Business Management Strategies in the COVID-19 Situation

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Duangta Saranrom
Wisanan Ouparamai
Aphiradee Saranrom

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This research aimed to study strategies for business optimization in the New Normal era for dealing with the COVID-19 situation. The COVID-19 situation, businesses need to adapt rapidly to cope with the shrinking economy and affect the survival of many organizations. Therefore, entrepreneurs will have to adapt to New Normal by crisis has to be turned into an opportunity by adjusting the current strategy to reduce the risk in business management. Today's most widely used 4Ps and 4Cs strategies may not be enough to solve problems and cope with the situation. The researcher realized that the 4Es should be adapted appropriately in order to maximize efficiency in the business operation. A study from a group of entrepreneurs who applied 4E together with 4P was successful. The researcher then used the results to create a model. so that it can be applied in every business group. The research results were found as follows the study show that applying the 4Es strategy to the enterprise should incorporate knowledge of online marketing and the use of artificial intelligence technology (AI) to produce positive results in current's business operations.

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References

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