In 2020, the global pandemic compelled all sectors of the world economy to overhaul their existing business processes, explore novel approaches to labor organization, and devise new employee motivation strategies. Most economic entities had to transition rapidly to remote or "online" work modes. This shift notably impacted leading steel market players, who also faced the challenge of navigating a steep drop in industry product prices. For many steel producers, their response was largely uncoordinated and reactive, failing to effectively address the difficulties encountered. Conversely, several major corporations successfully adapted to the changing environment by leveraging well-established organizational strategies, which helped them avoid significant downturns. Overall, this experience has provided valuable insights into agile corporate management amid business restructuring needs. As lockdowns continue to recur globally, the ability to operate effectively under such conditions becomes critical for minimizing losses and highlights the importance of studying the organizational behavior of steel market participants during a pandemic.
