COVID-19 impacts on business : case study of three men’s cosmetics companies based on revenue streams and financial performance measures
Juntunen, Juha (2021)
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021102618915
https://urn.fi/URN:NBN:fi:amk-2021102618915
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This study focuses on evaluating the COVID-19 impacts to the men’s cosmetics industry by means of a case study of three companies. The study was conducted to discover how the pandemic impacted the selected case companies and possibly the men’s cosmetics industry in general.
2020 was different in so many ways for all of us. The COVID-19 pandemic shocked the world and impacted billions of people. The pandemic had an immediate impact to different industries all around the world. Some industries were paralysed or put to a halt, and other prospered due to the new normal. This study targets to present the COVID-19 impacts to the case study companies from March 2020 to March 2021. The objective was to discover how the companies performed during the pandemic and what kind of consequences COVID-19 has left to the men’s cosmetics industry.
This study utilises balanced scorecard as a foundation to evaluate the COVID- 19 impacts from four perspectives. The case study companies are thereby researched from internal, innovation and learning, customer and financial perspectives. Internal perspective focuses on supply chains, Innovation and learning perspective utilises marketing mix, customer perspective looks into distribution channels, and financial perspective is based on financial performance measures (financial ratios). Moreover, the objective with each perspective is to discover what kind of impact COVID-19 has possibly had to the companies’ revenue streams and financial performance. As a result, COVID-19 impact balanced scorecard was made for each company to highlight how the pandemic impacted them from the four different perspectives.
The main findings of this study show how COVID-19 has impacted the case study companies and what kind of general impacts the pandemic has produced to men’s cosmetics industry for the future.
2020 was different in so many ways for all of us. The COVID-19 pandemic shocked the world and impacted billions of people. The pandemic had an immediate impact to different industries all around the world. Some industries were paralysed or put to a halt, and other prospered due to the new normal. This study targets to present the COVID-19 impacts to the case study companies from March 2020 to March 2021. The objective was to discover how the companies performed during the pandemic and what kind of consequences COVID-19 has left to the men’s cosmetics industry.
This study utilises balanced scorecard as a foundation to evaluate the COVID- 19 impacts from four perspectives. The case study companies are thereby researched from internal, innovation and learning, customer and financial perspectives. Internal perspective focuses on supply chains, Innovation and learning perspective utilises marketing mix, customer perspective looks into distribution channels, and financial perspective is based on financial performance measures (financial ratios). Moreover, the objective with each perspective is to discover what kind of impact COVID-19 has possibly had to the companies’ revenue streams and financial performance. As a result, COVID-19 impact balanced scorecard was made for each company to highlight how the pandemic impacted them from the four different perspectives.
The main findings of this study show how COVID-19 has impacted the case study companies and what kind of general impacts the pandemic has produced to men’s cosmetics industry for the future.