Business Model Innovations (BMI) by Small and Medium Enterprises (SMEs) during Covid 19 Pandemic. Case of Harare, Zimbabwe

Abstract

The Business Model Innovation (BMI) concept has gained increased attention in recent years and has been seen as essential for company’s growth and survival. Since Covid 19 (CV-19) pandemic, SMEs have been the most vulnerable because of restrictions and regulations by which have affected company’s income. This study explores empirically the BMI by SMEs during the CV-19 pandemic. A quantitative descriptive approach was used to carry out the study. It was discovered through the study that the CV-19 pandemic had dire impact on SME operations and also that has led most SMEs to carry out adaptive BMI in order to survive the effects of the pandemic. Findings from research allow understanding the nature of business model innovations by SMEs in Zimbabwe during CV-19 pandemic. Therefore, this research helps to further advance BMI theory through exploring the concept in a practical and disruptive situation like CV-19.

Keywords

• business model
• business model innovation
• covid 19 pandemic
• small to medium enterprises