Crisis management for restaurants during COVID-19 : a study of survival strategies of restaurants in Helsinki.

Abstract

Restaurant businesses which are an integral part of the economy in most countries and places also suffered devastating crises during the COVID-19. This thesis aims to highlight the different strategies applied by restaurants throughout the pandemic and also look at their effectiveness in respective businesses. The study was conducted by a survey from a restaurant management company and two independent restaurants located in Helsinki by interviewing the respective members of the businesses with specifically designed questionnaires. The immediate lockdown brought sudden financial loss to every business. The main crisis management plans for business operations found from this study are the expense cut-down by employee layoffs in some businesses or rent negotiations with landlords, immediate strategy and innovation through teamwork, use of online food delivery platforms, changes in the operation system from take dine-ins to take-away services along with marketing through social media and online delivery applications. The involvement of respective administrative bodies to help the people with relevant updates on safety, and use of financial backups were the other key points found to play an important role in crisis management during the pandemic. These findings will help other businesses to be aware of the already implemented plans and help them in the management of future crises.