Corporate strategies in agricultural enterprises: Adaptation and development in the СOVID-crisis environment

Abstract

The purpose of this study is to examine the impact of the COVID-19 crisis on changes in agricultural enterprise corporate strategies. The study also aims to identify their potential implications in the context of the COVID-19 pandemic's spread. The most important research method is monitoring. The results of monitoring reflect the efficiency of agricultural production processes before and during the COVID-19 crisis. The studied country exemplifies agricultural business development under favorable natural resource conditions. In the context of the ongoing COVID-19 pandemic, the corporate strategies of Kazakhstan's five largest agricultural enterprises were analyzed. The materials for the analysis were the databases of these enterprises' official websites. The analysis rested on a forecasting model based on a trend line. The results suggest that the efforts to adapt corporate strategies to the COVID-19 imperatives aim to balance and restore the economic activity of agricultural enterprises. This task requires strategies for reducing secondary costs, investing in high-growth areas, micro supply chains, and management system transformation. In practice, the findings can be useful for policymakers and managers in the agricultural sector of the economy. The study presents additional information on how to better support agricultural enterprises during and after the spread of the COVID-19 pandemic.