The Emergence of Crisis: A Catalyst to Start-Up a Business for Entrepreneurs Using Paradigm Shift

Last modified: August 2, 2022
Estimated reading time: 1 min
Project Title: The Emergence of Crisis: A Catalyst to Start-Up a Business for Entrepreneurs Using Paradigm Shift
Author: Miss Covelette May Carupo Haguingan
Advisor: Dr. Tanakorn Limsarun
Degree: Master of Business Administration (International Program)
Major: International Business Management
Faculty: Graduate Schools
Academic year: 2022
Url:

Published:

Conference
Conference Proceedings
National and International Academic Conference “Empowering Innovtion and Sustainability in the Next Normal” 27 November 2021

Citation

Haguingan, Covelette May Carupo. (2022). The emergence of crisis: A catalyst to start-up a business for entrepreneurs using paradigm shift. (Master’s independent study). Bangkok: Siam University.


Abstract

A crisis is likely to be an ultramodern fundamental phenomenon experienced by anyone, and a paradigm-shift is the futuristic adaption of the new idea. Starting a new business during a crisis is not an expected consolidation to most people. The research aimed to understand the connection of problems while implementing a new system strategy in business as the catalyst of crises while effectively managing the issue to promote sustainability and maintain a competitive advantage in the market. Every business entrepreneur is a proponent and subject to inhibiting significant challenges encountered. In times of crisis, a pragmatic sense of leadership has a substantial consequential player from strategies. The method used to analyze secondary research data and extract the essential parts related to the topic. The data was based on the authenticity and credibility of the document and measured the result against similar studies conducted from 2016 – to 2021. The study definitively answers the questions regarding strategies to use when starting a business during a crisis, which can counteract any crisis-related phenomena.

Interestingly, the proximity of using the alternative internet-based associated system when embarking on a business is ubiquitous, essential, and requires constant attention. The findings indicated that identifying the crises before a decision is conclusive and can provide an adequate contingent plan for long-term crisis management and paradigm-shift. Hence, the use of paradigm shifting incorporates SaaS and emulates competitors. Business models concurrent to potential scalable and endless profit, with SaaS, offer the possibility to build customer’s relationship; therefore, a bridge for a profitable business.

Keywords: Crisis, Catalyst, Embark a Business, Paradigm Shift


The Emergence of Crisis: A Catalyst to Start-Up a Business for Entrepreneurs Using Paradigm Shift

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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