COVID-19: Implications for the Business Models

@article{48460,
   author = {Adámek, Pavel and Meixnerová, Lucie},
   article_number = {70},
   keywords = {COVID-19 pandemic; business model adaptation; business model ecosystem; European Union; firm behavior; technological change},
   language = {eng},
   issn = {2393-5162},
   journal = {Journal of Applied Economic Sciences},
   title = {COVID-19: Implications for the Business Models},
   url = {http://cesmaa.org/Docs/Winter/JAES%20VolumeXV%20Issue4(70)Winter2020_13.pdf},
   volume = {4},
   year = {2020}
}

TY  - JOUR
ID  - 48460
AU  - Adámek, Pavel - Meixnerová, Lucie
PY  - 2020
TI  - COVID-19: Implications for the Business Models
JF  - Journal of Applied Economic Sciences
VL  - 4
IS  - 70
SP  - 860-877
EP  - 860-877
PB  - Journal of Applied Economic Sciences
SN  - 23935162
KW  - COVID-19 pandemic
KW  - business model adaptation
KW  - business model ecosystem
KW  - European Union
KW  - firm behavior
KW  - technological change
UR  - http://cesmaa.org/Docs/Winter/JAES%20VolumeXV%20Issue4(70)Winter2020_13.pdf
N2  - 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.
ER  - 

ADÁMEK, Pavel a Lucie MEIXNEROVÁ. COVID-19: Implications for the Business Models. \textit{Journal of Applied Economic Sciences}. Journal of Applied Economic Sciences, 2020, roč.~4, č.~70, s.~860-877. ISSN~2393-5162.