QUESTION:

Through your observation/ research articles (from internet) how do global competition
as well as global pandemic affects the production and operations of business firms in your
hometown?

ANSWER:

The outbreak of COVID-19 highlights cracks in global trust, the pitfalls of global
interdependency and the challenge for global governance. By now there is no doubt the
economic impact of COVID-19 will be massive. Currently that the seriousness of the pandemic
has hit home, there are known losses in some industries: airlines worldwide are expected to
lose billions of money, with some smaller players being forced out of business by reduced
demand. Other low-margin industries, like restaurants or the travel industry, are likewise
already sustaining major losses. And most of workers are affected by the pandemic; many will
either choose to stay home or will be forced to. In some countries, self-isolation measures are
elective. In other regions that are more severely affected, the government may require workers
in non-essential industries to not break isolation measures. And with that global pandemic
really destroy the circulation and operation of most of the business firms. Like for example
those businesses like fast food chain, we all know that most of the people like me are fun of
eating in fast food. In today’s new normal situation the operation of this kind of restaurant is
limited only upon considering the preemptive measure of the government. Moreover not just
only a fast food chain is most affected in this kind of situation that we are facing right now.
Some industries like factory workers and other service industries that circulate to our economy.
Their workers are also limited and almost 50 percent of them could work and that is for their
safety. Furthermore in considering the limited workforce we should expect that the production
in all industries cannot supply the demand needed by the people. And yet the economy of our
hometown will fall as to its lowest point.