Abstract
The COVID-19 pandemic has changed the business environment both positively and negatively. In this closing chapter, we explore how the pandemic is driving innovation to enable businesses to thrive post-pandemic. Over the past decade, conceptual, applied, and empirical work has advanced the literature on innovation. In exploring the link between innovation and the business environment, research needs to be interdisciplinary to allow a holistic understanding of the topic. The integration of economics, management, and technology is a catalyst for new contributions from different fields, which is the core of innovation. As businesses prepare to operate in the new post-COVID-19 norm, we discuss three theories, namely, Schumpeter’s (1942) theory of creative destruction, Barney’s (1991) resource-based view theory, and Rogers’ (2003) diffusion of innovation theory to help readers better understand the relationship between innovation and evolving business environments.
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Change history
14 October 2022
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Notes
- 1.
The COVID-19 pandemic is an extraordinary example of a health crisis that has impacted the financial markets and induced a global recession. Scholars have referred to the pandemic as a Black Swan event (Yarovaya et al., 2021, 2022), a term previously coined by Nassim Taleb, a prominent statistician and author, to explain the occurrence of unexpected and unpredictable events with potentially severe consequences that are beyond human expectation.
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Kwok, A.O.J., Watabe, M., Koh, S.G. (2022). COVID-19 and the Evolving Business Environment: From the Lens of Three Innovation Theories. In: Kwok, A.O.J., Watabe, M., Koh, S.G. (eds) COVID-19 and the Evolving Business Environment in Asia. Springer, Singapore. https://doi.org/10.1007/978-981-19-2749-2_14
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