THE IMPACT OF COVID-19 ON HIGH GROWTH FIRMS IN HULL: A STUDY ABOUT BUSINESS DIGITALISATION AND ITS ROLE IN ADAPTING TO COVID-19 BUSINESS ENVIRONMENT

• Main Author: Yudiarta, Jeffrey
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/61049
• Institution: Institut Teknologi Bandung

The COVID-19 pandemic has greatly slowed down the business world, where population immobility has caused a global recession which forces firms from various industries to adapt to this new normal. Among various adaptation strategies towards COVID-19, digitalisation is one of the go-to strategies for businesses to mitigate the adverse impacts of the pandemic. This study will explore and focus on High Growth Firms (HGFs) in Hull as HGFs are key players in any economy due to HGFs being the firms who spearhead the economy in job creation, innovativeness, and also digitalisation, where they see technology as a massive player to develop their business. The study follows a Grounded Theory Method structure, which aims to explore the impacts of COVID-19 in Hull. The study will take a look at how COVID-19 impacted HGFs from different industries, their strategies to combat COVID-19, and the role of digitalisation to combat COVID-19 and help them maintain their High Growth status. The study results show that COVID-19 has brought so many challenges for HGFs, but it also has brought some advantages and opportunities that these HGFs capitalize through their strategies throughout the pandemic year. Furthermore, a unique scenario in Hull can be observed where HGFs are largely digitalised even before COVID-19, and those who haven’t highlights digitalisation as one of their highest priorities. The findings of this study are expected to provide other businesses with some insights for their businesses in order to overcome the COVID-19 obstacles, or even accelerate growth and become HGF of their own. Furthermore, the study can also be a reference for future studies who want to explore topics related to HGFs, COVID-19, and digitalisation.