Current Scenario Of Corona Vid-19 Global Breakout

Submitted By Muhammad Abuzar Ali (13092)

Submitted To Mrs. Javeria Hassan
Class MBA 6 (Morning)
Title Economic Outlook

Subject CITBW
Submission Date June 19,2020

Faculty Of Management Sciences

National University of Modern Languages

Islamabad
 Power of knowledge

Introduction
In the years of 2019 and 2020 the world is facing the worst pandemic in history that is covid-19
outbreak. No one really knows what is going to happen and how are all of us going to get out of
this safely. But the worst scenario can be if we create a panic and that’s not an option. We should
have the proper knowledge about it and how to cope up with all if this together. Some important
questions about knowledge need to be addressed.

1. What power resides in knowledge?

What really is knowledge? Knowledge is something that can help people make the right
decisions, it is like light weightless and intangible but if a person really know how to acquire the
right kind of knowledge he can cope up with a lot of challenges. Knowledge is something that
can clearly differentiate poor countries from rich or first world countries. It means knowledge
really is power full. It can make or break a nation’s economy. With proper knowledge in hand
countries can build up their markets more easily and make their countries more economically
stable.

2. What are different sorts of knowledge and types of problems associated with
it that are critical for developed and undeveloped countries to over the
menace of covid-19?
There are two types of knowledge that are important for developing countries to acquire to tackle
out their problems

 Knowledge about technologies: the basic technical knowhow that underdeveloped

countries lack for example birth control, software engineering, accountancy and so
on.
 Knowledge about attributes: when we do not have enough information and lack of
information such as the quality of a product, the diligence of a worker and so on and
this is also one of the problems for underdeveloped countries.
 Recover from menace of Covid-19: the current situation faced by countries also
require the right kind of knowledge. Countries should have the right information from
their respected governments, WHO and other health organizations.
3. How knowledge gaps can be narrowed down and information problems can
be addressed in this regard?

The information gap needs to be narrowed down for developing countries so that they can
save their economies but this is no easy task. The third world countries do not have capacity
to create knowledge and they can narrow this down by examining three critical steps.
 Acquiring knowledge: to get knowledge from an external source or create your own
by proper research and development such an during this pandemic getting the right
information from WHO.
 Absorbing knowledge: to educate ourselves but providing different kind of learning
activates. Proving educations on new topics
 Communicating knowledge: to take advantage of new information and use it i.e.
different ads to protect ourselves from the virus, how to wash hands properly. What
distance to maintain and so on.

4. How knowledge transfer can help nations in current times?

In the current times nations need not to create panic among their people and provide and transfer
such kind of information that is right and relevant. The research being down by people need to be
properly communicated to people so that they remain calm. For example of a drug is being tested
and it is working on patients this should be communicated so that people get a sense of hope that
this is not as bad as it seems and we can get out of this together.