COVID-19 Pandemic Implications for Corporate Sustainability and Society: A Literature Review

Ruixin Su, Bojan Obrenovic, Jianguo Du, Danijela Godinic and Akmal Khudaykulov
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Ruixin Su: School of Management, Jiangsu University, Zhenjiang 212013, China
Bojan Obrenovic: School of Management, Jiangsu University, Zhenjiang 212013, China
Jianguo Du: School of Management, Jiangsu University, Zhenjiang 212013, China
Danijela Godinic: Faculty of Humanities and Social Sciences, University of Zagreb, 10000 Zagreb, Croatia
Akmal Khudaykulov: School of Management, Huazhong University of Science and Technology, Wuhan 430074, China

IJERPH, 2022, vol. 19, issue 3, 1-23

Abstract: The paper revises the ample empirical and theoretical literature on sustainable organizational growth and strategic leadership relating to the critical aspects of the ongoing pandemic, including poverty, social responsibility, public health, and organizational and managerial innovation. Drawing from available COVID-19, management, and sustainable leadership publications released from 2020 to 2021, this paper considers influential studies exploring core business concepts, principles, philosophies, and activities for accelerating, stimulating, and nurturing social and corporate sustainability. The study analyzed the characteristics and interrelation of 133 articles through bibliometric and literature systemization techniques. We shed light on the significant influence COVID-19 has had on financial, operational, and psychological solvency and organizational health to elucidate expectations and implications for businesses worldwide concerning the long-term financial and functional impact of COVID-19. An overview of the relevant studies on the individual, organizational, and external factors relating to novel disease’s relation to sustainability are provided. We emphasize the need for digital transformation following the COVID-19 upheaval and throughout the upcoming years. Some of the generally employed techniques in response to adversity entail portfolio diversification, service delivery innovation, product redesigning, new market development, partnering with competitors and/or complementary service providers, synergizing with other stakeholders, and open innovation.

Keywords: corporate sustainability; COVID-19 pandemic; crisis management; leadership; digital transformation (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

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