The influence during COVID-19 on strategy formulation for sustained competitive advantage of selected health care companies in Durban

Abstract

This research sought to explore the influence of the COVID-19 pandemic on strategy formulation for sustained competitive advantage of selected healthcare companies in Durban, South Africa. The study aims to understand the impact of COVID-19 on the healthcare industry, the factors influencing strategy formulation, and the strategies adopted to gain a competitive edge. The objectives of the study were: to determine the influence during the COVID-19 pandemic on the performance of the health care products industry; to explore the factors that influenced strategy formulation for sustained competitive advantage of selected healthcare products companies; to examine the strategies formulated by the health care products industry to gain a competitive advantage since the emergence of COVID; and lastly, to make recommendations to the senior management of selected companies in the health care products industry on effective strategies for gaining competitive advantage in the post-COVID-19 pandemic in South Africa. The research employed a mixed-methods methodology, concurrently using quantitative and qualitative research instruments for data collection. The target population comprised both managerial and non-managerial employees from six registered healthcare product companies dealing with medical equipment, protective clothing, and medical consumables. The companies that were included in the study were Renttech, ATB Supplies, Kendon, Zeta Lab and Clatten Supplies. Data collection involved structured interviews and questionnaires, which were analysed using both statistical and thematic approaches. The research findings illustrated that all the objectives of the study were met, revealing a multifaceted impact of COVID-19 on healthcare companies in Durban, emphasising the variability in company performance, financial outcomes, and operational disruptions. The research results demonstrated the achievement of all the study’s goals, revealing a complex impact of COVID-19 on healthcare firms in Durban. This underscores the diversity in company performance, financial results, and operational disruptions. The study’s recommendations include the exploration of the effectiveness of strategies for competitive advantage, conducting longitudinal research, fostering global collaborations, advocating digital technology adoption, investing in employee training, and promoting policy frameworks that incentivise digital healthcare transformation. The research encourages collaboration within the healthcare sector and emphasises the importance of a regulatory environment conducive to innovation and sustainability.