Assessing the Impacts of COVID-19 on the Restaurant Industry in Developing Countries: Reviews & Lessons
DOI:
https://doi.org/10.47611/jsrhs.v12i3.4927Keywords:
COVID-19,, Small & medium-sized enterprises,, Restaurant industry,, Developing countries,, Business model innovation,Abstract
This paper examines the adaptive strategies employed by small restaurants in developing countries in the face of the unprecedented challenges posed by the COVID-19 pandemic. Drawing lessons from case studies in 4 countries, the research endeavours to distil essential elements that enabled small restaurants to navigate the complexities of the "new normal." In this paper, some frameworks for crisis management are first introduced. Next, critical factors for success are identified in the frameworks to analyse the responses of the restaurant industry in China, Vietnam, and Bangladesh by making Taiwan a successful comparison case. Lastly, some elements of business model innovation are introduced to help small and medium-sized restaurants in developing countries to adapt and grow in the Post-Pandemic era.
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Copyright (c) 2023 Shuchen (Justin) Jia; Howard Geltzer, Bridget Hamill
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