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Semelhante a Global impact of COVID-19 on Society Business and Economy - by Dr Swati Mishra
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Global impact of COVID-19 on Society Business and Economy - by Dr Swati Mishra
- 1. Global Impact of COVID-19 on Society-Business-Economy National Level Paper Presentation Conducted by NITTE School of Management,Bangalore Dr. Swati Mishra B.A.M.S, PGDEMS, PGDSP, PGDM (*Pursuing)
- 2. Content 01 02 03 05 06 Introduction Impact on Society Impact on Business Impact on Economy Literature review Rationality of Study 04 07 Finding the way forward 08 References
- 4. Rationality of Study Objectives Needs ▪ To showcase the learnings of pandemic. ▪ To understand the current impact on Society, Business and Economy. ▪ To elaborate the aftermath of pandemic. ▪ Way forward? - To revisit the learnings for revival. - Preventive measures to implement • Limit the spread of virus • Strengthen decision support system • Revisit the spend vs growth drivers • IT - Centralize , Automate & Collaborate
- 5. Learnings through Literature Review Key Points • Researchers - Chakraborty and Maity, explained the types and impact of transmission and emphasized on the global strategies to limit the spread. In his study, he also emphasized the positive impact on environment. • Researchers - McKibbin and Fernando, have elaborated the impact of COVID-19 on different economic sectors like trade, monetary systems, finance and banking • Researchers - Maital and Barzani, have explained the supply side disruption mainly in pharma, as china being a global leader in manufacturing raw materials. • Researchers – Nicola and team have emphasized the effects of COVID-19 on primary, secondary and tertiary sectors of different countries. • Researcher Robert have examined the use of contagion as a model for accessing the dynamics of spread of infection and diffusion of shock through intra-financial system. * Notable literatures, must read.
- 7. Lockdown • Political discord • Increased unemployment • Emergence of xenophobia • Labour continuity challenges • Education impediment • Employees constraint • Travelling restrictions • Work from home culture Post Lockdown After effects • Change in consumer behaviour • Constrained healthcare delivery system • Sales crash • Reduced capacity utilization Pandemic • Fear and Panic • Social distancing • Detrimental to Poor • Psychological distress
- 9. • Market Responsiveness • Sales Effectiveness • Product Development Effectiveness • Customer Responsiveness • Supplier Effectiveness • Operational Efficiency • HR Effectiveness • IT Responsiveness • Finance and Regulatory Alertness Demand Management Supply Management Support Services
- 11. Unemployment Volatile Stock Market Support Packages Drop in GDP-FDI-FII Risk of RecessionRevenue Constraint
- 12. Way Forward • Sustenance of sales – Online and Contactless commerce / service • Work from Home & people safety • Enhancement of Digitalization and Remote collaboration React to New Realities01 • Reprioritization & reskilling • Mitigation of financial losses • Cost optimization & reinvestment Rebound to Future02 • A vibrant market. • Robust strategy for better future • Emphasis on Automation, & Digital Channels Accelerate Growth03 • Business as usual, with exponential growth. • Identify next hill - Preparedness Steady State04
- 13. ▪ Chakraborty, I., & Maity, P. (2020). COVID-19 outbreak: Migration, effects on society, global environment and prevention. Science of the Total Environment, 138882. ▪ McKibbin, W., & Fernando, R. (2020). The economic impact of COVID-19. Economics in the Time of COVID-19, 45. ▪ Maital, S., & Barzani, E. (2020). The Global Economic Impact of COVID-19: A Summary of Research. Samuel Neaman Institute for National Policy Research. ▪ Nicola, M., Alsafi, Z., Sohrabi, C., Kerwan, A., Al-Jabir, A., Iosifidis, C., ... & Agha, R. (2020). The socio-economic implications of the coronavirus pandemic (COVID-19): A review. International journal of surgery (London, England), 78, 185 ▪ Peckham, R. (2013). Economies of contagion: financial crisis and pandemic. Economy and Society, 42(2), 226-248. ▪ Steve MacFeely (Chief Statistician, UNCTAD), Angela Me (CCSA Co-chair and Chief of the Research and Trend Analysis Branch, UNODC), Haishan Fu (CCSA Co-chair and Director of the Development Data Group, World Bank), 26th May 2020. [The impacts of COVID-19 around the world, as told by statistics]. Retrieved from https://www.weforum.org/agenda/2020/05/statistics-are-key-to-understanding-covid-19/ ▪ John Ferguson (Research Associate at TrustRadius), 8th June 2020. [New Data on How COVID-19 Will Impact B2B Tech Spending]. Retrieved from https://www.trustradius.com/vendor-blog/covid-19-tech- spending-data ▪ Felix Richter (Data Journalist, felix.richter@statista.com), 7th May 2020. [Europe Faces Historic Recession Due to COVID-19 Pandemic]. Retrieved from https://www.statista.com/chart/21634/gdp-growth-forecast- eu-and-euro-area/ ▪ Milko Malev, 03rd April 2020. [Is the coronavirus pandemic an engine for the digital transformation?]. Retrieved from https://dmexco.com/stories/is-the-coronavirus-pandemic-an-engine-for-the-digital- transformation/ ▪ History.com Editor, Publisher - A&E Television Networks, 19th May 2020. [Pandemics that Changed History]. Retrieved from https://www.history.com/topics/middle-ages/pandemics-timeline References
- 14. Even the darkest night will end and the sun will rise.” Victor Hugo Q & A
- 15. THANK YOU Dr Swati Mishra E-Mail: drswatirath@gmail.com B.A.M.S, PGDEMS, PGDSP, PGDM (*Pursuing) Coming together is a beginning, keeping together is progress, working together is success