Entrepreneurial Innovative Business Strategies for COVID-19 Impact Minimization to Enhance Sustainability

Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs Pub Date : 1900-01-01 DOI:10.4018/978-1-7998-7436-2.CH010

B. S. Tubulingane

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Abstract

The COVID-19 outbreak has caused a global health emergency and economic slowdown. The negative impact of COVID-19 has mostly been experienced by entrepreneurs. This is because entrepreneurs in the COVID-impacted sectors such as tourism are likely to lose 50% to 80% of their turnover. As a result, businesses around the world need to come up with sustainable and innovative solutions to avoid economic disruptions due to pandemics like COVID-19. To remain sustainable, businesses redirected their production to products and services that contributed to the fight against COVID-19. Thus, businesses adopted modern work practices that are based on deliverable rather than time spent at workplaces. Globally, many companies have turned to ICTs to deliver their products and services to customers using online platforms. This chapter argues that businesses need insurances that cover financial losses due to pandemic outbreaks. Hence, universities need to take the lead in research to advise businesses on the strategies to be undertaken during a crisis like COVID-19.

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企业创新业务战略，以最大限度地减少COVID-19影响，提高可持续性

新冠肺炎疫情已造成全球卫生紧急情况和经济放缓。COVID-19的负面影响主要是由企业家经历的。这是因为受新冠疫情影响的行业(如旅游业)的企业家可能会损失50%至80%的营业额。因此，世界各地的企业需要提出可持续和创新的解决方案，以避免因COVID-19等大流行造成的经济中断。为保持可持续发展，企业将生产转向有助于抗击COVID-19的产品和服务。因此，企业采用了基于可交付性而不是在工作场所花费的时间的现代工作实践。在全球范围内，许多公司已转向信息通信技术，通过在线平台向客户提供产品和服务。本章认为，企业需要保险来弥补由于流行病爆发而造成的经济损失。因此，大学应该带头进行研究，为企业提供应对新冠肺炎等危机的对策建议。

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Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs

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