Entrepreneurial Business on wine sector: a business model proposal for Setúbal Peninsula
Keywords:Crisis, Business Resilience, Business Plan, Wine Sector
The frequency and severity of crises and disasters in recent years has highlighted the need and urgency of studying ways to mitigate the impact of these phenomena. These have been overwhelming for businesses with very large impacts on the economies of the countries. It is a complex phenomenon, widely confirmed in the literature, where a variety of studies point to strategic capacity and business model design as key factors for business resilience. The ability to design products or services and deliver them competitively in the market requires a clear strategic definition, as well as the design, implementation, and management of new business models.
The wine sector also suffered major impacts during the pandemic crisis, especially in 2020, however its recovery shows the resilience of this entrepreneurial sector. During this crisis, many business models proved to be obsolete, but others have shown great resilience, proving that it is possible to resist and even thrive in a crisis context. On the other hand, in a globalized market, intense competition in the wine sector leads to critical management issues for wine producers. Due to the unique characteristics of the product, entrepreneurs, and managers, in this sector, need to critically review their business models, establish strategies, and measure their performance.
Considering the crisis on business wine sector caused by pandemic situation, this study aims to answer the questions “What strategies have been implemented in the wine sector of Setúbal Peninsula that have contributed to the survival and prosperity of the sector?”; Is there an ideal business model for this sector on the Setúbal Peninsula?”
The aim of this study is to identify successful strategies of wine sector in a context of crise as well as propose a robust business model for wine sector in Setúbal Peninsula. Both quantitative (questionnaires) and qualitative methods (focus group) were used.
As result of the research, we highlight the identification of some competitive behaviors that may contribute to suggest possible critical success factors in the business models of the Portuguese wine sector.