Abstract:

Despite the fact that most modern enterprises operate in a dynamic, unstable and uncertain environment, the COVID-19 pandemic has created an additional exogenous shock that has threatened the business continuity of many companies, especially micro and small enterprises. The article focuses on the use of effectuation by small businesses under the specific conditions of pandemic shock. The qualitative research carried out by the author on the basis of five interviews conducted with owners of small businesses from the catering industry shows how entrepreneurs use the logic of effectuation for the survival of their companies. The exogenous shock situation has prompted the surveyed companies to undertake entrepreneurial activities based on all the principles of effectuation (experimentation, affordable loss, flexibility, and pre-commitment) and the exploitation of new opportunities, which in turn has enabled their survival and has ensured the continuity of business activity. The conclusions drawn from the study indicate that there is room for further research on the impact of COVID-19 on the entrepreneurial process, which will allow for the identification of, among others, new forms of support for the post-pandemic entrepreneurial process.