Companies and Covid-19: Emerging Challenges and Recovery Strategies through Technological Upgrading

Abstract

This work aims to outline the emerging challenges that businesses are facing as a result of the pandemic spread of Covid-19 and possible solutions for rapid recovery of production and commercial activities. Studies show that the pandemic situation clearly combines with an evolutionary process already underway (revolution 4.0) that requires a reformulation of business models in a digital key. Through the explanation of the concept of techno-corporate gap, a term we coined, in this work it is shown how the “micro” initiatives of companies in adopting innovative systems have “macro” repercussions on the whole, influencing the well-known process of technological gap of an entire country with respect to others. Investments in innovation and business upgrading, therefore, are observed not only as a means to implement recovery strategies but also as a specific contribution that companies can give to make their country more competitive. Moreover, through the description of what we have called “Strategy Poker,” we explain how, during an extremely delicate situations such as the current one, companies must “to raise” rather than “to fold” in order to maintain the trust of all stakeholders and regain market share.