Crisis management

How Innovative Managers Can Take Advantage of Global Crises
This article is about innovative managers in international business, focusing on their impact, recent research, and real-life examples of success and change in global markets.

Introduction:
Innovative managers must have the ability to deal with crises and strategically use crisis situations to expand their business.

Characteristics of crisis management in international business:
• Quick and creative thinking: Embrace change quickly and flexibly
• Strategic decision-making ability: The courage to make challenging decisions in times of crisis
• Communication ability: Maintaining effective relationships with business partners during times of crisis

Example:
During the COVID-19 pandemic, Zoom, led by Eric Yuan, was able to conquer new markets and significantly increase its market share by using innovation in video conferencing technologies and supporting global businesses to continue their activities.

Impact of COVID-19 on Zoom’s Growth

Revenue Year ($M) 2019
Growth Percentage During Crisis 0%
Number of Active Users 330.10 Million

Revenue Year ($M) 2020
Growth Percentage During Crisis 900%
Number of Active Users 300 Million

Revenue Year ($M) 2021
Growth Percentage During Crisis 55%
Number of Active Users 500 Million

Conclusion:
Innovative managers must exploit the situation in times of crisis by using new technologies and their management abilities and create new changes to grow their business.