REFLECTION PAPER: COVID-19 AND ITS EFFECT ON THE BUSINESS WORLD
COVID-19, the virus that changes our lives. According to World Health Organization
(WHO), COVID-19 stands for CO “Corona”, VI “Virus”, D for “Disease” and the 19 because
it existed during 2019’s. This type of Disease originated from Wuhan, China. Coronaviruses
are a large family of zoonotic viruses that cause illness ranging from the common cold to
severe respiratory diseases. Zoonotic means these viruses are able to be transmitted from
animals to humans. It became the world-wide crisis around the universe that greatly affects
people lives and possessions.
This pandemic brings a huge impact in our lives both emotionally and physically.
Emotionally, for a sense that since many workers quit their jobs due to COVID-19 crisis
many people experienced depression, sadness and anxiety. People became emotionally
exhausted about what today has brought to us, and emotionally worried about what tomorrow
will bring. On the other hand, it brings an impact to us physically, in a sense that many
people became sick and also that COVID-19 worsen diseases that existed even before then.
This will then lead to numerous death and suffering. COVID-19 chooses no one. Whether you
may the most powerful man in the universe, or the least appreciated individual in the present.
NO ONE IS EXEMPTED. Even businesses and infrastructures went closed; wherein the
whole community suffers. And the economy is slowly directing downward.
But how does businesses were affected by the COVID-19? Sole Proprietorship,
Partnership or Corporation. Whether it belong to a Blue-Chip companies or Small-Medium
Enterprises (SME’s). Whatever type of business it may be, there is no excuse in this massive
effect of COVID-19 crisis in the business world. Businesses were affected by the COVID-19
in how they operate and how they deal with their business transactions and services. They
were forced to closed down their establishment for a couple of months that leads them to a
huge loss. Workers were terminated or fired, even some of the establishments chose to closed
their business officially. Later after two months, the government decided to bring back the
businesses for the sake of economy but with a new normal standard. Businesses then changed
the way they operate because they are obliged to follow social distancing in their services,
consumers must wear face mask and face shield as a safety precaution. Some businesses shift
business products just to compliment to the basic necessities in this pandemic time. Some
reduce or enhance specific transactions and activities; others chose to reinvest and innovate
themselves. There are also businesses who operates and do business transactions online to be
more accessible and closer to consumer’s platform.
Businesses were greatly affected because it is where our economy lies. As what they
say, if taxes are said to be as the lifeblood of the government, businesses on the other hand is
said to be as the mind of the economy and the community is the heart of the country. The flow
COVID-19, the virus that changes our lives. According to World Health Organization
(WHO), COVID-19 stands for CO “Corona”, VI “Virus”, D for “Disease” and the 19 because
it existed during 2019’s. This type of Disease originated from Wuhan, China. Coronaviruses
are a large family of zoonotic viruses that cause illness ranging from the common cold to
severe respiratory diseases. Zoonotic means these viruses are able to be transmitted from
animals to humans. It became the world-wide crisis around the universe that greatly affects
people lives and possessions.
This pandemic brings a huge impact in our lives both emotionally and physically.
Emotionally, for a sense that since many workers quit their jobs due to COVID-19 crisis
many people experienced depression, sadness and anxiety. People became emotionally
exhausted about what today has brought to us, and emotionally worried about what tomorrow
will bring. On the other hand, it brings an impact to us physically, in a sense that many
people became sick and also that COVID-19 worsen diseases that existed even before then.
This will then lead to numerous death and suffering. COVID-19 chooses no one. Whether you
may the most powerful man in the universe, or the least appreciated individual in the present.
NO ONE IS EXEMPTED. Even businesses and infrastructures went closed; wherein the
whole community suffers. And the economy is slowly directing downward.
But how does businesses were affected by the COVID-19? Sole Proprietorship,
Partnership or Corporation. Whether it belong to a Blue-Chip companies or Small-Medium
Enterprises (SME’s). Whatever type of business it may be, there is no excuse in this massive
effect of COVID-19 crisis in the business world. Businesses were affected by the COVID-19
in how they operate and how they deal with their business transactions and services. They
were forced to closed down their establishment for a couple of months that leads them to a
huge loss. Workers were terminated or fired, even some of the establishments chose to closed
their business officially. Later after two months, the government decided to bring back the
businesses for the sake of economy but with a new normal standard. Businesses then changed
the way they operate because they are obliged to follow social distancing in their services,
consumers must wear face mask and face shield as a safety precaution. Some businesses shift
business products just to compliment to the basic necessities in this pandemic time. Some
reduce or enhance specific transactions and activities; others chose to reinvest and innovate
themselves. There are also businesses who operates and do business transactions online to be
more accessible and closer to consumer’s platform.
Businesses were greatly affected because it is where our economy lies. As what they
say, if taxes are said to be as the lifeblood of the government, businesses on the other hand is
said to be as the mind of the economy and the community is the heart of the country. The flow
