Answer to Question #209934 in Marketing for minha

Question

explain any FIVE impact of Pandemic Covid19 toward international business today.

Answer 1

As leaders struggle to steer their firms through the Covid-19 pandemic, assumptions about the future of international commerce drive decisions ranging from where to sell to how to manage supply chains. The epidemic has spurred a new round of global business obituaries, but the most recent statistics and forecasts suggest that CEOs should prepare for — and shape — a world in which both globalization and anti-globalization pressures are permanent elements of the corporate landscape.

Covid-19 has accelerated ongoing technological advances like as the use of e-commerce, videoconferencing, and robots. Many people were focused on how new technology could lessen global flows prior to the pandemic, such as manufacturers substituting robots at home for low-cost labor overseas. Many pandemic-induced adjustments, on the other hand, could strengthen globalization if they are not stifled by protectionism. Export potential are increased by cross-border e-commerce, especially for small businesses. If forced remote employment is successful, it could lead to greater service offshore. Even 3D printing has been shown to increase rather than decrease trade. Because of Covid-19, public opinion on International has taken another bad turn, eroding the unusually strong support for trade and immigration shown in recent polling. Increased worldwide travel hastens the spread of contagious diseases, while economic stress may fuel calls for trade protectionism.

Hundreds of millions of people have been affected by travel bans and quarantines, leaving global companies short of labor and parts, disrupting just-in-time supply chains and prompting sales alerts throughout the technology, automotive, consumer goods, pharmaceutical, and other industries. Commodity prices have fallen as a result of lower global raw material use, and manufacturers are considering reducing output. Mobility and job disruptions have resulted in significant drops in global spending, putting pressure on multinational corporations in a variety of industries, including aviation, international education, infrastructure, tourism, entertainment, hospitality, electronics, consumer and luxury goods.