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Impact of COVID-19 Crisis, Global Transformation Approaches and Emerging Organisational Adaptations: Towards a Restructured Evolutionary Perspective

Author

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  • Vlados, Charis

    (Democritus University of Thrace, Department of Economics)

  • Chatzinikolaou, Dimos

    (Democritus University of Thrace, Department of Economics)

Abstract

The pandemic crisis of COVID-19, despite its unforeseen and explosive spread, constitutes a structural disturbance of global socio-economic balances. Through the fourth industrial revolution and amid the unexpected and profound recessionary economic pressures on a global scale, our world is heading towards a “new globalisation.” Exploring the economic and social implications of the COVID-19 crisis through several theoretical tools for interpreting the current global transformation, we conclude that the global economy is facing a severe threat. A renewed evolutionary theoretical interpretation seems imperative, and any perseverance to simplified and strictly fragmentary past approaches can only be ineffective. In this context, the long-term and sustainable exit of this crisis seems to require multiform organisational adaptations, at all levels of operation and by all actors, that can come only with the joint dynamics of innovation and effective change management.

Suggested Citation

  • Vlados, Charis & Chatzinikolaou, Dimos, 2021. "Impact of COVID-19 Crisis, Global Transformation Approaches and Emerging Organisational Adaptations: Towards a Restructured Evolutionary Perspective," DUTH Research Papers in Economics 16-2021, Democritus University of Thrace, Department of Economics.
    • Handle: RePEc:ris:duthrp:2021_016
    Note: In Business Under Crisis: Volume II (Contextual Transformations and Organisational Adaptations) (pp. 65-90). Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business (2021)
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    More about this item

    Keywords

    COVID-19; organisational adaptation; innovation; evolutionary economics; digital transformation; new globalisation; change management;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • F69 - International Economics - - Economic Impacts of Globalization - - - Other
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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