LSBM303: Analyzing Commonwealth Trade in a Digital World Post-COVID

This report examines critical issues in business management within the context of Commonwealth trade. It assesses the impact of COVID-19 on global and intra-Commonwealth trade, evaluates sources of future growth, and explores the significance of digital trade, including trends, challenges, and opportunities. The report also comments on the African Continental Free Trade Area (AfCFTA), its significance, current state, and potential for transformative and inclusive growth, particularly for women. Finally, it presents an elevator pitch suggesting actions the Commonwealth and G7 can take to bolster trade. This document is available on Desklib, a platform providing study tools and solved assignments for students.

Critical issues in Business
management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1 ...........................................................................................................................................1
A. What is the impact of COVID-19 on Commonwealth countries’ global and intra
Commonwealth goods and services exports, and what are the prospects for trade recovery?. . .1
B. Identify and evaluate the sources of future growth including from the Commonwealth
advantage.....................................................................................................................................2
TASK 2 ...........................................................................................................................................3
A. Why is digital trade now more important than ever? What are its main trends, challenges
and opportunities in the Commonwealth including the effects of COVID-19?..........................3
B. There has been much comment on the African Continental Free Trade Area (AfCFTA).
However, what is its real significance, the current state of play and how transformative and
inclusive can it be, especially for women?..................................................................................5
TASK 3 ...........................................................................................................................................6
Elevator pitch..............................................................................................................................6
CONCLUSION................................................................................................................................6
References:.......................................................................................................................................8

INTRODUCTION
The business environment keeps on changing due to its dynamic nature. The business
organisation faces several challenges at the time of operations. The critical business issues is an
problem or opportunities which is critical for the overall organisation success. The external
environment puts an impact on the business operations. This project covers the impact of
COVID-19 on commonwealth countries (Assaad, R. and El-Adaway, I.H., 2020). This project
covers the discussion related to future growth prospects which benefits them. In report it also
discusses commonwealth trade, digital trade and change in Africa along with its trends,
opportunities ad challenges is being analysed. Further, in project comment is being provided on
African Continental free Trade area. Lastly, in project there is elevator pitch in respect to
commonwealth and G7 that can do bolster and boost trade.
MAIN BODY
TASK 1
A. What is the impact of COVID-19 on Commonwealth countries’ global and intra
Commonwealth goods and services exports, and what are the prospects for trade
recovery?
The Commonwealth is an political organization of countries crosswise the global. The
relation trade is build by working together with 54 commonwealth countries. It involves globe
big, small, poor and rich countries and these commonwealth countries are diverse. For small and
vulnerable states the voice is raised as it is seen that all of them have together working. They
needs to have good trade relations and peaceful working in countries (Borges, A.F and et.al.,
2021). The justice and equality is promoted and they works to strengthen governance. They are
able to achieve success by developing inclusive institutes and have power of making laws in
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regards to trade and commerce with other countries. The COVID-19 issues is faced by entire
world and unpredictable economic crisis are faced by whole world. On the commonwealth
countries the impact of COVID-19 are as follows-
Recession- Due to Covid-19 there was no trade which arises an situation of recession.
Their foreign direct investment was also negatively affected and these countries found
themselves in a losing position. All the plans and agendas that were drawn up by these countries
were a challenge at the time. The countries were unable to function properly & effectively
because of lock down.
Poverty- At the time of Covid there was threat in the growth of commonwealth
countries. Before war there was an effective trade which helped people in earning for their living
by employing them and able to do job. The arising of Covid situation, there was no trade in
countries and issue of poverty was faced by poor people. Several people were not having the
money to avail their basic needs because of business loss (Copacino, W.C., 2019).
Reduction in Export- It turns out that the greatest loss these Commonwealth countries
suffer is due to the reduction in exports. They were unable to make money from exports and this
created material problems in other countries.
Hit various sectors- On several sectors there was an negative impact of Covid-19. Due
to low occupancy major issue was faced by hospitality sector. The company was not up to the
situation. Various business organizations have been unable to operate effectively and close
business. This is an important problem that is seen because it has a direct impact on economies
that are already fragile. The health systems were also confronted with problems due to the large
number of patients (Das, A and et.al., 2019).
It is important to take on all of these challenges with a positive attitude and come up with
new ideas. There are certain losses seen by all countries. It is important to take over digitization
now and work effectively. Holding meetings and discussions on the important points is one of
the important tasks for trade recovery.
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B. Identify and evaluate the sources of future growth including from the Commonwealth
advantage.
The commonwealth helps in enjoying economic stability by working with government
and local people. On such countries there is an direct impact which causes an issues in trade.
There are numerous sources that will help in commonwealth growth which are as follows-
Supporting small states- This is a prime issue facing by small states. To overcome with
poverty it is important to provide them support and economic development goals are established
for making effective working. Within time their problems are solved and proper funds are made
available to them (Denicolai, S. and Previtali, P., 2020).
Digitisation- In this digital platforms helps in start connecting with countries. With the
effective use of digitalisation the ease of doing business is enhanced which makes countries
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capable of working at any point and goals are achieved. Digitalisation also helps in managing
information properly and on time solutions are provided to overcome the issues effectively.
Public debt management- The public debt is managed properly through working of
members. For achieving the growth it is essential to manage income in effective manner. It is
being evaluated that by offering expert advice it becomes possible for managing public debt.
Alongside this, it is also important that they receive further training so that they can expand their
skills and manage their debts on their own (Harris, F and et.al., 2021).
Creating better trade opportunities- After Covid-19, it is understandable that there can
be so many uncertainties. It is necessary that members give countries more opportunities. The
loss of employment can currently be seen in the population of the country. Trade opportunities
need to increase as this also improves employment opportunities.
From above it can be said that, all sources helps in growth and development of
commonwealth countries which is important that needs to be considered.
TASK 2
A. Why is digital trade now more important than ever? What are its main trends,
challenges and opportunities in the Commonwealth including the effects of COVID-
19?
To enhance the trade there is need for bringing digitalisation which facilitates in ease of
trade and value of global value chain. The working and scenario is been changed around the
world due to Covid-19. The use of digitalisation helps in operating business organisation
effectively. The cost of engaging in international trade is reduced with the help of digital
transformation which also helps in using new and latest technology for having good connection
between business and makes consumers capable in dealing globally (Hillmann, J., 2021). In the
digital trade several challenges and complexities are faced for enhancement. The digital trade is
an wide concept which not only covers the sale of consumer products on internet and supply of
online services but also there is flow of data which enables global vale chain etc. It is related to
commerce established by means of electronics. The right use of digital commerce makes the
provision of information faster. It turns out that it is not always important that digital commerce
is delivered digitally. It can also be delivered in physical form. The trade must decide for itself
which option is best to carry out the trade. The effective use of digital technology is now
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necessary for all barriers to be removed (Mason, D.J and et.al., 2020). In order to continue
working in unsafe situations such as Covid-19, it is beneficial to use digitization in retail and
improve relationships. In the future, the use of digital commerce will increase and continue to
grow so that all goals can be properly achieved. It is valuable to accept the changes and continue
to grow so that all challenges can be mastered in a timely manner.
The following trends is being examined in digital trade below-
Times are changing- The business organisation are adopting advanced and new
technology with the regular development. With the help of digital technology all the work is
done in effective manner and certain changes is being seen. In order to compete in market and
attaining success there is requirement for adopting digital trade with time.
Getting rights of partnerships and joint ventures- It turns out that a single
organization is incapable of doing all of the work, which requires together working and support
to make the company's job easier. It improves trade relations and enables the business to operate
effectively. The corporate organizations are entering into a joint venture with digital technology-
driven companies so that they can digitize the business, and this is doing their joint ventures
right. All conditions are met so that real success can be achieved. It helps to share the risk and do
the assigned work properly so that real success can be achieved (Metcalfe, B.D and et.al., 2019).
Opportunities in digital trade
The effective use of digital trade helps in garbing several opportunities at right time. In
the most effective manner the data and information proper managed which assists in keeping
record of all essential activities for taking appropriate actions in right time. It helps to own the
trade in a quick time and efficient way. Goods can be delivered more quickly and effective trade
relationships can be maintained (Sennewald, C.A. and Baillie, C., 2020). The digital
transformation has lowered the cost of international trade. Cross-border data transfer is also
made easier with the help of digital trade. The new rules and regulations are also made with the
help of digitization.
Threats due to digital trade
Technology is changing at a rapid pace. This creates several challenges that the
government is also facing. You are faced with the problem of following the new legal
framework. Management is also a challenge as they have a lot to deal with. The danger of digital
disruption has taken place. It turns out that people do not have the right skills to take over
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digitization. Greater use of information and communication technologies increases the risk that
information will be published on multiple platforms. It is important to check and maintain
security so that important information does not get into the wrong hands.
B. There has been much comment on the African Continental Free Trade Area (AfCFTA).
However, what is its real significance, the current state of play and how
transformative and inclusive can it be, especially for women?
The African continental free trade area is worlds largest trading blocs of EU which
provides free-trade area for business persons to have participation. All the peoples are invited
and motivated for trading in Africa. On new year of 2021 the trade area was established which
estimated that it would be as large 1.3 billion people across Africa. This will benefit the people
of Africa as the World Bank estimates they will provide good jobs and lift 30 million Africans
out of extreme poverty. It's a significant change that is being made that has several benefits
(Zangiacomi, A and et.al.,2020). It will enable the business organization around the world to step
up in Africa and begin free trade. This will also increase the country's GDP and many poor
people will get job opportunities. They are enabled to work together effectively and effectively.
All of these will help them get out of poverty. They will get work and the standard of living will
also rise. It is important to note that the more job opportunities there will be. This will help them
make money so they can change their livelihoods. It helps them be inclusive and keep abreast of
the current state of affairs. It is also a moment of change for women. There are great
opportunities that will help women make careers there. The e-commerce sector is going to add so
much to the nation. It is estimated that it will add $ 15 billion to the African market by 2030. It
will help them succeed and make a good contribution to the economy. The women can start their
careers and get involved in trading for profitability. They should use their skills so that they can
perform the tasks effectively. The more opportunities in the market will be attractive to the
women. They will also indulge in commerce and follow inclusion so women can grow with the
help of e-commerce platforms too.
TASK 3
Elevator pitch
It is important to work to achieve sustainability in all parts of the Commonwealth of
Nations. There is a need to conduct adequate research into the problems facing the
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Commonwealth of Nations. There are possible solutions for all challenges that can be solved in
good time so that real success can be achieved. The time is right to take action that will help
make improvements. The use of digitization will help to continue trading effectively. Trade
relations must be expanded. These countries need to dismantle the tariffs and barriers that are
placed on exports. It is necessary to work after digital commerce because it is trending. Proper
use of this technology will contribute to success and improve trade relations. You must work in
such a way that the information is properly managed and properly communicated. The pandemic
was so damaging to the countries and at that point they were unable to do their job. You need to
push for a freer and fairer global trading system. It is important to them to offer them
opportunities that improve trade relations (Zunk, B.M and et.al., 2020). Free trade will allow
more and more people to participate in trade and start their business. It will help them do small-
scale business and generate income. It need to work to empower women to participate in trade.
This will result in adequate development and support for the female candidates. Empowering
women will help them be successful. Measures such as the African Continental Free Trade Area
(AfCFTA) can also be taken to achieve real success. This is good for everyone, and especially
for these countries, as GDP will improve. It helps eradicate poverty for the country and create
employment opportunities. People will be able to live better lives for them. You need to
formulate new principles that support free trade and facilitate export. The use of digitization will
help you to continue trading quickly and to formulate new strategies to continue trading
effectively and successfully.
CONCLUSION
From the above report it is concluded that Covid-19 has a direct impact on every part of
the world. It can be seen that various complexities arise due to changes in the market. The impact
of COVID-19 on global exports of goods and services to the Commonwealth of countries and
goods and services exports within the Commonwealth will be analysed. The report also identifies
the future sources of growth in order to achieve real success. The use of digitization is
increasing, so the trends, opportunities and challenges of digital commerce are part of this report.
There is an assessment of Commonwealth Trade, Digital Trade and Change in Africa. The
imminent change and the benefits for women are analysed in the report. Elevator Pitch is
mentioned at the end of this report.
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References:
Books and Journals
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manufacturing. Production Planning & Control, 31(2-3), pp.143-157.
Zunk, B.M and et.al., 2020. Management of Critical Lower-Tier Suppliers in Global Networks:
Practical Relevance, Literature Review, and Management Perspectives. IEEE
Engineering Management Review, 48(4), pp.181-194.
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