Economic Lessons Learned from Covid-19 Pandemic

POL 309 Major Research
Paper Questions

Introduction
The impact of Covid-19 has been found to be severe on global economy, where there are
various aspects to be evolved on economic lessons which keenly can be understood as essential.
Essay will present detailed analysis on various economic lessons learned from impact of Covid-
19, which has come up as one of the biggest global pandemic.
“What economic lessons have we learned from impact of Covid-19” the statement holds
huge importance in recent time as economy is recovering from the phase of coronavirus
pandemic impact. The analysis of all economic lessons learnt, has been found to be crucial and
highly essential for creating business engagement significantly across sectors. Covid-19
pandemic has triggered high scale economic recession in businesses around world, where
economy has been seeing threatening and functional significant impact on economic activities.
The economy has been witnessing downfall, as well jobs have been hurt among people, which
evolves importance on lessons for the coming decade in future needs to be structurally analysed.
Major economies around world are facing losses with at least 2.9 percent of the GDP over 2020
year, where forecasts have already restated GDP loss of 4.5 percent. Globally economic impact
has been significantly increasing as there are varied parameters, within economic outputs.
Extraordinary policies' formation, in economy has been found to be one of the major aspect
where tightrope towards recovery of social prospects further has been found to be structurally
crucial (Loot and et.al, 2021).
The economy has been severely hit, by the phase of coronavirus where economy losses
around world has been found to be structurally hit within all business aspects significantly.
Research also shows that COVID- pandemic has been significantly triggering major decisions by
economic leaders around world, where stability and consistency have been found to be at risk. It
has been also found that economic losses, social prospects evolving in recent decade further has
been found to be crucial. One of the main lesson learnt, is economic flexibility where business
decisions have to be instantly formed for connecting towards new paradigms of stable growth.
Furthermore, Covid-19 pandemic shaped economic and social prospects, on which shut down
has impacted economic levels among people variedly (Meijer and et.al, 2021).
Lessons learnt from impact of pandemic Covid-19

Most companies had to make flexible and quick decisions of work from home for
employee’s safety, where remote working programs have been significantly growing. Software
companies and those selling digital goods to assess, have been found to be crucially expanding
new parameters for re-establishing performance targets. The need to assure revenue growth, and
accession of varied strengths and weaknesses, have been found to be highly crucial for
recovering from economic crisis. On the other hand, change procedures and creation of new
procedures fast has been found to be critically essential for attending new competencies. The
lesson learnt, on business policies upfront, and developing advanced working strategies have
been found to be highly potent as it has been stringently impacting company’s functional
strength. Focusing on top priorities, where employers and customer’s safety has been found to be
highly essential for companies to evolve on proper sanitation guidelines. Shifting to digital
platforms, and further correlating to specific working needs for generating strengthened specific
focus paradigms plays crucial role (Villegas and et.al, 2021). Usage of acquiring laptops,
webcams and headphones have been found to be highly essential where good videoconferencing
shifting further enhanced working productivity diversely.
Economy showed remarkable ability to adapt new changing nature within digital
economic activities, where shutdowns and social distancing has been found to be also crucially
essential. Trend towards remote work from home has been undergone as major essential aspect,
on which using creative flexible working procedures have evolved dynamically. Arguments
within the recent aspects evolved, further enhances new scale decisions to further develop critical
growth rise dynamically (Morgan, Awafo and Quartey, 2021). The priority and one of the main
critical aspect, is to shape business day by day and to further assess new practical digital plans
significantly on wider working horizons towards critical pathways. The economy has been
further revamping critically towards new priorities, and specific focus towards usage of
productive resources for more revenue potential standards.
The next important lesson is reinventing yourself, by being creative in various ways and
strategic pathways for adopting towards optimistic work opportunities for strengthening
functional new opportunities. Pandemic impact on economic parameters has been found to be
also diverse, where reinventing entire businesses has been found to be one of the key aspect.
Also addressing specific business needs, providing digital platforms for faster transactions and
new strengthened working vision enhances scope for companies to further enhance their