What is at stake in a war? A prospective evaluation of the Ukraine and Russia conflict for business and society

Lim, Weng Marc and Markson Chin, Wee Chien and Ee, Yaw Seng and Fung, Chorng Yuan and Carolina Sandra, Giang and Heng, Kiat Sing and Melinda Kong, Lian Fah and Agnes Lim, Siang Siew and Bibiana Lim, Chiu Yiong and Rodney Lim, Thiam Hock and Lim, Tze Yin and Ling, Chui Ching and Symeon, Mandrinos and Stanley, Nwobodo and Cynthia Phang, Su Chen and Long, She and Sim, Chia Hua and Su, Sueh Ing and Gabriel Wee, Wei En and Marc Arul, Weissmann (2022) What is at stake in a war? A prospective evaluation of the Ukraine and Russia conflict for business and society. Global Business and Organizational Excellence, 41 (6). pp. 23-36. ISSN 1932-2054

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Abstract

War produces devastating impacts on humankind, especially in terms of lives and livelihoods. While war is a widely studied topic in history, it remains relatively understudied in business. To address this gap, this article explores the impact of war for business and society. To do so, this article undertakes a prospective evaluation of the Ukraine and Russia conflict as a recent case of war. In doing so, this article reveals that a war can impact society within (e.g., limit access to basic necessities and monetary resources, increase unemployment and reduce purchasing power, and increase asylum seekers and refugees) and outside (e.g., supply shortage and inflation and threat of false information) as well as business within(e.g., threat of cyberattacks, threat to digital and sustainable growth, and short-term and long-term sanctions and support) and outside (e.g., test of business ethics and moral obligations and test of brand management) war-torn countries. The article concludes with an agenda for future research involving war, business, and society.

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