Business analysis in the times of COVID-19 Empirical testing of the contemporary academic findings

摘要

The pandemic of the coronavirus known as ‘COVID-19’ has spread rapidly across the globe, resulting in a worldwide economic recession. Although global efforts are in place to combat the virus, it continues to spread on a massive scale. This is not just a medical crisis; rather, it is a business crisis as well. Therefore, the aim of this paper is to develop a research scale that could be used to analyze the impact of COVID-19 on business. We adopted a scale variables approach that is generated from topics covered in the papers of leading academic business journals to form the basis of our analysis. We exposed the scale to qualitative and quantitative testing and concluded that it is reliable for research on the negative effects of COVID-19 on enterprises. The scale was used to investigate the impact of the COVID-19 on businesses in two countries, namely Serbia and Kuwait, to represent two different continents. The results of this research indicate that the influence of this coronavirus is equally devastating in both countries, Kuwait with its otherwise good economic conditions and Serbia with relatively poor ones. The findings of the research are beneficial for both academics in producing quality output papers, as well as their support to managers in various business industries in their fight against coronavirus to keep their businesses sustainable.