The market-shaping potential of a crisis

crisis, like the COVID-19 pandemic or a cyber-attack, not only creates the necessityfor crisis management in business-to-business firms aimed at addressing theimmediate challenges, but also offers opportunities to shape business markets bychanging exchanges, collaborations, and institutions. In order to develop a conceptualframework to capture the market-shaping potential of a crisis, we integrate insightsfrom risk management and strategic management, and discuss their implications formarket shaping. As such, this paper builds a bridge between the reactive nature ofcrisis management during a crisis and proactive market shaping, and offers newinsights into market shaping based on an underutilized source of inspiration, namelycrisis management. Based on resilience (from risk management) and responsiveness(from strategic management), we propose four market-shaping opportunities. Beyondthe theoretical novelty of contributing to our understanding of market shaping basedon crisis management, our framework has managerial implications for market shapingand highlights a set of interesting research questions that can guide future studies.