Outbreak of COVID-19
“The outbreak of COVID-19 is primarily a public health issue, but it is also having a major impact on the economy and the financial system. … The result has been major disruptions to economic activity across the world. This is likely to remain the case for some time yet as efforts continue to contain the virus (Reserve Bank of Australia, 2020).” Many Australian companies have been affected negatively by COVID-19. What elements of the general environment would have the most impact on Australian companies and how would organisational culture help them develop dynamic capabilities in order to survive and thrive in the changing environments? Use management theories and examples from management/business perspective to support your answers.