J 2020

COVID-19: Implications for the Business Models

ADÁMEK, Pavel a Lucie MEIXNEROVÁ

Základní údaje

Originální název

COVID-19: Implications for the Business Models

Autoři

ADÁMEK, Pavel (203 Česká republika, domácí) a Lucie MEIXNEROVÁ (203 Česká republika, domácí)

Vydání

Journal of Applied Economic Sciences, Journal of Applied Economic Sciences, 2020, 2393-5162

Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Obor

50204 Business and management

Stát vydavatele

Rumunsko

Utajení

není předmětem státního či obchodního tajemství

Odkazy

Kód RIV

RIV/47813059:19520/20:A0000179

Organizační jednotka

Obchodně podnikatelská fakulta v Karviné

Klíčová slova anglicky

COVID-19 pandemic; business model adaptation; business model ecosystem; European Union; firm behavior; technological change

Příznaky

Mezinárodní význam, Recenzováno
Změněno: 2. 3. 2021 11:14, Ing. Lucie Meixnerová, Ph.D.

Anotace

V originále

This paper analyzes the impact of COVID-19 on selected economic indicators of the European Union to bridge these impacts "marked as triggers" of changes to business models. The logic of the focus lies in the interconnection and integration of external changes in the connection of the reaction of managerial decisions for change, adaptability, and adjustment of the business model in newly formed economic systems. Economies are affected by the effects of the ongoing pandemic as part of restrictive and health-related measures, where there is a direct link to the performance of businesses that need to adapt to ongoing changes in response to the COVID-19 pandemic. Our survey is mainly based on reviews in articles COVID-19 on business activities which enable businesses to share knowledge, decisions, and prospects including analysis of selected indicators as an industry, construction, wholesale and retail trade, and services when the Eurostat statistical data (2020b) are used. We combine the approach of mapping of literature review associated with the impact of a pandemic on business and impact analysis within the European Union on the economic indicators. Subsequently, we examine what and how businesses can do to respond quickly to the stimuli, our main focus is on business models that allow to quickly operationalize the current business situation and then take measures to create a basis for sustainability. The output is a discussion and proposals for the necessary business model shifts so that companies are resilient, flexible, capture value in the long term. For businesses looking to establish update business models during COVID19, we recognize that hiring entirely new models maybe not feasible. We focus on viability updates business models over fully comprehensive functions after crises COVID-19. We develop managerial recommendations for the growing demand for innovation and flexibility for the resilience business model to adapt to the new changed “post COVID” business environment.