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Covid-19 and Business: The Paradigm Shift in Doing Business in Kenya
A case report was released looking into effects and paradigm shifts during the emergence of the Novel Coronavirus (Covid-19) in 2019, which came with mixed fortunes. This paper was guided by two objectives: To examine the effects of Covid-19 on business operations in Kenya; and to identify business paradigm shifts experienced as a result of Covid-19 in Kenya. The emergence of the Covid-19 crisis, to some businesses was a blessing in disguise, while to others a curse. A curse in the sense that it changed most of the things that used to be usual to unusual, normal to abnormal. Some of those areas may not be the same again especially in conducting businesses. Similarly, it was a blessing in disguise to some businesses because many realized their agility, flexibility, the power of digital technology adoption, and change management. The disease caused a lot of misery world-over in terms of the plethora of human deaths and collapse of enterprises. In that respect it caused massive disruptions in production, supply chain and liquidity shortages. As a result, a new normal of conducting business came in force. Businesses realized that employees could work remotely, from home and still deliver results desired by the company. Thus the need to have physical infrastructure for some organizations especially in the service industry are predicted to be a thing of the past. In their place, Virtual Companies are predicted, a paradigm shift in doing business in the future, due to the impact of Covid-19. Findings from this research reveal that things will never be the same again even after Coronavirus is contained. Therefore, only those who are resilient in managing the change are likely to survive in the new normal market environment necessitated by the Covid-19 pandemic.
Key Words: Coronavirus Pandemic; Covid19; Businesses; Change Management; Flexibility; Agility; Technology Adoption; Virtual Company; Paradigm Shift.
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