Creative industries’ business strategies during crises: insights from incubated small business startups

Abstract

Purpose

This study aims to explore the strategies adopted by incubated small business startups in creative industries during the COVID-19 pandemic. To conduct the analysis, the conceptualization of Miles and Snow’s strategic typology was used. The findings of this study could help small business startups deal strategically with future crises.

Design/methodology/approach

This study used a qualitative approach, and data were obtained through interviews with 15 fashion-related incubated startup founders in Indonesia.

Findings

The results of this study showed that business strategies implemented by most owners were centered on calculated risk-taking. The main choices comprised the “wait and see” and “seeking new opportunities” approaches. Regarding foresight capabilities of participants of this study, there are some interesting findings that may capture the essence of their capabilities in dealing with future crises.

Research limitations/implications

The findings cannot be generalized across all creative industries but offer additional perspectives possibly unnoticed by stakeholders. In this regard, the findings could help startups in creative industries take different strategies in specific contexts.

Originality/value

Small business startups in creative industries are expected to provide different responses to ensure survival because of their chosen business strategies. However, limited information is available regarding how these business entities adapt to a new normal during pandemic crises.

Citation

Games, D., Albatati, B. and Sari, D. (2024), "Creative industries’ business strategies during crises: insights from incubated small business startups", Foresight, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/FS-11-2022-0159