Unleashing the financial aspect of Covid-19: How organizations managed the crisis?

Abstract

AbstractGlobally the COVID-19 pandemic has had a significant impact on both individuals and organizations. Challenges on the financial, psychological, and physical levels have been felt, especially in the business sector. The purpose of this research is to examine how COVID-19 has financially affected firms in Pakistan and the United States. In order to do this, surveys and interviews with experts in various business disciplines were carried out to utilize convenience and snowball sampling techniques. Partial least squares (Smart PLS) statistical analysis employing structural equation modeling was used in the research. The results showed that COVID-19 greatly impacted the workers’ financial and psychological health. The research also demonstrated that moderators were crucial in lessening the pandemic’s effects. Discussion in this research also includes the study’s ramifications and practical implications.

Keywords

• Covid-19 pandemic
• financial situation & impact
• uncertain job market & job opportunity