Globalization, Deglobalization, and New Paradigmsin Business

“This book on globalization and deglobalization is timely and interesting giventhe events of 2020, and current times…The authors should be commended fortheir efforts.”

—Dr. Jane Menzies, Deakin University, Australia

“Within IB perspective, authors excellently operate at the firm-, industry-,institutions-, and country-level while re-considering established concepts andbrainstorming on the future (de)globalized life with(in) Covid-19 pandemic.”

—Prof. Andrei Panibratov, St. Petersburg State University, Russia

“The COVID-19 pandemic shook various industries including healthcare, retail,hospitality, and mobility at their very core, putting to the test the validity oftraditional principles that used to guide business operations. The current bookis one of the pioneers to bring together a collection of articles that not onlyaddresses relevant themes and key sectors but also offers concrete solutions tomitigate the future uncertainties of new market reality.”

—Dr. Benadett Koles, IESEG School of Management, France

Justin Paul · Sanjay DhirEditors

Globalization,Deglobalization,

and New Paradigmsin Business

EditorsJustin PaulUniversity of Puerto Rico SystemSan Juan, Puerto Rico

Sanjay DhirDepartment of Management StudiesIndian Institute of Technology DelhiNew Delhi, Delhi, India

ISBN 978-3-030-81583-7 ISBN 978-3-030-81584-4 (eBook)https://doi.org/10.1007/978-3-030-81584-4

© The Editor(s) (if applicable) and The Author(s), under exclusive licence to SpringerNature Switzerland AG 2021This work is subject to copyright. All rights are solely and exclusively licensed by thePublisher, whether the whole or part of the material is concerned, specifically the rightsof translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction onmicrofilms or in any other physical way, and transmission or information storage andretrieval, electronic adaptation, computer software, or by similar or dissimilar methodologynow known or hereafter developed.The use of general descriptive names, registered names, trademarks, service marks, etc.in this publication does not imply, even in the absence of a specific statement, that suchnames are exempt from the relevant protective laws and regulations and therefore free forgeneral use.The publisher, the authors and the editors are safe to assume that the advice and informa-tion in this book are believed to be true and accurate at the date of publication. Neitherthe publisher nor the authors or the editors give a warranty, expressed or implied, withrespect to the material contained herein or for any errors or omissions that may have beenmade. The publisher remains neutral with regard to jurisdictional claims in published mapsand institutional affiliations.

This Palgrave Macmillan imprint is published by the registered company Springer NatureSwitzerland AGThe registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Introduction

The process of globalization was considered as an irreversiblephenomenon till 2019 in the pre-COVID era. The strategic buzzwordsused to be—Go Global and Grow Global. COVID-19 pandemic hasforced the economies around the world to be disintegrated and self-sufficient despite the immense scope of globalization. The decline ineconomic trade and investments during this pandemic period makes de-globalization as an important arena to explore from both developedand developing nations perspective. The impact and outcome of thepandemic-induced de-globalization warrants a systemic investigation fromvaried perspective to understand the implications in new normal. Thisbook is an attempt to bring together twelve perspectives on the topicwhich will holistically provide us an integrated view of the globalization,de-globalization and new paradigms in business and economy in currenttimes.

The first chapter aims to critically review and provide a summaryof the extant literature in de-globalization of businesses over the lasttwo decades. For this review, a systematic literature review methodologywas followed. A new framework called philosophy-attributes-methods-outcomes (PAMO) framework was adopted to review the existing litera-ture from Scopus indexed journals. Several opportunities and avenues forfuture research have been identified to provide philosophical, attributive,method, and outcome-related directions.

v

vi INTRODUCTION

The second chapter is a contemporary study to identify factors influ-encing the de-globalization process during the current pandemic. Thisresearch identifies eight dominant factors responsible for speeding upthe de-globalization process worldwide during COVID-19 using TISM-P approach to look over interplay among the selected factors. It createsa conceptual model to assist policymaking to increase global cooperation.Policymakers are recommended to examine the direction of influence ofdriver factor and formulate strategies accordingly.

The third chapter investigates the impact of the COVID-19 pandemicon Italian firms’ sourcing strategies. By interviewing 212 Italian manu-facturing firms, this study provides new and robust evidence on firms’sourcing behaviour, the main channels through which COVID-19 hasaffected firms’ business and the role of sourcing strategies in adjusting tothe present and future economic consequences of the pandemic. Mostfirms assign an important role to their supply chain in mitigating theadverse consequences of the pandemic do not foresee a change in thesupply strategy in response to the pandemic. Results have policy impli-cations for favouring domestic over foreign sourcing. Domestic supplychains are credited with giving firms an increased protection against supplydisruptions.

Chapter “The Nexus Between Trade Openness and Foreign DirectInvestment Amid Structural Economic Vulnerability in Developing Coun-tries” aims to evaluate the relationship between trade openness andforeign direct investment (FDI), considering the complex effects ofeconomic vulnerability in developing countries, while focussing on non-least developed countries (non-LDCs). Using a panel data of 89 non-LDCs over the period 1990–2018, it is found that trade opennesspositively affects non-LDCs but is particularly insignificant to emergingmarket countries. Developing countries need a policy regime to increaseFDI inflows sustainably, as it is insufficient to focus solely on tradeopenness and trade liberalization schemes.

As organizations refocus on home and regional markets, the need forinternational joint ventures (IJVs) will evolve in the de-globalized world.The fifth chapter attempts to conceptualize the effect of de-globalizationon IJV formation, purpose of IJV, IJV termination and interaction postIJV termination, and thus develops actionable propositions. For policy-makers, the study identifies four distinct aspects of IJVs that is affected by

INTRODUCTION vii

de-globalization, that can be further fastened or slowed down by regu-latory decisions. For practitioners, it suggests managers incorporate thecontemporary theme of de-globalization during decision-making.

Sixth chapter analyses the strategic actions taken by hospitality firmsin view of unprecedented black swan event of COVID-19. Using socialmedia analytics, this study extracts the tweets for a six-month periodin both pre- and post-COVID scenario. These actions are observed incontext of the business model of these firms, and analysed based onconstruct, focus area and sentiment of social media communicationsby the firms having different business models in post event scenarios.Comparative studies suggest that firms with different business modelshave reacted to COVID situation differently which has also reflected intheir social media communications as well.

The airlines of Latin America have faced severe government restric-tions, which have severely disrupted their operations. The seventh chapteranalysed the exact process of de-internationalization adopted by theMexican airline Aeroméxico in dealing with the pandemic using a qualita-tive approach. The main results indicate that the airline has taken actionsin nine specific areas and that the consequences of these actions werenegative, because they reduced the company’s operating capacity, therebyaffecting its income. The results will also help make the learning processof companies more effective and efficient, which will make the compa-nies more stable and less vulnerable to the effects of shocks that triggerunexpected events.

The effects of COVID-19 on the nations and society are forcing themto look within own borders and attain self-sufficiency in all respects.Chapter 8 has implications for research to study measures for betterpreparedness of various countries to future COVID-19 like pandemics,making society self-contained, keeping trade and commerce flow unin-terrupted and ramping up health services at all levels. Proponents ofglobalization and isolation will continue to discuss various businessopportunities available due to globalization or challenges seen by de-globalization. But in the opinion of most economies, globalization is hereto stay, albeit more dependent on the block chain and data science drivers.

Ninth chapter aims to study whether digital marketing can de-globalizethe impact of COVID-19. Using a survey, it captures responses from230 businessmen, young entrepreneurs and employees. Results obtainedfrom this study confirm that COVID-19 has significantly initiated a chainof de-globalization. It also confirms that de-globalization has negatively

viii INTRODUCTION

affected all types of businesses across the globe and concludes that digitalmarketing will stop the de-globalization and support the globalizationprocess. It will also help in growth of the world economy, as businesseswill be able to reach more consumers and vice versa.

Tenth chapter analyses how the process of de-globalization takes place,and its expected impact, showing benefits and disadvantages in the shortand medium term. Some questions are answered regarding main conceptsof globalization and de-globalization, the influence of COVID-19 inglobalization of the economy and politics considering the big nega-tives impacts in health professionals, population and firms. Assessing theimpacts of the de-globalization of the world needs to be considered bygovernments to support the development of companies, with incentivesand research and development activities, to find practical solutions tonational and international commercial activity.

Time has arrived to shift from closed innovation to open innovation.The COVID pandemic has brought many alterations in innovation andsurroundings with OI. The eleventh chapter aims to show how the asso-ciation of university and research can help both organizations and SMEs.There are many advantages of open approaches for innovation such asaccessing complementary assets. Organizations can obtain and employexternal sources of knowledge by following the OI approach. This aidsin accessing and incorporating complementary reserves, experience andabilities; developing new ideas for the development of products; searchingfor ways of using commercially internal knowledge and Intellectual Prop-erty Rights; growing profits and revenues from innovation; and increasingknowledge base and client’s satisfaction.

Digital marketing-based business transformation has been documentedas an important strategy to respond to disruptive environmental changes.During the COVID-19 pandemic, long-lasting changes are occurring,uncovering layers of novel branding and marketing strategies beingadopted by old and new organizations alike. The last and twelfth chapterplunges into notable digital marketing trends and shifts that this pandemichas caused, thread-bearing the reasons, processes and effects on the way.It proposes four digital marketing-based business transformation (DMBT)strategies that firms can adopt to combat the present crises and finallyconcludes that digital marketing is here to stay in the post-pandemic timesand businesses should think of it as a ‘strategy for keeps’.

INTRODUCTION ix

Editor-in Chief, International Journal of Consumer Studies (A Rank-ABDC Australia)

Justin PaulProfessor, University of Puerto Rico System, San Juan, Puerto

Rico

Distinguished Professor, IIM, Kozhikode, Kerala, India

SIBM, Pune, India

Sanjay DhirAssociate Professor and Area Chair of Strategic Management,

Indian Institute of Technology Delhi, New Delhi, Delhi, India

Contents

Deglobalization: Review and Research Future AgendaUsing PAMO Framework 1Harchitwan Kaur Lamba

Developing a Hierarchical Model Among FactorsInfluencing Deglobalization Thinking in COVID-19 Era 21Shamita Garg and Sushil

Global Sourcing in Times of Covid-19 37Marta Bernasconi, Sara Galetti, Valeria Gattai,and Piergiovanna Natale

The Nexus Between Trade Openness and Foreign DirectInvestment Amid Structural Economic Vulnerabilityin Developing Countries 61Chi Quynh Nguyen and Thai-Ha Le

De-globalization and Its Effect on International JointVenture 87Nakul Parameswar

Analysing Covid Adjustments in Hospitality BusinessModels: Insights from Indian Hospitality Sector ThroughSocial Media Analytics 103Saurabh Srivastava

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xii CONTENTS

De-internationalization in the Sky: Aeroméxicoand the COVID-19 Pandemic 117José Satsumi López-Morales

Effects of Covid-19 on De-globalization 133Pooja Chaudhary and Kulwant Kumar Sharma

Digital Marketing as a Tool of De-globalization: A StudyDuring Covid-19 Pandemic 155Ila Sharma, Rahul Dhiman, and Saurabh Jha

Deglobalization in COVID-19 Times: New Routesfor Global Business 173Marián Arias, Renato Carrillo, Romina Gómez,María Alejandra Leiva, Thalía Pineda,María de las Mercedes Anderson-Seminario,and Aldo Alvarez-Risco

Business Beyond COVID-19: Towards Open Innovation 189Asha Thomas

Combating COVID-19 with Digital Marketing: Strategiesfor the Marketer 213Meenu Chopra and Neha Saini

Index 233

Editors and Contributors

About the Editors

Dr. Justin Paul is a full Professor in the Ph.D. & M.B.A. programmes atthe University of Puerto Rico, San Juan, PR, USA and holds a title ‘Dis-tinguished Scholar’ with India’s premier business school IIM (IIM-K).He serves as Editor-in-Chief, International Journal of Consumer Studies(An A ranked global academic journal with over 1400 submissions ayear). He is well known as an author/co-author of best-selling textbooks—Business Environment (4th edition), International Marketing,(2nd edition) Management of Banking & Financial Services (2nd edition)and Export–Import Management (2nd edition) by McGraw-Hill, Pearson& Oxford University Press, respectively. He served as a full-time facultymember with the Rollins College—Florida, University of Washingtonand Nagoya University of Commerce & Business—Japan, accredited byAACSB & AMBA in the past. He has been conferred with an honorarytitle—Distinguished Professor—by Symbiosis University, Pune, India in2020.

Dr. Paul serves/has served as Senior/Guest/Associate Editor withthe International Business Review, Journal of Business Research, ServicesIndustries Journal, European Bus Review, Journal of Retailing &Consumer Services, Small Bus Economics, European Journal of Interna-tional Management, Journal of Promotion Management, Business Ethics:A European Review & International Journal of Emerging Markets. Over

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xiv EDITORS AND CONTRIBUTORS

100,000 copies of his books have been sold and his articles have beendownloaded over 700,000 times, which rank him among the most down-loaded academicians in the field of business and economics. He is anauthor of over 75 articles in SSCI listed journals, out of which 40+ are injournals ranked as A & A star by Australian Business Deans Council.

He has also authored/co-authored two more books, namely Interna-tional Business and Services Marketing. He started his career as Officer—Corporation Bank and moved to academics later. He served as Depart-ment Chairperson at Indian Institute of Management (IIM), the premierbusiness school in South Asia at age 30. He has taught full courses atAarhus University—Denmark, Grenoble Eco le de Management—France,University of Washington Foster School of Business—Seattle, Univer-site De Versailles—France, ISM University—Lithuania, SP Jain—Dubai,Warsaw University—Poland and has been a visiting professor/an invitedspeaker and trainer at Vienna University of Economics and Business,Deakin University—Australia, University of Queensland, University ofChicago, University of Puget Sound, St.Martyn’s University—USA, VSE-University of Prague, Fudan University—Shanghai and UIBE—Beijing.He has conducted corporate training many times for South East AsianBank—Mauritius, Al Omaniya Financial Services—Oman, South IndianBank, Federal Bank and Thomas Cook.

Dr. Justin has been distinguished as ‘Role Model’ by ‘Careers &Campuses’ magazine, as ‘Young Achiever’ by ‘The Hindu’ newspaper andas ‘The Global Professor’ by Mathrubhumi. He has also secured inter-national level awards for Best Research Papers and Case studies, insti-tuted for faculty members by European Case Clearing House, AmericanSociety for Competitiveness, Emerald UK, London School of Business,Association of Indian Management Schools, etc.

He is also known as an Author of 3 Best Selling Case studies pubby Ivey—Canada & distributed by Harvard Business School (1. LV inJapan 2. Ferro Industries—Exporting Challenge 3. L’oserie—Turnaroundchallenges).

Dr. Sanjay Dhir is an Associate Professor and Area Chair of StrategicManagement at the Department of Management Studies, Indian Instituteof Technology Delhi. He is a Fellow (Ph.D.) from the Indian Institute ofManagement (IIM) Lucknow. He worked at corporate sector—Mahindraand Mahindra Ltd (Automotive), R&D Department, Nasik—for threeand a half years. He has published several research papers in leading

EDITORS AND CONTRIBUTORS xv

international journals including case studies at Richard Ivey School ofBusiness, Western Ontario jointly distributed by Ivey and Harvard Busi-ness School, Journal of Business Research, Technological Forecasting andSocial Change, and International Business Review. His research paperswere presented and published as conference proceedings at several pres-tigious academic conferences such as Academy of Management (AoM),Academy of International Business (AIB), Strategic Management Society(SMS), Southern Management Association (SMA), International Simula-tion Conference of India (ISCI, IIT Mumbai) and Strategic ManagementForum (SMF, IIM Lucknow). His research interests include strategicmanagement, joint ventures, innovation management, management ofchange, implementation strategies, and international strategy.

Contributors

Aldo Alvarez-Risco is a Professor in the International Business career atthe Universidad de Lima and has a PhD in Administration by UniversidadAutónoma de Nuevo León, a Doctor diploma in Pharmacy and Biochem-istry, and has a master degree in Pharmacology and Pharmacist by Univer-sidad Nacional Mayor de San Marcos. He is a member of the Academy ofInternational Business (AIB). Also, he is coordinator of Global Logis-tics and Supply Chain Management Research Group, member of theGlobal Business Research Group of the Scientific Research Institute of theUniversidad de Lima, a speaker in events in 22 countries, and an authorof books and articles in international business, sustainability, and healthsystems.

Marián Arias is a Student of International Business in Universidad deLima, Peru.

Marta Bernasconi graduated in Economics in 2018 and completed atwo-year M.Sc. in Global Management at Università degli Studi diMilano-Bicocca in November 2020. She wrote her M.Sc. dissertationon the impact of Covid-19 pandemic on industrial production in theLombard manufacturing sector, under the supervision of Valeria Gattai.Marta Bernasconi is currently research assistant at Università degli Studidi Milano-Bicocca.

Renato Carrillo is a Student of International Business in Universidad deLima, Peru.

xvi EDITORS AND CONTRIBUTORS

Pooja Chaudhary is working as an assistant professor and academiccoordinator in Chitkara Business School of Chitkara University. She looksafter undergraduate programs of the School. She is also a research scholar,pursuing her ‘doctorate studies’ in strategic management field underPanjab University. She is a post graduate in finance and marketing with astrong economics background. Her interests in teaching are in economics,finance, marketing and strategic management, strategic business leaderand financial performance management. Her research interests are mainlyin the field of implementation of strategies for organizations, financialfrauds and sustainable development. She is working towards her doctorateresearch in strategy.

Meenu Chopra is an Assistant Professor in Department of BusinessEconomics and Management Studies, Guru Gobind Singh College ofCommerce, University of Delhi. She completed her Doctorate programas a Full-time Research Scholar from the prestigious Delhi Technolog-ical University (Formerly Delhi College of Engineering) under the DTUFellowship program. She has published various research papers and casestudies with leading international journals. She has also presented andpublished papers with prestigious conferences at national and interna-tional level. Her areas of interest include Strategic Management, Strategicinnovation, Knowledge Management, Organizational Change and Trans-formation.

María de las Mercedes Anderson-Seminario is a Professor of Interna-tional Business in Universidad de Lima, Peru. She is a Candidate toDoctor in Global Business Administration from the Universidad RicardoPalma, and has a Master of Science degree in Agricultural Economics bythe Universidad Agraria La Molina and Economist from the Universidadde Lima. She is also a Member of the Academy of International Business(AIB), a Member of the Global Business Research Group of the Scien-tific Research Institute of the Universidad de Lima, and a collaborativeresearch professor of the economic research group of professors at theUniversidad Agraria La Molina

Dr. Rahul Dhiman received his PhD from National Institute of Tech-nology, Hamirpur (HP), Government of India and Master in BusinessAdministration (MBA) in Finance and Marketing. Presently, he is workingas Assistant Professor in the Department of Business Management, Dr. YSParmar University of Horticulture and Forestry, a state University, Solan

EDITORS AND CONTRIBUTORS xvii

(HP). He has several Scopus and ABDC papers in international journalsof repute published by Inderscience, Emerald, Sage, Taylor and Francisetc. He has presented papers in several international conferences held inIIMs, IITs, NITs and state universities.

Sara Galetti graduated in Economics in 2018 and completed a two-year M.Sc. in Global Management at Università degli Studi di Milano-Bicocca in November 2020. She wrote her M.Sc. dissertation on sourcingstrategies in the Lombard manufacturing sector, under the supervision ofValeria Gattai. Sara Galetti is currently research assistant at Università degliStudi di Milano-Bicocca.

Shamita Garg is a doctoral scholar in the area of strategic manage-ment at the Department of Management Studies at Indian Institute ofTechnology Delhi, India

Valeria Gattai is Associated Professor of Applied Economics at Univer-sità degli Studi di Milano- Bicocca. She holds a Ph.D. from BocconiUniversity (Italy). Her research focuses on internationalization strate-gies and theory of the firm. On these topics, Valeria Gattai published inThe B.E. Journal of Economic Analysis and Policy, International Reviewof Applied Economics, International Review of Economics, Journal ofEconomic Surveys, Economics Letters, The World Economy, Reviewof World Economics/Weltwirtschaftliches Archiv, International Journalof Emerging Markets, Journal of Industrial and Business Economics,Review of Financial Economics, Journal of Chinese Economic and Busi-ness Studies, Journal of International Trade and Economic Development.She is also co-author of the Palgrave Pivot “ODI from BRIC countries.Firm-level Evidence”.

Romina Gómez is a Student of International Business in Universidad deLima, Peru.

Saurabh Jha is working as an Assistant Professor in the School ofEngineering and Technology (Department of Biotechnology) at ShardaUniversity, Greater Noida. He obtained his M.Sc.(Biotechnology)degree from VIT University, Vellore, and Ph.D. Degree in Biotech-nology (Neurobiology) was awarded from Delhi Technological Univer-sity (Formerly Delhi College of Engineering). His areas of interest inStem Cell and expertise include molecular chaperone and ubiquitin E3ligase in neurodegenerative disorders along with therapeutics action of

xviii EDITORS AND CONTRIBUTORS

biomolecules in aged neurons and muscles. He has published 22 papers inpeer-reviewed and high impact factor International Journals such as JNC,JAD, BBA, APCS, GENE & JTM (h-Index 08; i10-index 8; Cumula-tive impact factors 50; Citation Index is 350) and Three books chap-ters in Springer International Publishing AG. He has also got “Com-mendable Research Excellence Award DTU 2018” from Delhi Techno-logical University, Delhi. Recently, Dr. Jha has received “Best Stem CellResearcher Award 2019” by Prof. (Dr). Michele Zocchi, University ofTurin, Italy. He has also presented more than 17 papers in internationalsymposium and proceedings. Further, He has also designed and intro-duced the two new courses at level of B.Tech/M.Sc./PGD in “StemCell Technology and Regenerative Medicine” & “Genetic Engineering”at Sharda University. Dr. Jha has an excellent track record in Teaching,Research and Placement in term of B.Tech and M.Tech Biotechnologyat Sharda University. Until now, he has currently guided 03 Ph.D., 02M.Tech, 02 M.Sc. and more than 10 BS students. He has also servedvarious committee Members of the Department of Biotechnology as wellas the University level. He is the life and regular member of variousprofessional societies across the globe.

Harchitwan Kaur Lamba is a doctoral scholar in the area of strategicmanagement at the Department of Management Studies at Indian Insti-tute of Technology Delhi, India. She holds undergraduate and post grad-uate degrees in Commerce from University of Delhi and Panjab Univer-sity, respectively. She has varied work experience teaching at undergrad-uate colleges in University of Delhi, and corporate experience workingwith small and medium business clients for AdWords at Google India.Her areas of interest include sharing economy and strategic alliances.

Thai-Ha Le is the Director of Research and Senior Faculty Member atFulbright University Vietnam.

María Alejandra Leiva is a Student of International Business in Univer-sidad de Lima, Peru.

José Satsumi López-Morales holds a PhD in Administrative Sciencesfrom Universidad Cristobal Colon in México and a MBA from Univer-sidad de Palermo in Buenos Aires, Argentina. He is a member of theNational System of Researchers (Level 1) supported by CONACYT inMexico. He is a full-time professor and academic coordinator of MBA atthe Tecnologico Nacional de México/Instituto Tecnológico de Veracruz,

EDITORS AND CONTRIBUTORS xix

also have teached in Universidad Veracruzana, Universidad CristobalColón and Universidad de Monterrey, all in in Mexico. In 2021 was nomi-nated as Track Chair of “Global and Regional Supply Chain” of Academyof International Business chapter Latin America (AIB-LAC).

Piergiovanna Natale Full Professor of Economics at Università degliStudi di Milano-Bicocca. She holds a Ph.D. from the University of Exeter(U.K.). Her research focuses on institutional design and theory of thefirm. On these topics, she published in The European Journal of PoliticalEconomy, Journal of Policy Modelling, IfoStudien, Economics and Poli-tics, The Manchester School, The Scottish Journal of Political Economy,Journal of Economic Surveys, Economics Letters, International Journal ofEmerging Markets, Review of Financial Economics. She is also co-authorof the Palgrave Pivot “ODI from BRIC countries. Firm-level Evidence”.

Chi Quynh Nguyen is associated with Fulbright University Vietnam.

Nakul Parameswar is an Assistant Professor in the department ofentrepreneurship and management at the Indian Institute of TechnologyHyderabad. He holds a doctorate from the Indian Institute of Tech-nology Delhi. His research interests include dynamics in strategic alliances,competitive strategy and start-up management.

Thalía Pineda is a Student of International Business in Universidad deLima, Peru.

Neha Saini has completed her PhD in the area of Finance and Inter-national Business from Faculty of Management Studies, University ofDelhi. She has done her graduation from Keshav Mahavidyalaya andpost-graduation from RDIAS (GGSIPU). With the rich corporate andacademic experience, she has participated in various national and interna-tional paper presentations, including IIMs, IISc, IBS-Hyderabad, DelhiSchool of Economics, Department of Commerce (DU) etc., includingsome best paper awards as well. Besides this, her publication list includesthe leading journals in the area of finance, international business andsustainability.

Kulwant Kumar Sharma is a professor and dean, at Chitkara University,Punjab. His teaching interests include OB & HR, learning and develop-ment, global & virtual team management, strategic management, peda-gogy, UN sustainable development, human values and human rights.

xx EDITORS AND CONTRIBUTORS

His research interests include peace operations, human rights, sustain-able development as a global agenda, political economy and humanitariandisaster management. He has headed a number of educational institutesand has worked with UN components of peace operations, refugee agencyand office of human rights.

Dr. Ila Sharma is a reputed name in the list of Pune scientist club inthe field of Life Science Research. She completed PhD from FergussonCollege, Pune and Masters in Biotechnology from Rajasthan Univer-sity. Currently, she is an independent researcher. Before this, Dr Ilaworked as a Professor of Pharmaceutical Marketing courses in DY PatilBusiness School, Pune. She is an example of beauty with a brain. Shehas dynamic and versatile in her personal and professional life. She isgood at developing and executing instructional materials, guiding andmentoring research scholars, supervising student performance, supportingand managing teaching staff, taking part in departmental or collegeevents, training the students for academics and non-academics projects.She is also invited as a keynote speaker in various management institutes.She is also the author of the Management and Biotech book. Dr Ila servedas a consultant and advisor in various reputed groups like CEGR andIntegrated Chambers of Commerce and Industry, New Delhi. Her idea isdreams should be trusted and continuously followed until one managesto achieve them.

Saurabh Srivastava is a Doctoral Scholar in Strategic Management atDepartment of Management Studies, Indian Institute of TechnologyDelhi, India. He has completed his Post Graduate Diploma in Manage-ment from IIM Ahmedabad, India and has completed his undergraduatestudies in Mechanical Engineering from IIT Kanpur, India. He has 14years of progressive work experience across corporate strategy & planning,financial management and cost controllership functions across industriesand is currently heading digital strategy initiatives at one of the leadingITES organisation. His interests lie in working towards bridging the gapbetween academia and business practices in management domain.

Sushil is a Professor in the area of strategic management at the Depart-ment of Management Studies at Indian Institute of Technology Delhi,India.

EDITORS AND CONTRIBUTORS xxi

Asha Thomas is Assistant Professor at Jagan Institute of ManagementStudies (JIMS), New Delhi. Her areas of research interest include knowl-edge management, organizational behaviour and marketing. She hasabout 12 years of experience in teaching, as well as over 3 years of expe-rience in IT and Telecom Industry. She is currently pursuing doctorateprogram as a part-time Research Scholar from the prestigious Delhi Tech-nological University. She has several national and international researchpapers to her credit. She has also presented papers in National andInternational Conferences. She also serves as reviewer for several topinternational journals.

List of Figures

Deglobalization: Review and Research Future AgendaUsing PAMO Framework

Fig. 1 Trade Openness Index 1870–2017 2Fig. 2 The number of articles published in the area

of deglobalization over time 6

Developing a Hierarchical Model Among FactorsInfluencing Deglobalization Thinking in COVID-19 Era

Fig. 1 Diagraph portraying interaction among the identified factors 27Fig. 2 TISM-P based diagram exhibiting how COVID-19 is

influencing deglobalization process 29

Global Sourcing in Times of Covid-19

Fig. 1 Sampled firms’ sourcing strategy (Source Authors’ database) 45Fig. 2 Inputs relevance by type (Source Authors’ database) 47Fig. 3 Impact of the Covid-19 pandemic on business by sourcing

strategy (Source Authors’ database) 48Fig. 4 Impact of the Covid-19 pandemic on business by input type

(Source Authors’ database) 49Fig. 5 Impact of the Covid-19 pandemic on business by direct

and indirect channels and sourcing strategy (Source Authors’database) 51

xxiii

xxiv LIST OF FIGURES

Fig. 6 Impact of the Covid-19 pandemic on business by directand indirect channels and input type (Source Authors’database) 52

Fig. 7 The importance of the supply chain in dealingwith the Covid-19 pandemic by sourcing strategy (SourceAuthors’ database) 54

Fig. 8 The importance of the supply chain in dealingwith the Covid-19 pandemic by input type (Source Authors’database) 55

Fig. 9 Sourcing strategy switch in response to the Covid-19pandemic (Source Authors’ database) 56

The Nexus Between Trade Openness and Foreign DirectInvestment Amid Structural Economic Vulnerability inDeveloping Countries

Fig. 1 FDI inflows (US$ million) and trade openness (%) trendsby region (Source UNCTAD, 2020) 62

Fig. 2 Economic vulnerability measurement in the frameworkof FERDI (Source FERDI [Feindouno & Goujon, 2016]) 66

De-internationalization in the Sky: Aeroméxico and theCOVID-19 Pandemic

Fig. 1 De-internationalization actions carried out by Aeroméxico.Note The data are drawn from Aeroméxico (2020d),Americaeconomia (2020), Businesstriper (2020), Expansion(2020a), Expreso (2020), Garrow and Lurkin (2021),Milenio (2021), and Resultados del 3T20 (2021) 123

Effects of Covid-19 on De-globalization

Fig. 1 Business leaders’ perception on globalized world (2020)(Source: World Economic Forum Executive Opinion Survey2008–2020 series [WEF 2020]) 144

Deglobalization in COVID-19 Times: New Routes forGlobal Business

Fig. 1 Mortality rate of the main virus outbreaks worldwidein the last 50 years (From “Death rate of major virusoutbreaks worldwide in the last 50 years starting in 2020”,by Statista [2020]) 182

LIST OF FIGURES xxv

Fig. 2 Number of coronavirus (COVID-19) cases worldwideas of April 21, 2020, by country (From “Numberof coronavirus [COVID-19] cases worldwide as of April 21,2020, by country”, by Statista [2020]) 182

Business Beyond COVID-19: Towards Open Innovation

Fig. 1 Word cloud 193Fig. 2 Conceptual model 203

Combating COVID-19 with Digital Marketing: Strategiesfor the Marketer

Fig. 1 DMBT thematic map 218

List of Tables

Deglobalization: Review and Research Future AgendaUsing PAMO Framework

Table 1 Bibliograghic sources of deglobalization in the literature 5Table 2 Theories widely discussed in the articles reviewed 7Table 3 Distribution of the widely used theories used in the articles

reviewed 8Table 4 Most common host countries in the articles reviewed 9Table 5 Industries analysed in the articles reviewed 10Table 6 Methods used in the literature 12Table 7 Distribution of methods used in the literature 13

Developing a Hierarchical Model Among FactorsInfluencing Deglobalization Thinking in COVID-19 Era

Table 1 Reachability matrix (with polarity) 27Table 2 Reachability matrix (without polarity) 27Table 3 List of determinant and their levels in TISM 28

Global Sourcing in Times of Covid-19

Table 1 Population and sampled firms by location, manufacturingactivity and firm size 44

xxvii

xxviii LIST OF TABLES

The Nexus Between Trade Openness and Foreign DirectInvestment Amid Structural Economic Vulnerability inDeveloping Countries

Table 1 Effect of Trade openness on FDI/GDP in terms of EVI 72Table 2 Dynamic effects on FDI, estimator: D-GMM & S-GMM 75Table 3 Effects of openness on FDI/GDP with interaction

variables: System GMM 77Table 4 Definition of variables 80Table 5 Descriptive statistics 82Table 6 List of countries in the study sample 83

De-globalization and Its Effect on International JointVenture

Table 1 Snapshot on the Evolution of Purpose of IJVfrom Globalized to De-globalized world 91

Analysing Covid Adjustments in Hospitality BusinessModels: Insights from Indian Hospitality Sector ThroughSocial Media Analytics

Table 1 List of firms selected for this study 107Table 2 Summary view of Tweets in the pre- and post-Covid

scenarios 107Table 3 Firm wise Tweets descriptive analysis based on media used

in Tweets 109Table 4 Keywords and their associated words in the pre-

and post-Covid first wave scenarios 110Table 5 Sentiment analysis of Tweets by various firms 113

De-internationalization in the Sky: Aeroméxico and theCOVID-19 Pandemic

Table 1 Aeroméxico’s de-internationalization policies accordingto the literature 124

Digital Marketing as a Tool of De-globalization: A StudyDuring Covid-19 Pandemic

Table 1 Descriptive statistics 164Table 2 Reliability of instrument 165

LIST OF TABLES xxix

Table 3 Respondents’ view on de-globalization and digitalmarketing 166

Business Beyond COVID-19: Towards Open Innovation

Table 1 List of journals 192Table 2 Definitions 193Table 3 Companies’ response to COVID-19 195Table 4 A summary of empirical studies 203

Combating COVID-19 with Digital Marketing: Strategiesfor the Marketer

Table 1 Digital marketing-based business transformation strategies 221