University of Oulu

Arslan, A., Khan, Z., Kontkanen, M., & Tarba, S. (2021). COVID-19 and the Changing Perception of Strategic Industries. In COVID-19 and International Business (pp. 89–102). Routledge.

COVID-19 and the changing perception of strategic industries

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Author: Arslan, Ahmad1; Khan, Zaheer2; Kontkanen, Minnie3;
Organizations: 1Oulu Business School, University of Oulu, Finland
2Business School, University of Aberdeen, UK
3School of Marketing & Communications, University of Vaasa, Finland
4Birmingham Business School, University of Birmingham, UK
Format: article
Version: accepted version
Access: open
Online Access: PDF Full Text (PDF, 0.3 MB)
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Language: English
Published: Routledge, 2021
Publish Date: 2022-06-21


The COVID-19 pandemic has been referred to as one of the most significant health related crises in recent memory, which has also had significant economic and societal implications. Scholars suggest that defining strategic industries is rather difficult due to the fluidity of the criteria, which can be used to define them, as it tends to change. During the twentieth century, the most significant crises, having taken place globally, were World War I and World War II, as well as multiple influenza pandemics, of which the Spanish flu being the most severe one. The COVID-19 pandemic has brought a renewed focus on strategic sectors, which can have far reaching implications for international business. Despite all restrictive policies, discussed above, it is a well-known fact based on the outcomes of prior crises that in order to limit the negative outcomes of the pandemic, international cooperation and collaborations are fundamental among private sector firm, including multinational companies, global institutions and policy makers.

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ISBN: 978-1-003-10892-4
ISBN Print: 978-0-367-62324-1
Pages: 89 - 102
DOI: 10.4324/9781003108924-8
Host publication: COVID-19 and International Business : Change of Era
Host publication editor: Marinov, Marin A.
Marinova, Svetla T.
Type of Publication: A3 Book chapter
Field of Science: 512 Business and management
Copyright information: © 2021 The Authors. Accepted Manuscript of a book chapter published by Routledge in COVID-19 and International Business : Change of Era on 21 December 2020, available online: