Bìznes Inform (Oct 2022)
The Management Activities in International Companies in the Post-COVID Period
Abstract
The global COVID-19 pandemic has caused significant uncertainty in international business. This is due to the fact that the spread of the virus significantly affects the State policy on social restrictions, as well as on the economic behavior of the population, which, in turn, leads to the development of crisis phenomena in business. Therefore, international companies must adopt new corporate behaviors that are in line with proper health protocols, but taking into account the existing significant differences in the activities of these companies. The aim of the study is to identify the features of the transformation of management activities in international companies in the post-COVID period. The study was conducted using methods of theoretical generalization, comparative analysis, synthesis, induction and deduction, which allowed to establish the risk factors of the COVID-19 pandemic for business, as well as their impact on the formation of a management strategy for international companies in the post-COVID period. As a result of the analysis of factual material, approaches to business risks management in connection with the COVID-19 pandemic are summarized. They include the study of macro- and micro-risks from an economic point of view and their impact on consumer behavior along wuth purchasing power. As result of the pandemic, businesses have experienced difficulties owing to a decrease in trade turnover caused by a decrease in consumer demand. It is proved that the easing of social restrictions on economic activity with regard to the danger of transmission of COVID-19 should be interpreted taking into account possible risks for international companies. That is, there is a need to transform risks management in international companies as response to COVID-19. It must be carried out in a disciplined manner and with zero tolerance for any negligence. It is substantiated that the new model of management activities of an international company should help control the spread of COVID-19 and, accordingly, should include three main stages – planning, introducing, and embedding. Future research in this scientific field will be more focused on the development of a risk management instrumentarium, based on the differentiated needs of international companies, which are due to the presence of significant differences in their activities.
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