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Impact of the pandemic crisis on international entrepreneurship

Leszczyńska Małgorzata, Puchalska Katarzyna

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

2023

z. 175

251--270

Purpose: The article aims to analysis the essence of multinational entrepreneurship, the main currents of research conducted in this field, and in the context of the crisis caused by the SARS-CoV-2 virus pandemic, which creates both economical barriers and opportunities for multinational companies, as well as to present the role of these enterprises in the economies' reconstruction. Design/methodology/approach: The article reviews national and foreign professional, scientific publications concerning economical aspects on multinational entrepreneurship and conducted an analysis based on economic data on the situation of multinational companies, as well as the flow of FDI, including the OECD, International Group of Chambers of Commerce (IGCC) and Global Entrepreneurship Monitor databases (GEM). Findings: The conducted literature and empirical studies allow us to conclude that the COVID-19 pandemic had a significant impact on multinational entrepreneurship, including changes in the activities of enterprises and attempts to adapt them to the changing and uncertain environment. The first response to the crisis for international companies is their use of available resources, followed by transformations of supply chains or changes in business models. Regarding multinational companies, the economic slowdown caused by the pandemic can be interpreted not only in terms of threats but also opportunities, as crises may also contribute to the creation of new opportunities for their development. Research limitations/implications: The COVID-19 pandemic and numerous blockages in economies worldwide have created a unique situation that does not yet have a solid theoretical grounding in the economic literature on multinational entrepreneurship (context of the emergence of a crisis), which is a challenge for researchers. Research should also use innovative research methods to a greater extent, i.e., internationalization of complex systems, visualization, computer simulations, and experiments. Practical implications: Regarding empirical research, it is worth noting that it is difficult to decide here to what extent the indicated changes are permanent. Hence there is a need for further research in this area. The existing assumptions concerning the business environment, the theory of internalization and patterns of multinational entrepreneurship, and the relations and connections between multinational entrepreneurship and international views of business and entrepreneurship also require re-analysis. Social implications: The role of international enterprises in the reconstruction of national economies was pointed out. Originality/value: The focus was on the cognitive aspects related to changes in the area of international entrepreneurship, relating to FDI flows and crisis trends caused by the COVID-19 pandemic, mainly due to the fact that in international business research this area of research often abounds in ambiguous conclusions.