This document discusses some of the business impacts of the COVID-19 pandemic in 3 paragraphs or less:
1) Global stock markets have experienced steep declines, with many markets witnessing unprecedented falls in stock values. This has created an uncertain global business environment and potential opportunities for Chinese conglomerates to acquire struggling European businesses.
2) Widespread lockdowns have led to a surge in unemployment claims, halted business transactions, and job losses worldwide. However, some companies like Amazon have increased hiring to meet a rise in online demand.
3) The pandemic has boosted revenues for internet and telecom companies as daily activities have moved online. It has also created shortages and global competition for medical supplies, exposing dependencies
This document discusses some of the business impacts of the COVID-19 pandemic in 3 paragraphs or less:
1) Global stock markets have experienced steep declines, with many markets witnessing unprecedented falls in stock values. This has created an uncertain global business environment and potential opportunities for Chinese conglomerates to acquire struggling European businesses.
2) Widespread lockdowns have led to a surge in unemployment claims, halted business transactions, and job losses worldwide. However, some companies like Amazon have increased hiring to meet a rise in online demand.
3) The pandemic has boosted revenues for internet and telecom companies as daily activities have moved online. It has also created shortages and global competition for medical supplies, exposing dependencies
This document discusses some of the business impacts of the COVID-19 pandemic in 3 paragraphs or less:
1) Global stock markets have experienced steep declines, with many markets witnessing unprecedented falls in stock values. This has created an uncertain global business environment and potential opportunities for Chinese conglomerates to acquire struggling European businesses.
2) Widespread lockdowns have led to a surge in unemployment claims, halted business transactions, and job losses worldwide. However, some companies like Amazon have increased hiring to meet a rise in online demand.
3) The pandemic has boosted revenues for internet and telecom companies as daily activities have moved online. It has also created shortages and global competition for medical supplies, exposing dependencies
This document discusses some of the business impacts of the COVID-19 pandemic in 3 paragraphs or less:
1) Global stock markets have experienced steep declines, with many markets witnessing unprecedented falls in stock values. This has created an uncertain global business environment and potential opportunities for Chinese conglomerates to acquire struggling European businesses.
2) Widespread lockdowns have led to a surge in unemployment claims, halted business transactions, and job losses worldwide. However, some companies like Amazon have increased hiring to meet a rise in online demand.
3) The pandemic has boosted revenues for internet and telecom companies as daily activities have moved online. It has also created shortages and global competition for medical supplies, exposing dependencies
Christian Service University College [email protected] April, 2020 Historically, the world has witnessed spread of infectious diseases (pandemics) from the
early 15th century until this current dispensation (21st century). These pandemics have culminated
in loss of lives, properties, businesses and other immeasurable opportunities. The Spanish
Influenza, Cholera, HIV/AIDs, Swine Flu, Ebola and other known pandemics have put the world
health system on life support. Leadership of international bodies like the World Health
Organisation (WHO), governments of powerful countries (USA, UK, Germany, Spain and Italy
etc.) and Health ministries in various countries across the globe have to struggle to meet the
increasing health demands of such global pandemics. Such pandemics have revealed the lapses in
the global health system. The novel Coronavirus (CONVID-19) has swept the world off its feet
leaving many scientist, researchers, health professionals and allied health workers are in outmost
disarray in implementing best measures to break CONVID-19 transmission chain.
Scientist and health experts have therefore advocated for a set of global protocols (social
distancing, hands washing with soap under running water for 20 seconds, use of facemasks and
sanitizers etc.) to curb the spread of CONVID-19. Countries have also adopted either partial or
total lockdown measures as preliminary measures to arrest the spread of CONVID-19. China, Italy, India and El Salvador are noted to have adopted the most restrictive mass quarantine measures to
1 curb the spread of CONVID-19. On the other hand, Nigeria, Ghana, Israel and others have also
implemented a partial lockdown measures to suit it economic conditions. India, Nigeria and France have extended periods of lockdown based on their prevailing economic conditions. Government
agents have the notion that countries cannot resuscitate dead citizens but can revive an ailing
economy hence the need to extend lockdown periods in order to save more lives.
Though countries across the world are under lockdown, there is a business perspective to
the CONVID-19. The business beneath CONVID-19 highlights some major concealed business
motives happening despite partial or total lockdown across the world.
Global stocks have begun to dip very low with many stock exchange markets witnessing
unprecedented fall in their stock value. The Dow within this pandemic period experienced the
lowest fall in its stock value in the past decade. The European stock Markets have also had their
own fair share of the impact of pandemic as many European markets have had their stock market
experiencing a downward trend in their stock values. The Futures of the Dow Jones Industrial
Average fell about 200 points indicating a 400-point loss as at 18th March, 2020 (Higgins and
Feuer, 2020). China being the first country to experience CONVID-19 has been able to take up
measures against its spread and has gathered the debris of the misfortune to oil the engines of
production. However, some countries are at disadvantages as stock markets, business entities and
business environment looks unpredictable with future business opportunities looking blurred
aftermath CONVID-19. There is the possibility that Chinese conglomerates will take advantage of the situation of being a global giant to acquire, takeover as well as merge with existing smaller
business units in various European countries. This is against the backdrop that Chinese
conglomerates have major stakes in European corporations and with the occurrence of CONVID-
19, European businesses are more likely to offer their businesses at lower value compared to prices 2 offered by Chinese conglomerates creating unfair competition resulting in distorted market
competitions.
News across the globe estimates that more 3 million people have signed up for
unemployment benefit in USA. It is even predicted that there are going to be more job losses across the globe as business transactions are halted, airplanes grounded, business plans cancelled and
uncertain global business environment. Governments in various jurisdiction has decided to
implement stimulus package for private businesses and workers in general in the form of tax relief for businesses, offering of free water and electricity services for households and others. Front
health line workers are also promised of attractive incentive packages like 50% more on their
allowances, no tax on their basic salary for the period of the pandemic (the case of Ghana).
Moreover, there is light at the tunnel emanating from this current pandemic. Companies like
Amazon have recruited more workers to meet the increasing online demand of its products. It was reported that 75,000 workers were employed by Amazon in order to supply the world its products during this lockdown period. The company plans to recruit more workers (about 100,000
employees) in the coming days. However, this could create a situation where few global giant
companies would monopolise production and delivery of goods and services. Governments
therefore have to intervene through nationalist policies to curb the emergence of exploitative
tendencies.
Though the world is under lockdown, internet connectivity is strong and its accompanying systems are as effective as ever before. The current situation corroborates data as the most valuable product in this technology driven dispensation. Daily activities are confined to online platforms.
Online banking transactions, online service delivery, online educational platforms and such related platforms have made sure that the world continues to perform their daily activities without face-
3 to-face interactions. Globally, educational institutions have adopted innovative means via online
programmes to reach out to their students, faculty and researchers. Classroom interactions are
being held on platforms such as Zoom. Google classroom has been adopted as an innovative means to channel assignments to students in various homes. The more pronounced innovation during this pandemic period is the emergence of the CONVID-19 Google App. This App is primarily designed to track any person who has been infested by the virus in order to get the needed attention as well
as curb a further spread in the immediate environment. The world is in anticipation to witness how this App will help curb the spread of the virus as we anticipate a vaccine from the world
laboratories. IT and telecommunication companies in charge of data are experiencing a huge
boost in their revenues during this period as the world survives on data medication on daily basis.
Countries are divided in their allegiance to two global giants (China or the United States).
Developing countries especially African countries in a dilemma as to which side of the bloc to
support. Majority of African countries (Angola, Ethiopia etc.) owe the Chinese government huge
sums of financial obligations. On the other hand, the United States has been a long time traditional loan financier for most African countries. Moreover, the United States has been a major contributor to the International Monetary Fund (IMF) and the World Bank over the years. Hence, it is expected that countries that benefit from loans disbursed by the IMF and the World Bank must show some
level of allegiance for their traditional development partners. African leaders are in a state of
confusion to satisfy their new master (China) or traditional development partners (USA) in order
to enjoy the goodies of more loan facilities in unforeseen years.
A very interesting perspective beneath the CONVID-19 is the quest to meet global shortage of Personal Protective equipment (PPE), ventilators, facemask, hydroxycholoquine and sanitizers
during this pandemic. The United States had to ban exportation of facemask (3M facemasks) to
4 Canada due to shortage of the product in USA. India has to stop exporting hydroxycholoquine to
the United States in order to meet domestic demand. China has starting producing PPEs, facemasks and ventilators to meet demands in the United States, Spain and Italy. This has expanded the job
creation opportunities in China as the demand-supply gap keeps soaring with more daily cases of
CONVID-19. Intuitively, the situation has created a business opportunity for the Chinese
government and their citizenry. In Ghana, this has presented an opportunity for the technical
industry to engage in the production of health equipment like ventilators, PPE, facemasks and
gloves. For instance, the technical section of the Academic City has started production of low cost ventilators in order to handle CONVID-19 cases in Ghana (566 cases as at 12/04/2020). Scientists and health researchers are undergoing numerous trial test in the quest to develop a vaccine for
CONVID-19 however the business beneath such an adventure is the acquisition of patent right that is expected to yield huge financial reward for inventors of the vaccine. Hence, there is underneath global competition among scientist, researchers and lab technicians to facilitate vaccine trials in
order to take ownership of the vaccine for some years before mass production of the vaccine.
Though CONVID-19 has put the world on its knees, there are uncharted business
opportunities that countries are benefitting from in one way or the other. The future looks uncertain for the world business environment with the insurgence of infectious diseases almost every two
years (Coronavirus-2020, Ebola- 2018 and ZikaVirus-2016 etc.) as well as a pandemic
happening every century (Coronavirus-2020, Spanish Flu- 1920 and Cholera-1820).
References Higgins-Dunn, N. & Feuer, W (2020). Coronavirus reaches all 50 states, stock futures fall, Pentagon sending respirators and ventilators.
