Abstract
The breakout of COVID-19 pandemic is followed by the unexpected and continuous crisis in all fields of activities. Literature is describing the features of challenges of different levels in different segments of economic performance. Georgia’s economic development is experiencing inevitable changes, which are not necessarily negative. Crises often lead to changes in the entrepreneurial mindset. The companies start considering new business models for future continuous operations and long-term sustainability. We set studying the current anti-crisis strategies of the construction companies and development of recommended system framework as a research problem. There was considerable doubt whether companies had strategy and plan for handling the crisis beforehand. The article provides some research findings on how companies managed to bring uncertainties and losses to a minimum. The method of interview allowed conducting qualitative analysis of different factors impacting construction projects. The pre-crisis performance, challenges during the crisis, and signs of recovery period are characterized. Study highlights the role of government in maintaining business operations. The results of survey and model for improved resilience is developed and introduced representing recommended set of resources, components of business process for desired outputs and outcomes in the construction business in Georgia.
Highlights
IntroductionSince January 30th, 2020 when COVID-19 was declared as global pandemic by the World Health Organization (WHO) exported from People’s Republic of China to other countries (WHO, 2020), the outbreak started spreading and threatening globally the healthcare system (WHOa, 2020; Deloitte, 2020), and business and entrepreneurship activities (Brown, Cowling, 2020; Yue, Cowling, 2020; Korsgaard, et al, 2020; Greene, Rosiello, 2020; Lim, et al, 2020; Ewing Marion Kauffman Foundation, 2020; Fairlie, 2020; Looze, Desai, 2020); agriculture (OECD, 2020; Rediff, 2020); energy (IEA, 2020; IEAa; Bertram, et al, 2021; Cheshmehzangi, A., 2020); socioeconomic systems (WHOb, 2020; Nicola, et al, 2020; Kumar, Nayar, 2020; Serafini, et al, 2020; Seiful Islam, et al, 2020; Hunter, 2020); The construction industry have been severely affected by the COVID-19 pandemic (Gamil, Alhagar, 2020).impact of the crisis caused by COVID-19 pandemic outbreak reaches all sectors of economics but varies across them
Impact of the crisis caused by COVID-19 pandemic outbreak reaches all sectors of economics but varies across them
Crisis caused by COVID-19 is unexpected and unprecedented in its scale
Summary
Since January 30th, 2020 when COVID-19 was declared as global pandemic by the World Health Organization (WHO) exported from People’s Republic of China to other countries (WHO, 2020), the outbreak started spreading and threatening globally the healthcare system (WHOa, 2020; Deloitte, 2020), and business and entrepreneurship activities (Brown, Cowling, 2020; Yue, Cowling, 2020; Korsgaard, et al, 2020; Greene, Rosiello, 2020; Lim, et al, 2020; Ewing Marion Kauffman Foundation, 2020; Fairlie, 2020; Looze, Desai, 2020); agriculture (OECD, 2020; Rediff, 2020); energy (IEA, 2020; IEAa; Bertram, et al, 2021; Cheshmehzangi, A., 2020); socioeconomic systems (WHOb, 2020; Nicola, et al, 2020; Kumar, Nayar, 2020; Serafini, et al, 2020; Seiful Islam, et al, 2020; Hunter, 2020); The construction industry have been severely affected by the COVID-19 pandemic (Gamil, Alhagar, 2020).impact of the crisis caused by COVID-19 pandemic outbreak reaches all sectors of economics but varies across them. Increased health risks have drastically downsized the volumes of construction works leading to the suspension in the project schedules. Construction bears potential to give great stimulus to economic recovery, to its job creation ability. The quality analysis of existing business-related economic risks, the dialogue and cooperation between governments, financial organizations and construction companies can reveal the potential ways and actions for speedy and less painful recovery from the current crisis
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