ECONOMICS
Economics: What Businesses Benefited from Pandemic
The demand and supply were transformed entirely by the advent of Covid-19. The outbreak of the virus was not expected by anyone globally, and how it would affect business operations was unanticipated. Some businesses faced problems in dealing with supply chain functions, export orders, storage for raw materials and finished products, and final deliveries. At the same time, some took a new turn for their rising graphic ride due to pandemics (Shafi, Liu & Ren, 2020). This paper aims at providing a list of four businesses that pandemic affected positively and the opportunities the pandemic brought for them, assisting in value creation.
The businesses that have benefited from the pandemic are:
Logistics and Delivery
This business has boomed while people were sitting at homes during the lockdown, whether food delivery or product delivery resulting from online buying. Amazon, Alibaba, E-bay, and thousands of other businesses accelerated their sales and promotions during pandemic times. People were sitting at home due to virus outbreaks and strictly prohibited their governments from stepping out of their homes. It includes food delivery services since vegetables, fruits, and other household items were in high demand due to preventing people from grocery shopping in big malls like Wal-Mart and Target, etc.
The logistics and retail companies are now forced to re-think their supply chain operations as inventory management has to be tackled intelligently during these times. This is limited to road logistics and air and water transport. Although flights were affected adversely during the initial days of the pandemic, however, now due to vaccination and the rate of Covid cases decreasing globally, the airlines route suspensions have eased. The...
The opportunities that Covid provides social media and entertainment businesses are that of public awareness, contacting customers, helping people to cope with stress despite being at home, contributing to a decrease in mental hardships, generating responses, and taking opinions through freedom of speech on these platforms, and producing original news instead of fake ones, especially when it is related to a serious…
References
Bukhari, N., Rasheed, H., Nayyer, B. & Babar, Z. (2020). Pharmacists at the frontline beating the Covid 19 pandemic. Journal of Pharmaceutical Policy and Practice, 13. https://doi.org/10.1186/s40545-020-00210-w
European Pharmaceutical Review. (2021, January 20). The pandemic and the pharmaceutical world. https://www.abpi.org.uk/covid-19/what-are-pharmaceutical-companies-doing-to-tackle-covid-19/Oxfam. (2020, September). Power, profits and the pandemic: From corporate extraction for the new to an economy that works for all. https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621044/bp-power-profits-pandemic-100920-en.pdf
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Shafi, M., Liu, J., & Ren, W. (2020). Impact of Covid-19 pandemic on micro, small, and medium-sized enterprises operating in Pakistan. Research in Globalization, 2. https://doi.org/10.1016/j.resglo.2020.100018
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