
ENTREPRENUERS’ OPERATIONAL RISKS AND SERVICE STRATEGY: A REVIEW DURING PANDEMIC
Author:
Elaine Joy C. Apat, DBA
This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited
The economic impact of the coronavirus disease (COVID-19) is unprecedented and uncertain. No matter the firm, sector, or industry, the pandemic has forced the world to adapt to the current conditions. This paper was focused on the valuation of operational risks and its perceived effects on the service strategy of small and medium businesses in Laguna Province during pandemic. Descriptive type of research and purposive sampling technique were employed with 136 retrieved and treated questionnaires. The self-made questionnaire undertook pilot testing with acceptable to good internal consistency. Data were assessed using tools in statistics such as frequency, rank, mean, weighted mean and anova. The highest weighted mean for the operational risks relative to management is the Untimely management during strategy – setting process in accepting risk. Whereas, in terms of waste identification, High staff turnover, got the highest weighted mean. On the other hand, service strategy was described in moderate performance by the business owners. Management and waste identification in operational risks have significant difference when grouped according to type of service business. Whereas service strategy resulted to have significant differences in business category as to capital, number of employees and type of service business. The findings recommended that Local Government and businesses may create programs that may more greatly assist the industry to fully recover from the effects of the pandemic.
Pages | 37-42 |
Year | 2023 |
Issue | 1 |
Volume | 1 |