IDEAS home Printed from https://ideas.repec.org/a/pal/jofsma/v26y2021i4d10.1057_s41264-021-00118-9.html
   My bibliography  Save this article

Fast, furious and focused approach to Covid-19 response: an examination of the financial and business resilience of the UAE logistics industry

Author

Listed:
  • Balan Sundarakani

    (University of Wollongong in Dubai)

  • Okey Peter Onyia

    (University of Wollongong in Dubai)

Abstract

While many other countries around the world were struggling to mitigate the immense health and economic effects of the global Covid-19 pandemic, the UAE Government ensured that no shortage of the supplies of goods and services affected the country. This has been attributed to the government’s robust financial support to the supply chain and logistics industry during the pandemic (Atayah et al. 2021). The UAE imports over 90% of its commodities from overseas—including foods, drinks, pharmaceuticals, automobiles, clothing, electronics, building materials, logs, paper, plants, machinery, tools, and raw materials. All these products pass through the operations of the country’s supply chain industry, which depends heavily on the financial institutions. Due to the above assertion, we found it necessary to empirically examine the challenges, threats and successes of the country’s supply chain operators in order to ascertain their financial and business resilience during the pandemic based on the survival strategies and financial resources they received and employed during the unrelenting pandemic. Accordingly, this research has examined the financial and operational resilience of the country’s supply chain organizations as reflected in their ability to maintain efficient financial strategies and stable business operations despite the scourging pandemic. Our initial findings indicate that Covid-19 pandemic interruptions on the nationwide distribution of goods and services in the UAE have been very minimal due to the government’s robust financial support to the logistics industry, and consequently the business resilience developed by the industry operators.

Suggested Citation

  • Balan Sundarakani & Okey Peter Onyia, 2021. "Fast, furious and focused approach to Covid-19 response: an examination of the financial and business resilience of the UAE logistics industry," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 237-258, December.
  • Handle: RePEc:pal:jofsma:v:26:y:2021:i:4:d:10.1057_s41264-021-00118-9
    DOI: 10.1057/s41264-021-00118-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41264-021-00118-9
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1057/s41264-021-00118-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Taghreed Abu-Salim & Okey Peter Onyia & Tina Harrison & Valerie Lindsay, 2017. "Effects of perceived cost, service quality, and customer satisfaction on health insurance service continuance," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 22(4), pages 173-186, December.
    2. Fahimnia, Behnam & Jabbarzadeh, Armin, 2016. "Marrying supply chain sustainability and resilience: A match made in heaven," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 91(C), pages 306-324.
    3. David J. Teece & Greg Linden, 2017. "Business models, value capture, and the digital enterprise," Journal of Organization Design, Springer;Organizational Design Community, vol. 6(1), pages 1-14, December.
    4. Gornall, Will & Strebulaev, Ilya A., 2018. "Financing as a supply chain: The capital structure of banks and borrowers," Journal of Financial Economics, Elsevier, vol. 129(3), pages 510-530.
    5. Belhadi, Amine & Kamble, Sachin & Jabbour, Charbel Jose Chiappetta & Gunasekaran, Angappa & Ndubisi, Nelson Oly & Venkatesh, Mani, 2021. "Manufacturing and service supply chain resilience to the COVID-19 outbreak: Lessons learned from the automobile and airline industries," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    6. Liu, Chiung-Lin & Shang, Kuo-Chung & Lirn, Taih-Cherng & Lai, Kee-Hung & Lun, Y.H. Venus, 2018. "Supply chain resilience, firm performance, and management policies in the liner shipping industry," Transportation Research Part A: Policy and Practice, Elsevier, vol. 110(C), pages 202-219.
    7. Warwick McKibbin & David Vines, 2020. "Global macroeconomic cooperation in response to the COVID-19 pandemic: a roadmap for the G20 and the IMF," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(Supplemen), pages 297-337.
    8. Panos Kouvelis & Wenhui Zhao, 2018. "Who Should Finance the Supply Chain? Impact of Credit Ratings on Supply Chain Decisions," Manufacturing & Service Operations Management, INFORMS, vol. 20(1), pages 19-35, February.
    9. Chen, Liwei & Dui, Hongyan & Zhang, Chi, 2020. "A resilience measure for supply chain systems considering the interruption with the cyber-physical systems," Reliability Engineering and System Safety, Elsevier, vol. 199(C).
    10. David J. Teece & Gary Pisano & Amy Shuen, 1997. "Dynamic capabilities and strategic management," Strategic Management Journal, Wiley Blackwell, vol. 18(7), pages 509-533, August.
    11. Monaghan, Sinéad & Lavelle, Jonathan & Gunnigle, Patrick, 2017. "Mapping networks: Exploring the utility of social network analysis in management research and practice," Journal of Business Research, Elsevier, vol. 76(C), pages 136-144.
    12. Shalini Srivastava & Sushama Vishnani, 2021. "Determinants of mobile bank usage among the bank users in North India," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(1), pages 34-51, March.
    13. Haradhan Kumar MOHAJAN, 2018. "Qualitative research methodology in social sciences and related subjects," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 7(1), pages 23-48, March.
    14. Sundarakani, Balan & Ajaykumar, Aneesh & Gunasekaran, Angappa, 2021. "Big data driven supply chain design and applications for blockchain: An action research using case study approach," Omega, Elsevier, vol. 102(C).
    15. Warwick McKibbin & David Vines, 0. "Global macroeconomic cooperation in response to the COVID-19 pandemic: a roadmap for the G20 and the IMF," Oxford Review of Economic Policy, Oxford University Press, vol. 36(Supplemen), pages 297-337.
    16. Sonali K. Shah & Kevin G. Corley, 2006. "Building Better Theory by Bridging the Quantitative–Qualitative Divide," Journal of Management Studies, Wiley Blackwell, vol. 43(8), pages 1821-1835, December.
    17. Huayu Shen & Mengyao Fu & Hongyu Pan & Zhongfu Yu & Yongquan Chen, 2020. "The Impact of the COVID-19 Pandemic on Firm Performance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(10), pages 2213-2230, August.
    18. Arash Azadegan & Kevin Dooley, 2021. "A Typology of Supply Network Resilience Strategies: Complex Collaborations in a Complex World," Journal of Supply Chain Management, Institute for Supply Management, vol. 57(1), pages 17-26, January.
    19. Rajesh, R., 2017. "Technological capabilities and supply chain resilience of firms: A relational analysis using Total Interpretive Structural Modeling (TISM)," Technological Forecasting and Social Change, Elsevier, vol. 118(C), pages 161-169.
    20. Huang, Jing & Yang, Wensheng & Tu, Yiliu, 2020. "Financing mode decision in a supply chain with financial constraint," International Journal of Production Economics, Elsevier, vol. 220(C).
    21. Ivanov, Dmitry & Dolgui, Alexandre, 2021. "OR-methods for coping with the ripple effect in supply chains during COVID-19 pandemic: Managerial insights and research implications," International Journal of Production Economics, Elsevier, vol. 232(C).
    22. Joel F. Houston & Chen Lin & Zhongyan Zhu, 2016. "The Financial Implications of Supply Chain Changes," Management Science, INFORMS, vol. 62(9), pages 2520-2542, September.
    23. Dixit, Vijaya & Verma, Priyanka & Tiwari, Manoj Kumar, 2020. "Assessment of pre and post-disaster supply chain resilience based on network structural parameters with CVaR as a risk measure," International Journal of Production Economics, Elsevier, vol. 227(C).
    24. Florian Gerth & Vikash Ramiah & Elissar Toufaily & Glenn Muschert, 2021. "Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 215-225, December.
    25. Alexandre Dolgui & Dmitry Ivanov, 2021. "Ripple effect and supply chain disruption management: new trends and research directions," International Journal of Production Research, Taylor & Francis Journals, vol. 59(1), pages 102-109, January.
    26. Zhen, Xueping & Shi, Dan & Li, Yongjian & Zhang, Chu, 2020. "Manufacturer’s financing strategy in a dual-channel supply chain: Third-party platform, bank, and retailer credit financing," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 133(C).
    27. Marie-Anne Cam & Vikash Ramiah, 2014. "The influence of systematic risk factors and econometric adjustments in catastrophic event studies," Review of Quantitative Finance and Accounting, Springer, vol. 42(2), pages 171-189, February.
    28. Dmitry Ivanov & Alexandre Dolgui, 2020. "Viability of intertwined supply networks: extending the supply chain resilience angles towards survivability. A position paper motivated by COVID-19 outbreak," International Journal of Production Research, Taylor & Francis Journals, vol. 58(10), pages 2904-2915, May.
    29. Li, Yuhong & Zobel, Christopher W. & Seref, Onur & Chatfield, Dean, 2020. "Network characteristics and supply chain resilience under conditions of risk propagation," International Journal of Production Economics, Elsevier, vol. 223(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Elissa Dwi Lestari, 2022. "The Effect of Financial Literacy, Cost of Technology Adoption, Technology Perceived Usefulness, and Government Support on MSMEs' Business Resilience ," GATR Journals gjbssr620, Global Academy of Training and Research (GATR) Enterprise.
    2. Rami Aljadiri & Balan Sundarakani & May El Barachi, 2023. "Evaluating the Impact of COVID-19 on Multimodal Cargo Transport Performance: A Mixed-Method Study in the UAE Context," Sustainability, MDPI, vol. 15(22), pages 1-31, November.
    3. Anubhav Mishra & Anuja Shukla, 2023. "Gyan Fresh: Digital Transformation of Dairy Business with Resilience and Technology Innovation," FIIB Business Review, , vol. 12(1), pages 20-30, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matthias Klumpp & Dominic Loske, 2021. "Sustainability and Resilience Revisited: Impact of Information Technology Disruptions on Empirical Retail Logistics Efficiency," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    2. Iftikhar, Anas & Purvis, Laura & Giannoccaro, Ilaria, 2021. "A meta-analytical review of antecedents and outcomes of firm resilience," Journal of Business Research, Elsevier, vol. 135(C), pages 408-425.
    3. S. M. Misbauddin & Mohammad Jahangir Alam & Chitra Lekha Karmaker & Md. Noor Un Nabi & Md. Mahedi Hasan, 2023. "Exploring the Antecedents of Supply Chain Viability in a Pandemic Context: An Empirical Study on the Commercial Flower Supply Chain of an Emerging Economy," Sustainability, MDPI, vol. 15(3), pages 1-19, January.
    4. Dubey, Rameshwar & Bryde, David J. & Dwivedi, Yogesh K. & Graham, Gary & Foropon, Cyril & Papadopoulos, Thanos, 2023. "Dynamic digital capabilities and supply chain resilience: The role of government effectiveness," International Journal of Production Economics, Elsevier, vol. 258(C).
    5. Rinaldi, Marta & Bottani, Eleonora, 2023. "How did COVID-19 affect logistics and supply chain processes? Immediate, short and medium-term evidence from some industrial fields of Italy," International Journal of Production Economics, Elsevier, vol. 262(C).
    6. Aldrighetti, Riccardo & Battini, Daria & Ivanov, Dmitry & Zennaro, Ilenia, 2021. "Costs of resilience and disruptions in supply chain network design models: A review and future research directions," International Journal of Production Economics, Elsevier, vol. 235(C).
    7. Rozhkov, Maxim & Ivanov, Dmitry & Blackhurst, Jennifer & Nair, Anand, 2022. "Adapting supply chain operations in anticipation of and during the COVID-19 pandemic," Omega, Elsevier, vol. 110(C).
    8. Chervenkova, Tanya & Ivanov, Dmitry, 2023. "Adaptation strategies for building supply chain viability: A case study analysis of the global automotive industry re-purposing during the COVID-19 pandemic," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 177(C).
    9. Maureen S. Golan & Laura H. Jernegan & Igor Linkov, 2020. "Trends and applications of resilience analytics in supply chain modeling: systematic literature review in the context of the COVID-19 pandemic," Environment Systems and Decisions, Springer, vol. 40(2), pages 222-243, June.
    10. Mu, Dong & Ren, Huanyu & Wang, Chao & Yue, Xiongping & Du, Jianbang & Ghadimi, Pezhman, 2023. "Structural characteristics and disruption ripple effect in a meso-level electric vehicle Lithium-ion battery supply chain network," Resources Policy, Elsevier, vol. 80(C).
    11. Li, Guo & Xue, Jing & Li, Na & Ivanov, Dmitry, 2022. "Blockchain-supported business model design, supply chain resilience, and firm performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 163(C).
    12. Zhang, Wen & Yan, Shaoshan & Li, Jian & Tian, Xin & Yoshida, Taketoshi, 2022. "Credit risk prediction of SMEs in supply chain finance by fusing demographic and behavioral data," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 158(C).
    13. Vimal K.E.K & Simon Peter Nadeem & Mahadharsan Ravichandran & Manavalan Ethirajan & Jayakrishna Kandasamy, 2022. "Resilience strategies to recover from the cascading ripple effect in a copper supply chain through project management," Operations Management Research, Springer, vol. 15(1), pages 440-460, June.
    14. Md. Tarek Chowdhury & Aditi Sarkar & Sanjoy Kumar Paul & Md. Abdul Moktadir, 2022. "A case study on strategies to deal with the impacts of COVID-19 pandemic in the food and beverage industry," Operations Management Research, Springer, vol. 15(1), pages 166-178, June.
    15. Ozdemir, Dilek & Sharma, Mahak & Dhir, Amandeep & Daim, Tugrul, 2022. "Supply chain resilience during the COVID-19 pandemic," Technology in Society, Elsevier, vol. 68(C).
    16. Shashi & Piera Centobelli & Roberto Cerchione & Myriam Ertz, 2020. "Managing supply chain resilience to pursue business and environmental strategies," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1215-1246, March.
    17. Shoufeng Ji & Pengyun Zhao & Tingting Ji, 2023. "A Hybrid Optimization Method for Sustainable and Flexible Design of Supply–Production–Distribution Network in the Physical Internet," Sustainability, MDPI, vol. 15(7), pages 1-34, April.
    18. Chih-Hung Hsu & Ming-Ge Li & Ting-Yi Zhang & An-Yuan Chang & Shu-Zhen Shangguan & Wan-Ling Liu, 2022. "Deploying Big Data Enablers to Strengthen Supply Chain Resilience to Mitigate Sustainable Risks Based on Integrated HOQ-MCDM Framework," Mathematics, MDPI, vol. 10(8), pages 1-35, April.
    19. Agarwal, Vernika & Mathiyazhagan, K. & Malhotra, Snigdha & Pimpunchat, Busayamas, 2023. "Building resilience for sustainability of MSMEs post COVID-19 outbreak: An Indian handicraft industry outlook," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    20. Tuhin Sengupta & Gopalakrishnan Narayanamurthy & Roger Moser & Vijay Pereira & Devleena Bhattacharjee, 2022. "Disruptive Technologies for Achieving Supply Chain Resilience in COVID-19 Era: An Implementation Case Study of Satellite Imagery and Blockchain Technologies in Fish Supply Chain," Information Systems Frontiers, Springer, vol. 24(4), pages 1107-1123, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jofsma:v:26:y:2021:i:4:d:10.1057_s41264-021-00118-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.