Crisis Management: A Study of COVID-19 and its Effect on Business Management and Innovation

Abstract

This paper has been created with the intent of answering the question of how has the COVID-19 pandemic affected the business world? This question has been answered this broad question by breaking it down into three more focused questions: What is the COVID-19 pandemic? How have businesses responded to the COVID-19 pandemic and the restrictions it has placed on them? And what role has innovation played in the business response to the COVID-19 pandemic? These questions are all answered through a literature review of various academic articles that have been compiled to provide various perspectives and resources to build an understanding of the impact that the COVID-19 pandemic has had on the business world and what innovations and improvements have been sought by businesses to help alleviate the stress that the COVID-19 pandemic and various government restrictions have placed on them. This literature review provides ample data and sources to build a structure for a basic review of the early impacts of the COVID-19 pandemic on businesses and the economies of the world. This paper does use the literature review to build an understanding that innovation, collaboration, and communication have been major components of a successful business response to the COVID-19 pandemic and should be major considerations for any business moving forward. This paper has also made the determination that while this information has helped to build an understanding of the short-term impact of a major crisis, additional research should be conducted to better understand the medium- and long-term impacts that a major crisis can have on both businesses and employees.

Year Manuscript Completed

Fall 2022

Senior Project Advisor

Tricia Jordan, PhD

Degree Awarded

Bachelor of Integrated Studies Degree

Field of Study

Commerce & Leadership

Document Type

Thesis

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