Sustaining Enterprise Operations and Productivity during the COVID-19 Pandemic: “Enterprise Effectiveness and Sustainability Model”

Bojan Obrenovic, Jianguo Du, Danijela Godinic, Diana Tsoy, Muhammad Aamir Shafique Khan and Ilimdorjon Jakhongirov
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Bojan Obrenovic: School of Management, Jiangsu University, Zhenjiang 212013, China
Jianguo Du: School of Management, Jiangsu University, Zhenjiang 212013, China
Danijela Godinic: Faculty of Philosophy, University of Zagreb, 10000 Zagreb, Croatia
Diana Tsoy: School of Media, Shanghai Jiaotong University, Shanghai 200240, China
Muhammad Aamir Shafique Khan: School of Management, Jiangsu University, Zhenjiang 212013, China
Ilimdorjon Jakhongirov: Ministry of Health of the Republic of Uzbekistan, Tashkent 100011, Uzbekistan

Sustainability, 2020, vol. 12, issue 15, 1-27

Abstract: The research explores key factors impacting enterprise operational sustainability and the ability to transcend adversity during different stages of a crisis, such as the COVID-19 pandemic. The current study draws from the Theory of Crisis Management Teams, the Stakeholder Theory, and the Distributed Cognition Theory to build an “Enterprise Effectiveness and Sustainability Model during Pandemic.” Existing theoretical background joint with contemporary success case studies helped to identify the essential aspects and strategies enterprises should employ to survive and thrive during crisis and post-crisis. We have conceptualized an innovative approach to COVID-19 from the perspective of organizational characteristics, operations, digital transformation, and financial planning. The findings suggest that enterprises having distributed leadership, workforce and adaptive culture sustain business operations during a pandemic. Furthermore, resilient enterprises allow for more informed and decentralized decision-making. Prosperous organizations leverage Internet and Communication Technology (ICT) and integrate Intranet, social media, and online communication platforms into their daily business routines, as this helps to establish trust and build bonds with employees, stakeholders, and customers during and post-crisis. Finally, balancing between the stockpiling of resources and resiliency is crucial in anticipation of a crisis. Therefore, we conclude that enterprises with financial contingency plans sustain their business operations during a pandemic.

Keywords: COVID-19 business implications; sustainability in crisis; COVID-19 management; sustainable enterprise; enterprise effectiveness; pandemic sustainability model; enterprise sustainability; COVID-19 (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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