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- Title
ANALYSIS OF THE EFFECT OF THE COVID-19 PANDEMIC ON THE SUCCESS OF THE OPERATION, MANAGEMENT AND STRUCTURE OF MANUFACTURING ENTERPRISES.
- Authors
Pajkovska, Jasna
- Abstract
This paper aims to determine the impact of the COVID-19 pandemic on the performance of manufacturing companies, changes and consequences in the last year, in order to identify key recommendations and propose concrete measures to support the domestic economy and faster overcoming the crisis caused by the COVID19 pandemic. The changes faced by the production companies in terms of profitability, reduction of the prices of the products they produce, the opportunities for appearance on domestic and international markets, the amount of production, reduction of the number of employees and their salaries are analyzed. Additionally, the changes related to changes in the structure and management, online operation, employs communication and exchange of information are analyzed. All these factors have a great impact on the way companies are organized and operate, and are an important indicator that shows the success of manufacturing companies to face the challenges caused by COVID-19. The analysis identified measures that manufacturing companies believe would be of great help to support them in times of economic crisis. The assessment of the conditions in which the manufacturing companies operate gives clear directions for the needs of reorganization and restructuring of the companies in accordance with the changes in the market. Manufacturing companies must follow market trends and provide flexibility in order to survive on the market. The conducted analysis provides an answer to the ability of manufacturing companies to react quickly and to restructure. Additionally, the analysis identify the degree of digitalization, developing new process systems and online management and how successfully it is implemented in manufacturing companies. Based on the results of the analysis, a clear picture is obtained of the state of the manufacturing industry in the country and the necessary measures to be taken by the government to support the economy and the manufacturing sector. For the purposes of the analysis, a deliberate sample was designed, where the main criteria for identification and selection of potential respondents were: managers or owners of micro, small and medium enterprises, from the production sector, operating in North Macedonia. The analysis of the data is thematic and narrative, to illustrate the views and opinions / examples expressed by the respondents, quotes from the received answers are presented. The obtained results give us a detailed overview of the challenges faced by small and medium enterprises in terms of COVID-19 and how successfully they overcome them. The conclusions provide an overview of the viability of the manufacturing sector to respond to external changes, ie the degree of flexibility to adapt to new market conditions in order to maintain its market position.
- Subjects
COVID-19 pandemic; MANUFACTURING industries; ORGANIZATION management; ORGANIZATIONAL structure; INFORMATION sharing; FINANCIAL crises
- Publication
Knowledge: International Journal, 2021, Vol 46, Issue 5, p777
- ISSN
2545-4439
- Publication type
Article