engleski

Adapting Business Strategy And Operations To The Covid-19 Disruption: A Case Study on ELDA Company

A business strategy can be defined as the combination of all the decisions taken and actions performed by the business to accomplish business goals. At the end of 2019, the world was hit by the COVID-19 pandemic, which led to a partial lockdown of the global economy. The imposed interventions to deal the disruption caused by COVID-19 pandemics had a very negative impact on the economy. To sustain a stable business, companies were forced to adapt their business strategies to changing environmental conditions within a short amount of time. This paper focuses on a case-study analysis and on in-depth interviews with managers performed in the manufacturing company ELDA, which is identified as a successful business example in the redefinition of business processes and the reformulation of a corporate strategy in times of COVID-19 pandemic. The company’s core business activity was manufacturing electronic cigarette liquids and during the pandemic crisis, the company changed its range of products and successfully adapted its business processes towards hand antiseptics. In accordance with this switch, it successfully changed its business strategy by incorporating a new market approach and reorganizing the supply chain. This paper shows how effective implementation of innovation in business strategy and fast reactions in operations can provide an effective answer to a new business environment without changing the mission statement of a company and how a crisis can be observed as a chance to improve overall business performance.

adaptability ; business strategy ; corporate strategy ; business environment ; Corona crisis ; COVID-19

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