Economic Consequences of Remote Work for Business Continuity and Efficiency: Challenges and Strategic Approaches
Journal: Herald of the Economic Sciences of Ukraine (Vol.46, No. 1)Publication Date: 2024-06-26
Authors : Lazarchuk O. O.;
Page : 82-86
Keywords : remote work; business continuity; economic efficiency; organizational resilience; cybersecurity; digital inequality; strategic approaches;
Abstract
The widespread adoption of remote work has significantly transformed the modern business landscape, especially in response to global crises such as the COVID-19 pandemic. This study analyzes the economic implications of remote work for business continuity and economic efficiency, which is particularly relevant in the context of the modern global business environment reshaped by the pandemic. The implementation of remote work has fundamentally altered traditional business processes, creating new opportunities and challenges for organizations. One of the key aspects is the impact of remote work on the economic efficiency of companies, which includes reducing office maintenance costs but also requires additional investments in infrastructure, cybersecurity, and productivity support. The study also highlights the risks associated with cybersecurity, as the threat of data breaches grows, which can lead to significant financial losses for businesses. The issue of digital inequality, which affects employee productivity due to varying levels of access to technology, is examined. Additionally, the study considers the impact of political decisions, particularly regulations on remote work, cybersecurity, and data protection, on the economic resilience of companies. Organizational resilience is another important aspect addressed in the study. It shows that companies that quickly adapt to new conditions can ensure operational continuity and maintain their market competitiveness. The study also emphasizes the importance of strategic planning, economic modeling, and scenario planning to enhance resilience in remote work environments. Overall, the research contributes to a better understanding of how remote work affects economic efficiency and business continuity, offering strategic approaches to minimize risks and maximize results in a rapidly changing business environment.
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Last modified: 2024-11-11 00:00:13