COVID-19 is the pandemic caused by one of the coronaviruses. This virus was not known before the outbreak in Wuhan, China, in December 2019. By January of 2020 it was declared to be a global human health crisis. The deaths and illnesses caused by the virus caused extensive fear and anxiety among people in all societies. The pandemic slowed economic activities nearly to a halt. The challenges of how companies should respond to the disruptions in their supply chains and how they can build more resilient systems, must be systematically addressed. The authors of this paper highlighted essential factors which can help companies to overcome this crisis and other types of crises, by learning from the approaches taken in India, which has a unique and diverse economic system. The Analytical Hierarchy Process (AHP) technique was used to identify the essential factors which can help companies to improve their resilience so they can recover during and after the COVID-19 pandemic era and potentially in other similar complex crises. The results of the AHP evaluation were prioritized by performing a sensitivity analysis to prioritize the essential factors. The “Role of governance” was found to be the most important factor that can be used to help in rebuilding industries and societies and in helping them to become more resilient to future severe shocks. The results of this research were used to develop recommendations for company managers, practitioners and policy-makers. The authors hope that this advice will help India to become a stronger nation with more resilient companies, which are better prepared to anticipate and to respond to future crises. We hope people in other nations will also benefit from the finding presented in this paper.
Purpose
Technology forecasting (TF) and assessment (TA), all in all, apply to any intentional and deliberate endeavours to forecast and view the potential heading, rate, attributes and impacts of technological change, especially for development, advancement, selection and utilisation of resources, which ultimately helps in the benchmarking. A vast variety of methods are available for TF and TA. Till now, practically, no exertion has been made to choose proper, satisfactory innovation methods or technology. The paper aims to discuss this issue.
Design/methodology/approach
In this paper, there is an endeavour to summarise the vast field of TF and TA, through its evolution, functions, applications and techniques. This paper provides the in-depth review of the utilisation of TF and TA methodologies and its improvement, which helps the users in selecting the appropriate method of TF and TA for a specific situation.
Findings
This study concludes that the quest for a single strategy for doing forecast and assessment is a misconception. This neglects to perceive that forecast and assessment oblige a suitable blend of strategies and methods drawn from a variety of fields. Researchers and practitioners must be innovative, imperative and specialised in choosing TF and TA methodologies, and cannot be programmed.
Practical implications
The technology seems to be the most significant driver of the present day global developments. Some technologies have far-reaching implications, and the authors need to understand these issues regarding its’ forecasting and its assessment.
Originality/value
The decision of proper worthy procedure amid a circumstance may have an impact on the exactness and reliability of the forecast and assessment. Significant observations regarding learning, action/s, actor/s and expected outcomes are discussed.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.