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Exploration and Exploitation of Nascent Local Business Opportunities during the Global Disruption: Strategic Actions of Subsidiaries of Large Multinational IT Corporations in Russia in the period of the COVID-19 Pandemic
This paper discusses the strategic actions taken by the Russian subsidiaries of two large multinational information technology (IT) corporations during the COVID-19 pandemic. These companies faced explosive growth in local demand for hardware and IT solutions due to the increased digitalization of business and greater emphasis on remote working during the lockdown. The management of the Russian subsidiaries demonstrated great ingenuity in redesigning business processes and acquiring additional resources to satisfy the growing demand. As a result, the performance of the Russian subsidiaries radically improved during 2020; however, some of the implemented strategic actions were not welcomed by the corporate headquarters as they required amendment of the existing subsidiary mandates.