Covid Impact

THE IMPACT OF COVID 19 ON VARIOUS BUSINESSES
This essay was made to fulfill an assignment for an English course

Supporting Lecturer : Eiffeliena Nur’aini Fisikaningputri Purwienanti, S.E.,
Akt.,M.M.,M.Fin.An.
Arranged by :
Nita Kumala Sari - 40011422650267
D4 TAX ACCOUNTING
STUDY PROGRAM VOCATIONAL SCHOOL
DIPONEGORO UNIVERSITY
SEMARANG
2022
THE IMPACT OF COVID 19 ON VARIOUS BUSINESSES
COVID-19 is an pandemic that has caused severe economic changes around the world, and
countries are likely to feel the effects. This is not only causing changes in the business sector
but to the way consumers act and behave. Governments have closed borders, banned mass
gatherings, and enforced social distancing, generating a new normal for businesses and
individual citizens.
As previously mentioned, people have been confined to their homes. They are busy looking
for the best protection for themselves and their families . In addition, many of them feel
depressed because they have lost their jobs or because they work near people who are
potentially infected. The consequences of the pandemic outbreak have hit various sectors of
society in different ways. People working in health-related sectors have to endure arduous
tasks and very long working hours. Plus, people are losing jobs at a rate we've never seen
before. For example, the sectors that experienced the largest increase in unemployment were
those that were hospitalized and required the physical presence of customers (eg, hospitality,
tourism, and entertainment). Even the travel industry is heavily affected as 80% of hotel
rooms are vacant. All countries that can try to stimulate their economies to keep as much of
the necessary infrastructure intact as possible and to keep citizens productive or ready to be
productive once the pandemic has been contained.
People are being encouraged to respect distance social and remain at home as there is a
worldwide lockdown. Being alone could be harmful to us because we are social beings at our
core. For instance, there are extremely few opportunities for social gatherings during the
Covid 19 outbreak. Particularly for those who reside far from their families. However, these
limitations have also led to an increase in other, more beneficial behaviors brought on by
social distance, such as, People are beginning to settle down, pick up new skills, and give
their homes more thought. They could attempt to lose weight, learn how to bake a cake, solve
a puzzle, etc. Then this covid outbreak is also likely to cause bankruptcy for many of those
who have businesses not only UMKM but also have an impact on well-known businesses in
many industries because consumers stay at home and the economy is closed. The use of
digital technology, whether through online services or information platforms, can keep
people connected.
While some businesses are on the verge of bankruptcy, some businesses are actually thriving.
This is true with internet-based businesses such as those related to entertainment
online, food delivery, online shopping, online education, and solutions for remote work.
House. Other industries that are doing well are those related to health care and
pharmaceuticals as well as herbs and vitamins. The COVID-19 outbreak presents a unique
opportunity to study how markets are created and how they disappear within a very limited
time span.
The existence of this covid outbreak should allow countries to plan in case something similar
occurs. Food, equipment, and medicines are among the goods that nations are either
beginning to store or preparing to create locally. A consistent and dependable supply chain is
crucial for larger multinational businesses. The COVID-19 epidemic, on the plus side,
presents excellent chances for businesses to actively engage in their corporate social
responsibility (CSR) policies and agendas. The market after COVID-19 will be substantially
different. Organizations must reassess their vision, mission, and goals to take into account,
among other things, changes in their customers and rivals. The fundamental feature of this is
the rapid growth of communication and technological progress.
Bibliografi
Gustafsson, N. D. (2020, September). Effects of COVID-19 on business and research. (A. Gustafsson,
Penyunt.) Journal of Business Research , 117, 284-289.
doi:https://doi.org/10.1016/j.jbusres.2020.06.008

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THE IMPACT OF COVID 19 ON VARIOUS BUSINESSES

This essay was made to fulfill an assignment for an English course

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