ASSESSING BUSINESS RESILIENCE AMIDST PANDEMIC HARDSHIPS

Abstract

In the aftermath of the COVID-19 outbreak, China has not only grappled with severe threats to public health but also significant economic challenges. While the country has made remarkable strides in curbing the spread of the virus and gradually revitalizing its industrial economy, the persistent global presence of COVID-19 and its evolving strains have introduced uncertainties into China's economic landscape. The need for vigilant risk management in China's ongoing economic development remains imperative. Enterprises constitute the foundational units of economic activity, and their operational performance directly influences overall economic health. The outbreak's repercussions have presented formidable challenges to Chinese enterprises, particularly within industries like catering, hospitality, and tourism, which faced existential crises during the early stages of the pandemic. Consequently, China's GDP exhibited a noticeable decline in the first quarter of 2020. Against this backdrop, evaluating the resilience of enterprises in response to pandemic-related disruptions becomes paramount. Such assessments enable businesses to better navigate unforeseen public crises and hold considerable practical significance in advancing both economic and social development.