Author: Perera, Travis

Source: Industry and Higher Education, Volume 21, Number 1, February 2007 , pp. 99-107(9)

Publisher: IP Publishing Ltd

Abstract:

The tsunami of 26 December 2004 killed over 35,000 people in Sri Lanka, made 400,000 jobless and damaged the economy by 6·5%. The physical damage was around US$1·5billion, with reconstruction costing $2 billion. Although entrepreneurs are opportunity seekers, take risks and thrive in uncertainty, the alignment of competency and institutional support was not fully realized for recovery. This problem is studied by revisiting inertia theory (to understand entrepreneurial inertia), network theory (for the interaction of environment and entrepreneur), and theory on disaster management (to understand stage-related issues). The objective of the paper is to provide insights into the current recovery process and future preparedness for small business management following natural disasters. The paper is based on a survey of 89 Sri Lankan small businesses affected by the tsunami which are now in the process of recovery. The procedures and techniques adopted by the Postgraduate Institute of Management in Sri Lanka, based on active participation combined with observation and systems design, proved highly effective in aiding entrepreneurs on their path to recovery.

Keywords: DISASTER RECOVERY; EMERGENT LEADERSHIP; RE-ENTRY WEDGES; TSUNAMI; SRI LANKA

Document Type: Research article

DOI: http://dx.doi.org/10.5367/000000007780222769

Publication date: 2007-02-01

More about this publication?

• Industry and Higher Education, published six times a year, is dedicated to all aspects of the relationship and interaction between higher education institutions and business and industry. With a strong emphasis on practical experience, this peer-reviewed journal covers strategic, organizational, economic, political, legal, and social issues relating to the developments in education-industry collaboration. Topics such as knowledge transfer, regional development and entrepreneurship education are key concerns. For more details, see www.ippublishing.com.

• Subscribe to this Title
• ingentaconnect is not responsible for the content or availability of external websites

Related content

• In this: publication
• By this: publisher
• In this Subject: Education
• By this author: Perera, Travis

Website © Publishing Technology. Article copyright remains with the publisher, society or author(s) as specified within the article.

• Terms and conditions
• Privacy policy
• Information for advertisers