Ethical conduct was a key part of the epidemic’s business strategy. Eating places’ financial viability was threatened by the epidemic (Yost and co., 2002). They used a variety of cost-cutting strategies to ensure sustainability. They moved from in-store traditional services to ecommerce. The use of online services helped to improve governance, accountability and compliance. E-commerce platforms allow restaurants to prevent viral infection and improve safety for vulnerable customers (Wei et. al., 2002). Covid-19 also prompted corporations to realize the importance of achieving their triple bottom line goals, which include financial development, social responsibility and environmental stewardship. Corporations have a social obligation to safeguard the security of their clients (Lakshmi & Shareena, 2020). The report examines the impact of COVID-19 on the business model and the sectors that have been affected by it. The report will examine how corporate social responsibility helps ensure that businesses operate with the best interests of society as well as the environment.
Acceptance of the e-Commerce Model
Online platforms that allow firms to do business and communicate with clients via e-commerce are called e-commerce. Covid-19 forced restaurants to comply with regulations. This led to the closing of businesses and a restriction on how many diners could be allowed in. To attract customers online and improve turnover, restaurants that are technologically-aware and innovative used e-commerce to both B2B as well as B2C business strategies. The ecommerce strategy was chosen by organizations to establish governance and ensure that they comply with the government’s rules. Covid-19 required certain restaurants to adopt telecommuting to allow staff to remotely manage client orders and deliver the goods. Restaurants could use virtual infographics to measure worker performance, order frequency, revenue and turnover. The e-commerce concept allowed for better managerial oversight and increased accountability. E-commerce platforms enable restaurants to track and keep inventory. This improves their financial reporting. Proper financial reporting encourages transparency and accountability throughout the entire value chain. E-commerce provides feedback about service efficiency. Restaurants may also use e-commerce for impartiality and prejudice prevention in their recruitment and selection processes. An e-recruitment platform allows customers to submit their resumes and ensures only qualified candidates are selected.
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