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How Companies Can Respond to the Coronavirus
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How Companies Can Respond to the Coronavirus

The companies and employees at ground zero of the COVID-19 outbreak provide insight into what works in a time of crisis — and what doesn’t.

Michael Hudecheck, Charlotta Sirén, Dietmar Grichnik and Joakim Wincent
MIT Sloan Management Review, 2020
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8

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  • Applicable
  • Concrete Examples

Recommendation

As the world faces the coronavirus pandemic’s impact on business and the economy, companies coping with the economic fallout in China offer worthwhile, applicable lessons. European university-based researchers developed a set of best practices derived from the Chinese experience, and summed them up in the MIT Sloan Management Review. Their findings offer a helpful starting point for business leaders adjusting to this new reality.

Take-Aways

  • The COVID-19 outbreak and government-mandated mitigation measures are severely disrupting the Chinese economy.
  • Companies facing the Corona outbreak must prepare their workforce early for telecommuting.
  • Organizations must take precautions to ease the financial impact and supply chain disruption of virus-related lockdowns.

About the Authors

Michael Hudecheck of Switzerland’s University of St. Gallen; Charlotta Sirén of Brisbane’s University of Queensland; Dietmar Grichnik of St. Gallen’s Institute of Technology Management; and Joakim Wincent, a professor at St. Gallen and at Helsinki’s Hanken School of Economics all conduct research on entrepreneurship.    

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