Impact of COVID-19 Impact of COVID-19
Opportunity or Threat? The Potential Impact of the Covid-19 Pandemic on Your Firm 22 unread replies.22 replies. For this week’s graded discussion, I want you all to discuss the current elephant-in-the-living-room and how it will potentially impact your firm. There can be no doubt that the current pandemic has dramatically impacted our lives, and the economic well-being of pretty much every industry in some way or form. Some of the things that I personally find interesting to learn and contemplate are the various ways that the pandemic is affecting different industries. For example, while the restaurant business is facing desperate times, online retailers are thriving. Gyms and personal health services are devastated, but maybe not as much as we initially believed they would be..it depends on the nature of the service and how it is delivery. Certainly when one looks at the stock market, it dipped and grew better than many of thought was possible, yet still there hangs a lot of economic instability in the air. You can also delve deeper into the secondary effects. How many of us anticipated the impact on global supply chains, for example? The answer to the question as to whether or not the pandemic helps or harms a given firm seems to depend intimately on; the nature of the product or service being sold, how it is made, and/or how it is delivered to end users, the effect of substitution, and the list can really be endless.For this week’s discussion, do a little bit of research and thinking about your firm and the pandemic’s influence and answer the following questions: What are the current short-term impacts of the pandemic on your firm? What are the anticipated long-run affects? When reading the posts of your classmates, can you help them out by thinking of any possible additional affects of the pandemic on their firm?