The Impact of the COVID-19 Pandemic on the Global Risk Landscape in the Era of SMART WORLD
The Impact of the COVID-19 Pandemic on the Global Risk Landscape in the Era of SMART WORLD

Summary/Abstract: Purpose: The purpose of this paper is to identify the impact of the COVID-19 pandemic on the trend ofchanges in the landscape of global risks together with the implications of these changes for managementin the SMART WORLD era. Design/methodology/approach: The research process was based on the triangulation of research methods.The main research method used was the analysis of the World Economic Forum’s “The Global RisksReports” for the years 2018–2021. The other method used in the research were a comparative analysisand selected quantitative tools. Findings: The conducted empirical research allowed the authors: 1) to show the current global risks,taking into account the likelihood of their occurrence and impact, 2) to select the categories of globalrisks (from among economic, environmental, geopolitical, social and technological risks) that had thegreatest significance in the periods under analysis, 3) to identify the five most important global risks interms of their likelihood and impact in all these periods, 4) to identify changes in global risks resultingfrom the COVID-19 pandemic, 5) to establish implications for business management in the SMARTWORLD era, resulting from the observed trends in pandemic-triggered changes in global risks.Research limitations/implications: The results of the conducted empirical research may be applied inbusiness practice, including the management of enterprises; firstly, those struggling with the changescaused by the global COVID-19 pandemic, and secondly, those simultaneously adapting to the requirementsof SMART WORLD. Originality/value: The most significant value of the performed empirical research is the demonstration ofthe impact of the COVID-19 pandemic on the global risk landscape and the formulation of implicationsensuing from changes in global risks posed for management in the SMART WORLD era.

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