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The covid-19 pandemic has significantly impacted economies all over the world, posing as a difficulty for companies all across the globe. The Micro, Small, and Medium Enterprises (MSMEs) in India were one of the most affected. These Enterprises make a substantial contribution to India's economic output.
Despite their significance, these enterprises had faced immense challenges during the pandemic, such as disrupted supply chains, financial needs, loss of customer interest, and administrative problems as well.
This paper, has the intention of studying the aftermath of the COVID-19 pandemic on the MSMEs of India and is focusing on the Volatility, Uncertainty, Complexities, and Ambiguity (VUCA) challenged encountered by them, the strategies that these businesses put into place to keep the organizations afloat, is also studied.
This paper includes a study spanning various fields, exploring the adaptive mechanisms, and strategies incorporated by MSMEs to manage and navigate through the turbulent business environment, sustaining operations and managing risks.
Furthermore, the thesis throws some light on the role of digital transformation in MSME resilience during the crisis, noting its effectiveness and potential barriers. The study aims to give insights and suggestions to better prepare MSMEs versatility against future disruptions, while also looking at government aid or help during the pandemic.
At last, this thesis adds to the understanding of challenges faced by MSMEs during the Covid-19 pandemic, while trying to offer valuable insights for the future.
Today’s era is marked by high volatility, uncertainty, complexity and ambiguity – VUCA. As the global reach of businesses increases, the need for competent managers to take on cross-border assignments grows. Even though the results can be key to organizational effectiveness, global mobility remains a low priority on the list of strategic imperatives. This thesis will explain why and how companies should consider a strategic approach to global mobility in a VUCA environment discussing links between today’s turbulent times and global mobility. It will combine theory with practice, point out the key factors global mobility strategies must focus on in today’s VUCA environment and use these findings to develop a set of assignment types beneficial in the VUCA era. The study is based on qualitative research methodology using primary and secondary data. A literature review was used to gather theoretical information comparing various sources from academic journals and books on relevant topics. Case studies featuring Budenheim and Hewlett Packard shall give an insight into which methods companies are using in order to survive in this chaos and relate discussed theories to practical situations. It has been revealed that the three main factors responsible managers must focus on strategically when sending employees abroad are developmental value, cost effectiveness, and flexibility of cross-border assignments. The need for developmental value of assignments stems from an increased involvement of employees in their own development as well as the need for competent global managers. The need for cost effectiveness results from fierce global competition, and flexibility is highly important due to all of the VUCA forces creating turbulence around the globe. Based on these results the most advantageous assignment types are found to be developmental assignments, extended business travels and project assignments.