Authors:Dr. Poornima Tapas, Dr. Deepa Pillai
Journal: International Journal of Innovation Science
Publication date: 2021
Publisher: Emerald Publishing
URL: click here

Abstract

Purpose – The purpose of this study is to examine and interpret the findings from different sources on the corporate decisions during COVID-19.
Design/methodology/approach – The COVID-19 is a new phenomenon; grounded theory research approach is adopted to develop propositions on prospect theory and strategic decisions. The paper examines and interprets the findings from different sources on the corporate decisions during COVID-19.
Findings – Conventionally, it is believed that innovation brings risks, and individuals preferred certainty over uncertainty, even if the gains under uncertainty were twice as high. But, the results of the study indicate a divergent trend. Under threat perceptions of risks, companies explore significant opportunities and possibilities for organizational growth. Practical implications – The study provides a framework to analyze the strategic decisions of corporate enterprises. The decisions replicate value function as concave in a gain situation and convex in a loss realm in times of pandemic crises.
Originality/value – This paper uses “actions taken” by enterprises offering various solutions in the testing times. The study is multidisciplinary in nature; it analyses the transformation strategic decisions in the context of economic and social dimensions for surviving the pandemic crises. The study provides a foundation for future research, as inferences are based on select examples. Keywords: Innovation, Prospect theory, Risk, Pandemic, COVID-19, Crises, Strategic decisions, Corporate enterprises Paper type General review