Business Success in a Crisis: : A Qualitative Study About How Decision-Making in Gothenburg’s Tourism Industry Innovates Business Models to Create Value during the Covid-19 Pandemic.

Abstract: The Covid-19 pandemic has made an impact on the tourism industry which has caused a myriad of businesses to change in order to combat the crisis. The purpose of this study was to investigate companies’ decision-making processes behind innovation of business models to create value during Covid-19 pandemic. It is also to understand requirements for business success. The study focused on companies within the tourism industry operating in Gothenburg. The study was conducted with a qualitative research method through interviewing four companies in the tourism industry representing accommodation, activities, transport, and dining. From the study’s findings, business model innovation, or innovation in general, is critically important when the company has been affected by a crisis. The study showed that it helps a company to gain benefits such as insight about its capabilities, vulnerabilities, customers, and competence in order to combat a crisis and get competitive advantage. Moreover, the study also found a connection between businesses using business model innovation to create value for customers when the business is pull-oriented and focuses on assisting in the value co-creation process. It was evident that the Covid-19 pandemic had a huge impact on decision-making which resulted in additional business opportunities. Lastly, the study contributed to a new finding in which business success was associated with forced motivation and motivational force.