Analysis of COVID-19 Impact on Business and Strategic Recommendations

This report provides a comprehensive analysis of the impact of COVID-19 on businesses, covering various aspects such as consumer behavior, market changes, and strategic adaptations. It begins with an individual summary of an article focusing on the pandemic's effect on businesses, followed by a literature search evaluating the role of cause marketing in modern society. The report then outlines SMART objectives for a reflective report on group work skills, discussing challenges faced during group activities and identifying areas for improvement, including coordination, communication, and leadership. Additionally, the report presents data on budget travel trends, market share, and passenger growth, offering insights into the industry's evolution. Finally, a skill audit reflection is included to assess and evaluate the skills developed throughout the process. The report utilizes various sources and includes tables and charts to support its findings, demonstrating a detailed examination of the pandemic's impact and potential business strategies.

ASSIGNMENT

TABLE OF CONTENTS
TASK 1- INDIVIDUAL SUMMARY............................................................................................1
Main idea of the article................................................................................................................1
Contribution article makes to practitioners..................................................................................1
TASK 2- LITERATURE SEARCH................................................................................................2
Evaluate the role of Cause marketing and its role for modern society........................................2
TASK 3- SMART OBJECTIVES...................................................................................................3
TASK 4............................................................................................................................................5
Reflective report..........................................................................................................................5
TASK 5............................................................................................................................................6
1. Presenting the chart of growth of budget in term of number of passengers carried................6
2. Figure to show the market share of airlines in 2019................................................................6
3. Trend in budget travel will continue into 2020.....................................................................10
TASK 6..........................................................................................................................................10
Skill Audit Reflection................................................................................................................10
REFERENCES..............................................................................................................................12
APPENDIX....................................................................................................................................13
Skill Audit..................................................................................................................................13

TASK 1- INDIVIDUAL SUMMARY
Main idea of the article
The main idea of this article is to gain better understanding of impact of COVID-19 on
business. This current pandemic situation of Covid-19 has not only impacted living life style of
people but it has also impacted various kinds of organizations and their way of doing business. It
has also been observed that economic impact of this pandemic situation has impacted every
organizations globally (Donthu, and Gustafsson, 2020). Most importantly business has been
impacted because this situation has brought drastic changes within overall behaviour of
consumers. This article has focused upon ways in which business organizations can bring
changes within their key or major functions in order to increase brand value, attract customers
and sustain within the current pandemic situation. This article has focused upon explaining
consumers behaviour during Covid-19, ways in which market has been impacted due to Covid-
19 situation, prediction of Coronavirus lasting effect, ways in which this situation has impacted
business and how they can overcome barriers of challenges created due to this pandemic
situation. This article also helps in identifying industries that has majorly been impacted due to
Covid-19 i.e. Tourism industry. In this different discussion of different ideas has been done so
that business organizations in this industry can grow and evolve. In this article various kinds of
factors have been identified because of which negative impact of Coronavirus situation upon
business is increasing.
Contribution article makes to practitioners
This article can help business practitioners to understand ways in which Covid-19 situation
has impacted their business and strategies that can be adopted by them to bring changes within
their business that can help them in attracting a greater number of customers. Contribution of this
article for practitioners is that with the help of this article, they can understand in a much better
manner ways in which behaviour of customers have changed and ways in which their needs,
requirement and preferences have also changed (Donthu, and Gustafsson, 2020). Not only this,
this research can further provide a brief overview of key factors that can help them in bringing
chances within their key business functional areas for attracting a greater number of customers
and reduce negative or drastic negative impact of Covid-19 situation upon business. It will
further provide them with a brief over view of factors that are mostly ignored by companies and
are required to be focused upon that can help companies not only in attracting customers but also
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in terms of sustaining within the market in which they operate. One of the main way in which
this article has contributed for business organizations is to identify ways in which organization
can develop new business for meeting new and special demands of customers. They can also
collaborate with other firms so that special needs and requirement of customers can be fulfilled
by companies and will further helps them to frow and expand even in this Covid-19 situation.
TASK 2- LITERATURE SEARCH
Evaluate the role of Cause marketing and its role for modern society.
According to the view of Abdullahi, (2019) because marketing is also known as cause- related
marketing is a kind of marketing which is used for non-profitable and worthwhile causes. It helps
organizations to differentiate as well as drive their business (Ratnakaran and Edward, 2019).
This marketing term is not used for development of a general sense of marketing program for
profit brands that are based upon charitable and social cause (Hanzaee, Sadeghian and Jalalian,
2019). It can also be said that it is a collaborative effort between for profit brand and non-
profitable organization for mutual benefits.
As per the view of Ballings, McCullough and Bharadwaj, (2018) Cause- marketing plays
a vital role for organizations in attracting customers. It is a part of business strategy that helps in
increasing active involvement and engagement of customers, increase product differentiation,
influence customers and maintain effective two- way communication between business and
customers. It plays a vital and important role in organization (Pracejus and et.al., 2020). It helps
in increasing brand loyalty among customers that further helps firms in increasing chances of
success of brand. It further helps companies to differentiate their products from other
organization’s products, help customers in identifying unique features of products and further
helps in identification of a fact that whether the product is for a social purpose or not (Gupta and
Anand, 2020). The of the most important and vital role that cause marketing has it that it reduces
overall employee retention.
As explained by Chang, Chu and Tsai, (2020) cause marketing not only provide various
benefits to organization but it plays an important role in modern society as well. It helps in
development of a better modern society. It helps the organizations in focusing upon their
corporate social responsibilities (Petrova and Kamenova-Timarevab, 2020). It increases
awareness among people and make them realise what is right thing to do that can norm only help
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in making or developing a better society but also bring improvement within business as per the
changing society norms and focus.
Thamaraiselvan, Arasu and Inbaraj, (2017) Elaborates that, Cause marketing make
organizations focus upon main issues or problems of society and resolve them. For example, it
helps the organizations to make people aware about environmental issues and ways in which
those issues are degrading overall health of people living in the society. Companies focusing
upon increasing overall CSR level of business and making people aware about importance of
environmental issues and reason because of which they have adopted environment friendly
products, packaging etc. it not only focuses upon bringing changes within overall perception of
companies but it further helps in changing overall perception of customers so that a better society
can be developed for living (e Silva and et.al., 2020). It makes companies focus upon doing well
by doing good i.e. if brands focus upon doing something positive for the society in order to bring
positive changes within society then it can further help them in development of positive brand
image and enhance brand loyalty among customers.
TASK 3- SMART OBJECTIVES
In this task SMART objectives for one of the remaining tasks are required to be
developed. Here, SMART objectives of Task 4 will be developed. Task 4 is a reflective report
will be developed in which reflective report providing details of different kinds of group work
skills that can be improved will be developed. Smart objectives for task 4 are as follows:
Specific Measurable Actionable Realistic Timed
To develop effective
SMART objectives for
completion of Task 4 in
an appropriate manner.
Yes Develop an
appropriate and
effective plan
Yes 1
month
Read all the instructions
of Task 4 clearly in
order to understand
what is required to be
done in task 4 within 1
hr
YES
Measure:
To complete
the reading
Review all the group
activities that have
been covered in this
Moodle in which I
have participated in
Yes, it is realistic
because reading all
the instructions will
provide me with a
much better and
appropriate view
point of what is
1 hr
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required to be
achieved. Material
required for this task
is Task 4 assessment
brief.
To review all the group
activities during
Moodle in which I have
participated in one day
in order to understand
different kinds of group
working skills that are
still required to be
developed.
Yes
Measure:
review of all
the
activities in
Moodle
One by one review all
group activities, my
role in all the
activities. Check
whether I have
successfully fulfilled
those activities or not.
Lastly identify
problems or issues
faced by me during
each activity.
Yes, it is a realistic
goal or objective that
can be achieved.
This objective is
extremely important
to be achieved in
order to gain better
understanding of
Task 4. For this
material required are
final submission
report of all the
activities.
3 hrs
To identify different
kinds of group working
skills that are important
to be developed by the
end of the week.
Yes
Measurable:
Make a list
of all the
important
and required
group
working
skills
Spend one hr online
every day to identify
required group
working skills. Ask
feedback from
lecturer for
identifying required
group working skills.
Yes, it is realistic as
various kinds of
resources are
available for this
objective.
1 hr
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TASK 4
Reflective report
There were various kinds of group working activities in which me and my other team
members participated. During these group activities me and my team members were required to
discuss article about ways in which Covid-19 change team work. During this activity I have
identified that there was lack of coordination between me and my team members. Due to Covid-
19 all of these group activities were done online and I realized that we were facing lots of issues
in coordinating with each other and because of which we were facing difficulty in completing
this task as well were required to discuss with each other and then answer the question. This
helped in identifying that there was requirement of coordination team working skill which was
required to be worked on so that we can effectively work together, coordinate with each other
and complete given task in an appropriate manner. Another group activity was to find an article
on EBSCO database and then prepare a presentation. In this task we were facing difficulty in
completing poster presentation and develop a mind map on time. This was because I was lack of
proper communication and taking of initiative. I need to bring improvement within by
communication skills so that I can take initiative and explain my point of view, present my
findings and work appropriately. Oral communication skill is another important group working
skill that was required to be improved by me as due to lack of this skill I was facing difficulty in
completing this task on time and present my work.
During this mind map poster presentation group activities, I was taking initiative of
leading the group but due to difficulty in oral communication I was facing difficulty in
coordinating with every one and if any kind of problem occurred then I was also king difficulty
in resolving issue that occurred. This experience helped in un understanding that there were
various kinds group working skills of mine that were required to be improved by me. First of all,
I need to develop leadership skills so that I can lead a group of people and complete given task
successfully in a proper and effective manner. It is important to have leadership skills as it not
only helps in leading a group but it will also help me in motivating my other group members so
that they can work together with each other coordinating and completing a task successfully in a
proper manner. other than this, I have also identified that it is important for me to develop critical
thinking and problem- solving skills so that if any kind of issue occurs within a team then I can
analyse and evaluate it and resolve it. This will further help me in developing coordination
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within team members and complete any task successfully within defined time period successfully
in which all the group members participate equally and support each other. These are solve
important group working skills that are required to be developed by me.
TASK 5
1. Presenting the chart of growth of budget in term of number of passengers carried
000’
Person 2014 2015 2016 2017 2018 2019
Charter 10,710.40 8,139.50 8,299.60 8,352.20 8,366.40 8,341.30
Low Cost
Carriers 57,453.90 66,585.80 78,092.00 79,759.00 81,593.40 82,817.30
Scheduled
Airlines 27,231.20 28,089.40 28,961.50 31,002.90 31,529.90 31,876.80
Airlines 95,395.50 102,814.70 115,353.10 119,114.00 121,489.70 123,035.40
2. Figure to show the market share of airlines in 2019
2015 2016 2017 2018 2019
6

British
Airways
Plc
34.1 33.4 34.2 33.6 33.1
easyJet
Airline Co
Ltd
16.9 16.7 16.5 17.1 17.9
Ryanair
Holdings
Plc
7.9 10 9.3 8.9 8.6
Thomson
Airways
Ltd
5.9 5.5 5.2 5 4.8
Qatar
Airways
Group Plc
3.2 3.3 3.8 4.4 4.7
Virgin
Atlantic
Airways
5.4 4.7 4.4 4.1 4.3
Ltd
Norwegian
Air UK
Ltd
1.1 1.4 1.6 2.8 3.2
Air
France-
KLM
Group SA
3.5 3.3 3.1 3 2.9
Deutsche
Lufthansa
AG
2.8 2.6 2.5 2.4 2.4
Thomas
Cook
Airlines
Ltd
2.9 2.7 2.5 2.4 2.4
Cathay
Pacific
Airways
1.8 1.9 1.8 2 2.1
Ltd
7

Etihad
Airways
PJSC
1.7 1.8 2 2 2.1
Flybe Ltd 1.5 1.6 1.7 1.7 1.7
Wizz Air
Hungary
Ltd
1 1.1 1.3 1.5 1.7
Jet2.com
Ltd 1.1 1.2 1.2 1.5 1.6
Emirates
Group Plc 1.3 1.3 1.5 1.5 1.5
Singapore
Airlines
Ltd
0.8 0.8 0.9 0.9 0.9
(SIA)
Monarch
Airlines
Ltd
1.6 1.5 0.9 - -
British
Midland
Airways
Ltd
- - - - -
Others 5.5 5.2 5.5 5.1 4
Total 100 100 100 100 100
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3. Trend in budget travel will continue into 2020
Yes, the trend in budget airline travel will continue in 2020 because there is a slightly
increase in the passenger carried in specific areas such that scheduled airlines are increases from
2014 to 2019. Thus, it is expected from the airline industry that it will be increases by 2020
because the trend line is increases continuously from last 5 years. Therefore, the number of
airlines are also increases form last many years because the demand of passenger increases. This
is also clearly reflected that by 2020, travelling is increases because of increase in demand. The
data of airline industry also reflected that passenger carried is increases by year by year and that
is why, it will help to provide an opportunity to focus upon this so that people will take
advantage from the same.
In addition to this, it is also analysed that there is an increment in the low cost carrier
from last 5 years and the graph shows it is high as compared to other component because people
are ready to pay afford the price of airlines. Moreover, budget of an airline industry should be
increases because of increase in demand and the industry is considered as one of the safest and
require less travelling time as compared to other mode. That is why, trend in 2020 will be
continue into 2020 and this shows the positive impact upon the industry as well.
TASK 6
Skill Audit Reflection
Skill audit helps an individual to identify their major strengths and weaknesses in a
proper and appropriate manner. it can directly help an individual in identifying their major areas
in which they need to bring development. This skill audit has helped me in identifying my major
strength areas and my main weaknesses that are required to be worked upon. Some of my main
strengths are: analysis, self- appraisal, reflective practise, planning and management. I can easily
analyse any kind of information that I have collected and put it into appropriate category. I can
also analyse information collected by me against general standards for checking its
appropriateness, correctness and relevance. I am good in identifying my main strength and
weakness area and can also identify whether work done by me is good or not. Another one of my
main strength is planning and development because it can work on my own and can identify
actions that are important and necessary for me and for its completion, I can easily break down
any ask into manageable subtask so that I can meet final deadline of the projects. This skill audit
has further helped in identify main weakness and my major area of development that are required
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