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The COVID-19 lessons learned for business and governance

Author

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  • Mehtap A. Eklund

    (University of Wisconsin-La Crosse (UWL))

Abstract

Due to the vast number of countries that have been affected, the coronavirus (COVID-19) pandemic has brought about a devastating global financial crisis. This commentary considers the ongoing COVID-19 recession, its global economic impact, the responses from governments, future projections, business and governance lessons learned so far, as well as future research prospects. In doing so, two key questions are considered: what can we draw from this unprecedented ongoing crisis so as not to experience the same scale of pandemic and recession in the future? What did we do wrong and what can be changed for good to reshape our businesses and economies? The author aims to provide key takeaways for resilient and sustainable organizations, corporate governance, and compensation systems.

Suggested Citation

  • Mehtap A. Eklund, 2021. "The COVID-19 lessons learned for business and governance," SN Business & Economics, Springer, vol. 1(1), pages 1-11, January.
    • Handle: RePEc:spr:snbeco:v:1:y:2021:i:1:d:10.1007_s43546-020-00029-2
    DOI: 10.1007/s43546-020-00029-2
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    References listed on IDEAS

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    1. Editorial, 2020. "Covid-19 and Climate Change," Journal, Review of Agrarian Studies, vol. 10(1), pages 5-6, January-J.
    2. Hassan, Tarek & Hollander, Stephan & van Lent, Laurence & Schwedeler, Markus & Tahoun, Ahmed, 2020. "Firm-Level Exposure to Epidemic Diseases: Covid-19, SARS, and H1N1," CEPR Discussion Papers 14573, C.E.P.R. Discussion Papers.
    3. Nicholas A. Ashford & Ralph P. Hall & Johan Arango-Quiroga & Kyriakos A. Metaxas & Amy L. Showalter, 2020. "Addressing Inequality: The First Step Beyond COVID-19 and Towards Sustainability," Sustainability, MDPI, vol. 12(13), pages 1-43, July.
    4. Ai Tashiro & Rajib Shaw, 2020. "COVID-19 Pandemic Response in Japan: What Is behind the Initial Flattening of the Curve?," Sustainability, MDPI, vol. 12(13), pages 1-15, June.
    5. Michael Hilb, 2020. "Toward artificial governance? The role of artificial intelligence in shaping the future of corporate governance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(4), pages 851-870, December.
    6. Ozili, Peterson & Arun, Thankom, 2020. "Spillover of COVID-19: Impact on the Global Economy," MPRA Paper 99317, University Library of Munich, Germany.
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    Cited by:

    1. Yadeta Bedasa & Tsion Tekalign, 2024. "Technical efficiency of smallholder farmers in sesame production (Ethiopia)," SN Business & Economics, Springer, vol. 4(1), pages 1-20, January.
    2. Gaia Sampogna & Maurizio Pompili & Andrea Fiorillo, 2021. "Mental Health in the Time of COVID-19 Pandemic: A Worldwide Perspective," IJERPH, MDPI, vol. 19(1), pages 1-5, December.
    3. Henrique Faverzani Drago & Gilnei Luiz Moura & Luciana Santos Costa Vieira Silva & Claudimar Pereira Veiga & Fabíola Kaczam & Luciana Peixoto Santa Rita & Wesley Vieira Silva, 2023. "Reviewing the relationship between organizational performance, dynamic capabilities and strategic behavior," SN Business & Economics, Springer, vol. 3(1), pages 1-22, January.
    4. Ana Maria Alexie, 2022. "Trends in corporate governance practices at the level of companies listed on the Bucharest Stock Exchange," Journal of Financial Studies, Institute of Financial Studies, vol. 12(7), pages 25-37, May.
    5. Sergej Gričar & Štefan Bojnec, 2022. "Did Human Microbes Affect Tourist Arrivals before the COVID-19 Shock? Pre-Effect Forecasting Model for Slovenia," IJERPH, MDPI, vol. 19(20), pages 1-15, October.

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    More about this item

    Keywords

    Coronavirus (COVID-19) crisis; Lessons learned; Corporate governance; Future research;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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