A preliminary study on exploring the critical success factors for developing COVID-19 preventive strategy with an economy centric approach

Abstract

Purpose In the wake of COVID-19, most of the countries at present, are in a dilemma whether to extend lockdown at the cost of economy or to improve the hard-hit economy by lifting the lockdown. It is indicated by the reputed organizations and medical fraternity that corona will stay here for a longer period contrary to the earlier assumptions. Hence the purpose of this study is to suggest a strategy which balances both preventive measures and economic losses to control the pandemic. Design/methodology/approach There is a need for the identification of the critical success factors (CSFs) for developing COVID-19 preventive strategies to control the pandemic with an economy-centric approach. Findings The six CSFs identified are “Effective communication”, “Social distancing”, “Adopting new technology”, “Modify the rules and regulation at workplace”, “Sealing the borders of the territory” and “Strong leadership and government control”. Research limitations/implications The study has a vital contribution to literature as no previous study has identified CSFs for developing COVID-19 preventive strategies while focusing on the economy. Practical implications Further, these identified CSFs are helpful in medium and longer-term planning which is required to rebalance and re-energize the economy following this epidemic crisis. Originality/value The study has given a model that depicts the cause and influence relationship between the key factors in the system under question. The importance of study increases many fold, as resources are limited and the outcome of the study could be used to channelize the resources effectively.

The effect of COVID-19 pandemic on domestic tourism: A DEMATEL method analysis on quarantine decisions

“… Maqbool and Khan (2020) ’ study concluded that lack of resources for implementing public health and social measures is the most influential barrier. In another study, Kashyap and Raghuvanshi (2020) identified the critical success factors for developing COVID-19 preventive strategies to control the pandemic using the fuzzy logic based DEMATEL method.…”

Preparing future entrepreneurs: reflections about the COVID-19 impacts on the entrepreneurial potential of Brazilian students

“…Regarding the mix between personal and professional life in particular, Ratten (2020a) and Sheth (2020) believe that the "work from home modality" will be a new trend, and many services will be developed to consider this new reality. Changes in people's behaviour are involved in this work modality and need to be debated, as argued by Kashyap and Raghuvanshi (2020) and Madero G omez et al (2020). Another interesting study about consumer behaviour changes during the social distancing caused by COVID-19 pandemic is presented by Kirk and Rifkin (2020).…”

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“…France has even put together a fund of 4 billion euro to support their start-ups. Start-up companies have always taken more risk than other companies as mentioned by Kashyap and Raghuvanshi (2020). They capitalise on innovation and brilliance.…”