World Knowledge Forum

[WKF 2020] Business Management Strategies in Pandemics Era│Jay Lee



* Business Management Strategies in Pandemics Era│Jay Lee(Distinguished Professor of University of Cincinnati, Vice Chairman of Foxconn Technology Group): While the pandemic is dismantling the world economy, corporate governance is also in a stalemate. The century-old global companies are confronted with not only bankruptcy but also many more challenges including the collapse of Global value chain. Pandenomics is undeniably creating the whole different circumstances and social trend, namely untact economies, from the previous financial crisis. Whereas the pandenomics is threatening the companies, they should change lemons into lemonade. They can seek for the ways to expand M&A opportunities, groundbreaking changes at work and modify the business portfolio based on the new industry. Now is the time for GVC to be rebuilt, and the opportunities to pursue digitalization in a sophisticated way are also afforded, aligned with the 4th Industrial Revolution. In a nutshell, cost reduction is not the only answer. This session will suggest insights to the companies that are now susceptible to all the challenges that the pandemic has spawned.