Economy Pandemic: A Crisis Management towards Post COVID-19. A Commentary Opinion
COVID-19 Corona Virus pandemic is not only destroying the lives of people but it is equally scattering the economic lives of people all around the world. The COVID 19 pandemic has led to a widespread economic shut down thus raising the issue of post effect of COVID-19 towards the global economy....
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| Format: | Article |
| Language: | English |
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ORDT: Organization for Research Development and Training
2020-05-01
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| Series: | Journal of Interdisciplinary Sciences |
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| Online Access: | http://journalofinterdisciplinarysciences.com/wp-content/uploads/2020/04/1-Economy-Pandemic-A-Crisis-Management-towards-Post-COVID-19.-.pdf |
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| Summary: | COVID-19 Corona Virus pandemic is not only destroying the lives of people but it is
equally scattering the economic lives of people all around the world. The COVID 19 pandemic has led
to a widespread economic shut down thus raising the issue of post effect of COVID-19 towards the
global economy. It has become a global economic crisis and brought about an economic pandemic to
humankind with unemployment, business closure, shut down or fast tract economic boosting plans. The
purpose of this study is to shed theoretical perspectives towards crisis management to boost growth for
organizational economy. Theories of economic and management were interconnected to analyse this
study on scientific realities. However, an economic pandemic may not be hard to overcome if crisis
management is applied strategically through business diversification but not by crisis avoidance and
crisis ignorance. Crisis management is all about having a newer vision through business diversity by
creating newer business lines and creating spaces for small and medium enterprises and cottage
industries to operate. This further enhances employment and keeps the purchasing power equilibrium
intact for stagnant demand and supply ratio. This crisis management can be maintained through
diversity management and the best strategic option is the pruning diversity strategy. Crisis ignorance
and crisis avoidance are situational but that crisis management is long term.
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| ISSN: | 2594-3405 |