Abstract
The COVID-19 pandemic has confronted the economies in CEE with a drastic external shock. The CEE region was one of the hardest hit in the world. In this study, we wanted to analyze the impact of the COVID-19 pandemic on companies and industries in CEE and their strategic responses. The focus was on strategic and functional responses and the overall type of strategic posture towards the crisis.
To identify the responses a content analysis of the annual reports 2020 of 50 listed companies from the EU-CEE11 and Austria was used.
The companies could be assigned to three strategic postures: Persevering (48% of firms), mixed (32%) and proactive (20%). No pure defensive strategic orientation was found.
Health & safety measures, focus on risk management and liquidity maintenance were the most often mentioned responses. But firms also engaged in product and process innovation – more than it was expected. Digitalization pervades the innovation activities, organizational redesign as well as human resources. Latter have become a center of management attention as the protection of the health of employees and the introduction of new work arrangements shows. It seems that the crisis and its management is really different this time.
To identify the responses a content analysis of the annual reports 2020 of 50 listed companies from the EU-CEE11 and Austria was used.
The companies could be assigned to three strategic postures: Persevering (48% of firms), mixed (32%) and proactive (20%). No pure defensive strategic orientation was found.
Health & safety measures, focus on risk management and liquidity maintenance were the most often mentioned responses. But firms also engaged in product and process innovation – more than it was expected. Digitalization pervades the innovation activities, organizational redesign as well as human resources. Latter have become a center of management attention as the protection of the health of employees and the introduction of new work arrangements shows. It seems that the crisis and its management is really different this time.
| Titel in Übersetzung | Strategische Reaktionen regionaler Player in Mittel- und Osteuropa auf die COVID-19 Pandemie |
|---|---|
| Originalsprache | Englisch |
| Titel des Sammelwerks | Conference Booklet - 8th Annual Academy of International Business CEE Chapter Conference on "Knowledge and Sustainability in International Business" |
| Herausgeber*innen | Blazenka Knezevic |
| Erscheinungsort | Zagreb |
| Verlag | University of Zagreb |
| Seiten | 106-110 |
| Seitenumfang | 5 |
| ISBN (Print) | 978-953-346-187-8 |
| Publikationsstatus | Veröffentlicht - 2022 |