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Review
. 2020;19(3):277-297.
doi: 10.1057/s41291-020-00119-x. Epub 2020 May 12.

The challenges and opportunities of a global health crisis: the management and business implications of COVID-19 from an Asian perspective

Yipeng Liu  1   2 , Jong Min Lee  1 , Celia Lee  3
Affiliations
Review

The challenges and opportunities of a global health crisis: the management and business implications of COVID-19 from an Asian perspective

Yipeng Liu et al. Asian Bus Manag. 2020.

Abstract

On March 11, 2020, the World Health Organization (WHO) declared the coronavirus (COVID-19) outbreak a pandemic. As the evolution and implications of the COVID-19 crisis are still unfolding, we posit that exploring the experiences and strategic responses of Asian countries may shed light on ways to combat COVID-19 for the rest of the world. In this paper, we first articulate the importance of resilience, strategic agility, and entrepreneurship in the context of the fight against COVID-19. Then, with the focus on China, South Korea, and Singapore, we discuss the impact COVID-19 is having on economies and businesses, governmental support for businesses and societies, and implications for global supply chain disruptions. We hope that the global health system will recover quickly, and that the world economy will be revitalized with the contributions and collaboration of science (including social science), industry, and governments.

Keywords: COVID-19; China; Global health crisis; Global value chain; Government support; Impact on economies and business; Singapore; South Korea.

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Figures

Fig. 1
Fig. 1
Growth in Asia in 1963–2021. ) Source: adapted from IMF, Rhee (
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