The research in this paper is guided by the following research questions: Which methodologies are SMEs using to prepare for the next crisis scenario? Do Austrian SMEs focused on international trade and export actively prepare for future crisis scenarios? What necessary actions and behaviours should SMEs consider to be export-resilient for the next crisis? The thesis applies a dual-research approach, integrating a literature review with qualitative data from seven expert interviews across various industries. The interviews provide practical perspectives on maintaining a strong financial base, investing in innovation, and fostering a resilient organizational culture. Key findings of the study show that financial stability is crucial for SMEs. Also, financial planning, maintaining a strong equity base, and monitoring key performance indicators ensures operational efficiency and resilience. Further, diversification is critical, with a broad customer base and diversified product portfolio being essential for spreading risk and ensuring stability. Effective internal and external communication strategies are vital for managing crises and maintaining customer and supplier relationships. Although recognized as beneficial, formal frameworks like scenario planning are underutilized due to resource constraints. In conclusion, Austrian B2B SMEs exhibit moderate preparedness for crises, with significant room for improvement in adopting structured resilience methodologies. Key strategies include maintaining financial reserves, diversifying customer bases, investing in technology, and fostering a resilient organizational culture. The main limitations were sample size and the geographical and industrial focus. Future research can build on this paper an explore differences between industries, as well as compare B2B and B2C company behaviours. It is also possible to address the limitations of this paper and focus on a larger geographical area, as well as sample size by utilising surveys.
Export resilience: Developing a theoretical framework including managerial recommendations for Austrian B2B SME’s preparing for the next crises
Kaufmann, D. (Author). 2024
Student thesis: Bachelor's Thesis