The study investigated the impact of the COVID-19 pandemic on two levels: countries and industries. It is a type of systematic risk. The study discovered evidence of a significant change in business strategy for January 2021 by using three indicators of the Covid-19 epidemic, including indicators of injury, death, and social distancing in workplaces for 2020, in addition to 400 managers' answers from ten countries (Egypt, Germany, France, India, Saudi Arabia, Indonesia, Mexico, Russia, South Korea, and Nigeria). The impact of the Covid-19 epidemic on changing business strategies was 7.55%. On the other hand, the "Pharmaceutical Industry" and "Telecommunication Industry" have the most opportunities for growth, while the "Aerospace Industry" and "Education Industry" have the most threats to growth under the COVID-19 pandemic. Finally, the study can back that to restrictions social distancing; the change in customers' behavior; and finally, the change in assessing strategic position together with the high uncertainty about the future path of the pandemic.