“In the middle of difficulty lies opportunity” : A qualitative study on inflation and uncertainties impact on global furniture export companies

Abstract: In today's dynamic business landscape, companies are constantly exposed to a multitude of challenges and uncertainties that can significantly impact their operations and performance. Inflation, a worldwide pandemic, supply chain disruptions, and rising costs are just a few of the disruptive events that have occurred during the last few years. This thesis investigates the effects of inflation and uncertainties on companies operating in the furniture industry. This thesis adopts a qualitative research approach as its methodological foundation. A comprehensive review of relevant literature and studies pertaining to the subject matter is conducted. To supplement the theoretical insights, empirical data is collected through semi-structured interviews conducted with five company cases. The data collected from these interviews serves as the basis for the development of three key themes: Macroeconomics, export, and crisis management. These themes are consistently woven throughout the thesis, providing a coherent narrative for the reader. This thesis concludes that in times of uncertainties, global furniture export companies have diversified suppliers and markets, managed resources effectively, implemented proactive risk management, and cultivated strong relationships. Prioritizing crisis management, monitoring macroeconomic factors, and optimizing strategic resources have all been key for enhancing resilience and competitiveness in this industry and allows the industry to grow and advance, as in the face of adversity it becomes evident that in the middle of difficulty lies opportunity.