The Impact of the Global Crisis on External Communication in the Circular Economy

Abstract

Research background: We are in a period when the society got into a global crisis. The main trigger was the arrival of a worldwide coronavirus pandemic. The European Union is responding and sending an unprecedented rescue package to help the economies of the individual Member States. In a short time, entrepreneurs are forced to drastically change their strategies to ensure a basic survival in the market. Under the influence of globalization in connection with the crisis, companies are under increasing pressure to base their business activities on the principles of the circular economy. Purpose of the article: The aim of the paper is to analyze the external communication in a particular multinational company and to point out the advantages of applying the principles of the circular economy, used in the conditions of the global economic crisis. Methods: We will analyze theoretical knowledge from domestic and foreign authors. We will analyze external data that will provide us with information about the tools of external communication that are used in the standard period and we will compare them with the external communication used in the current crisis period. Findings & Value added: The contribution of the paper is in pointing to the fact that external communication and communication tools tend to change depending on the specific situation in which the company finds itself, how companies had to adjust their external communication depending on the pandemic in which the whole society found itself.

Keywords

• corporate social responsibility
• circular economy
• crisis
• external communication