Analysis of the Business Economic Reality in Pasto amidst the COVID-19 Pandemic

Abstract

The article aims to present and analyze some results obtained in the academic research "Business Economic Situation Due to the COVID-19 Pandemic," whose general objective was to analyze the economic situation of the business sector in Pasto in the face of the crisis triggered by the COVID-19 pandemic. Its primary focus was identifying business responses to this situation and proposing management strategies. The study began by creating a detailed profile of the companies, which addressed aspects such as their activities, funding sources, size, and legal structure. The methodology adopted was quantitative, descriptive, and cross-sectional, using the survey as the main data collection instrument. This survey was directed at company executives in Pasto, allowing an analysis of the general situation of small and medium-sized enterprises in the city. The outcomes obtained enabled an assessment of the business dynamics in the region, revealing the tactics employed by Pasto enterprises to mitigate the economic repercussions resulting from the pandemic. Based on these results, business management strategies were proposed to ensure the viability and adaptability of organizations in the current context. It is essential to highlight that the implementation of effective business management practices plays a fundamental role in the preservation and progress of companies in the face of challenges such as the COVID-19 pandemic. The study provides a detailed overview of the economic situation of companies in Pasto during the Pandemic, as well as the strategies they adopted to face it. This analysis provides business management recommendations that aim to enhance organizations' resilience and adaptability to both current and future economic challenges.