HSBC in their survey

Your name Course and SectionProfessor’s Name January 08, 2024 The Impact of the COVID-19 Pandemic on Businesses: A Business-Technology Lens The Pandemic has reshaped the business and world economy and the HSBC survey offers a detailed analysis of such changes. Its cues emphasize how it has had a deep and transformative role in various organizations and how technology and sustainability are now the pillars of organizational stability. From the perspective of a business manager, this aspect of the story is largely positive because it underlines several of the important factors that are most paramount, especially in times of crisis, which include flexibility, cooperation, and creativity in the formation of the future. The following paper examines how the pandemic has affected businesses and their stakeholders by focusing on technology as the lens. Positive Transformations Through Technology Businesses have been able to survive through the pandemic through increased use of technology that has fostered remote working, virtual meetings, and online payments. The same survey shows that currently, 61% of companies rely on virtual collaboration tools as normal business continuity and improved communication tools. Technology is a broader concept including cultural transformation in which IT supports decentralized decision-making and provides employees with tools to mitigate issues. The research finds that the application of technology supports organizational continuity during disasters and the long-term development of the organization (Sheffi, 2015). Sust...