Effect of COVID -19 and Strategic Response: A Review on Sri Lankan Construction Industry

International Journal of Economics and Management Studies

© 2020 by SSRG - IJEMS Journal

Volume 7 Issue 6

Year of Publication : 2020

Authors : L.P.D.S. Pathirana

10.14445/23939125/IJEMS-V7I6P110

How to Cite?

L.P.D.S. Pathirana, "Effect of COVID -19 and Strategic Response: A Review on Sri Lankan Construction Industry," SSRG International Journal of Economics and Management Studies, vol. 7,  no. 6, pp. 65-69, 2020. Crossref, https://doi.org/10.14445/23939125/IJEMS-V7I6P110

Abstract:

Covid-19 virus was first identified in Wuhan, China, in December 2019, and it has been spreading out all over the world by having a huge impact on the world economy. Meanwhile, the World Health Organization (WHO) announced this as a pandemic situation, and no one could find a permanent solution so far. Sri Lanka is also fallen into a crisis situation, and many industries were seriously affected by its direct impact, including export-driven firms. Empirical studies are yet trying to confirm the effective solutions for the social and economic impacts of Covid-19. This paper attests to reviewing the contemporary views shared by formal information sources on the crisis caused by the Covid-19 pandemic situation whilst specific attention was made to Sri Lankan practices. The paper has discussed how the economic impact was attributed in Sri Lanka whilst a special review is done on the construction industry. The Paper was fully based on a literature review, and the author used observational pieces of evidence found in the industries to extend the discussion. This study brings attention to how Sri Lanka should be alert on economic measures and the role required by the management of the construction industry after the Covid-19 pandemic situation. The author attempts to contribute practice related thoughts for the managerial implications on how business firms and society need to respond to such crisis situations.

Keywords:

Covid-19, Construction Industry, Pandemic Situation, Strategies.

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