Bìznes Inform (Dec 2023)
Ensuring the Resilience of the Restaurant Market of Ukraine During the Wartime
Abstract
The recovery of domestic business, in particular restaurant business, during and after the wartime should be based on a new philosophy of economic management. One approach that can be taken into account is the conception of resilience of socioeconomic systems. The aim of the study is to form directions for ensuring the resilience of the restaurant market of Ukraine in the conditions of wartime and the post-war reconstruction. It is defined that the resilience of restaurant market enterprises is their ability to resist, adapt and be successful in the face of shocks, crises and challenges of the external and internal environment, in particular caused by russia’s military aggression against Ukraine. Ensuring the resilience of enterprises in the restaurant market requires a balanced focus on six dimensions: financial, operational, technological, organizational, reputational, and the dimension of business models. Based on the analysis of statistical data, it is determined that after the onset of a full-scale war, restaurant market enterprises found themselves in a situation for which they were not prepared, but some establishments were able to quickly adapt and, over time, improve the results of their activities, that is, they proved their resilience. Meantime, in most regions, in particular in the South and East of our country, the restaurant market cannot yet recover due to constant shelling and a high level of risks. It is noted that the recovery of the domestic economy in the wartime and post-wartime periods is directly related to the resilience of Ukrainian business, in particular restaurants. Ensuring the resilience of enterprises in the restaurant market can be achieved through enhanced monitoring of risks that go beyond the usual types of risks; implementation of advanced scenario planning, new technologies, new business models and proactive management of the institution’s reputation. In order to ensure future resilience, restaurant market enterprises should determine the level of their current stability and resilience, the degree and nature of resilience in the future, and develop their own approaches to creating and maintaining the necessary resilience.
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