During the pandemic many businesses opted for a work from home operations.

Right now,
many companies are forcing their employees to return or face consequences while others see
this as a long-term way of running their business. In your opinion, what will the challenges be
to use the work from home policy in the longer term?

When the pandemic started the drastical change we got to see is working from home,
when this concept was floated upon at the pre-pandemic stage people were excited to sit
in their comfortable homes and work, who wouldn’t like to sit in their room and work
instead of rushing to office on daily basis and working for 8-9 hours. Work from home
model has lot of its perks to the companies and its employees too, like the companies
were saving a fortune and the employees sitting at home, in their own shifts could work
accordingly but later gradually most of the employees after a certain point of time, were
eagerly waiting to go back to the office and into their corporate life when we consider the
model of WFH for companies in a long term , they are many challenges and consequences
to it, so I would like to point out factors that will have a greater impact to The New
Normal in the corporate world in the long run.

Lack of Community Bonding and Team Work: I really do understand that most of
the employees are quite excited about the WFH concept but when you see it this way of
sitting alone in front of a laptop screen secluded with no social interactions will in the
future make you feel lot alone, I do understand that the productivity might go up because
when you are alone, but team bonding, face to face interactions, team meetings and team
work are equally important to keep you up running, gradually if the WFH model is used
for a long term then this will be an important challenge to be tackled to keep the social
interactions going even if its through Zoom or Microsoft teams.

Demotivation: Motivation is something that drives people, switches them on take them
to goals, when you are in a secluded room sooner or later you tend to lose motivation and
not feel like working which will in turn effect the productivity, when you are in a office
you have the sense of competition, working with people to beat the deadlines, talking to
seniors or colleagues when you feel down about work this is what keeps employees
motivated and it is very important.

Unmonitored Performance and Frequent Breaks: when you recruit a new hire
under the WFH model his work progress is unmonitored because he is on his own when
he/she is working, and a mistake can sometimes make a lot of damage on different levels.
Even current employees if not monitored can take long and frequent breaks which will in
turn increase the non-productive hours, so they should be monitored to keep all this in
check in the perspective of the firm.

Lack of Office equipment and security: when you are working in a company, you
need to access secure office files for the data which are very confidential and cannot be
out in open, so when you are working from home its really difficult to access these files
and you need remote access to get them, if you are in office its all one secure network
where you can get them easily. Office equipment has a specific configuration to work, so
we also need that so at times it might get difficult on these terms.
Distractions and Good work environment: when you are working from your room
in your house you will at a certain point of time in a day have distractions, let it be your
family, your dog, friends, or the web series we left unwatched the previous night. Then it
will be very difficult to concentrate and work which will affect your productivity. The
office environment helps a lot and minimise these distractions up till a point.

Burnout: the productivity of companies have gone high from the time employees started
working from home, but most of the employees are not able to differentiate between
their personal and professional life and burning themselves out working to keep up with
the deadlines. Hybrid life doesn’t work for everyone, and people get over stressed with
work in this case.

Globalization has been under severe criticism in recent times for various reasons from the
environmental damage to the current supply issues and also because of unethical practices
in certain parts of the world. What is your opinion on the future of globalization?

Globalization is the term used to describe the growing interdependence of the world’s culture,
technologies, economies, people which is brought about by cross border trade in goods,
services, technology and flow of investment and information. Like every coin has two sides
to it, something so big as Globalization has both advantages and disadvantages. Globalization
has become a bridge to different countries regarding different sectors and issues. I would like
to discuss how can globalization impact the near future and make a difference in every
person’s lives.
 Globalization has a made a lot of difference in the pandemic era, the major example
how the globalization had contributed to the human race was in making Covid-19
vaccine which was the need of the hour for all of the humanity, all of the world got
together, shared ideas made different vaccines and supplied vaccines to
underdeveloped countries and helping them out of the pandemic stage which was
really needed.
 Supply of required pharmaceuticals, oxygen tanks, covid test kits from all over the
world to where it was needed, this is the trade chain that the Globalization has setup
for us.
 The supply of technology and technical ideas all over the world to make all the parts
of the digitized, it does have a great impact on every individual’s lives, imagine living
a day with the mobile and internet, we are at a level that we can get any technology
we need from any part of the world within no time, this technical advent caused and
will see more to it in the near future.
 Eradicating poverty is also the basic agenda of Globalization. Globalization provides
us with a lot of opportunities let it be skilled labor or unskilled labor which will try
reducing or eliminating the lines of poverty all over the world, someday the hope is
not to see any poverty and all the countries above the poverty level and this is a true
factor to getting to achieve that.
  Globalization also helps in geo-political issues all over the world, as we say the power
cannot be harnessed at one place, every country is equally strong politically so any
world political can be discussed and solved by these means and keeping up the world
peace intact.
 Purchase and sale of warfare and military equipment all over the world keeping the
safety and strengthening armed forces.

The Production Possibilities frontier (PPF) gives an indication of the output possibilities and
combination of goods and services an economy can produce. Explain the measures needed
to increase the potential maximum amount of goods and services an economy can produce.

The Production Possibilities Frontier is a curve that shows the varying amount of two
products or commodities that can be produced using finite number of resources available at
that point of time. PPF also shows the point in which a country’s economy is at its most
efficient producing goods and services by properly allocating resources. In life one cannot all
of everything he needs, there is always a choice to make to choose more of something and
less or nothing of something that is the exact concept of PPF, but this is considered over a
large scale in case of a society and countries all over the world. PPF also considers costs,
preferences, and location these factors do come into play whenever we pick a commodity or
a product. I would like to discuss an example picking two commodities in a country like India
and United States of America and the commodities be Room Heater and Room Air
conditioner and both the countries have equal and finite resources. They can only produce
50 million units with the resources they have. Depending on the location and preference,
conditions USA being a cold country would choose to produce 48 million of heaters and 2
million of AC’S but whereas India which has different climates and people do not prefer
heaters would produce 40 million of AC’s and 10 million of heaters.
The measures needed by an economy or a country to increase the potential maximum
amount of goods and services are:

 Increase in Capital Goods: It means increasing the Capital investment. Adding

capital goods to the economy will tends to increase productivity of labor, new
and better tools to work with which means the workers can produce more
output per time period. Two things are crucial over here that someone must
first engage in some form of saving in order free up the resources for creating
new capital, the new capital must be put in the right place, right time in a
right way to maximize the potential of production of goods and services.
 Growth in Technological Development: Improved and Advanced
technological developments help to take the production up a notch as the
plant becomes very efficient by increasing the output in a lesser period of
time and also reduces wastage caused during production of commodities and
proper technology helps you give proper consumer service where the
important end factor is the consumer satisfaction.
 Grow the Labor Force: increasing the labor force inevitably increases the
quantity of production that must be consumed to pay for the new workers'
basic subsistence, thus the new workers must be productive enough to offset
this and not be net consumers. In order to achieve their productive potential,
 the correct type of employees must flow to the right positions in the right
locales in combination with the right types of complementary capital
products, just as it does with capital additions.
 Increase in Human Capital: Increases in human capital is the final method.
This means that laborers improve their craft abilities and productivity
through skill training, trial and error, or just more practice. The most
consistent and readily managed ways are savings, investment, and
specialization. In this context, human capital can also refer to social and
institutional capital; behavioral tendencies toward greater social trust and
reciprocity, as well as political or economic innovations such as improved
property rights protections, are all examples of human capital that can boost
the economy's productivity.

Reference: https://www.investopedia.com/terms/e/economicgrowth.asp