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The Influence Of Covid-19 Pandemic On The Global Business Trends And Management Practices

Author

Listed:
  • Ristovska, Natasha

    (University of Skopje)

  • Blazheska , Daliborka

    (University of Skopje)

  • Gramatnikovski , Sashko

    (University of Skopje)

Abstract

COVID-19 has had a significant impact on the global economic activities. Businesses entities experienced the disruption of their normal operations. The dynamic nature of modern working conditions and the pivotal role of change management approaches in navigating this complexity is analysed. Pandemic-induced changes in the working environment, global workforce and productivity, sales and profit, as well as consumer behavior and management practices are highlighted in this paper. Analysis of the competition and market challenges caused by the pandemic is also provided. Additionally, an overview of the various aspects how businesses organizations have adapted to the challenges posed by the pandemic is presented with emphasis on the need for organizational changes in response to the pandemic. The results show that business leaders need to focus on sustainable and inclusive growth which will require innovations and will be based on flexible and agile management driven by data and technology. Each sector and industry should be dedicated to reinvent itself for recovery and development, recognizing the importance of resilience and flexibility to adapt quickly to changing conditions as the top priorities in the post pandemic global business environment.

Suggested Citation

  • Ristovska, Natasha & Blazheska , Daliborka & Gramatnikovski , Sashko, 2023. "The Influence Of Covid-19 Pandemic On The Global Business Trends And Management Practices," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 14(2), pages 144-159.
    • Handle: RePEc:ris:utmsje:0353
    as

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    More about this item

    Keywords

    pandemic; business; sustainability; resilience; organizational changes; agile change management;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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