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Post-COVID-19 era and Fourth Industrial Revolution: Contemporary Trends in Labor Relations and Organizational Adaptation

Author

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Koutroukis, Theodore

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (Democritus University of Thrace, Department of Economics)

Abstract

The outbreak of the COVID-19 pandemic seems to be structurally transforming the global economy. This article explores how these recent changes impact the different types of organizations and the ways these may adapt in this repositioned context. First, we present the central dimensions of the unfolding health crisis and the subsequent broader socioeconomic crisis. Then, it is argued that this global-scale emerging transformation has brought about fundamental changes in the working environment within the accelerated Fourth Industrial Revolution. The article concludes that all socioeconomic organizations (irrespectively of size and sectoral scope) are now required to grow as swiftly as possible their strategic, technological, and managerial potential to innovate and adapt in this emerging reality. Τhis innovational adaptation to exit this structural crisis seems to be requiring the structuration of corresponding change management mechanisms.

Suggested Citation

  • Vlados, Charis & Koutroukis, Theodore & Chatzinikolaou, Dimos, 2021. "Post-COVID-19 era and Fourth Industrial Revolution: Contemporary Trends in Labor Relations and Organizational Adaptation," DUTH Research Papers in Economics 17-2021, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2021_017
    Note: ILERA 9th Africa Regional Congress 2021: “Challenges Facing Employment Relations, Labour Law and Social Protection to Reduce Poverty, Inequality and Unemployment in Africa, in the wake of a Global Pandemic”, 26 – 29 September 2021, Skukuza Safari Lodge, Kruger National Park, Mpumalanga
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    More about this item

    Keywords

    Change management; COVID-19; Fourth Industrial Revolution; Innovation; Labor relations; Organizational adaptation;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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