Wednesday, May 13, 2020

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Impact of Corona Virus in Business


As government has advised to stay at home and completely shut down all the activities. This has created a major Coronavirus impact in businesses and in corporate world. As a result of lockdown, organizations have shifted their work preferences to online. The peoples need to adjust with the demand of time.

The lockdown situation has taught us many new things, it shows us that our traditional business was not good for us as well as it was quite hectic/ poisonous.  There are many changes in lifestyle get adopted by citizens.

Some of the below points can take over the traditional methods:

Less investment more saving:

In ancient times, peoples used to save money for future use and does not spend on unwanted stuffs. But the time changes and so the generation. The new generation does not believe in savings and they lived on earnings with spending.

But this pandemic corona virus has changed the living standard and citizens are focusing on simple living. The lockdown has changed the way of living. The citizens are focusing more on important stuffs and are not ready to spend on unwanted and unnecessary things.

More focus on local business:

As says, time changes everything. So the thinking also changes over time. The humans were earlier more indulge in doing business/ job outside their hometown, but this coronavirus has bring family close to each other and they are not willing to leave their homeplace  and there lovable family.

Due to sudden lockdown the citizens were unable to go to their home and got stuck alone at work city.

As Indian Prime Minister said on 12th May 2020 speech, "Vocal For Local". this will boost the local store sales locals will shop from nearby stores only.


Impact of Corona in Business

Switch to home delivery business ideas:

Social distancing is must at this time and after wards also humans will keep this trend alive. And they will carry on with social distance, will maintain hygiene, will keep their hands clean, and many more.

The individuals will not move outside their house without any important work. They will try to do all things from home as possible. Such as they will order grocery, and other supermarket stuffs online or from local vendors over call. And ask for contact less delivery.

Business of insurance / policies:

As health is at main priority in 2020, this will call for more health insurance and policies and human beings will focus more on that so the business in Insurance and policies will see sharp increase in demand.

Investment on fitness and health business:

The novel corona virus is attacking more to the unhealthy body and on those whose immunity is weak and have some type of disease such as diabetes, breathing problem, heart disease, cancer patients.

This will make the humans focus more on their health and they will work towards it. Some of the beneficial immunity boosters are yoga, pranayam, gyming, home workout, online fitness classes, healthy diet, and immunity booster drink.

The healthy habits needs to be adopted by all. This prevent ones from getting diseases such as Blood pressure, Diabetics, Obesity, High cholesterol level.

That’s all for now!                                         

Do comment below and let us know what you think about the impact of corona virus on business.

Tags - Effect of Coronavirus in business, Effect of Covid-19, Covid-19 impact on business, How the business strategies will change after corona crises


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