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This annotated bibliography contains 7 sources on the impacts of COVID-19 on small businesses. The sources discuss themes such as mass layoffs and closures occurring early in the crisis, the financial fragility of many small businesses with less than a month of cash on hand, and varying beliefs about the duration of COVID-19 disruptions. The sources also examine small business expectations around accessing funding from the CARES Act and impacts on industries, consumer behavior, and businesses globally from the pandemic.

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Ranie Monteclaro
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39 views

Form 1 Group 5

This annotated bibliography contains 7 sources on the impacts of COVID-19 on small businesses. The sources discuss themes such as mass layoffs and closures occurring early in the crisis, the financial fragility of many small businesses with less than a month of cash on hand, and varying beliefs about the duration of COVID-19 disruptions. The sources also examine small business expectations around accessing funding from the CARES Act and impacts on industries, consumer behavior, and businesses globally from the pandemic.

Uploaded by

Ranie Monteclaro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RESEARCH FORM 1

ANNOTATED BIBLIOGRAPHY

RESEARCHERS: CLEFORD HOPE P. MUYON DATE SUBMITTED: September 23, 2020


RANIE B. MONTECLARO
RODRIGO B. MADRAZO JR.
MELANIE P. LUZ
SHARMIN M. LOPEZ

SOURCE ANNOTATION

Kumaradeepan & M.G.S (2015) focusing on the "Service


Kumaradeepan, V., & Pathmini. (2007, December strategies for customer satisfaction and customer loyalty in
08). A Review of Literature on Service Strategies store supermarket". It is made to provide a comprehensive
for Customer Satisfaction and Customer Loyalty idea developed on service strategies on customer satisfaction
in Store Supermarkets. Retrieved September 22, and customers loyalty from its populated period. It shows that
2020, from both service quality strategies and service escape strategies
https://www.sciencedirect.com/science/article/ are significantly influencing to determine the consumers
abs/pii/S0167923607002205 satisfaction. ( Kumaradeepan, 2007)

Sellers increasingly compete with innovative Internet-based


Granados, N., Gupta, A., & Kauffman, R. J. (2007, selling mechanisms, revealing or concealing market
December 08). Designing online selling information. Transparency strategy involves design choices by
mechanisms: Transparency levels and prices. firms that influence the availability and accessibility of
Retrieved September 22, 2020, from information about products and prices. We develop decision
https://www.sciencedirect.com/science/article/ support models for suppliers to set prices for online
abs/pii/S0167923607002205 mechanisms with different transparency levels. We then
empirically analyze the price levels set by airlines across
transparent and opaque online travel agencies. Our results
suggest that airlines can increase profit by increasing price
differentials or influencing OTA transparency differences. We
also discuss application generality and limitations of our
results. (Granados, 2007)

To explore the impact of coronavirus disease 2019 (COVID-19)


Bartik, A. W., Bertrand, M., Cullen, Z., Glaeser, E. on small businesses, we conducted a survey of more than
L., Luca, M., & Stanton, C. (2020, July 28). The 5,800 small businesses between March 28 and April 4, 2020.
impact of COVID-19 on small business outcomes Several themes emerged. First, mass layoffs and closures had
and expectations. Retrieved September 22, 2020, already occurred—just a few weeks into the crisis. Second, the
from risk of closure was negatively associated with the expected
https://www.pnas.org/content/117/30/17656.s length of the crisis. Moreover, businesses had widely varying
hort beliefs about the likely duration of COVID-related disruptions.
Third, many small businesses are financially fragile: The
median business with more than $10,000 in monthly expenses
had only about 2 wk of cash on hand at the time of the survey.
Fourth, the majority of businesses planned to seek funding
through the Coronavirus Aid, Relief, and Economic Security
(CARES) Act. However, many anticipated problems with
accessing the program, such as bureaucratic hassles and
difficulties establishing eligibility. Using experimental
variation, we also assess take-up rates and business resilience
effects for loans relative to grants-based programs. (Batrik,
2020)
In addition to its impact on public health, COVID-19 has had a
Glaeser, E. (2020, May 01). How Are Small major impact on the economy. To shed light on how COVID-19
Businesses Adjusting to COVID-19? Early is affecting small businesses – and on the likely impact of the
Evidence from a Survey. Retrieved September 23, recent stimulus bill, we conducted a survey of more than 5,800
2020, from small businesses. Several main themes emerge from the
https://www.hks.harvard.edu/publications/how results. First, mass layoffs and closures have already occurred.
-are-small-businesses-adjusting-covid-19-early- In our sample, 43 percent of businesses are temporarily closed,
evidence-survey and businesses have – on average – reduced their employee
counts by 40 percent relative to January. Second, consistent
with previous literature, we find that many small businesses
are financially fragile. For example, the median business has
more than $10,000 in monthly expenses and less than one
month of cash on hand. Third, businesses have widely varying
beliefs about the likely duration of COVID related disruptions.
Fourth, the majority of businesses planned to seek funding
through the CARES act. However, many anticipated problems
with accessing the aid, such as bureaucratic hassles and
difficulties establishing eligibility. (Glaeser, 2020)
The COVID-19 outbreak is a sharp reminder that pandemics,
Donthu, N., & Gustafsson, A. (2020, September). like other rarely occurring catastrophes, have happened in the
Effects of COVID-19 on business and research. past and will continue to happen in the future. Even if we
Retrieved September 23, 2020, from cannot prevent dangerous viruses from emerging, we should
https://www.ncbi.nlm.nih.gov/pmc/articles/PM prepare to dampen their effects on society. The current
C7280091/ outbreak has had severe economic consequences across the
globe, and it does not look like any country will be unaffected.
This not only has consequences for the economy; all of society
is affected, which has led to dramatic changes in how
businesses act and consumers behave. This special issue is a
global effort to address some of the pandemic-related issues
affecting society. In total, there are 13 papers that cover
different industry sectors (e.g., tourism, retail, higher
education), changes in consumer behavior and businesses,
ethical issues, and aspects related to employees and
leadership. (Donthu, 2020)

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