Journal of Business Research 118 (2020) 253–261

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Journal of Business Research

journal homepage: www.elsevier.com/locate/jbusres

Investigating the emerging COVID-19 research trends in the field of business T

and management: A bibliometric analysis approach
⁎
Surabhi Vermaa, , Anders Gustafssonb
a
Center for Integrative Innovation Management, Department of Marketing & Management, University of Southern Denmark, Odense, Denmark
b
BI Norwegian Business School

A R T I C LE I N FO A B S T R A C T

Keywords: The COVID-19 pandemic has been labeled as a black swan event that caused a ripple effect on every aspect of
COVID-19 human life. Despite the short time span of the pandemic—only four and half months so far—a rather large
Emerging research topics volume of research pertaining to COVID-19 has been published (107 articles indexed in Scopus and the Web of
Business & management Science). This article presents the findings of a bibliometric study of COVID-19 literature in the business and
Bibliometric analysis
management domain to identify current areas of research and propose a way forward. The analysis of the
Co-word analysis
published literature identified four main research themes and 18 sub-themes. The findings and propositions of
this study suggest that COVID-19 will be the catalyst of several long- and short-term policy changes and requires
the theoretical and empirical attention of researchers. The offered propositions will act as a roadmap to potential
research opportunities.

1. Introduction importance for businesses to conduct proper assessment and feasibility

analyses of their business models (Donthu & Gustafsson, 2020).
The coronavirus disease (COVID-19) is a human social and eco- COVID-19 has also pushed businesses across the world to rapidly
nomic crisis that has attacked the core of human existence. It continues operate in newer and more resilient ways. As firms change their prio-
to spread uncontrollably around the world; as of May 11, 2020, rities in response to old challenges like real-time decision-making,
2,403,888 people had been infected globally (WHO, 2020). The out- workforce productivity, business continuity, and security risks, newer
break is predicted to reach its peak in June 2020, declining only from challenges introduced by the pandemic are testing businesses’ resilience
July 2020 onwards (WHO, 2020). The COVID-19 pandemic has affected as they attempt to lay a foundation for the future (Ivanov, 2020). To
all segments of the population, especially vulnerable groups such as the help business practitioners and researchers understand the impact of
old, the infirm, the disabled, the marginalized and the poverty-stricken the pandemic on future economic growth, this study analyzed a corpus
(Donthu & Gustafsson, 2020). In response to the pandemic outbreak, of COVID-19 and business and management articles to address ques-
the leaders of many countries decided to save lives before saving the tions like the following: What are the growth trajectories and trends of
economy, declaring sudden or phased lockdowns in their countries. publications in the early phase of the COVID-19 pandemic outbreak?
Policies like “social distancing” and “stay-at-home” were implemented What are the topical foci for research regarding COVID-19 and busi-
overnight, which severely damaged several businesses across industries nesses? This review captures the current state of research about COVID-
(Donthu & Gustafsson, 2020; Leite, Hodgkinson, & Gruber, 2020). 19 through a systematic literature review and develops propositions to
According to the World Trade Organization (WTO, 2020), world guide future research. It can be described as a prescriptive study that
trade was already experienced a slump in 2019, and then the COVID-19 reviews 107 articles pertaining to COVID-19 and aims to provide a
pandemic precipitated a global financial crisis. Early estimates have reference point for practitioners and researchers alike. The paper in-
predicted that major economies will lose around 2.4 to 3.0 percent of cludes sections delineating the methodology, results, discussion, con-
their gross domestic product (GDP) during 2020 due to the COVID-19 clusion, and future research avenues.
pandemic (WTO, 2020). It is becoming challenging for most businesses
across the world to keep their financial wheels rolling, given reduced
revenues and the high level of uncertainty. It is thus of the utmost

⁎
Corresponding author.
E-mail addresses: [email protected] (S. Verma), [email protected] (A. Gustafsson).

https://doi.org/10.1016/j.jbusres.2020.06.057
Received 16 June 2020; Received in revised form 23 June 2020; Accepted 25 June 2020
Available online 02 July 2020
0148-2963/ © 2020 Elsevier Inc. All rights reserved.
S. Verma and A. Gustafsson Journal of Business Research 118 (2020) 253–261

2. Methodology approach helps researchers to understand the extent of a topic, its

emergent trends, and its evolution over time (Singh et al., 2020). It is a
Bibliometric analysis is an expedient approach to examine the holistic approach that provides better insights than a traditional lit-
evolution of research domains, including topics and authors, based on erature review because it minimizes the potential subjectivity of the
the disciplines’ social, intellectual, and conceptual structures (Donthu, researcher (Bhattacharyya & Verma, 2020). This bibliometric study is
Kumar, & Pattnaik, 2020). Researchers have used this technique in a novel in several respects. First, it applied the science mapping approach
range of disciplines, like strategic management (Ferreira, Fernandes, & (consisting of bibliometric literature and scientometric analyses) in the
Ratten, 2016), corporate social responsibility (Bhattacharyya & Verma, emerging research domain of COVID-19 and business to minimize
2020), medicine (Liao et al., 2018), and corporate universities (Singh, subjectivity and bias. Second, the research extended the science map-
Verma, & Chaurasia, 2020). ping approach with an in-depth analysis of the identified research
Although a few recent bibliometric studies have addressed the im- themes. Third, it analyzed the research topics, identified significant
pact of COVID-19 (Chahrour et al., 2020; Hossain, 2020; Park, Cook, research gaps, and provided future avenues in the research domain of
Lim, Sun, & Dickens, 2020), each study has its own set of limitations. COVID-19 and business.
Chahrour et al. (2020) only examined the most influential observational To address the research questions of this study, we identified several
studies and therapeutic trials described in articles published in the research articles published within the business and management field.
PubMed and World Health Organization (WHO) databases. Also, they Fig. 1 summarizes the research design. The publications was obtained
did not study the intellectual structure of the research area. The bib- using the Scopus and WoS databases. Data acquisition from existing
liometric analysis performed by Park et al. (2020) included only the literature is crucial in the science mapping approach since it determines
PubMed database and the therapeutic aspects of the pandemic. Hossain the dataset of articles from which pertinent conclusions will be drawn
(2020) collated articles published only in the Web of Science (WoS) (Singh et al., 2020). We selected both the Scopus and WoS databases to
database and reported that researchers largely targeted biological to- ensure a wider range of high-quality peer-reviewed journals in the
pics, such as those related to genetics, epidemiology, and zoonosis. domain of business and management compared to EBSCO, Google
Importantly, Hossain (2020) pointed out the necessity of extending the Scholar, or others (Ferreira et al., 2016). We retrieved existing litera-
COVID-19 pandemic-related research to the field of socioeconomics. ture related to COVID-19 in the business management domain from the
To overcome the limitations of these earlier works, this study uti- Scopus and WoS databases using keywords related to COVID-19
lized the science mapping approach to understand the topical foci of the (Hossain, 2020): “2019-nCoV” OR “COVID-19” OR “Coronavirus Dis-
field of COVID-19 and business research (Fig. 1). The science mapping ease 2019” OR “Novel Coronavirus Pneumonia” OR “NCP” OR “2019

Fig. 1. Research design for the bibliometric study.

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novel coronavirus” OR “SARS-CoV-2” OR “2019 Novel Coronavirus economic activities have been stifled. The extent of COVID-19 spread
Diseases” OR “novel coronavirus” OR “pneumonia.” The keyword across the world has heightened uncertainty regarding consumption
search in Scopus and WoS was set to include titles, abstracts, and and investment among different stakeholders, like consumers, trade
keywords in order to retrieve all relevant publications. The search partners, suppliers, and investors (Donthu & Gustafsson, 2020). In-
period was set to include articles published between January 1, 2020, creasing the length of the lockdown and travel restrictions (national
and May 11, 2020. Only English-language publications were considered and international) are severely affecting the general economy. The
for the review process. COVID-19 crisis is generating spillover effects throughout global and
The initial search yielded over 12,068 papers, but narrowing the regional supply chains, disrupting demand and supply (Pantano, Pizzi,
results to only the business research area yielded 142 papers published Scarpi, & Dennis, 2020). Additionally, social distancing policies have
in the Scopus and WoS databases. Of these, 35 articles were duplicates almost destroyed service industries, like travel and tourism and hospi-
(i.e., indexed in both databases) and thus were excluded from further tality, which could trigger a recession (Donthu & Gustafsson, 2020).
analysis (Homrich, Galvao, Abadia, & Carvalho, 2018). A total of 256 The severe global challenges posed by COVID-19 can be tackled using a
different researchers published articles between January 1, 2020, and range of digital technologies, like the Internet of things, artificial in-
May 11, 2020, related to COVID-19 in the business and management telligence, big data analytics, and drones (Donthu & Gustafsson, 2020).
domain. The screening process resulted in a unique sample of 107 ar- This study tried to examine the impact of COVID-19 on different facets
ticles published within the set time period from 71 different journals, of businesses through bibliometric analysis and identified four major
61 different countries, and 272 different institutions. Of these, four discourses (Table 1) including impact of COVID-19 on overall business,
researchers had published two Scopus or WoS-indexed articles in technologies, supply chain management, and the service industry.
journals like Transportation Research Part E: Logistics and Transportation
Review, International Journal of Production Research, Journal of Cleaner 4.1. Cluster 1: Overall impact of COVID-19 on business
Production, International Journal of Scientific and Technology Research,
and Journal of Risk and Financial Management. This indicates the 4.1.1. Cluster 1a: Impact of COVID-19 on business
adaptability and openness of researchers across the world to understand The COVID-19 pandemic has already had dramatic, rippling effects
contemporary issues like the impact of COVID-19 on business. Further, across global economic activities in every region of the world (Bofinger
the results indicate that this field is still evolving and is in its initial et al., 2020). In order to flatten the curve of infection rates, several
stage, as there are no dominant authors yet. Also, researchers with countries across the world have imposed widespread restrictions (e.g.,
different backgrounds have contributed to the field. lockdowns, quarantines, and closure of physical shops and businesses)
to protect the functioning of healthcare systems (Michie, 2020). Un-
3. Bibliometric analysis derstandably, these closures have had an immense, immediate impact
on the economic activity in almost every sector. For example, activities
3.1. Co-word analysis involving direct contact between consumers and service providers have
been adversely affected by restrictions on movement and social dis-
In order to identify emerging themes related to COVID-19 in the 107 tancing (Giritli Nygren & Olofsson, 2020). The closure of the economy
articles identified in the business research area, we performed a co- has also increased the risks associated with investments by households
word analysis of keywords using VOSviewer. Co-word analysis applies and businesses. Many companies are either facing bankruptcy or re-
text-mining techniques to the titles, abstracts, and keywords of articles ducing their production capacity, which has led to higher unemploy-
(Van Eck & Waltman, 2010). Co-word links identify multiple keywords ment and underemployment (Bofinger et al., 2020). A prolonged
that occur together in the same articles. The relationship between lockdown period also increases the risk of a massive increase in cor-
keywords is determined based on the number of articles in which the porate and governmental debts, leading to fundamental financial im-
keywords occur together (Van Eck & Waltman, 2010). To perform a co- balances that could prolong the recovery period from the COVID-19
word analysis, we combined the datasets retrieved from the Scopus and crisis (Donthu & Gustafsson, 2020).
WoS databases and converted them into a Microsoft Word file for data
cleaning and preprocessing. We manually eliminated the duplicate ar- 4.1.2. Cluster 1b: Impact of COVID-19 on the value chain
ticles from the file and removed coding errors in the sources, affilia- During the COVID-19 crisis, businesses are working faster to ensure
tions, and cited references for further analysis. For example, we cor- a competitive advantage (Lee, Venkataraman, Heim, Roth, &
rected duplication errors such as two different forms of the same Chilingerian, 2020). In order to solve emerging problems, firms are
author’s name (e.g., “Lee S.” and “Lee S.J.”) through the data cleaning embracing methods and processes that are responsive rather than re-
process. Further, we standardized keywords to ensure unification and active to the crisis (Chesbrough, in press), and they are switching to
consistency (i.e., singular/plural). After data cleaning, we conducted new operating models focused on the customer and supported by the
data analysis to understand the evolution of the corpus of COVID-19 right governance (Graves & Karabayeva, 2020; Lee et al., 2020). They
literature in the business and management domain during 2020 using are quicker to decide where to invest and reallocate their resources. In
BibExcel and VOSviewer. BibExcel is a data analysis tool used for de- addition, firms are pushed to create new product/services and radically
scriptive analysis of data (Ferreira et al., 2016). We used it in this study adapt in order to remain visible, agile, and productive (Chesbrough, in
because of its high flexibility for data modification in databases like press; Kim, 2020).
WoS and Scopus. Further, we employed the visualization tool VOS-
viewer, which collected all the keywords from the dataset and created a 4.1.3. Cluster 1c: COVID-19 & start-ups
co-word network. This network helped us to understand the research The COVID-19 crisis has seriously threatened the potential for in-
interests and relationships among keywords. It was from this analysis novation and discouraged start-ups that could have been viable under
that the prominent research themes emerged. The study identified 4 normal circumstances (Kuckertz et al., 2020). A high percentage of
themes and 18 sub-themes (Fig. 2 and Table 1). Each theme and sub- start-ups are poised to go out of business in a few months as the capital
theme is discussed in detail in the findings and discussion section. and revenue required to sustain them are quickly drying up (Bofinger
et al., 2020). Therefore, until the COVID-19 pandemic is over, survival
4. Findings and discussion must be the primary focus of start-ups and regulators. Further, the crisis
has brought about a change in the investment patterns of venture ca-
In comparison with the 2008 global financial crisis, the COVID-19 pital firms, which are shifting their focus to start-ups operating in
pandemic is associated with several new challenges, given that major sectors like online grocery delivery, healthcare, fast-moving consumer

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Fig. 2. Co-word network of COVID-19 literature in the business and management area.

goods, and home entertainment. (Kuckertz et al., 2020). The creativity or −32% according to the optimistic and pessimistic scenarios, re-
and experimentation of start-ups is highly dependent on intense per- spectively. Further, the recovery in 2021 is uncertain and will depend
sonal and social exchanges between stakeholders. The pandemic-in- on the duration of the COVID-19 pandemic and the effectiveness of
duced lockdown has reduced the opportunities for direct communica- policy responses (Evenett, 2020). Despite the closure of international
tion and spontaneous encounters, resulting in deleterious impacts on borders, maintaining trade flow is crucial to ensure access to essential
start-ups’ growth curves (Bofinger et al., 2020). goods like medicine and food in addition to supporting jobs and eco-
nomic activities (Ozili & Arun, 2020). COVID-19 is severely affecting
4.1.4. Cluster 1d: Impact of COVID-19 on trade service trades, threatening permanent closure (Garvey & Carnovale,
According to the WTO (2020), trade in 2020 will plunge by −13% 2020). However, some service trades, like information technology

Table 1
Themes, sub-themes, and keywords related to COVID-19 research.
Themes Sub-themes Keywords

Overall impact of COVID-19 on Impact of COVID-19 on Business COVID-19; Decision Making; Risk Management Strategies; Risk Assessment; Supply Chain Dynamics;
business Predictive Performance; Complexity; Crisis Management; E-Loyalty; Geographic Information System;
Impact On Learning; Privacy; Real Time; Responsible Tourism; Social Media Communication; Social
Presence; Social Tourism; Virtual Classes; Data Mining; Disease Surveillance; Empathy; Human
Behavior; Macromarketing; Price Volatility; Security
Impact of COVID-19 on Value Chain Management Perspective; Sales; Consumer Culture; Corporate Culture; Digital Marketing; Digital
Sales; Digital Transformation; E-Commerce; Leadership; Virtual Works; Well Being
COVID-19 and Start-ups Entrepreneurship; Crisis; Policy
Impact of COVID-19 on Trade Trade Policy; Obstacles; Stakeholders
Impact of COVID-19 on Employment Employment; Underemployment; Unemployment
COVID-19 & Risk Communication Risk Perception; Risk Communication; Misinformation; Trust; Uncertainty
COVID 19 & Technology COVID-19, Big Data, & Advanced Deep Learning; Forecasting; Big Data Analytics; Sustainable Development; Digital Storage; Personnel
Analytics Training; Sustainable Operations; Computational Capacity; Business Analytics
COVID-19 & Data-driven Decision- Real-World Datasets; Actionability; Local Decisions
making
COVID-19 & Emerging Technologies Machine Learning Technology; Transparency; Artificial Intelligence; Healthcare Analytics; Ethics;
Robustness; Standard Practices; Blockchain; Distributed Trust Model
COVID-19 & Digital Healthcare Technology Learning; Apps; E-Healthcare; Healthcare System; Legislation; Endogenous Technology
Learning
COVID-19 & Infodemic Information Retrieval; Interpretability, Search Engines; Latent Intention
COVID-19 & Socio-technical Minimize Disruption, Professional Expertise; Socio-technical Systems
transitions
COVID 19 & Supply Chain Impact of COVID-19 on Inventory Supply-Chain Disruptions; Supply Chain Risk Management; Economic and Social Effects; Inventory
Management Management Control; Inventory Management; Optimal Ordering Policy; Ripple Effect
Impact of COVID-19 on Supply Chain Computer Simulation; Digital Twin; Economic Impact; Resilience; Supply Chain Management
Management
Impact of COVID-19 on Supply Chain Intertwined Supply Network; Supplier Roles; Supply Chain Resilience; Survival; Viability
Resilience
COVID 19 & Service Industry Impact of COVID-19 on Travel & Mobility Service; Tourism Industry; Collaboration; Responsibility; Uncertainty
Tourism
Impact of COVID-19 on Education Online Education; Information Technology; Emergency Policy
COVID-19 & Essential Services Service Industry; Healthcare Policy; Improved Performance

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services, are booming because employees are able to work from home 4.2.3. Cluster 2d: COVID-19 & digital healthcare
(Evenett, 2020). The public health emergency of COVID-19 confronting global
healthcare systems has prompted the development of digital health
solutions to mitigate the impact of the pandemic (Panigutti et al.,
4.1.5. Cluster 1e: Impact of COVID-19 on employment
2020). These digital healthcare systems include telehealth; robust sur-
The COVID-19 crisis has affected around 3.3 billion employees
veillance systems; technology-driven diagnostic and clinical decision-
(Monitor, 2020). People across the world are unable to work because
making tools; wearable tracking devices to measure physiological
they are being asked to isolate or quarantine themselves. Due to COVID-
parameters like temperature, heart rate, and sleep-duration; and in-
19 lockdowns, businesses have increased layoffs and working hours and
teractive chat services providing information about COVID-19 (Leite
reduced wages (Dey & Loewenstein, 2020). Many employees have been
et al., 2020). Telemedicine administered through virtual chatbots and
affected by low wages, or loss of income. Sectors like travel and
webbots is emerging as a viable option for communication and safe
tourism, food services, retail, manufacturing, and business and ad-
medical care. Digital healthcare solutions are helping to detect, report,
ministrative activities are at the highest risk of unemployment and
and provide surveillance and rapid response for COVID-19 cases
under-employment (Bell & Blanchflower, 2020). COVID-19 is dis-
(Panigutti et al., 2020). Further, they are helping with the creation of
rupting the economies of many countries by reducing economic activ-
geospatial dashboards that display pertinent information at the national
ities across multiple sectors, leading to decreases in employment, and
and international scales to track COVID-19 statistics in real time
reducing revenue streams for several businesses (Dey & Loewenstein,
(Panigutti et al., 2020).
2020; Woodside, 2020).
4.2.4. Cluster 2e: COVID-19 & infodemic
4.1.6. Cluster 1f: COVID-19 & risk communication According to the WHO Director General, the world is fighting not
During this crisis, understanding people’s risk perceptions is critical only an epidemic but also an “infodemic” (WHO, 2020). This infodemic
for risk communication (Aven & Bouder, 2020). The risk perception of is causing an over-abundance of information related to the COVID-19
COVID-19 is influenced by several societal, cultural, and psychological situation, not all of which is accurate (Yu, Li, Yu, He, & Zhou, 2020).
factors and affect one’s preparedness and planning (Giritli Nygren & Such uncertainty can create confusion and distrust among people and,
Olofsson, 2020). Therefore, risk communication should be based on ultimately, hamper an effective public health response. The COVID-19
factors like risk attitude, risk perception, and trust in communicating infodemic has largely dealt with the cause and origin of the novel
authorities. Further, risk perceptions can affect how individuals eval- coronavirus, its symptoms and transmission patterns, available treat-
uate threats and information communicated by authorities (Aven & ments and cures, and the effectiveness of interventions by health au-
Bouder, 2020). thorities (Krause, Freiling, Beets, & Brossard, 2020). In response to this,
social media and search engine giants, like Facebook, Google, Pinterest,
Twitter, and YouTube, are filtering out unfounded medical advice,
4.2. Cluster 2: COVID 19 & technology
hoaxes, and other false information that could risk public health
(Krause et al., 2020). Along with several challenges, the infodemic is
4.2.1. Cluster 2a (COVID-19, big data, & advanced analytics) and cluster
also creating opportunities to identify and adopt new preparedness and
2b (COVID-19 & data-driven decision-making)
response tools to fight COVID-19.
During the COVID-19 pandemic, big data and advanced analytics
are helping to detect surface indicators related to the pandemic (Guo
4.2.5. Cluster 2f: COVID-19 & socio-technical transitions
et al., 2020). Specifically, real-time big-data-driven insights have
According to Wells et al. (2020), the COVID-19 pandemic has led to
helped policymakers and researchers to comprehend and forecast the
a global socio-technical crisis and several alternative futures. It is
reach and impact of the COVID-19 outbreak. Real-time COVID-19
globally, rapidly, and pervasively disrupting existing practices (Huynh,
trackers are helping epidemiologists, scientists, health workers, and
2020) and is quickly emerging as a catalytic and meta-transition event
policy-makers make more informed decisions to fight the pandemic by
that challenges and reshapes the legitimacy and efficacy of existing
aggregating and synthesizing incident big data (Hancox-Li, 2020).
political and economic structures (Sendak et al., 2020; Woodside,
Further, real-time analysis of GPS data indicating people’s movement
2020). These socio-technical changes will redefine future business ac-
within a certain locality is helping the government understand the
tivities and ecological burdens (Huynh, 2020).
population’s compliance with social distancing mandates (Chen, 2020).
Big data analytics are also helping many leaders to make difficult de-
4.3. Cluster 3: COVID 19 & supply chain management
cisions that affect staff, customers, and operational capacity. For ex-
ample, firms are leveraging their internal and external data on, for
4.3.1. Cluster 3a (Impact of COVID-19 on inventory management), cluster
example, customers’ contact history, employees’ information, business
3b (Impact of COVID-19 on supply chain management), and cluster 3c
operations monitoring, and social media to understand different sce-
(Impact of COVID-19 on supply chain resilience)
narios for sustainable development during and after the COVID-19
The COVID-19 crisis continues to globally disrupt manufacturing
pandemic (Donthu & Gustafsson, 2020).
and supply chains, with severe consequences for consumers, businesses,
societies, and the global economy (Ivanov, 2020). The global produc-
4.2.2. Cluster 2c: COVID-19 & emerging technologies tion system has been badly affected due to surges in demand for es-
During the COVID-19 pandemic, digital innovations quickly became sential goods, factory shutdowns, panic-buying, and shifts in consumer
the buttresses of personal and professional life (Panigutti, Perotti, & preference (e.g., online over physical shopping; Ivanov, 2020). Com-
Pedreschi, 2020). Connected digital devices enable both remote work panies are modifying the supply chain by carefully managing inter-
and education. Additionally, chatbots are providing instant life-saving dependent factors, like localization, complexity reduction, dual-sour-
information, partially relieving overwhelmed health systems (Leite cing, and investing in advanced manufacturing technologies (Garvey &
et al., 2020). Further, geolocation information systems are helping Carnovale, 2020). Apart from these initiatives, manufacturing firms are
health workers and researchers to track and map the spread of the virus. taking measures to ensure business continuity. These measures include
Firms and governments are designing and piloting fast, responsive cross-functional controls and coordination on a global and regional
frameworks to implement emerging technologies, like data policy, di- level, increase in safety stocks and shift inventories, pivot freight
gital trade, IoT, AI, drones, autonomous vehicles, blockchain tele- models, improved customer support programs, rebound measures for
medicine, and environmental innovations (Panigutti et al., 2020). demand returns, and quick reactions to changing sources of demand in

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order to secure revenue streams (Ivanov & Dolgui, 2020). future practice and research work (Table 2).

4.4. Cluster 4: COVID 19 & service industry

5.1. Cluster 1: Overall impact of COVID-19 on business
4.4.1. Cluster 4a: Impact of COVID-19 on travel & tourism
The viral outbreak has paralyzed the tourism industry, leading to Due to fears of a financial collapse and new recession, resilient
job losses and devastating economies that are highly dependent on businesses and sturdy government leadership are urgent and critical
tourism (Boulos & Geraghty, 2020). Tourism and cities have strongly (Giritli Nygren & Olofsson, 2020). Short-, medium-, and long-term
intertwined economic, social, and environmental relationships, which plans are required to rebalance and re-energize the economy (Michie,
shape localities, landscapes, and regions. According to the United Na- 2020). In addition, socioeconomic risk assessments and strategies for
tions World Tourism Organization (UNTWO), this pandemic has led to a robust and sustainable business models are required across every sector.
potential loss of USD 30–50 billion for the travel and tourism industry The COVID-19 pandemic is radically changing the demand pattern for
(UNWTO, 2020), as several countries and regions have imposed entry products/services, which has in turn increased the risk of fragility in
and exit bans and other restrictions, which have decreased willingness global and regional supply chains and networks (Lee et al., 2020). To
to travel (Higgins-Desbiolles, 2020). sustain and position themselves for the “new normal,” firms should
improve their operational resilience, accelerate end-to-end value chain
digitization, rapidly increase the transparency of capital and operating
4.4.2. Cluster 4b: Impact of COVID-19 on education
expenses, embrace remote work, reimagine sustainable operations, and
Closure of educational institutes due to the pandemic has not only
ensure competitive advantage. In addition, start-ups need to be more
affected students and teachers but also created economic and social
flexible and adapt their business models to dynamic markets. Policy
consequences related to digital learning, Internet facilities, childcare,
measures will only be successful if they are complemented by an en-
food insecurity, healthcare, and housing (Arora & Srinivasan, 2020). As
trepreneurial ecosystem. Further, policy-makers need to implement
of May 10, 2020, 1.3 billion (approximately 73.5 percent) students
measures to protect start-ups and adopt or discard policies in the future
across 177 countries have been affected by the closure of educational
based on the knowledge derived from crisis situations (Kuckertz et al.,
institutes (Zhang, Wang, Yang, & Wang, 2020). Educational institutes
2020). Based on this, we propose the following:
are opting to conduct classes through internet, digital devices and on-
line platforms (like group video programs) (Arora & Srinivasan, 2020). Proposition 1a. The COVID-19 crisis not only requires short-, medium-,
and long-term plans to rebalance the economy but also raises a clarion call
4.4.3. Cluster 4c: COVID-19 & essential services for robust and sustainable business strategies across every sector.
The COVID-19 crisis is affecting all service sectors due to either
Proposition 1b. The COVID-19 crisis demands new operating models to
spikes or surges in demand. For example, while the retail, tourism, and
meet changing demand patterns and remain agile and productive.
aviation sectors have been badly affected due to the closure of services
to mitigate the risk, food retailers and grocery stores are struggling with Reforms in trade policy during the COVID-19 pandemic will help to
rising demand as consumers are trying to stock up for long periods of reduce the negative economic and social impact of the virus, which will
isolation (Addo, Jiaming, Kulbo, & Liangqiang, 2020). Essential service eventually help to build resilience and ensure economic recovery. For
workers are working in grim and testing working environments, con- instance, reforms in trade policy can reduce the need for close contact
tinuously exposed to the virus with no choice but to work (Frazer, between transporters, traders, and officials, helping to maintain social
Merrilees, Nathan, & Thaichon, 2020). Therefore, essential services distancing and limiting the spread of the virus (Carnevale & Hatak,
need to consider the direct and indirect impacts on employees’ occu- 2020). Further, to mitigate disruptions in the regional and global value
pational safety and health. chain, interventions in logistics operations are required. The impact of
this pandemic on employment is unprecedented and will continue to
5. Research propositions for future studies increase; therefore, economies urgently need to implement policy
measures to boost the demand for labor. The new labor policies should
As the COVID-19 crisis continues to impact businesses in the next effectively consider health protection measures and economic support
few years, economic, societal, and technological changes will become on both the demand and supply sides (Bell & Blanchflower, 2020). Also,
unavoidable for survival. Given this backdrop, the current study pre- businesses should pay special attention to building capacity and up-
sents a bibliometric review of 107 papers on the ramifications of dating employees’ technological skills (Carnevale & Hatak, 2020).
COVID-19 in the domain of business and management in order to de- Based on this, we propose the following:
lineate this emerging research field and summarize the available
Proposition 1c. Reforms in trade policies are required to reduce the
knowledge. This sub-section provides a synopsis of the four main
negative impact of the COVID-19 crisis.
clusters discussed in Section 4. The synthesis of four distinct research
streams in the COVID-19 domain reveals several new opportunities for Proposition 1d. Changes in existing labor policies are needed to boost the

Table 2
Summary of propositions for future studies that emerged in each theme.
Themes Propositions

Overall impact of COVID-19 on business Proposition 1a: The COVID-19 crisis not only requires short-, medium-, and long-term plans to rebalance the economy but also raises a clarion
call for robust and sustainable business strategies across every sector.
Proposition 1b: The COVID-19 crisis demands new operating models to meet changing demand patterns and remain agile and productive.
Proposition 1c: Reforms in trade policies are required to reduce the negative impact of the COVID-19 crisis.
Proposition 1d: Changes in existing labor policies are needed to boost the demand for labor.
COVID-19 & Technology Proposition 2a: The COVID-19 crisis indicates the acute necessity of the implementation of advanced technologies across different sectors.
Proposition 2b: Resisting the social-technical meta-transition is essential in the COVID-19 crisis.
COVID-19 & Supply Chain Management Proposition 3a: The COVID-19 crisis demands resilient strategies to reduce manufacturing complexities.
Proposition 3b: Modification of existing supply chain measures is required to ensure business continuity while dealing with the COVID-19 crisis.
COVID-19 & Service Industry Proposition 4a: The COVID-19 crisis requires robust strategies in different service industries to ensure compliance.
Proposition 4b: Switching from existing teaching styles is required to reduce the challenges of learning while dealing with the COVID-19 crisis.

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demand for labor. learning and communication (Zhang et al., 2020). Along with these
technical challenges, many students and parents do not have access to
the proper technologies for distance learning, like the Internet and di-
5.2. Cluster 2: COVID 19 & technology gital devices, or the necessary skills to handle them. Based on this, we
propose the following:
In the COVID-19 crisis, digital technologies, like the Internet of
things, AI, and blockchain are becoming essential for economic and Proposition 4a. The COVID-19 crisis requires robust strategies in different
social functioning (Huynh, 2020). Drones can be used for surveillance service industries to ensure compliance.
to ensure safety guidelines are being followed and to spray disinfectants Proposition 4b. Switching from existing teaching styles is required to
on affected areas (Leite et al., 2020). AI-powered tools could be used to reduce the challenges of learning while dealing with the COVID-19 crisis.
obviate the need for manual temperature checks and distance analysis
Panigutti et al., 2020). Data-driven insights have the potential to fa-
cilitate accurate prediction of impacts and can make the difference 6. Implications
between a misstep and a strong continuity response in these uncertain
times (Hancox-Li, 2020). Although these emerging technologies have 6.1. Academic implications
immense potential as equalizers, without the right governance, they
could intensify the digital divide in society. Further, these technologies The objective of this paper was to explore emerging research trends
are associated with critical privacy and security issues and urgently regarding the impacts of COVID-19 on business and management using
require a global baseline consensus on security (Panigutti et al., 2020). bibliometric and science mapping approaches. This article contributes
The right information related to the pandemic is key for the success of to research on COVID-19 by elucidating the theoretical evolution of
mitigation measures, but the infodemic has exacerbated the crisis, COVID-19 research and its linkages with multiple economic, social, and
propagating misinformation through social media platforms and other technological factors. Broadly, the findings and propositions of this
channels (Huynh, 2020). It should not be doubted that the COVID-19 article contribute to the epistemological discourse on collective
pandemic has affected relationships within socio-technical systems at knowledge about the impact of COVID-19 on business and management
the landscape and regime levels. Global stabilization agents, such as the by examining the most productive authors. In addition, the results show
WTO, World Bank, and United Nations, can help to create checks and how knowledge is evolving over time based on the use of keywords.
balances and attempt to ensure a return to business as usual (Sendak Importantly, an understanding of the contributions of the most pro-
et al., 2020). Based on this, we propose the following: ductive scholars and their research helps other researchers build on
their work by choosing and following a line of inquiry. Ivanov, the most
Proposition 2a. The COVID-19 crisis indicates the acute necessity of the
productive researcher in this area, has mainly focused on the short- and
implementation of advanced technologies across different sectors.
long-term impacts of epidemic outbreaks on global supply chains and
Proposition 2b. Resisting the social-technical meta-transition is essential in intertwined supply networks’ resilience. Ivanov’s publications help
the COVID-19 crisis. identify different elements of risk preparedness, mitigation, and re-
covery policies.
This study outlines several research propositions that can serve as a
5.3. Cluster 3: COVID 19 & supply chain management foundation for future research in the area of COVID-19. There are
several theoretical, conceptual, and empirical research opportunities to
This sudden shift in the global production system has raised ques- understand the development of a new paradigm and advancement of
tions about the resilience of global and local value chains and has existing theories within the business domain due to the disruption
caused firms to rethink and transform their overall approach to man- caused by the COVID-19 pandemic. Additional empirical research op-
ufacturing and the supply chain model. Companies should launch portunities have been created by the emergence of a body of knowledge
strategic initiatives to create more resilient supply chains. The opera- regarding COVID-19 and subsequent modifications to this knowledge.
tion model should be adjusted to enable more flexible and decentralized This is the first academic work to recommend a set of propositions for
manufacturing with a consistent risk management system. Also, cross- future research work intended to advance this body of knowledge.
industry collaboration models need to be redefined, and product port-
folios require thorough reviews to reduce complexity. Based on this, we
6.2. Managerial implications
propose the following:
Proposition 3a. The COVID-19 crisis demands resilient strategies to reduce This study could benefit managers interested in adopting a proactive
manufacturing complexities. approach to understand which changes in strategies, services, and
products are required to meet unprecedented demands and develop
Proposition 3b. Modification of existing supply chain measures is required
sustainable business practices. A major practical lesson is that the
to ensure business continuity while dealing with the COVID-19 crisis.
COVID-19 crisis is quite complex and has caused not only changes in
existing business models but also a need to understand and observe
5.4. Cluster 4: COVID 19 & the service industry transitions in the economy, business, and society. The propositions
discussed above suggest that, to mitigate the COVID-19 crisis, managers
The COVID-19 pandemic will have a long-lasting effect on inter- require forward thinking, new strategies, and re-planning on several
national tourism due to travel restrictions and changes in people’s risk fronts. The propositions give managers and decision-makers a variety of
perception of overseas travel. This global epidemic has impacted tourist practical insights into the challenges posed by COVID-19 and actions
destinations, leading hotels, restaurants and bars, theme parks, mu- and reforms that must be carried out at the economic, social, and
seums, trade fairs, and cultural and sports events to be deserted (Boulos technological levels. The propositions also help managers to predict the
& Geraghty, 2020). The authorities responsible for providing different need for advanced technologies, supply chain resilience, and organi-
services should provide clear and consistent guidance to workers to zational agility to achieve the right growth trajectory for growth.
ensure compliance (Frazer et al., 2020). In the education sector, sudden
switching of teaching styles is creating several challenges, like changes 6.3. Policy implications
to learning plans, acclimatization issues with new online platforms, and
conversion of lessons and hands-on learning materials to remote The economic consequences of the COVID-19 crisis require urgent

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