Impact of Covid-19 on Retail Industry

RESEARCH PROJECT

EXECUTIVE SUMMARY.
The report has been discussed the impact of covid-19 on the retail industry, it has been
discussed that due to lock down the retail industry have faced a lot of issues in the market. The
report highlighted the impacts with the advantages and disadvantages of the lock down on the
retail industry. Report concludes that lock down impacted the entire country and it has also
impacted on the working of people. It created a tough situation which also impacted in the
process of performance of business. It is important for the organization to provide work from
homes to those employees whose work can be done at home, and they also need to include the
online shopping in such situation to increase the performance. Maintaining the budget is
necessary as it also creates a balance in the working. The organization need the worker at
workplace then they need to provide the working safety to the employees.

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
Aim and Objectives..........................................................................................................................5
Literature Review.............................................................................................................................5
Theme 1 The impact of lock down due to COVID-19 in retail industry.....................................5
Theme 2 The advantage and disadvantage of COVID-19...........................................................6
Theme 3 Corporate governance and strategic changes................................................................8
Theme 4 Retail industry strategies in dealing with COVID-19 situation....................................9
RESEARCH METHODOLOGY...................................................................................................10
Discussion of sources of data collection....................................................................................10
Critical Review of the results of research..................................................................................16
CONCLUSION & RECOMMENDATIONS................................................................................19
REFERENCES..............................................................................................................................23
APPENDIX....................................................................................................................................26

INTRODUCTION
Research Questions:
 What is the impact of Covid-19 on the retail industry?
 Explain the advantages and disadvantages of Covid-19 crisis on operations of House of
CB?
 What is the current corporate governance strategy of House of CB and what strategic
changes are needed?
 What recommendations can be proposed to implement changes in company strategies of
House of CB to deal with the crisis?
Background:
The current situation of the market is very bad and the covid-19 have hit hard on the market all
over the world. It is affecting the retail sector in huge ways by the lock down which happened in
the world due to COVID-19. It is very impact full in the market and have impacted the loss in the
retail industry as the organization were not able to work due to lock downs and faced a huge loss
in the market. House of CB is working in the retail sector, and they are the fashion retailer for
women, it is one of the most talented retailer product which are offered by the owner.. The
company is presently closed but has been actively attractive in online store promotions. In order
to deal with the dynamic situation and government policies, current corporate governance and
management strategies of House of CB need to be changed in order to deal with the crisis.
Rationale: The reason of selection to this topic is very important because it affected the whole
world with huge losses and it also makes a lot of impact in overall business and market strength.
It is very important for the House of CB to understand the criticality of the covid-19 situation,
and they need to understand the process of working in the pandemic situation. They need to find
the ways to improve the situation and improve the profitability of the organization with working
in the pandemic. The retail industry has impacted due to the lock down and it also affected the
working and the salary of the people who are working in the different department of industry.
Significance: The study will help the management to understand the working and the process of
the retail sector and how they can utilize the pandemic situation in improvement in work. It is
very important for the retail industry and the people who are working in the retail industry.
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Significance explains the importance of the report and research and the ways in which the
research can be helpful.
Aim and Objectives
Aim: To critically analyse the impact of Covid-19 pandemic on House of CB, UK and the need
for change in corporate strategy to deal with the situation.
Objectives:
 To understand the impact of lock down due to Covid-19 on the retail industry
 To analyse advantages and disadvantages of Covid-19 for House of CB
 To understand the concept of corporate governance and strategic changes
 To devise changes in company strategy of House of CB in dealing with Covid-19
Literature Review
Theme 1 The impact of lock down due to COVID-19 in retail industry
As per the Harapan and et.al., (2020), Corporate governance refer to the laws and policies
made by the government on which the business are being operated. It also affects the internal and
external effect on the company's stakeholders and management. Crisis management is the
process of identification of threats in the organization and include the ways in which the threat
can be handled. Company deals with the crises by making proper strategies to eliminate the
crises and a proper direction to the process of working in increase to the developed performance.
The world is facing a huge impact due to the pandemic which is named by COVID-19. The
COVID 19 has caused a huge impact throughout the world with lots of death and cases of
COVID-19 which are impacting the whole world. The covenant in has impacted the whole world
and it is impacting the retail industries as well which are affecting the business and profitability
of the organizations and decrease of profits and increase in the losses the organizations and the
industries are facing. Lock down due to COVID-19 have impact the retail industries cause
government made a lot of decisions to stop the code and in pandemic and two give a huge impact
on the code 19 situations the government have allowed the lock down situation in the countries
and the retail industries has faced a lot of issues because there are no working an people are
losing their jobs as well as they are not able to work and earn money which is causing them in a
lot of issues in their personal and professional life.
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Wang and et.al., (2018), suggested that The retail industries have faced a lot of crisis due to the
lock down situations because the industries are working advance, and they have already made
different stocks for the coming period and due to the lock down situation the organizations and
different companies working in the retail sector were not able to sell their product and services to
the customers which make their product and services get expired and no sale caused them a huge
loss. Code 19 impacted as March is this month in which every organization do everything in the
financial year closing and the industries closed their high numbers than usual orders but due to
the covenant in situations everything changed.
As per the view of Li and et.al., (2018), many organizations and forms have reported a financial
Hit. Many of the retail organizations have faced a huge impact in their financial stability and it is
very important to understand how critical the COVID-19 in situations can be. the more time it
takes the huge impact it can be on the industries and it is very impactful in the economic stability
also for the country. The impact of COVID-19 and lock down on the retail industries is that,
people who are working have faced recession and country and the industries have faced a
recession and a huge impact in the economic stability which caused a lot of jobs loss to the
people working as organizations are unable to pay the amount due to the lock down for months
which have caused them a huge loss in the business. Retail industries have faced a lot of impact
due to the lock down as people got infected and are unable to get the cure, many of the people
died who are working in the organization and the industry of retail, and they need a total
protection for that the organization and the government has made different plans which include
the lock down of a month to stop the spread of COVID-19 and to reduce the impact of the
pandemic.
Theme 2 The advantage and disadvantage of COVID-19
According to the Harapan and et.al., (2020), Stakeholders are the party which have interest in the
company and can also affect or affected by the business. The primary stakeholders in the
organization are the investors, customers, employee etc. the retail industry is very vast and it is
important for the organization to make changes in the process of development and also to
increase the changes so that the stakeholders impact can be controlled. It is found that there are a
lot of advantage and disadvantage in the supermarket and retail industries where thousands of
people and customers go daily to buy their product and services and utilize the product and
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