1. Alon, I. 2020.

COVID-19 and International Business: A

Viewpoint. FIIB Business Review 1-3. 2020 Fortune institute of
International Business, Sage.
Introduction:
Since the beginning of the year 2020, international business holders have become
gradually worried with the policies exceptional to virus caused by the various governmental
pandemic-mitigation restrictions (PMRs) approved in response to COVID-19 (Marco, T. &
Matteo, M. W., 2020). Though the world possibly will recover from COVID-19, it is to be
expected that the virus will totally change the system of world governance. Globalization is
over and a new world order will arise, with extraordinary outcomes to the international
businesses (Alon, I., 2020).
Since we are in the centre of an ongoing pandemic outbreak, it is nearly impossible
to guess its long-lasting consequences. For a phase afterwards a pandemic, we incline to turn
out to be less attracted in investing our money and become more interested in saving it. This
results in reduction in economical growth and in turn destruction of a business. Living in a
modern society, our interests have become more focused about ease and convenience rather
than worrying about what future might hold (Naveen, D. & Anders, G., 2020).

The COVID-19 outbreak has enforced many businesses to shut close. This led to an
extraordinary disturbance of business in most of the industrial sectors. Shops and brands
encounter many challenges that are short term. For example, those shops or businesses that
are related to health as well as safety, the workforce, the supply chain, consumer demand,
cash flow, and marketing. Nevertheless, successfully steering these encounters will not
provide a hopeful future, or for a fact any future at all. All of this is because the world order
will be completely different when the pandemic ends. It would not be like it was before.
Tourism and hospitality providers nearly do not exist anymore. All the functions of
organizations are planned to highlight and enhance expenditure or delay projects that have no
potential for bringing the value in the existing situation. Companies have applied an unknown
period of not hiring employees. On the other hand, online system of communication,
shopping and entertainment are seeing extraordinary development (Naveen, D. & Anders, G.,
2020).

COVID-19 has adversely affected International Business as there is no free

movement across the border. The borders are closed to prevent the virus from spreading from
one region to another. Importing and exporting are hugely affected by this. It certainly is a
need of time to prevent the virus from spreading but countries who rely on International
import export for their economy are negatively affected by this (Vanessa, R., 2020).
Due to the COVID-19 pandemic businesses that need face to face interactions and
communications are facing the worst time. There is no growth, sales or marketing because of
no interaction. At the same time online business are at the top. Take an example for online
communicating apps like Zoom, Microsoft Teams etc. Before pandemic, the use of these
software and apps was nearly nothing. Although some might have used them but their
business was not what you would call extraordinary. But after pandemic, almost all the types
of interactions are online. Hence there was an incredible increase in the capital of these
businesses (Alon, I., 2020).
Moreover, due to the COVID-19 pandemic online payments have become a norm.
Although before pandemic, money has already become paperless. Online transactions were
becoming normal. But now all of the transactions have been transferred to online system. As
a result of this, online businesses and money transfer businesses such as Alibaba, Tencent,
Apple, Visa and Master Card have been benefited a lot. Cryptocurrencies such as Bitcoin and
Facebook Libra has also increased businesses. Online shopping platforms are also benefited a
lot due to online transactions a people find it easy to buy things online while remaining safe
from the pandemic.
All this has tremendously increased online international businesses which were
neglected before the pandemic. People are opting for online businesses as they are fast,
convenient and keep them safe from the effects of the pandemics.

Conclusion:
An additional explanation is that the coronavirus does not negatively impact total
business participation in the international economy. Because of the fundamental manner that
coronavirus has altered social systems, this is probably not to be true. While the essence of
coronavirus business may endure a radical shift, with more creative planning needed to
satisfy the needs of the community. For this purpose, it is critical for businesses to plan their
projects with protection and safety in mind. This will make it easier to launch a variety of
projects that answer customer fears about the health problem. Part of this transition involves
questioning whether or not business is actually distinct from or similar to pre-coronavirus
types. This would make for a greater knowledge of how business is influenced by pandemics
and the capacity of businesses to deal with different stresses. The coronavirus outbreak,
unlike other disasters, has contributed in businesses being enabled to rapidly adjust to several
requirements. Thus, an important issue for businessmen is whether consumer's fears about the
pandemic will result to more businesses based on safety and security hence generating a need
for even more revolutionary movement.

References:
 Marco, T. & Matteo, M. W. (2020). Coronavirus-Infected International Business
Transactions: A Preliminary Diagnosis. European Journal of Risk Regulations. Pg. 1-6.
https://doi.org/10.1017/err.2020.30
 Naveen, D. & Anders, G. (2020). Effects of COVID-19 on business and research. Journal of
Business Research. Volume 117. Pg.# 284-289.
https://doi.org/10.1016/j.jbusres.2020.06.008.
 Vanessa, R. (2020). Coronavirus and international business: An entrepreneurial ecosystem
perspective. https://doi.org/10.1002/tie.22161
  Alon, I. (2020). COVID-19 and International Business: A Viewpoint. FIIB Business Review
1-3. 2020 Fortune Institute of International Business, SAGE.
https://doi.org/10.1177/2319714520923579

2. Vecchiato, R. 2015. Strategic planning and organizational

flexibility in turbulent environments. Foresight, Vol 17 No. 3, pp.
257-273. Emerald Group Publishing Limited.
Introduction:
The viable background has been changing tremendously in the past 3-4 decades. The
advancement and implementation of different technologies and systems such as globalization,
the Internet, talent, rapid technological changes as well as increased rates of technology
transfer, changes in the needs of the customers and the revolution of goods and models of
business, each of these aspects influenced in the increase of turbulence and chaos in business
and industry. One of the key predictors of performance is the company's potential to deal
with rising instability by detecting, capturing and controlling global shifts in a volatile
universe in which industries and whole economies increasingly develop, collapse, break,
grow and perish (Vecchiato, R., 2015).
A large number of foresight techniques have been established to assist in the
strategic planning in such a turbulent and face paced conditions. Hence these technologies
assist the thinking minds of a business to survive and handle uncertainty effortlessly. Some of
these techniques and practices include scanning of environment and situation, analysis of the
scenarios, analysis of some applicable options and developing a road map for product and
technology. These tools are developed to help in the recognition of causes of changes and
turbulence in the external environment of the company and explore their probable evolution
and influence on the organization (Tsitsi, M., 2018).
However, their hypothetical bases have been disapproved by some experts. Even if
forecasts might be precise for time being, they are not to be reliable in the long term as these
factors change unpredictably. Hence, organizational flexibility and strategic agility as a
substitute for planning and foresight-based ideas are more reliable as these can be adjusted
according to the situation faced by an organization (Meng, M. et al., 2020).
In order for a business or organization to run smoothly and without getting targeted
to turbulence of environment and collapse, they need to have flexible approaches. Such an
example of flexible approach is seen in mobile and telecommunication businesses. As we
know, since the development of mobile and telecommunication technology in late 1990s and
early 2000s, there has been tremendous changes. More severe impact was of transfer of
technology from 2G to 3G then 4G and currently most advanced technology of 5G.
Moreover, the development of Wi-Fi and Bluetooth also had a large impact. Under such
conditions, the mobile companies needed to develop their strategies to manufacture such
mobiles that can flexibly withstand these changes (Vecchiato, R., 2015).
Nokia mobile phones shows a perfect example of why foresight planning is not a
reliable method. Since 2001, they have scanned their environmental changes with the
advancement of technology and development. These strategies included planning such as
recognizing the constructive ways of changes in technologies, different needs of customers
and the main steps in these paths. These paths defined their basic planning of how to design
their products which could face the everchanging situations. They also linked these strategies
to find new ways to develop their products, what to add in it and how it would respond to the
changes in technologies. They also kept their competition in their mind while developing
their products so that the cope with the changes in technologies better than their competitors.
They were not focused on flexibility but foresight approach.
As a result of these strategies did succeeded for time being. Nokia was one of the
first company to develop advance mobiles that had the ability to cope with the predictable
turbulence in technologies. They developed their own software which was called Symbian.
But with the unpredictable advancement in the technology and development of Android
systems and PCs in late 2000s, resulted in decline in their profits because it was unpredictable
change which they did no anticipated it. Hence despite having foresight efforts, Nokia was
not able to cope with the development of Android phones. Thus, if they had opted for a
flexible approach rather than foresight, they would not have to face the consequences,
This example showed that foresight approach just shows extraordinary results for a
short period of time but the real impact is of flexibility in the organization which is certainly
a stronger approach to sustain in the turbulence of the external as well as internal
environments of an organization.

Conclusion:
To conclude, no doubt foresight approach like scanning of environment, analysis of
scenarios, and developing a road map are good for some small business that do not have to
face a large turbulence in their environment but not for businesses that have a large number
of competitors and have to cope with tremendous number of turbulences. These businesses
and organization should find a way to develop flexibility in their products and their strategies
in which changes can be done with the changing situations. If not, they would not be able to
cope with the conditions and would collapse.

References:
 Vecchiato, R. 2015. Strategic planning and organizational flexibility in turbulent
environments. Foresight, Vol 17 No. 3, pp. 257-273. Emerald Group Publishing Limited.
https://doi.org/10.1108/FS-05-2014-0032
 Meng M, Lei J, Jiao J, Tao Q (2020) How does strategic flexibility affect bricolage:The
moderating role of environmental turbulence. PLoS ONE 15(8):e0238030.
https://doi.org/10.1371/journal.pone.0238030
 Tsitsi, M. (2018). Dynamic Strategy in a Turbulent Business Environment.
https://doi.org/10.5772/intechopen.81250