Impact of COVID-19 on Leadership

Abstract

Covid-19 pandemic has become a global challenge, with over 60 million confirmed cases and more than 1.4 million deaths in 217 countries. Not only has this pandemic affected people all around the globe health-wise, but it has also shaken the world economy tremendously. The outbreak has proved to be the biggest challenge that business leaders and CEOs all around the world have faced after the global financial crisis of 2008. Business leaders are in need to take robust actions for the well-being of their employees as well as businesses. This article discusses the challenges that business leaders and CEOs are facing currently and the actions they have taken to adapt and respond to the changing outlook of the 'business-as-usual.' Leaders, all across the world must redesign decision making policies and strategies to adjust to this 'new normal' and address the systematic risks that will remain even after the pandemic is over.