Strategic Management During a Pandemic

272 Pages·2021·4.888 MB·English

by  Vikas Kumar (editor), Gaurav Gupta (editor)

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Strategic Management
During a Pandemic
The COVID- 19 pandemic changed world dynamics, working scenarios,
as well as professional and emotional dimensions. The virus has emerged
as a significant threat for the continuity of business. Keeping the gravity
of the problem in mind, companies must understand the need for change
and must now update their strategy to account for pandemics.
The next pandemic may be more severe than the current one, meaning
that organizations need to devise mechanisms and business models to
fight with these situations and maintain business continuity. They should
not only look forward to saving plants, machinery and infrastructure, but
also concentrate on employee welfare, customer engagement and satisfac-
tion during this crisis time. The book will not only present the evidence of
various effective solutions to run a business in the time of a pandemic, but
also put forward the new models and practices of business being followed
by people at the time of crisis. It aims to create a bridge between existing
business models and proposed business solutions, focusing on existing
theories and most importantly case studies from the recent happenings.
This rich collection of chapters will provide insights regarding the
business challenges, opportunities and practices during pandemic situ-
ations like COVID- 19, making it particularly valuable to researchers,
academics and students in the fields of strategic management, leadership
and disaster management.
Vikas Kumar is a professor at Chaudhary Bansi Lal University, Bhiwani,
India.
Gaurav Gupta is an assistant professor of Marketing at CHRIST (Deemed
to be University), NCR, India.
ii
Routledge Research in Strategic Management
This series explores, develops and critiques the numerous models and
frameworks designed to assist in strategic decision- making in internal
and external environments. It publishes scholarly research in all meth-
odologies and perspectives that comprise the discipline, and welcomes
diverse multi- disciplinary research methods, including qualitative and
quantitative studies, and conceptual and computational models. It also
welcomes the practical application of the strategic management process
to a business world inspired by new economic paradigms.
Strategic Analysis
Processes and Tools
Andrea Beretta Zanoni
Strategic Management and the Circular Economy
Marcello Tonelli and Nicoló Cristoni
Strategic and Innovative Pricing
Price Models for a Digital Economy
Mathias Cöster, Einar Iveroth, Nils- Göran Olve, Carl- Johan Petri
and Alf Westelius
Competitive International Strategy
Key Implementation Issues
Edited by Anders Pehrsson
Ambidextrous Strategy
Antecedents, Strategic Choices, and Performance
Agnieszka Zakrzewska- Bielawska
Strategic Management During a Pandemic
Edited by Vikas Kumar and Gaurav Gupta
iii
Strategic Management
During a Pandemic
Edited by
Vikas Kumar and Gaurav Gupta
iv
First published 2022
by Routledge
605 Third Avenue, New York, NY 10158
and by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2022 selection and editorial matter, Vikas Kumar and Gaurav Gupta;
individual chapters, the contributors
The right of Vikas Kumar and Gaurav Gupta to be identified as the authors
of the editorial material, and of the authors for their individual chapters,
has been asserted in accordance with sections 77 and 78 of the Copyright,
Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced or utilised
in any form or by any electronic, mechanical, or other means, now known or
hereafter invented, including photocopying and recording, or in any information
storage or retrieval system, without permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks or registered trademarks,
and are used only for identification and explanation without intent to infringe.
Library of Congress Cataloging- in- Publication Data
Names: Kumar, Vikas (Writer on industrial management), editor. |
Gupta, Gaurav, 1986-editor.
Title: Strategic management during a pandemic / edited by Vikas Kumar
and Gaurav Gupta.
Description: New York, NY : Routledge, 2022. |
Series: Routledge research in strategic management ; 6 |
Includes bibliographical references and index.
Identifiers: LCCN 2021009828 (print) | LCCN 2021009829 (ebook) |
ISBN 9780367646479 (hardback) | ISBN 9780367646509 (paperback) |
ISBN 9781003125648 (ebook)
Subjects: LCSH: Strategic planning. | Organizational change. |
Crisis management. | COVID-19 (Disease)–Economic aspects.
Classification: LCC HD30.28 .S73956 2022 (print) |
LCC HD30.28 (ebook) | DDC 658.4/012–dc23
LC record available at https://lccn.loc.gov/2021009828
LC ebook record available at https://lccn.loc.gov/2021009829
ISBN: 978- 0- 367- 64647- 9 (hbk)
ISBN: 978- 0- 367- 64650- 9 (pbk)
ISBN: 978- 1- 003- 12564- 8 (ebk)
DOI: 10.4324/ 9781003125648
Typeset in Sabon
by Newgen Publishing UK
v
Contents
List of Figures vii
List of Tables viii
About the Contributors ix
Foreword by Professor K.K. Aggarwal xviii
Foreword by Dr. (Fr.) Viju P. Devassy xix
Preface xxi
Acknowledgments xxv
1 Precursor to Lockdown Economies 1
PRABHAT PANKAJ, VARUN CHOTIA, VRANDA JAIN AND
TAVISHI TEWARY
2 Global Economy and Business Strategies During
Pandemic: A Multi- Country Analysis 16
RAVINDER RENA AND IFEANYI MBUKANMA
3 Business Diplomacy and Lobbying During Pandemic 31
FAISAL AHMED AND HARDIK GUPTA
4 To Control or to Delegate? Effective Leadership in
Challenging Times 59
EKO LIAO, AMY YAMEI WANG AND CHERYL QIANRU ZHANG
5 Managing Efficiency and Effectiveness in the
“New Normal” Work Environment 79
SHAMEEM SHAGIRBASHA
6 Managing Customer Relationships During
Uncertainty: A Case of B2B Firms 98
MIKKO MÄNTYNEVA
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vi Contents
7 Manufacturing vs Services: The Pandemic Impact 118
ARCHANA CHOUDHARY AND MANOJ GOUR CHINTALURI
8 Government Policies During Pandemic: Indonesian vs
Sri Lankan Perspective 138
HOTNIAR SIRINGORINGO AND RAVINDRA HEWA KURUPPUGE
9 Bailouts and Government Support During Pandemic 155
MOHIT REWARI AND VIBHA KALRA
10 Triple Bottom Line During Pandemic 178
AKANKSHA JAIN, PRIYAM MENDIRATTA AND
SMITA KASHIRAMKA
11 Online Learning Trends During the Pandemic:
Case of Service Sector Professionals 196
ARUNAVA DALAL, AJAY KUMAR GANGULY AND
SUBRATA CHATTOPADHYAY
12 Global Impact of COVID- 19 on the Manufacturing
Industry and Supply Chain Management: An Indian
Perspective 221
PRAVIN KUMAR AND ANU GUPTA
Index 238
vii
Figures
1.1 Government responses to support MSMEs 9
1.2 Plan to deal with COVID- 19 10
5.1 The performance pyramid 82
5.2 The balanced scorecard 83
5.3 The performance prism 85
6.1 Conceptual framework on managing uncertainty in
B2B customer relationships 107
10.1 Constituents of TBL 180
10.2 Key areas receiving COVID- related CSR in India 183
11.1 Scree plot 211
11.2 Different phases of the proposed model 215
12.1 A framework for linkage of supply of relief materials to
the people engaged in different sectors 230
viii
Tables
2.1 Global economy indicators and variables affected by
the pandemic 17
5.1 Comparison between efficiency and effectiveness 81
5.2 Comparison between traditional and agile performance
management systems 86
5.3 Respondent’s Profile 89
6.1 Main uncertainties while managing customer
relationships due to COVID- 19 109
6.2 Measures of counteracting identified uncertainties due
to COVID- 19 111
9.1 A snapshot of the bailout packages 164
10.1 Contributions by Indian companies to battle COVID- 19 190
11.1 Knowledge management models 199
11.2 Gender- wise distribution 205
11.3 Age group- wise distribution 205
11.4 Industry- wise distribution 206
11.5 Reliability statistics 206
11.6 Item – total statistics 207
11.7 Inter- item correlation matrix 208
11.8 KMO and Bartlett’s test 209
11.9 Total variance explained 210
11.10 Communalities 210
11.11 Related component matrix 211
11.12 Name of the two key factors 212
11.13 Testing of Hypothesis 1 213
11.14 Testing of Hypothesis 2 213
11.15 Testing of Hypothesis 3 214
11.16 Testing of Hypothesis 4 214
12.1 Ease of doing business ranking 227
12.2 The Global Competitiveness Index 4.0 2019 rankings 228
12.3 Production capacity in China might move to the
country preference list 228
12.4 Z- score of WWTG index 229
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About the Contributors
Faisal Ahmed is an associate professor of International Business at
FORE School of Management, New Delhi, India. He holds PhD and
master’s degrees from India and an executive certification in geopolit-
ical analysis from Geneva. His research and consulting areas include
Indo- Pacific/ China trade and geopolitics, economic integration, South-
South Cooperation, and, ocean diplomacy. He held the position of
consultant to the United Nations and other organizations. He has
led projects supported by the Ministry of Commerce and Industry,
Government of India. Dr. Ahmed has published research papers in
journals indexed in Scopus, Clarivate and ABDC. He has published
one textbook, two edited books, several research papers as well as art-
icles in leading newspapers including The Hindu Business Line, The
Economic Times, South China Morning Post and The Straits Times,
among others. He is frequently interviewed as an expert by national
and international media including Rajya Sabha TV, Vietnam TV and
the BBC.
Subrata Chattopadhyay is an MSc, MBA and PhD from IIT- ISM
Dhanbad, and is currently a professor at the University of Engineering
and Management, Kolkata. He has contributed to more than 40 inter-
national journals and published more than 23 papers in conferences.
Besides, he has authored three books on Computations in Estate
Management, Transport Management and Values and Ethics for
Engineers and Managers and was editor of the book published at the
Sustainable Development Conference, MDI Murshidabad, 2018. He
has also published three cases in Scopus- indexed journals. He is on the
editorial board of five international journals and has been conferred
the prestigious Certified Management Teacher by MTC-G lobal for his
innovative and dedicated teaching. He has successfully chaired and
been invited as keynote speaker in several conferences in South Asia.
He was conferred the prestigious MTC Global Top Thinkers award
in 2015. In 2019 he was awarded Mentor of the Year by HRD India.
Manoj Gour Chintaluri is a management professional with over 25 years
of experience at various levels of leadership in industries across