The impact of COVID-19 on the philosophy of doing business in a sustainable environment

The article presents the results of the analysis of business philosophy changes under
the influence of COVID-19 in the context of sustainable development. The aim of the
article is to study the change in the philosophy of doing business under the influence of
COVID-19 consequences and to highlight the main features of the philosophy and
vectors of development. In the process of describing the business philosophy, the
authors proposed an approach based on the criteria of sustainable development. The
methodological basis of the study were methods of comparison, generalisation, analysis
and synthesis, scientific abstraction, and expert evaluation. Characterisation of certain
business philosophies was based on open public information on certain sectors of the
economy, according to GICS. This approach enabled international comparability of
research results. The authors found that the business philosophy has changed under the
influence of COVID-19 and received an ecological, socio-psychological focus. Analysis
of business philosophies allowed us to identify new slogans in the philosophy of
generalised enterprises by sectors of the economy (industrial and consumer). The
hypothesis that the business philosophy should be simple and customer-oriented has
been confirmed. At the heart of this philosophy are social responsibility, economic
aspects, corporate culture, and the goals of sustainable development.