Understanding Strategic Response to Covid-19 Crisis in Manufacturing SMEs: A Cluster Analysis

Abstract

Manufacturing small- and medium- sized enterprises (SMEs), which play a decisive role in the Spanish and European economy, have been particularly affected by the disruption generated by the COVID-19 crisis, being their strategic decisions key to maintain their competitiveness. This article explores the strategic priorities defined by managers of manufacturing SMEs to face COVID-19 related challenges. Data were collected from 167 manufacturing companies through an online questionnaire and exploited with factorial and cluster analysis. The results highlight the strategic importance of developing more advanced business models, boosting customer responsiveness and developing the innovative value propositions in developing a proactive response to the Covid-19 crisis. The value of this ongoing study lies in its contribution to quantitative research on the impact of the Covid-19 crisis on the strategic management of manufacturing SMEs.