Impact of COVID-19 Crisis, Global Transformation Approaches and Emerging Organisational Adaptations: Towards a Restructured Evolutionary Perspective

Charis Vlados and Dimos Chatzinikolaou

No 16-2021, DUTH Research Papers in Economics from Democritus University of Thrace, Department of Economics

Abstract: The pandemic crisis of COVID-19, despite its unforeseen and explosive spread, constitutes a structural disturbance of global socio-economic balances. Through the fourth industrial revolution and amid the unexpected and profound recessionary economic pressures on a global scale, our world is heading towards a “new globalisation.” Exploring the economic and social implications of the COVID-19 crisis through several theoretical tools for interpreting the current global transformation, we conclude that the global economy is facing a severe threat. A renewed evolutionary theoretical interpretation seems imperative, and any perseverance to simplified and strictly fragmentary past approaches can only be ineffective. In this context, the long-term and sustainable exit of this crisis seems to require multiform organisational adaptations, at all levels of operation and by all actors, that can come only with the joint dynamics of innovation and effective change management.

Keywords: COVID-19; organisational adaptation; innovation; evolutionary economics; digital transformation; new globalisation; change management (search for similar items in EconPapers)
JEL-codes: B52 F69 M19 O30 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2021-12-01
New Economics Papers: this item is included in nep-ban, nep-evo and nep-hme
Note: In Business Under Crisis: Volume II (Contextual Transformations and Organisational Adaptations) (pp. 65-90). Palgrave Studies in Cross-Disciplinary Business Research, In Association with EuroMed Academy of Business (2021)
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