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Emergence of Services Business Strategies During COVID-19

Emergence of Services Business Strategies During COVID-19
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Author(s): Muhammad Abrar (Government College University, Faisalabad, Pakistan), Rizwan Shabbir (Government College University, Faisalabad, Pakistan)and Iqbal Hussain (Government College University, Faisalabad, Pakistan)
Copyright: 2021
Pages: 15
Source title: Impact of Infodemic on Organizational Performance
Source Author(s)/Editor(s): Muhammad Waseem Bari (Government College University, Faisalabad, Pakistan)and Emilia Alaverdov (Georgian Technical University, Georgia)
DOI: 10.4018/978-1-7998-7164-4.ch004

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Abstract

The 21st century has been fighting against COVID-19, an infection caused by a virus SARS CoV-2. On 30th January 2020, the World Health Organization stated this condition as an international health emergency. Furthermore, on March 11, 2020, it was declared a global pandemic. The pandemic COVID-19 destroyed the health systems at a large scale and the businesses globally. Service, as well as manufacturing industries, faced significant challenges during this pandemic situation of COVID-19. Infodemic is one of the biggest challenges that creates severe problems for the business community. In such circumstances, businesses have to adopt unique business strategies to sustain and gain a competitive edge. The current study evaluates different business strategies like digital servitization, travel insurance, skunkworks structural approach, black swan, etc. adopted by different service sectors, based on a systematic review approach. Mostly, the research paradigm is focused on the aviation industry, and less attention is given to other service sectors like education, banking, etc.

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