The challenges underlying firm revival and resilience in the Post-COVID-19 phase

C Amenta, AML Destri, G Levanti, P Di Betta - COVID-19 and Communities …, 2022 - Springer
COVID-19 and Communities: The University of Palermo's Voices and Analyses …, 2022Springer
COVID-19 is an exogenous shock that has deeply modified the basic building blocks and
the micro-mechanisms on which socio-economic systems and organizations rest. The vast
majority of both factor markets and final markets have been significantly disrupted on a
worldwide scale. As all factors that determine severe crises, the COVID-19 pandemic is a
low probability and high impact shock which has significantly changed the environment in
which firms operate (Grewal and Tansuhaj 2001; Hudecheck et al. 2020). Such changes …
Abstract
COVID-19 is an exogenous shock that has deeply modified the basic building blocks and the micro-mechanisms on which socio-economic systems and organizations rest. The vast majority of both factor markets and final markets have been significantly disrupted on a worldwide scale. As all factors that determine severe crises, the COVID-19 pandemic is a low probability and high impact shock which has significantly changed the environment in which firms operate (Grewal and Tansuhaj 2001; Hudecheck et al. 2020). Such changes have nonetheless been asymmetric, while they have menaced the survival of a huge number of firms and have brought to their knees many key industries, it has also ignited rapid growth in consolidated or new fields. While entire industries such as tourism, Ho.re.ca, traditional retail are suffering huge losses, existent firms or star-ups in fields related to addressing the COVID-19 pandemic challenge, such as firms in pharmaceutical and medical industries connected to tracing, testing and diagnostics, treatment, and vaccination, as well as industries connected to digital technology development and distribution, healthcare, home computing, and working have experienced exponential growth opportunities.
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