Response of high-growth enterprises to the crisis caused by the Covid -19 pandemic

Abstract

This paper aims to evaluate the response of high-growth enterprises (HGEs) to the circumstances caused by the COVID-19 pandemic. Adaptation to the pandemic situation presented an enormous challenge for these enterprises. The ability to exercise sound judgment affects rational decision-making and adaptation to the circumstances. The study adopts a situational theory perspective related to high-growth enterprises. Data collection was conducted twice - at the beginning of 2019, and after the third wave of the COVID-19 pandemic, in October 2021. The Generalized Estimating Equations (GEE) method was used to analyze the sample of 150 Polish HGEs. Results show that the impact of the pandemic mainly relates to the reduction or stagnation of market opportunities. The importance of human resources decreased in favor of technological and financial resources. The majority of the surveyed companies also maintained their HGE status.

Keywords

• contingency theory
• high-growth enterprises
• COVID-19 pandemic
• Generalized Estimating Equations
• market indicators