Future research might learn from these experiences and attempt to provide extra formal definitions of these new types of uncertainty (e.g., social and informational) and incorporate these within a more complete conceptual framework of uncertainty in international business context. The Covid-19 crisis additionally highlights the significance of different forms of uncertainty that have hitherto been overlooked in international business research, corresponding to social and informational uncertainty that may doubtless have inevitable economic repercussions. For example, the success of social distancing and other restrictions is decided by the extent to which the society as a whole accepts and abides by these guidelines that problem their regular way of living. This social uncertainty and public unrest from being lockdown for months may result in a huge pent-up demand for merchandise missed by them. This in flip could result in a ‘bull-whip’ effect, which could cripple the global provide chains because of extensive variations between the demand estimates and supply (Lee, Padmanabhan, & Whang, 1997). The present Covid-19 case is a good instance of how this distinction performs out in reality.
We are continuing our successful collaboration on attracting extra private sector capital to finance India’s infrastructure needs, which can support development in …
