What is at stake in a war? A prospective evaluation of the Ukraine and Russia conflict for business and society
Weng Marc Lim, Markson Wee Chien Chin, Yaw Seng Ee, Chorng Yuan Fung, Carolina Sandra Giang, Kiat Sing Heng, Melinda Kong, Agnes Siang Siew Lim, Bibiana Chiu Yiong Lim, Rodney Thiam Hock Lim, Tze‐Yin Lim, Chui Ching Ling, Symeon Mandrinos, Stanley Nwobodo, Cynthia Su Chen Phang, Long She, Chia Hua Sim, Sueh Ing Su, Gabriel Wei En Wee, Marc Arul Weissmann
Abstract
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.