The outbreak of a recent strain of Coronavirus, known as ‘COVID-19’, has spread sharply from China across the globe, resulting in a dramatic recession in the global economy. This uncertainty has therefore negatively influenced the business perspective and the various formulated strategies that may not considered such [extreme] circumstances. Using baseline analysis and archival data, this paper reports some of the major implications of COVID-19 on global business and strategy and puts forward suggested research agenda as potential future directions for organizations. In order to survive and remain sustainable, this paper argues that businesses need to revisit their strategies during current COVID-19 crises from three perspectives, including supporting human resources financial commitment, forming crossfunctional teams and connecting with their supply chains, as well as investing in corporate social responsibility and doubling down efforts with regard to partnerships. The study also represents a preliminary analysis to the implications of COVID-19 on the business and strategies across the globe and is considered the first such in the field of business, as to date all research papers on COVID-19 have been published in medical-related journals. Directions for future research are also proposed at the end of this study.

Abstract
1. Introduction
2. History and WHO Chain of Events ofCoronavirus (COVID-19)
3. Impact of Coronavirus (COVID-19) on theGlobal Economy
    3.1. COVID-19 Impact on Global Unemploymentand Underemployment
    3.2. COVID-19 Impact on Labour Income andWorking Poverty
    3.3. COVID-19 Impact on Global World Stocks
    3.4. COVID-19 Impact on Global Oil Prices andEconomic Growth (GDP)
4. Methodology
5. Discussion and Implications
    5.1. Human Resources Financial Commitment
    5.2. Set-up a Cross-Functional Team and StabilizeSupply Chain
    5.3. Social Responsibility and Double DownPartnership
6. Conclusion
7. Recommendations
References

• Jarrah F. AL-MANSOUR(AOU Business School, Faculty of Business Studies, Arab Open University) Corresponding Author
• Sanad A. AL-AJMI(Department of Development, Public Authority for Industry)