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The covid-19 pandemic has significantly impacted economies all over the world, posing as a difficulty for companies all across the globe. The Micro, Small, and Medium Enterprises (MSMEs) in India were one of the most affected. These Enterprises make a substantial contribution to India's economic output.
Despite their significance, these enterprises had faced immense challenges during the pandemic, such as disrupted supply chains, financial needs, loss of customer interest, and administrative problems as well.
This paper, has the intention of studying the aftermath of the COVID-19 pandemic on the MSMEs of India and is focusing on the Volatility, Uncertainty, Complexities, and Ambiguity (VUCA) challenged encountered by them, the strategies that these businesses put into place to keep the organizations afloat, is also studied.
This paper includes a study spanning various fields, exploring the adaptive mechanisms, and strategies incorporated by MSMEs to manage and navigate through the turbulent business environment, sustaining operations and managing risks.
Furthermore, the thesis throws some light on the role of digital transformation in MSME resilience during the crisis, noting its effectiveness and potential barriers. The study aims to give insights and suggestions to better prepare MSMEs versatility against future disruptions, while also looking at government aid or help during the pandemic.
At last, this thesis adds to the understanding of challenges faced by MSMEs during the Covid-19 pandemic, while trying to offer valuable insights for the future.