Strategies to Mitigate COVID-19 Challenges in International Business

This report critically evaluates international business strategies in response to the challenges posed by the COVID-19 pandemic, focusing on a case study of Next Plc. It begins with an abstract outlining the research's aims, objectives, and methodology, including the use of secondary data and content analysis. The introduction provides an overview of international business and identifies the research problem, question, and objectives, as well as the limitations of the study. A critical literature review explores the importance of developing effective international business strategies, examines the major issues caused by COVID-19, such as supply chain disruptions and workforce management, and analyzes different strategies to mitigate these challenges. The research methodology section details the research philosophy, approach, data collection methods, and analysis techniques. The data analysis section presents the findings, followed by a conclusion that provides evaluations regarding customer relations, economic influence, cost management, and workforce enhancement. Finally, recommendations are offered to help businesses conduct future operations effectively and resolve issues arising from COVID-19, contributing valuable insights for international businesses navigating the pandemic's impact. The report emphasizes the need for adaptable strategies to ensure business continuity and success in a rapidly changing global environment.

STRATEGY AN INTERNATIONAL BUSINESS
(The most effective strategy that should be consider
by international business in order to deal with
challenges due to COVID 19)

ABSTRACT
International business strategy is concerned with the plans that help in
guide commercial transaction that taking place among entities in the various
countries. It is a way under which an organisation makes choice regarding
acquiring as well as use the scare resources to accomplish international
goals. This included deciding services and goods which are mainly provided,
market to entered and also dealing competition. Present investigation aim is
to evaluate plan international business strategies in order to effectively deal
with the challenges like supply chain management, workforce management,
cost and operational management, customers relationship and so on. of the
global business environment due to COVID 19. The business strategies are
helpful in conducting business at international level and targeting the more
consumers. This helps in enhancing the business profitability and the profit
rate. The objectives have been developed on the basis of research aim. In
collecting the information in literature review part, there has been secondary
sources used such as books, magazines, articles, internet sources etc.
Through these sources, researcher achieved all the set objectives within
given period of time. In the research methodology part, there has been
interpretivism philosophy used, qualitative research method and the
secondary method for collection of data. In order to gather the information,
there has been secondary method of data collection used as it provide the
detailed information as well as analysis of the data in an effective manner.
The main reason behind using this method is that it is time saving and the
cost saving. For analysis of the collected data, there has been content
analysis technique used.
At the end, conclusion is effective in providing suitable evaluation
regarding the issues like customers relation, economic influence, cost
management, workforce enhancement and so on which are bing arises due
to the pandemic of COVID 19. As well as the section is also initiating the
suitable international business strategies which are effective in terms of

providing a significant way to the businesses to operate within the outbreak
of COVID 19. Afterwards, the section of recommendation is also creating
value for the businesses in conducting future operation in effective manner
and effectively resolve the issues arises through COVID 19.

Table of Contents
ABSTRACT.....................................................................................................................................2
INTRODUCTION...........................................................................................................................5
Overview of Research.................................................................................................................5
Research problem........................................................................................................................5
Research question.......................................................................................................................6
Research Aim..............................................................................................................................6
Research objectives.....................................................................................................................6
Limitations of the report.............................................................................................................6
CRITICAL LITERATURE REVIEW ............................................................................................7
Importance of developing effective international business strategies.........................................7
Major issues due to COVID 19, which have an impact on business and its operations.............9
Different international business strategies which will support in dealing with the COVID- 19
issues on the global business environment................................................................................12
RESEARCH METHODOLOGY...................................................................................................14
Research philosophy.................................................................................................................14
Research approach....................................................................................................................14
Data collection method.............................................................................................................15
Data Analysis............................................................................................................................16
Ethical consideration.................................................................................................................17
DATA ANALYSIS........................................................................................................................18
CONCLUSION..............................................................................................................................24
REFERENCES..............................................................................................................................28

INTRODUCTION
Overview of Research
International business can be described as the organisation which is
conducting business task and operations across the national boundaries. This
type of business are combines the economics, social culture, resources,
technology, human recourse and so on in order to effectively and efficiently
conducting the business task (Peterson and et. al, 2020). It is essential for
international business to develop an effective and efficient business strategy
in order to successfully conduct business task as well as to attain desired
goals and objective. The research methodology is adequately evaluated for
identifying the different sources of collected data. Gather information or data
is analysed for interpretation. Apart from this different recommendation has
been giving in order to improve the performance of the company.
Research problem
This report is based on Next Plc company. This company is performing
a business task in the retail sector, and it is providing its products and
services to a large market area. This is a multinational company that is
providing its products and services to large market area. Due to Corona virus
performance of this company is affected. This will lead to have negative
impact on business operations and influence strategies of company. Next Plc
was developed in 1864 and founder of this company is Joseph Hepworth
(About Next, 2020). Headquarter of this company is located in Enderby,
Leicestershire, United Kingdom. This report will include a literature review in
order to analyse the viewpoint of other authors. This research project is
developed in order to identify the problems that are faced by international
company due to increase in COVID 19 issues. Due to this, international
business strategies are influences, and it will directly impact over the
productivity and performance of the business. COVID 19 lead to influence the
strategies of business as well as affect the purchasing decision of customers.
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Research question
What is the most effective strategy that should be consider by
international business in order to deal with challenges due to COVID 19?
Research Aim
To critically evaluate the plan international business strategies in order
to effectively deal with the challenges of the global business environment
due to COVID 19. Case study of Next Plc.
Research objectives
 To identify the importance of developing effective international
business strategies.
 To determine the significant issues due to COVID 19, which have an
impact on business and its operations.
 To analyse the different international business strategies which will
support in dealing with the COVID 19 issues on the global business
environment?
Limitations of the report
There are different limitation that has been determined, which will lead
to having an impact on the overall performance of this research. The major
limitation that could impact the investigation is lack of time duration. There
is less time provided to the investigator to conduct all research practices in a
more effective and efficient manner. Due to lack of time researcher will not
be able to perform the different task of research successfully, and it will
impact over the outcome of the research. It is essential for the researcher to
develop an effective and robust strategy in order to deal with the issues or
limitation of this research.
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CRITICAL LITERATURE REVIEW
It includes different sources by which in-depth information is gathers
including books, journals, articles, magazines, newspapers and many more
(Cho, 2020). Researcher use previous study on the basis of international
business strategies in order to effectively deal with the challenges of the
global business environment due to COVID-19. In this, different authors give
their view point that support researcher in attaining positive outcomes within
the investigation (Torales and et. al., 2020).
Importance of developing effective international business strategies
According to opinion of Hill (2020), international business strategy is
related to plans which guide the commercial transactions that taking place
among businesses in various countries. It is explained as actions and plans of
private firms rather than the government as to enhanced profit. Most of the
organisations size that deal with the single international partner in the
supply chain and also well competition at the global level. Using the global
business strategy is related to focus on exporting the services and goods to
the international markets the resources to different countries for the
domestic use. The better expansion into the new market demands that firms
adopt the global business strategies which better fit to requirements as well
as capabilities.
As contrary to this, Richard C. Hoffman and C. Gopinath (2020), Growth
of the international business helps in increasing the market share as well as
profitability of business at large scale. In regards to this, technology and
internet have made this easier for the firms to profit from several benefits
related to the international trade. Going to international could give business
access to opportunities world. The main importance to the international
business strategies is that this helps in enhanced the revenue by increase
number of the potential consumers. When an organisation hires the
international staff for new market then in this case international strategy can
assist in diversity as well as expand business (Crawford and et. al., 2020).
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Firm may search better opportunities to save the cost through having
manufacturing of goods completed in to foreign country where the labour
cost is minimum (Sohrabi and et. al., 2020).
After critically analysing the perspectives of the above mentioned
authors it has been analysed that, the views from Richard C. Hoffman and C.
Gopinath (2020), are more liable in determining the significance of
developing effective international business strategies. As they stated that, in
the modern business era, organisations are working for achieving some
specific objectives and the primary concern of the businesses is to
approaching international market for the purpose of enhancing the
operations of the business. Therefore, international business strategy is an
important aspect which is widely be considered by the businesses and its
management to develop competition within domestic markets as well as
introduces new opportunities to foreign markets. However, international
business strategy also aids the businesses to enhance diversity at workplace
and making business operations more effective with the better handling of
customers within new market. In addition to this, an international business
strategy is also creating value for the business in approaching customers
from a wider market and enhance the operations effectively. The perspective
of authors is effective but they still have a gap in the literature which is
relating to the customer’s engagement and the increasing revenue of the
business as the authors has stated only the importance in terms of
developing the operational enhancement. With the present investigation,
researcher intend to bridge this gap.
Major issues due to COVID 19, which have an impact on business and its
operations
As per opinion of Donthu and Gustafsson (2020) businesses should
navigate operational and financial challenges of the coronavirus while
addressing people requirement, suppliers and customers. In this present
time, firms are faced with the overwhelming, uncharted waters and
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competing the challenges as they are continuing to navigate impact of
COVID-19 pandemic situation on the business operations. With COVID-19,
changes in the supply chain, market routes and consumer behaviour are
knocking firms off balance (Smith and et. al., 2020). Responding to pandemic
has been underscored leader’s requirement in order to accelerate adoption
of the working agile ways and also value chain transformation in order to
help the outmanoeuvre uncertainty. COVID-19 pandemic situation has forced
several businesses to be closed that leading unprecedented commerce
disruption in many sectors. Retailers face several short term challenges like
workforce, health and safety, cash flow, supply chain, marketing and
consumer demand. Navigating all these challenge will not be guarantee
promising future.
On the contrary side, Aron (2020), has stated that, the world is
recently witnessing an unprecedented event which is known as COVID-19 it
has direct negative impact over the business and its operations as it closing
organisations globally and restrict the expansion due to lacking with financial
resources and the decreasing level of employees. Therefore, emergency
services are also predicted to be overwhelmed through an influx of sick
patients. Thus, the issue is continuously increasing and the businesses has
facing a lot challenges related to decreasing in business operations, lack of
human resource, financial issues, operational enhancement, taking
corrective business actions, finding balance and attaining a healthy mind set
and so on. The COVID 19 has increasing rapidly and businesses are trying to
copping with the situation and conduct operations but workforce handling is
a major challenge which is being faced by the business. In pandemic of
COVID 19, the role of human resource undergone with a drastic change
through just concerning over operational and personnel management to
being a strategic business partner and simultaneously ensuring employees
feel valued in the organisation.
From the execution conducted over identifying the issues which are
arises due to the pandemic of COVID 19, the views stated by Donthu and
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Gustafsson (2020), is more reliable as they said that, The COVID-19
pandemic outbreak has constrained many organisations to close and also aid
in an unprecedented break of commerce in most business sectors. Therefore,
businesses from each ground involving retailers and brands are facing many
issues due to the outbreak of COVID 19 that includes health and safety, the
supply chain, the workforce, cash flow, consumer demand, sales, and
marketing. However, the effective analysis of these shortcomings are not
able to providing guarantee or a promising for effective future. The opinion
of the authors is effective but still have a gap related to the customer’s
behaviour, targeted customers and the inventory management. Therefore,
these issues are encounter with the assistance of conducting the present
evaluation as these are also major issues which are widely being faced by
the businesses. The outbreak of COVID has influences the economic
condition and individual are preferring to buy the products unless the
requirement of product is high and the inventory management is also
recognised as a challenge as the production is also decreases due to lack of
workforce and this cause issue in managing inventory as well.
Different international business strategies which will support in dealing with
the COVID- 19 issues on the global business environment
According to Springsteen (2020), Number of the Coronavirus cases are
increasing day by day but at this time, organisations are forced to re-
evaluate and innovate way they are mainly operate. The multinational
organisations require navigate pandemic successfully in context to survive
on country by country basis. Other than this, impact on global economy
many enhance based on extent of the geographic spread of virus. Pandemic
has been already developed negative impact on global economy. To deal
with the COVID-19, it is necessary for organisation to provide the guidelines
to employees about the health and safety measures in global business
environment (Sharma and et. al., 2020). Employees should use the sanitizers
and mask properly while working with the other people.
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As contrary to this, Anand (2020) stated that there are different
international business strategies which helps in importing or exporting the
products from the foreign markets such as global, multi- national,
transactional and international. In the global strategy, firm is seeking to
enhance revenue and also upscaling international reach that follow global
strategy and its aim is to expand consumer base. In attempt to minimize
cost, goods are homogenised and also horizon of the international outreach
that broadened through developing the operations in all over the world. In
multinational strategy, firms adopt multinational strategy to investment in
own presence in the foreign market (Dwivedi and et. al., 2020).
According to the analysis of the authors about the aspect of assorted
international business strategies which will support in dealing with the
COVID- 19 issues on the global business environment, it has been state that,
the views provided from Anand (2020) are more effective as the author has
said that transactional global strategy is an effective tool which termed as
the combination of multinational and global business strategy. Therefore, it
is an effective and widely approachable tool to resolve the issues like
production, operations management, inventory assessment, supply chain
and so on which are arises due to the pandemic of COVID 19. However, the
author has initiates over implementing effective measures like work from
home facilities, online operational handling proper healthy and safety
trainings, effective supply chain management and so on.
The opinion of authors is valuable in relation to determining the
business strategies which will support in dealing with the COVID- 19 issues
on the global business environment, but still there is a gap related to
managing relation with customers. Furthermore, the above gap mentioned
will be intended to be bridged in current investigation.
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RESEARCH METHODOLOGY
This refers to the process or procedure that is considered by the
researcher in order to conduct research practices and effectively collect data
successfully. This is a process which will guide the researcher to perform a
research task successfully (Elavarasan and Pugazhendhi, 2020).
Research philosophy
This is considered as the brief for which is used by a researcher that
will assist in gather and accumulate data for getting wanted result of the
examination. This is significant and huge for giving direction to the analyst
so as to lead research exercises in right and precise way. Research
philosophy is majorly classified into two parts, that is positivism and
interpretivism (Fegert and et. al., 2019). Both of these are effective
philosophy which will help in successfully performing the research practices.
In this investigation, the interpretivism research philosophy has been used as
it is based on the qualitative method and helpful in providing the detailed
analysis about the specific subject area.
Research approach
 Qualitative approach – Qualitative investigation approach is
significant for collecting in-depth data and information. This can be
defined as the examination where inside and out, and precise data is
gathered (Guan and et. al., 2020).
 Quantitative approach – This approach of data collection is defining
as the efficient methodology of gathering and examining data. A
quantitative approach will lead to providing data in a more systematic
manner. This type of data can be represented in the form of a number
of statistical information in order to analyse the data and make a
decision effectively. In this examination, the scientist will have the
option to gather and speak to information in the numerical structure.
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