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International Journal of Law and Management: A novel approach to conducting business research after COVID-19: incorporating crisis elements in the study frameworks
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Abstract
Purpose – To understand how to deal with high effect situations, like that associated with COVID-19, in the
future, many economists, academics and business leaders are drawing parallels between the 2008 financial
crisis and the current pandemic. This study aims to explore how crisis elements can be considered while
strategizing for business research despite the minimal possibility of an emergency occurring. Also, research
in crisis management is fragmented, resulting in isolated components guiding businesses through crises. This
research emphasizes the relative scarcity of a comprehensive crisis management framework.
Design/methodology/approach – COVID-19 has been the biggest crisis the world has ever confronted,
and businesses require an innovative strategy to address it. Towards keeping the data set involved in this
study targeted and manageable, articles are selected from peer-reviewed journals based on a purposive
sampling method. In addition, the research used reports from consulting firms and government and
nongovernment organizations to understand current trends in business research.
Findings – The findings revealed that for a firm to survive a crisis, it must ensure its plans are aligned with the
trends that would allow it to grow during the crisis. Rather than entirely changing the track, strategies should be guided
by the company’s existing resource availability and capabilities. The techniques used must ensure the company’s
profitability or limit losses, thus ensuring long-term viability. Real-life examples from the current pandemic have shown
how firms who recognized crisis characteristics could survive the pandemic and profitedmultiple times.
Originality/value – It presents an integrated, sector-agnostic crisis management framework based on
literature, business managers’ insights and lessons from the current pandemic. Precrisis, crisis arrival, crisis
management and crisis experience are the four phases of the framework. The study proposes future research
directions to scholars in applying the framework and its enhancement concerning the upcoming crisis possibilities.
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ENGLISH
EMERALD INSIGHT
2023
ENGLAND
JURNAL ILMU HUKUM
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APA Citation
Usha Seshadri. (2023).International Journal of Law and Management:
A novel approach to conducting
business research after COVID-19:
incorporating crisis elements in
the study frameworks.(Electronic Thesis or Dissertation). Retrieved from https://localhost/etd