The Coronavirus crisis in B2B settings: Crisis uniqueness and managerial implications based on social exchange theory

Roberto Mora Cortez*, Wesley J. Johnston

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

The current Coronavirus crisis is having disastrous effects for most B2B firms around the world. The decline in sales provokes intra-organizational and inter-organizational tension, requiring a new approach for managing firms' business operations. Particularly, the direct threat to human beings places the attention of managers on the individual. This study investigates the main differences between prior “traditional” financial-based crises and the practices that managers can adopt to navigate and survive the Coronavirus crisis from a social exchange theory (SET) view. The authors identify eight crisis-comparative dimensions to consider to successfully prevail: (1) formation, (2) focus, (3) temporality, (4) government jurisdiction, (5) preparedness, (6) normality, (7) business, and (8) operational deployment. In addition, the study results propose four intertwined areas to classify the managerial practices: (1) digital transformation, (2) decision-making processes, (3) leadership, and (4) emotions and stress.

Original languageEnglish
JournalIndustrial Marketing Management
Volume88
Pages (from-to)125-135
ISSN0019-8501
DOIs
Publication statusPublished - Jul 2020

Keywords

  • Coronavirus
  • Crisis management
  • Organizational crisis
  • Social exchange theory

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