The COVID-19 pandemic has made people face a crisis that remodelled all our life habits, changed economies and business models and has brought these changes into another phase. In the book presented below, experts in their field try to answer some of the questions regarding the future.
The research aims to contribute to the new standard of sense about COVID-19 from an analytical perspective of different disciplines, to define and relate to the kinds of multi-disciplines which are able to provide users with the relationships of contextual services, to relate and analyse their dynamics and to react accordingly, in a seamless exchange of information during the pandemic to understand the complexities of the pandemic, beginning with information that is theoretically accessible from various viewpoints, through a multidisciplinary approach and in multiple contexts, both indoors and outdoors. Also, this book examined what will be the changes and transformations after COVID-19 too.
As a first, we can observed that fintech ecosystem will be exposed to serious structural changes and lead to the development of new business models, and one of the researchers’ studied financial institutions and markets before the pandemic and financial transformation after the pandemic, as well as a new financial concepts and regulations such as fintech, reg-tech, cryptocurrencies, artificial intelligence, blockchain, and their roles in the financial markets. The other one made a study covering the dates from early 2020 to June 30, 2020, and show , that it was determined that the stock markets with different dynamics in the crisis period acted as if they were a single market. High volatility in the financial markets is expected to continue in the near future as significant uncertainties regarding the pandemic and the economy remain. The next study shows that the process affected the whole world and caused the transformation of globalization through digitalization from the beginning of 2020 is evolving in a hugely different direction. The goal of this study is to define the process that has emerged especially with the COVID-19 pandemic and reshaping the whole world in terms of individual, society, institution and system dimensions and to evaluate it in the light of “The Great Reset” and with the theoretical basis of the “Senism” approach.
The authors also had a look at the German example, as during the COVID-19 pandemic, Germany did not face an overload of the healthcare system because of early testing and analyses and strictly executed measures including the three month long lockdown measures. However, the resulting economic problems led to a prevention paradox. Instead of satisfaction because of better situations compared with countries like the U.S., Brazil and Iran, the protest of citizens against still existing measures increased. The research analysed the medial function “Spotter of uncertain knowledge” and “Live Performer”, which were identified as new roles of scientists in public appearances during the COVID-19 crisis, and its impact on the prevention paradox. It could be found that the transparent communication of uncertain knowledge created trust in science, while certain live performances of research activities generated risk of misinterpretation. Reliable scientific processes were often misused by certain newspapers and social media to draw an image about unprofessional scientists where personal conflicts were foregrounded.
Another issue is that due to the COVID 19 pandemic, transportation between countries stopped and problems regarding supply started to arise. In this case, the economic problem in a country has started to turn into a global economic problem therefore, national and global macroeconomic problems cannot be overcome without ensuring the security of the supply chain. Also in recent years, the spread of microorganisms has increased significantly and started to seriously threaten public health. As a result, the scientists‘ search for new antimicrobial agents has increased studies on antimicrobial activities of nanoparticles. They continue to explore the risk factors for COVID-19, which is a serious threat to the world, which was first noticed in December 2019 in Wuhan, China. It has been stated with the current research of nanotechnology, it can also be used to fight this new corona virus. It has been emphasized that nanotechnology tools can play an important role in the diagnosis, treatment, and advancement of the vaccine development of COVID-19 infection.
The researchers also studied the usage of personal data in mobile applications and other technological tools during the COVID-19 pandemic and analysed it in the different countries, in terms of their privacy policies and data protection laws besides the traditional measures such as quarantine, social distance and social isolation, technological opportunities to prevent the spread of coronavirus in various countries. In most of these applications, personal data such as the health, location and contact information of the persons are stored to prevent the spread of the disease.
When we look at today’s economies we can observe that the services sector rapidly increased its share of the economy, but talking about the services sector here, we have to consider not only the banking and finance sector, but also the small and medium-sized enterprises that dominate the whole economy. The result, while countries’ economic growth rates decrease, people suffered serious unemployment and income problems. These developments are not limited to certain economies and every country had to live through these problems. In one of the chapters the researchers presented how and to what extent the crisis situations such as pandemic affect the conditions of the world and especially in Turkey. The shortage of financial resources is one of the main challenges facing the deep rooted Turkish private sector. This concerns the economy as a whole and applies to public spending, as well. However, companies need to have access to adequate financial resources and accumulate capital to be able to have a well-functioning structure and keep up with a sustainable trend of growth. From this perspective, growth based on a planned effort, allocation of funds on regular bases, learning by doing (producing) and purchasing guarantee could be a new alternative for the defence industry, which is portrayed as a case of success in Turkey. This form of structure which is called industrial foundations, could be an alternative for Turkish companies to overcome challenges of financial resource shortages and have a well-functioning trend of growth.
As a result of the pandemic crisis, people sought for new answers. The chapters of this book contain valuable research and convey useful information. The changes in the management processes in general lead to a transformation in the organization models in line with the economic trends and changes in these management processes and organizational models arise from the need for businesses to adapt to economic developments faster, more dynamically and more effectively. It brings together organizational models suitable for digitalization, which emerged with the concept of New Economy. As a result of both the new economy and the pandemic process, it can be anticipated that the years 2020-2035 will be a phase in which hybrid organizational models will be developed, with a kind of mixed or more used expression, and then more permanent new types of management approaches and organizational models will appear.