Research Objectives: The study examines the adaptability and response of corporations during the COVID-19 pandemic, specifically focusing on firms in South East Nigeria. Hence, it assesses the effect of individual corporate adaptability on the social response of firms, determines the effect of individual corporate characteristics on the performance of firms during COVID-19, and investigates the effect of firm-level corporate adaptability on the turnover of firms operating in South East Nigeria during COVID-19.
Methodology: Data were collected through both primary and secondary sources, employing Pearson Correlation analysis to test the hypotheses and assess relationships between variables.
Findings:
Individual corporate adaptability had a significant effect on the social response of firms in South East Nigeria during the pandemic. This indicates that companies that were more adaptable responded better to the social challenges posed by COVID-19.
Individual corporate characteristics were found to significantly influence the performance of firms in the region. Adaptable firms with distinct characteristics performed better during the crisis.
Firm-level corporate adaptability had a significant effect on the turnover of firms, suggesting that those with greater adaptability managed to sustain or improve their financial outcomes despite the economic disruption caused by COVID-19.
Recommendations: Firms should implement proactive strategies in anticipation of disruptive events like COVID-19. This involves creating contingency plans and adaptable frameworks that allow for quick and effective responses to crises. Furthermore, corporate adaptability should be emphasized at both individual and firm levels, ensuring that organizations are equipped to handle sudden changes in the business environment.