RESUMEN
This study proposes a novel typology of adaptation to hazards-a conversion strategy as a countermeasure to manage risks in interconnected supply chains. Conversion strategies are intended to transform one or multiple supply chain functions for a different one to manage the changing environment. Supply chain disruptions due to natural hazards have been researched in key manufacturing-based economies like Thailand, the US, Japan, and China. Limited studies, however, have looked at the nature of interconnected risks and its effective countermeasures that arise when the COVID-19 pandemic disrupt supply chains. Here, we examine systemic risks by contrasting supply chain disruptions caused by natural hazards and the pandemic. Our study investigates whether businesses can manage systemic risks brought on by the pandemic by learning from dealing with disruptions caused by natural hazards. We offer a typology of conversion strategies to demonstrate how conversion strategies can be a successful response to pandemic scenarios. Specifically, we propose six conversion types: production location, production line, storage, usage, distributional channel, and workforce skill set. Then, we conclude with the future research directions as well as the kinds of policy supports required to assist businesses in implementing conversion measures by drawing on prior work addressing natural hazards.
RESUMEN
The COVID-19 pandemic has fundamentally impacted the restaurant and bar industry. Simultaneously, this industry is already undergoing structural change. Using the concept of organisational resilience, we analyse the impact of the COVID-19 crisis on owner's assessment of resilience in the German restaurant and bar industry. Findings from an online survey with 623 owners and managers show that ex-ante business problems, and financing by loans or credit, reduce the likelihood of owners perceiving their business as resilient; while, delivery and takeaway service, ownership of property and higher age of owners, increase the likelihood of enterprise resilience. The paper contributes to understanding how restaurants and bars absorb and cope with the COVID-19 crisis. Furthermore, we make recommendation for future research on the recovery and adaptability of the business sector.