Business Impacts of COVID-19: International Business, Crisis Management, and the Global Economy

The COVID-19 pandemic has caused significant disruptions to the economy and business activities, highlighting the importance of flexibility and government support. This book provides insights from research and personal experiences in creating anti-crisis solutions in various sectors. It is of interest to researchers, academics, policymakers, and students in international business, economics, crisis management, and entrepreneurship.

Format: Hardback
Length: 250 pages
Publication date: 21 July 2023
Publisher: Taylor & Francis Ltd

The coronavirus disease (COVID-19) pandemic has brought about significant disruptions to the economy and business operations, highlighting critical vulnerabilities in both sectors. The crisis has particularly impacted the services industry, leading to substantial losses. However, it has also showcased the remarkable resilience and adaptability of entrepreneurs in their efforts to combat the crisis.

The government has played a crucial role in addressing this pandemic crisis, implementing measures to contain the epidemic and providing assistance to entrepreneurs who have been most affected. Numerous national aid and recovery packages have been announced to support businesses and workers. Additionally, international financial decisions have mobilized substantial funds to support the functioning of enterprises.

This book offers insights and conclusions drawn from contemporary research, analyses, and personal experiences in developing and implementing anti-crisis solutions within economies and enterprises impacted by the COVID-19 pandemic. It is intended for researchers, academics, policymakers, and students specializing in international business, economics, crisis management, and entrepreneurship.

The COVID-19 pandemic has had a profound impact on the global economy, disrupting supply chains, and leading to significant job losses. It has exposed the fragility of many industries and highlighted the importance of resilience and adaptability in the face of adversity. The response from governments and businesses has been varied, with some countries implementing strict lockdowns and other measures to contain the virus, while others have taken a more lenient approach.

One of the most significant challenges facing the economy during the pandemic has been the disruption to supply chains. Many businesses have been forced to close or operate at reduced capacity, leading to a shortage of goods and services. This has caused inflation to rise and has put pressure on consumers and businesses alike.

In response, governments have implemented various measures to support businesses and workers. These include providing financial assistance through stimulus packages, loan guarantees, and tax relief. Many businesses have also taken steps to adapt to the new realities of the pandemic, such as implementing remote work and online ordering systems.

However, the pandemic has also highlighted the importance of resilience and adaptability in the business world. Many companies have been able to pivot their operations and find new ways to serve their customers, such as by developing new products or services or entering new markets. This has led to a resurgence of entrepreneurship and innovation, with many new businesses emerging to meet the changing needs of consumers.

Another challenge facing the economy during the pandemic has been the impact on job losses. Many businesses have been forced to lay off employees or reduce their hours, leading to a significant increase in unemployment. This has had a particularly devastating impact on low-income workers and those in vulnerable industries.

To address this issue, governments have implemented various job retention and support programs, such as unemployment benefits and wage subsidies. Some businesses have also taken steps. Steps to support their employees, such as providing flexible work arrangements or offering training and development opportunities.

In conclusion, the COVID-19 pandemic has had a profound impact on the global economy, disrupting supply chains, and leading to significant job losses. It has exposed the fragility of many industries and highlighted the importance of resilience and adaptability in the face of adversity. The response from governments and businesses has been varied, with some countries implementing strict lockdowns and other measures to contain the virus, while others have taken a more lenient approach.

However, the pandemic has also led to a resurgence of entrepreneurship and innovation, with many new businesses emerging to meet the changing needs of consumers. It has also highlighted the importance of government support and intervention in addressing economic challenges, such as providing financial assistance and job retention programs. As we move forward from the pandemic, it will be important to continue to support businesses and workers and to invest in innovation and infrastructure to build a more resilient and sustainable economy.

Weight: 660g
Dimension: 229 x 152 (mm)
ISBN-13: 9781032437446