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The Challenges Underlying Firm Revival and Resilience in the Post-COVID-19 Phase

2022

Covid-19 is an exogenous shock that has deeply modified the basic building blocks and the micro-mechanisms on which socio-economic systems and organizations rest. The vast majority of both factor markets and final markets have been significantly disrupted on a worldwide scale. As all factors that determine severe crises, the Covid-19 pandemic is a low probability and high impact shock which has significantly changed the environment in which firms operate (Grewal and Tansuhaj 2001, Hudecheck et al. 2020). Such changes have nonetheless been asymmetric, whilst they have menaced the survival of a huge number of firms and have brought to their knees many key industries, it has also ignited rapid…