Karine Oganisjana, Laura Trule, Ruwanpura Sashrika Nethmini Dasanayake, Svitlana Arkhypova, Nadežda Koleda

Proceedings of the 27th World Multi-Conference on Systemics, Cybernetics and Informatics: WMSCI 2023, pp. 399-404 (2023); https://doi.org/10.54808/WMSCI2023.01.399

Karine Oganisjana
Faculty of Engineering Economics and Management, Riga Technical University, Riga, Latvia

Laura Trule
Faculty of Engineering Economics and Management, Riga Technical University, Riga, Latvia

Ruwanpura Sashrika Nethmini Dasanayake
Faculty of Engineering Economics and Management, Riga Technical University, Riga, Latvia

Svitlana Arkhypova
Faculty of Humanitarian Technologies, Cherkasy State Technological University, Cherkasy, Ukraine

Nadežda Koleda
Faculty of Engineering Economics and Management, Riga Technical University, Riga, Latvia

Cite this paper as:
Oganisjana, K., Trule, L., Dasanayake, R. S. N., Arkhypova, S., Koleda, N. (2023). Factors That Impact Companies' Ability to Create New Opportunities and Realize Innovative Solutions During Crises. In N. Callaos, E. Gaile-Sarkane, S. Hashimoto, N. Lace, B. Sánchez, M. Savoie (Eds.), Proceedings of the 27th World Multi-Conference on Systemics, Cybernetics and Informatics: WMSCI 2023, pp. 399-404. International Institute of Informatics and Cybernetics. https://doi.org/10.54808/WMSCI2023.01.399

This paper explores the factors influencing the company’s ability to generate new opportunities and realize innovative solutions during crises to enhance its business resilience. The research is based on the survey and interviews of 230 large, medium, and small-sized enterprises of different ages. They have different experiences in overcoming the Global Financial Crisis of 2007-2008, the drastic consequences of the COVID-19 pandemic worldwide, and/or the turmoil caused by Russia’s war in Ukraine. The qualitative content analysis of the respondents’ answers revealed five main domains of factors – company culture; the company’s resources; research & development; leadership; the market & clients, complemented with a sixth domain composed of various low-frequency codes. The 44 factors that make the base for these six-factor domains give a complete insight into drivers and barriers that companies should deal with to survive and prosper in crises.