A Comprehensive Report: The Effect of COVID-19 on Businesses

This report examines the significant impact of the COVID-19 pandemic on businesses. It highlights the widespread challenges faced, including supply chain disruptions, decreased consumer spending, and workforce shortages, leading to business losses and increased unemployment. The report discusses how the pandemic caused a deficit between demand and supply, affecting both colonial and de-colonial businesses due to import and export restrictions. It emphasizes the crucial role of organizations in protecting their workers, addressing market concerns, and mitigating the epidemic's effects. The analysis references various studies and reports to provide a comprehensive understanding of the economic and operational consequences businesses faced during the pandemic.

Running Head: Effect of COVID-19 in Business
EFFECT OF COVID-19 IN BUSINESS
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Effect of COVID-19 in Business
Corona Virus, the COVID-19, was announced by the World Health Organisation on 11
March, a pandemic. With this reporting, tension, worry, and even anxiety are both simple and
true for us. The pandemic is increasing at a very higher rate when person to person contact is
witnessed and the virus which is spreading through respiratory droplets formed when an infected
individual coughs or sneezes these droplets gets transmitted into the mouths or noses of people
who are nearby or possibly be inhaled into the lungs due to close contact of persons. The only
way suggested by 'WHO' to control the pervasive is to stay isolated and practice quarantine at
homes rather than roaming around freely in public and market places (Velavan & Meyer, 2020).
The market and business have seen the major crisis as broad quarantines, limits on transport, and
social isolation interventions contribute to a drastic decrease in customer and company spending.
Not only the colonial business is suffering, but also the de-colonial business is seeing the same
phase as Consumers are staying home, businesses losing profits and laying staffs off, which is
leading unemployment to increase sharply. Contracts for corporate investment and bankruptcies
have risen and place enormous pressure on the bank and financial system. Also, the significant
products, including processed foodstuffs, soaps, and detergents, are manufactured to less than
10% of average amounts.
With the spread of COVID-19 across 150 countries, there are many challenges set; some
organizations accurately follow their coronaviruses inside the organization's silos, for instance,
supply chain activities are directed by the production department, sales, and marketing
departments focus on consumer relations and many more (Chinazzi, et.al, 2020). But those teams
are inherently special and are intensely pragmatic, so go straight into their particular patch of
weeds instead of considering other parts of the company are doing or what might come next. The
major problems which is faced by the current market scenario is the reason for the deficit

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between demand and supply (McKibbin & Fernando, 2020). The supply has become limited and
on a much monitored way which is because the shortage of workforce and governmental policies
which is all created in consideration with the present scenario to avoid more causalities and to
keep a check on the spread of COVID-19 so that the current situation can be contracted and the
normal days could be resumed. The virus had disrupted the whole process which means no
import and no export which in turn has cost the company a huge loss as their production is
stoped which is an example of how the de-colonial business is collapsed and also the present
demand cannot meet the desired expectation as no import is being entertained at the same time
the country whose entire economy depends on the business of import and export which is the
example of how colonial business had collapsed (Baldwin & Tomiura, 2020).
The epidemic of the coronavirus is an ambiguous ending story. The human cost is now
devastating, and businesses have an overwhelming responsibility to protect their workers,
resolve market concerns and threats, and try to minimize the epidemic as best as they can.

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Effect of COVID-19 in Business
Reference
Baldwin, R., & Tomiura, E. (2020). 5 Thinking ahead about the trade impact of COVID-
19. Economics in the Time of COVID-19, 59.
Chinazzi, M., Davis, J. T., Ajelli, M., Gioannini, C., Litvinova, M., Merler, S., ... & Viboud, C.
(2020). The effect of travel restrictions on the spread of the 2019 novel coronavirus
(COVID-19) outbreak. Science.
McKibbin, W. J., & Fernando, R. (2020). The global macroeconomic impacts of COVID-19:
Seven scenarios.
Velavan, T. P., & Meyer, C. G. (2020). The COVID-19 epidemic. Trop Med Int Health, 25(3),
278-280.