Impact of Enhanced Business Models on Technology Companies in the Pandemic: A Case Study about the Revolutionary Change in Management Styles
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 32920
Impact of Enhanced Business Models on Technology Companies in the Pandemic: A Case Study about the Revolutionary Change in Management Styles

Authors: Murat Colak, Berkay Cakir Saridogan

Abstract:

Since the dawn of modern corporations, almost every single employee has been working in the same loop, which contains three basic steps: going to work, providing the needs for the work, and getting back home. Only a small amount of people was able to break that standard and live outside the box. As the 2019 pandemic hit the Earth and most companies shut down their physical offices, that loop had to change for everyone. This means that the old management styles had to be significantly re-arranged to the "work from home" type of business methods. The methods include online conferences and meetings, time and task tracking using algorithms, globalization of the work, and, most importantly, remote working. After the global epidemic started, even the tech giants were concerned. Now, it can be seen that those technology companies have an incredible step-up in their shares compared to the other companies because they know how to manage such situations even better than every other industry. This study aims to take the old traditional management styles in big companies and compare them with the post-Covid methods (2019-2022). As a result of this comparison made using the annual reports and shared statistics, this study aims to explain why the winners of this crisis are the technology companies.

Keywords: COVID-19, technology companies, business models, remote work.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 335

References:


[1] G. Cuofano, "Business, Business Models," 2 April 2022. (Online). Available: https://fourweekmba.com/what-is-a-business-model/#List_of_business_models.
[2] H. Ritchie, E. Mathieu, L. Rodés-Guirao, C. Appel, C. Giattino, E. Ortiz-Ospina, J. Hasell, B. Macdonald, S. Dattani and M. Roser, "Our World in Data," 5 3 2020. (Online). Available: https://ourworldindata.org/covid-stay-home-restrictions.
[3] T. Hale, N. Angrist and R. a. e. Goldszmidt, "A global panel database of pandemic policies (Oxford COVID-19 Government Response Tracker)," Nat Hum Behav 5, p. 529–538, 2021.
[4] "How businesses responded to COVID-19," 8 9 2020. (Online). Available: https://resources.workable.com/stories-and-insights/how-businesses-responded-to-covid-19-and-what-theyre-planning-now.
[5] S. Ovide, "‘A Perfect Positive Storm’: Bonkers Dollars for Big Tech," 2021. (Online). Available: https://www.nytimes.com/2021/04/29/technology/big-tech-pandemic-economy.html.
[6] Owl Labs, "State of remote work 2021 - 5th Annual Edition," 2021.
[7] Henry, "Every Company Announcing a Hybrid Work Model (Update: Mar 21, 2022)," 21 3 2022. (Online). Available: https://buildremote.co/hybrid-work/hybrid-work-companies-list/.
[8] C. Labitoria, 27 10 2021. (Online). Available: https://www.hcamag.com/us/news/general/these-10-well-known-companies-offer-fully-remote-or-hybrid-work-arrangements/314596.
[9] N. Routley, "Charting the Continued Rise of Remote Jobs," 15 10 2021. (Online). Available: https://www.visualcapitalist.com/charting-the-continued-rise-of-remote-jobs/.
[10] CoSo, "CoSo Cloud | Secure Virtual Training & Collaboration," 17 2 2015. (Online). Available: https://www.cosocloud.com/press-releases/coso-survey-shows-working-remotely-benefits-employers-and-employees. (Accessed 11 5 2022).
[11] P. B. Lester, E. P. Stewart, L. L. Vie, D. G. Bonett, M. E. P. Seligman and E. Diener, "Happy Soldiers are Highest Performers," Journal of Happiness Studies, 2021.
[12] J. Steward, "The Ultimate List of Remote Work Statistics for 2022," 10 3 2022. (Online). Available: https://findstack.com/remote-work-statistics/#:~:text=16%25%20of%20companies%20in%20the,productive%20when%20working%20from%20home..
[13] Airtasker Blog, "The Benefits of Working from Home," Airtasker, 2019.
[14] Pew Research Center’s Social & Demographic Trends Project, "Raising Kids and Running a Household: How Working Parents Share the Load," 4 11 2015. (Online). Available: https://www.pewresearch.org/social-trends/2015/11/04/raising-kids-and-running-a-household-how-working-parents-share-the-load/.
[15] T. Spiggle, "Coronavirus Silver Lining: A Better Work-Life Balance?," 15 10 2020. (Online). Available: https://www.forbes.com/sites/tomspiggle/2020/10/14/coronavirus-silver-lining-a-better-work-life-balance/?sh=6a384d721fc2.
[16] Indeed, "Remote Work Can Bring Benefits, but Attitudes Are Divided," 2018. (Online). Available: https://www.indeed.com/lead/remote-work-survey.
[17] Multiplier, "15 Benefits of Remote Working for Employers for Growth-Oriented Startups | Multiplier," 2018. (Online). Available: https://www.usemultiplier.com/blog/benefits-of-remote-working.
[18] N. Bleu, "36 Latest LinkedIn Statistics, Facts, And Trends For 2022," 25 10 2021. (Online). Available: https://bloggingwizard.com/linkedin-statistics/.
[19] Business of Apps, "Apple Statistics (2022)," 16 3 2021. (Online). Available: https://www.businessofapps.com/data/apple-statistics/.
[20] Monster, "Hiring Millennials vs. hiring Gen Z: What's the difference?," 9 11 2021. (Online). Available: https://hiring.monster.com/resources/workforce-management/employee-retention-strategies/generation-z-in-the-workplace/.
[21] Dell Technologies, "Gen Z: The future has arrived," 2020. (Online). Available: https://www.delltechnologies.com/asset/en-us/solutions/industry-solutions/briefs-summaries/gen-z-the-future-has-arrived-executive-summary.pdf.
[22] F. Richter, "Infographic: Pandemic Reignites Tablet Market Growth," 14 4 2021. (Online). Available: https://www.statista.com/chart/8158/global-tablet-shipments/.
[23] M. Bergen, "Google Is Saving Over $1 Billion a Year by Working from Home," 28 4 2021. (Online). Available: https://www.bloomberg.com/news/articles/2021-04-28/google-is-saving-over-1-billion-a-year-by-working-from-home?sref=Qk91czAc.
[24] K. Weise, "Amazon’s profit soars 220 percent as pandemic drives shopping online," 2022. (Online). Available: https://www.nytimes.com/2021/04/29/technology/amazons-profits-triple.html.
[25] "Costs and Benefits - Global Workplace Analytics - Agile Work, and More," 8 10 2021. (Online). Available: https://globalworkplaceanalytics.com/resources/costs-benefits.