Covid Management Strategies Across the Globe

Abstract

Experts believe that the COVID-19 pandemic has had a far greater impact on the world than the Great Depression and World War II. While people were seen battling for their life on one side, there were also those who were battling for everyday necessities due to lack of income. Businesses are rethinking strategies and rewriting business plans as the game rules seem to have changed overnight with the entry of the virus. The objective of this chapter is to review the disturbing effect the pandemic has had on the Indian and world economy and further discuss the strategies that would help businesses in the short as well as long run to overcome the challenges posed by the pandemic. Literature review has been carried out to gather the data for this study. This is a narrative review and not a systematic one. A few strategies that have helped organizations to win over the COVID situation are digital transformation, reworking cost structures and implementing agile operations. Utilizing remote workforce, opting for digital transactions and providing services online have become the new normal. The researcher concludes that businesses need to accept the challenge before them and adapt people-centric strategies which rely on key technologies that are resilient and work hand-in-hand with government agencies to help reconstruct the local community that they are a part of. This collaboration will prove to be beneficial in the long run for both the organization as well as the community.

Citation

Purankar, S. (2023), "Covid Management Strategies Across the Globe", Misra, R.K., Shrivastava, A. and Sijoria, C. (Ed.) Technology, Management and Business (Advanced Series in Management, Vol. 31), Emerald Publishing Limited, Leeds, pp. 33-44. https://doi.org/10.1108/S1877-636120230000031004