As always, the easier lessons to learn come from History. For instance the Spanish Flu epidemic in 1918 - 1919 left more casualties than war itself (wwI- 1914-1918). As far as I know, it was said then that because of war people wer badly nourished and weaker, that´s a big difference with the present.
COVID 19 is new pandemic. It brought with it attendant Lock down. Presently, I am looking at this lock down effect on daily income earners here in Nigeria.
Business reactions during the pandemic have been groundbreaking for some businesses while others go out of business. E-commerce has taken over and AI is going to become more relevant such as drone delivery with the advent of contactless delivery.
Electronics engineers will begin to design drones that can carry heavier good. A lot to be researched on in the coming years.
Probably we will not depend so much on imports from one single country, like today, countries will look more to their own economies.
Before 1929, the world was much more open to trade than afterwards. That may happen again with the Corona Virus, countries will look inside and see what they can produce themselves instead of importing. Probably that will be more so in certain industries like food and pharmaceutics.
I do learn a little bit on how this pandemic do affect the economic as well as the business! Yeah! Sure share your thoughts here! I would love to hear it😊
Large companies felt responsibility to the public. In addition to having to strive to maintain their people, they are engaging in a real war effort to offer products related to their technologies, aiming to bring well-being to society.
Dear Krzysztof, this period is fascinating for my area. While the management function of controlling during peace times is more or less a monster, it is now turning into a knight in shining armor. Every two years I follow the attitudes of managers/informed employees towards controlling. I am very curious if the growing positive attitude of these respondents turns towards the negative. I will also examine whether the perceived importance of controlling in companies will increase. Best wishes Juraj
Nowadays most businesses are adopting digital marketing and online services more than ever. Online promotions are important to help the business keep going.
I'm also looking at researching on the effects of COVID-19 on business, specifically increased use of digital tools. I am still in the designing process of my research but looking to get some insights or ideas on new technology used by companies and/or the public sector
Actually I am conducting a research which looks into umemployment increment due to digitization where machines perform better than human as a revolutionary evolution. However, this pushed economies from being connected with second industrial revolution to connect with third industrial revolution where energy will renewable energy and communication will be internet (AI,IoT). COVID-19 pushed every business engaged employee to work from home.I have found that very interesting becuase everyone is performing better from home from office with no evidence that this momentum could continue if this become a business doing model. if occurs the there will be sugnificant change in employment where business in countries with less wags will come back homw and treat its emplyees as virtual employees and re-allocate cost of office on them. I think there are a lot of lesson learned here.
I suppose three separate questionnaires are need to study business reactions to pandemic -- one is to be administered among businesses which continue operations, the second one --among businesses which were legally forced to stop their operations during pandemic (sinemas, travel agencies etc.) and were able to continue their operations after restrictions were lifted. However, the most interesting survey could be made (it it is possible to made) among owners/managers of businesses which did not survive pandemic.
thanks to all that responded. Just for your info I report here what I did with my team. We adopted a longitudinal approach with five returning waves of e-mail surveying Each time we used the same set of questions plus new supplementary ones reflecting the emerging challenges. We developed a draft questionnaire consisting of 13 open-ended questions covering: (1) the disruptions created by the pandemic as arranged in terms of importance, (2) managers’ reactions and the justifications for them, and (3) ways of coping. We then interviewed top managers of comparable firms – not belonging to our sample – to validate our approach. These interviews led to several revisions in our questionnaire, whose final form consisted of open questions supplemented by questions regarding the rationale behind decisions and particular actions. Faced with time pressure and a limited willingness of Polish managers to respond to questionnaires, we decided to use a convenience database of approximately 800 Executive MBA Polish students at Kozminski University, most of them members of Executive Boards of different companies operating in Poland. We started our research when the first lockdown was announced in Poland, and emailing the first survey on 5th April (wave 1). By sending a follow-up message we received 110 questionnaires (i.e. a response rate of approximately 14%). We repeated our survey one month later, on 4th May. We added three questions to our questionnaire (triggered by managerial responses received during wave 1 and pandemic measures introduced by the Polish government), as related to matters of relationships with major stakeholders, emotions and attitudes in firms during lockdowns, and personal feelings and stress levels of respondents. On this occasion, 85 questionnaires from within the initial group of 110 were received back in the wake of the follow-up message. In the third wave we emailed the slightly-extended questionnaire on 5th June. Following managerial responses of the second wave, we added questions relating to the scope of online communication and work in respondents’ firms, and evaluations of support programs put into effect by the Polish state administration. In the fourth wave we emailed slightly adopted questionnaire on 5th October, and added questions related to remote work and government support. And we are in the process of emailing the fifth wave.. I think that the results are fascinating and multidimensional. They show the cycle that started with adrenaline and challenge of pandemia, became quickly process of pandemia acceptance and taming, developed into frustration and fear and now again moves slowly to tired optimism. And in terms of management incremental adjustments dominated. Finally for many respondents it is an important personal lesson. The research paper detailing results of our reserch will be published in a special issue of Journal of East European Management Studies in 2021.