Abstract
At the end of 2019, the pandemic caused by COVID-19 and its different mutations is forcing the world to face a significant economic crisis that will change the business world. To cope with this socio-economic problem, a digitation process has been accelerated in the labor market, and a more vital public-private collaboration has been put into action to solve this situation. Despite these efforts, the world is facing a broader North-South gap, and a new business world has been created for the new generations to come. This chapter aims to analyze how the first lockdown caused by COVID-19 has influenced this changing process. The authors conclude that this lockdown has accelerated both the digitation process and the work-life balance. Also, more efforts are needed to fight the psychiatric problems associated with the lockdown.
TopBackground
One of the keys that have fostered the searching for solutions in these pandemic times caused by COVID19 is how organizations have accelerated their digitalization processes. In this sense, Ahmad et al. (2021) show that senior management and technology infrastructure readiness positively impact digital transformation and organizational performance. Due to transformational digitalization, It has been possible to increase labor productivity in organizations, especially those in which the connection between the organization’s stakeholders is made through high-speed networks endowed with the most advanced technology available. Therefore, a correct public-private collaboration must occur to succeed in this transformative process, which benefits society.
Key Terms in this Chapter
Early-Stage Companies: They are firms located in their early stages of business operations.
Principal Components Method: This technique is used to describe a data set in terms of new uncorrelated variables ('components') ordered by the amount of original variance they represent.
NES Questionnaire: The acronym of National Expert Survey consists of three blocks of questions in which experts provide open-ended responses.
GEM: Acronym of global entrepreneurship monitor, it is the most comprehensive organization devoted to studying entrepreneurship in the world.
Cronbach’s alpha: It is a statistical measure of internal consistency focused on measuring how closely related a set of items are as a group.
North-South Gap: It is the difference in growth, wealth, and employment between the first and the third worlds.
South-South Gap: It is the difference in growth, wealth, and employment between the third and fourth world countries.