FAMILY FIRMS: COVID-19 CHALLENGES AND FUTURE OUTLOOK

The COVID-19 pandemic endangered the survival of many firms and emphasized need to reevaluate corporate strategy. This paper studies impact on family businesses how it changed their strategy, priorities, outlook. We use data from PricewaterhouseCoopers (PwC) Family Business Survey 2021 that covers 2,801 in 87 countries. Our study highlights some challenges faced during for an updated blueprint ensure long-lasting success. survey draws attention financial resilience unique advantages terms reputation trust. However, also underscores adopt a more focused environment, social governance (ESG) agenda, invest technological transformation. analyzes congruity between academic research CEO responses forms bridge literature real-world surveys CEOs conducted by PwC.