Pandemic Effects on Enterprises and Markets: An Overview

This chapter provides detailed analysis of the impact of the COVID-19 pandemic on the business and economic sectors and explains the extent to which enterprises and markets can adapt to the changing circumstances brought about by the pandemic. It focuses on the core concepts of innovation, resilience, and adaptability that characterized most enterprises and markets during the pandemic. It argues that the new business characteristics that emerged and developed during the pandemic have left a lasting impact on enterprises, many of them have successfully developed innovative strategies and working methods that made them competitive in the increasingly changing business environment. The chapter uses secondary data from existing literature and reports to underline market adaptability that featured in selected sectors including logistics and supply chain, food security, and labor market. It concludes by stressing that innovation, resilience, and adaptability in the business sector and markets are key drivers of the post-pandemic recovery and that these characteristics are highly likely to last in post-pandemic.