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The Frontiers of Business Research, China, has recently published six unique perspectives of business researchers on the challenges that businesses are facing amidst the coronavirus pandemic and how they can be tackled.
Digitalisation
The first article, by Professor Hai Guo from Business School, Renmin University of China (Renmin Business School), and the team stated that digitalisation of business could be a way forward amidst the financial crises. It can help organisations to tap into their dynamic capabilities--their abilities to quickly build, integrate, and reorganize internal and external resources to adapt and promote organisational changes in the wake of crises.
Prof. Guo noted: "(It) can help SMEs employ emergency responses as well as respond strategically to public crises in the long run, thus contributing to the improvement in SMEs' performance."
New normal framework
The second article has been written by Professor Jose C. Alves from the City University of Macao and his colleagues. They discussed a framework that combines insights on the sense-making processes of business leaders of six firms in Macao at the various crisis stages.
This includes how they dealt with internal and external stakeholders and responded to various challenges. The researchers found that most business leaders dealt with the pandemic situation as the "new normal".
The researchers recommend that effective handling of the pandemic would require small firms to expand stakeholder engagement and develop new learning.
Negative marketing sentiments
In the third article, Associate Professor Ding Ding from the Singapore University of Social Sciences and her team investigated the effects of the negative market sentiments stemming from the pandemic on the stock market.
For the study, they compared the closing stock prices of 1,567 firms from 37 sectors and found that some sectors were more resilient to the negative market sentiment than others.
Ding explains, "Even as (such) shutdowns have brought many corporeal economic activities to a near-complete standstill, consumer purchases and even trade continue to thrive online."
CSR work amidst pandemic
The fourth article, by Professor Fengjun Liu of the Renmin Business School and colleagues, investigated the impact of internal corporate social responsibility (ICSR) disclosures on consumer brand attitudes.
They reveal that the perception of companies fulfilling their social responsibilities positively affects consumer attitudes.
SMEs and financial service providers
The fifth article, by Professor Hua Song of the Renmin Business School, presented a deep insight into the support that SMEs are receiving from financial service providers (FSPs).
Their study compares and provides insights into the roles played by three types of FSPs: commercial banks, non-bank financial institutions, and credit enhanced FSPs.
Five-phase system
In the sixth article, Prof. Fengbin Wang from the Renmin University of China and her colleague discuss the microstructures and dynamic processes within the five-phase system to offer a better understanding of Covid-19 as a complex system.
Their study offers insight into a possible dialogue between the Western process theory and the Chinese five-phase system that could help policymakers predict system evolution and guide policy decisions.
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