Challenges and Opportunities Created in Business Due to Pandemic Coronavirus and Strategic & Tactics to Manage Critical Conditions
DOI:
https://doi.org/10.31695/IJERAT.2022.8.6.1Keywords:
Coronavirus Pandemic, Economic Recovery, Business, Crisis Management, Value Chain, Supply ChainAbstract
Nowadays, the rapid spread of Severe Acute Respiratory Syndrome (DCS) has led to a worldwide outbreak that has created many challenges for businesses: small and medium-sized businesses. However, small and medium-sized businesses face large industries and have many advantages over them; including added value, innovation, job creation, and more flexibility. The borderless coronavirus has also affected the economic situation, higher and lower prices of commercial goods, the relationships between countries and their governments, the opinions and projects of experts and economists throughout the world, and those countries' exports and imports in different areas. The closure and reduction of the level of economic activity have resulted in a reduction in labor and a reduction in labor demand and supply. As a result, as a result of the reduced capacity to collect taxes on economic activities and the measures needed to support businesses and those affected and increase government health care spending, the government's budgetary deficit will increase. In this paper, we attempted to examine the economic effects of the virus epidemic on businesses and economic activities at various levels. There should also be an examination of its positive and negative consequences for the organization. Finally, possible economic recovery scenarios of countries and crisis management solutions and immediate actions for businesses in times of coronavirus pandemic crisis are presented. Generally, this article attempts to provide solutions and experiences to be effective for businesses and help them safely overcome the barrier of critical conditions. Though, this can be accomplished by developing knowledge, raising awareness, and gathering information and experiences from others.
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