Analyzing the impact of the coronavirus crisis on business models

Abstract In the light of the current coronavirus crisis, business-to-business firms face a variety of challenges in a complex and fast-changing environment. In order to provide structured analysis and to guide strategic decision-making, we present a novel, five-step approach for analyzing the impact of a crisis on a firm's business model. We applied the approach with eight business-to-business firms and find support for its usefulness. The evidence suggests very different impacts of the coronavirus crisis on business-to-business firms, and that understanding these differences is important for strategizing during the crisis but also to navigating successfully into the future. We also describe six different types of crisis impacts on business models. We conclude by developing managerial implications and questions for future research.