The Coronavirus pandemic across the globe has seen many agencies getting effected in various ways. However, the degrees of loss are diverse from country to country taking into consideration their individual position in the virus inflicted wave and its direct impact on the economy. The following is a critical integration of the ongoing effects of the pandemic in five major countries associated with Global Alliance along with a logical prognosis of the evolution of a virus that is traveling across borders.
China
Most operations and businesses were shut down during the nationwide quarantine period. The supply chain has been heavily disrupted with workers stuck in their homes. There has been substantial economic drainage to combat the spread of the virus and many small and large-scale businesses found it hard to maintain their chains. But thankfully, things are on the verge of gradually getting back to normal as the epidemic is under control for now with less positive cases. Social movement is allowing a steady increase in the sectors of finance, consumption, and manufacturing now that people are being allowed to slowly get back to their normal routine. With no more disruptive waves, China is supposedly in its last stage of the pandemic. The service sector incurred huge losses since no physical activity in association with a project, show or exhibition was being allowed. However, online counterparts like software, live streams, virtual seminar, etc. have made it possible for brands and companies to keep afloat at least. There has been no change in investment budgets which is now put in the development of online service strategy.
India
India has already entered the preliminary grounds of community transmission with an exponential increase in positive cases. The market is currently very volatile in the country that has resulted in many businesses undergoing significant concerns about the future. Work-from-home policies are being practiced in almost all service sectors and infrastructural struggles have been a significant drawback. Since the pandemic and its degrees of destruction cannot be predicted. The whole country is following the guidelines of complete and partial lockdowns mandated by the government. The times are of complete chaos and hence and the long-term impact of the pandemic is yet to come to a concrete understanding. With support and understanding, the clients are also trying to partake in this new scope of workflow. Although the service sector will receive the biggest backlash of this crisis, it will also pave the way for innovation.
Singapore
Countries in the Asia Pacific region have been exposed differently which are currently residing in different states in the lifecycle of the virus. The Singapore market specifically is gradually improving but the impact of the pandemic around the whole region will be felt irrespective of the economically stable state of one or more countries like Singapore. Thankfully, Singapore was dynamic in implementing management protocols when the first strains of the virus were identified there. They have led successful public information campaigns and any quarantine measures for exposed individuals. Singapore was at an advantage because of its small area. But sadly, other countries in Southeast Asia have locked their borders disrupting business immensely. The business side is also facing a dual situation of the impact. Some clients and businesses like tourism have received the short end of the stick which has compelled them to change their strategies, investment values, product planning, and more to manage overheads through fast innovation. Another side represents clients and businesses like e-sport companies who have had exponential growth in their profits since most people are spending time at home playing games. Both clients are trying to seize the opportunity window and the country is only allowing them to run their businesses successfully.
United Kingdom
The stock prices are volatile and economic states cannot be defined in a sentence. The change is rapid and unprecedented and hence, the condition in the country is next to uncertainty. Europe is going through terrible times with countries like Spain and Italy getting disrupted economically owing to the pandemic. The UK is in line and what happens next cannot be put into a few simple sentences. The technological space is adjusting to the new infrastructures and strategies. Business is being carried out under usual guidelines with video and audio interactions replacing physical meets. Social media campaigning for communications has also taken a centre stage. Virtual engagement is being practiced across workplaces so that the ‘business as usual’ approach can be implemented in these long hours of lockdown. Clients are also engaged in daily communication so that the workflow remains unhindered. Adaptability is crucial during this period and everyone is working collaboratively to keep the entire system intact.
United States
The United States is extremely volatile in its third wave of transmission and every city and street corner is facing the wrath of the pandemic. Sectors like travel, hospitality, etc. have suffered excruciating losses while others like finance services are comparatively unscathed. No one as prepared for an extended shutdown and the economic crisis will set in a colossal form very soon. Clients have been mostly stable while some are also making huge profits during this time. New business opportunities are arising and new plans are being strategized in their vision. Clients and businesses that have faced the downside of the crisis have lost between 30-70% of their businesses. The whole world is facing an economic and financial crash and to handle the situation, innovative ideas are being plugged in. The end is expected to set many functional guidelines right so that the next time the world does not collectively dismantle. Communications and public relations are integral in the recovery process of businesses across the world.
