A preliminary study on exploring the critical success factors for developing COVID-19 preventive strategy with an economy centric approach

Purpose: In the wake of COVID-19, most of the countries at present, are in a dilemma whether to extend lockdown at the cost of economy or to improve the hard-hit economy by lifting the lockdown. It is indicated by the reputed organizations and medical fraternity that corona will stay here for a longer period contrary to the earlier assumptions. Hence the purpose of this study is to suggest a strategy which balances both preventive measures and economic losses to control the pandemic. Design/methodology/approach: There is a need for the identification of the critical success factors (CSFs) for developing COVID-19 preventive strategies to control the pandemic with an economy-centric approach. Findings: The six CSFs identified are “Effective communication”, “Social distancing”, “Adopting new technology”, “Modify the rules and regulation at workplace”, “Sealing the borders of the territory” and “Strong leadership and government control”. Research limitations/implications: The study has a vital contribution to literature as no previous study has identified CSFs for developing COVID-19 preventive strategies while focusing on the economy. Practical implications: Further, these identified CSFs are helpful in medium and longer-term planning which is required to rebalance and re-energize the economy following this epidemic crisis. Originality/value: The study has given a model that depicts the cause and influence relationship between the key factors in the system under question. The importance of study increases many fold, as resources are limited and the outcome of the study could be used to channelize the resources effectively.