COVID-19 and business renewal: Lessons and insights from the global airline industry |
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Authors: | Joseph Amankwah-Amoah Zaheer Khan Ellis LC Osabutey |
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Institution: | 1. Kent Business School, University of Kent, Chatham, Kent, ME4 4TE, UK;2. University of Aberdeen Business School, University of Aberdeen, Aberdeen, AB24 3FX, UK;3. Roehampton Business School, University of Roehampton, London, SW15 5SL, UK;4. School of Marketing and Communication, University of Vaasa, Finland |
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Abstract: | The emergence of the COVID-19 pandemic has adversely affected the fortunes of multiple companies around the globe. Accordingly, questions are increasingly being asked about how organizations can revitalize during and after a crisis. Yet, we have limited understanding of how organizations renew themselves during crises over time. We explore this question through the lens and examination of two South-Asian airlines: Pakistan International Airlines and Sri Lankan Airlines. The cases offer important insights into the reasons behind underperformance of state-controlled enterprises and renewal activities. We shed light on strategic renewal (SR) in the wake of increasing liberalization and deregulations in the global airline industry. To this end, we propose a four-stage approach towards renewing such underperforming organizations to respond effectively to black swan events and external shocks. |
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Keywords: | State-owned enterprises COVID-19 Strategic renewal External shocks Airlines Emerging markets Pakistan Sri Lanka |
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