Page 1

Challenges in governance and economic recovery

by
Kalpana Devi
Student Id : s5314083

Course code+name
Business and Government (7002GIR 3228)

Professor’s name
Hui Feng

University Name
Griffith University Gold coast,
Queensland

Date of submission

06-02-2023
 Page 2

Contents
Introduction......................................................................................................................................3

Social and Industrial Interactions.....................................................................................................4

Marketing & Sales...........................................................................................................................6

Supply chain management...............................................................................................................7

Technology......................................................................................................................................7

Country examples to illustrate such challenges are handled...........................................................8

United States................................................................................................................................8

China............................................................................................................................................9

Germany.......................................................................................................................................9

Conclusion.......................................................................................................................................9

Reference.......................................................................................................................................11
 Page 3

Introduction
Many numbers of industries have experienced the difficulty of said COVID-19
epidemic. Several of these firms are under intense pressure to produce their wares and are being
compelled to adopt free workplaces. Companies have seen substantial change or swiftly
embraced ideas that use digital technologies. Updated management structures are essential to
ensure no employee gets left out of a company's lifecycle. As per Becker, effective cooperation
during this COVID-19 age depends on involving every group member in the organization's most
pressing concerns.

That attempt to drive innovation or blend human or computer activities is known as

digitalization. New production techniques, creative business structures, and wise goods and
services are all required. Although digitization is not a new trend, its benefits and difficulties
always evolve. That fourth digital advancement is linked here to ideas that commerce, the web of
things (IoT), especially the web, was primarily the focus of the issues concerning digital
transformations before such founding as COVID-19. The quick pace of this progression and the
dispersion of various concepts as technology were challenges. All parties and the firm must be
included in this process since the issues of the COVID-19 era have become obvious.
Additionally, this transition took place at a rapid pace. Businesses must do this, regardless of
their current position or experience with digitalization operations (Almeida, Santos, and
Monteiro, 2020.).

Businesses are required to convert into digital businesses. Your main concern is whether
or not consumers have ready for such a transformation. Research shows that organizations, even
those who have made the most progress in the digitalization of their processes, still need to fully
prepare to tackle the issues posed by this change (Mohammed, A., Almousa, Ghaithan, and
Hadidi, 2021). Innovation requires reordering operations, making the firm more nimble,
engaging in much more primary metabolites, and boosting uniformity with technology to
enhance its ability to react to customers. The difficult and unpredictable times of COVID-19
have accelerated the inevitable stages of cloud adoption. This study intends to investigate the
possibilities for and challenges that corporations may experience as a function of the digitization
of their operations. Taking into account three key areas of its activity:
 Page 4

i) Employment and interpersonal relationships

ii) Selling and advertising

iii) Innovation

And those areas have been chosen because of the significant impact which Forbids and
anticipated COVID-19 would have on business activity. The action research methodology is
used to comprehend the difficulties that COVID-19 poses to these three crucial regions.

Social and Industrial Interactions

Significant developments have occurred since COVID-19 for both social and later
worker interactions. Even during confinement, people had to become used to remote work and
sharing a smaller space with their homes. Residence offices become hybrid spaces where
household and professional activities are shared (Ten Cate, 2018.). Human careers are greatly
impacted by the prospect of having their salary reduced or losing their job. Considering
projections, COVID-19 might result in the loss of employment for 60 million Europeans or a
reduction in their monthly payments. The whole state of affairs reflects a social and economic
drama.

These political the social changes of COVID-19 have accelerated the stages of digital
change while also widening the divide among social strata. Both businesses and individuals
employ different talents to address the difficulties of digitization. The distinctive qualities of
each wealth creation determine the extent of the dematerialization of activities and services
(Redding and Turner, 2015). Enterprises, particularly micro firms, and those engaged in
adversely affected COVID-19 industries (such as restaurants and the tourist sector) would
undoubtedly suffer serious consequences.
 Page 5

This COVID-19-mandated quick but random digitalization strategy renders it

challenging for businesses to get the skills they ought to confront tomorrow. Maresova et al.
emphasize the importance of sectors in determining the global economy, but individuals and
their skills will continue to be the driving force behind commerce. Because of this, digitalization
cannot be able to operate in tandem with both government and private tactics for the e-commerce
of schooling, as well as the level of the domain of research also that whole has to exhibit in
information and communications technologies and within the coaching of extremely targeted
people inside this fields of technology. These logically lead to the idea that only a robust
dedication to digital needs does not necessarily mean less spending for people management. As a
substitute, it's critical that hire & develop the skills for the best-equipped people who can satisfy
all changing requirements of the electronic society (Valenduc and Vendramin, 2016). A need can
lead to changes within teaching programs available at various educational levels, including the
organization of present schools and the addition of new short studies. While ignoring where to
handle conflicts and other ethical obstacles that employees should face in the post-COVID-19
era, such programs must provide learners with intensely focused skills in a range of subjects,
especially computing.

To not even mention, the surge in personnel has contributed to the changes caused by
metropolitan areas, albeit through a mixed strategy. Globalization has badly impacted the
 Page 6

economic element, which may benefit. Because not all individuals would need to live in or close
to a city, there will be less pollution the locals' quality of life will improve. This can happen
without differences in the digitization process, especially in data accessibility links, that could
cause electronic divides across areas. Additionally, in the years following COVID-19,
technology should assist in enhancing regions that are currently economically undeveloped and
excluded, assisting in reducing regional inequities in the process (Milanovic and Roemer, 2016).

Marketing & Sales

Modern technology has altered how businesses do their daily business, presenting new
potential. Then again, transforming whole sectors created new markets for novel items and
dematerialized previously sold goods. Gabe et al. claim that this degree of economic
digitalization calls for offering customized commodities at significantly reduced costs. Due to
advancements in technology or the prominence of the Internet in daily life, virtual goods are
becoming a more practical alternative to actual ones (Rainie and Wellman, 2019). They offer
great mobility as they are accessible from everywhere and can be watched and digested. Such
services and products include, among others, applications, and e-books, including video.

Due to trip bans or business failure caused by the COVID-19 pandemic, internet sales
greatly soared. It's a possibility here that group will expand. Leveraging equity of systems should
enable enterprises to reduce many constant expenditures considerably, claim Kunder et al. These
newer folks may simultaneously create their unique technology-era habits for consuming
services and products.

These modern electronic tools and services' flexibility should decide whether broadly
these were adopted. In this regard, giving customers models or solutions adaptable to their
demands speeds up the purchasing process. Every company has a variety of hiring systems.
However, it is projected that sometime in the next, customers will favor companies that provide
them with the top choice to pick and subcontract their service or item without using a real or
workers intermediary. Elimination would be the primary method for satisfying customers, but the
link is crucial in both the rational utilization of knowledge and the streamlining of such clients.

Introducing new products into business operations also increases customer retention, but it
also raises brand exposure on a worldwide level. Thanks to high-speed data transmission and our
 Page 7

expertise, tools enable companies to set up operations in any part of the world. In light of this,
there will be a considerable shift in how to transact with governmental services provided by both
the federal and local municipalities (De Reuver, Srensen, and Basole, 2018).

Supply chain management

Logistics is under much stress to safeguard the success of firms operating in e-commerce
from accepting items mostly from production to sustain sales (Yan et al., 2018). Its integration
and mechanization among these different parties (seller and distributor), internet marketplaces
that assist the seller in successfully negotiating the lowest price and the purchase of our services,
may symbolize the first most pressing need in connection to the development of new theories.

Technology
Major parts of projects towards digitization are indeed the individuals involved as well as
the funds allocated towards them. Any transition to digitalization is dependent on technology.
According to several developments, several industries, including enterprises, have all seen
digitalization, and in the post-COVID-19 future, these tools will be even more significant.

Such a collection comprising real objects outfitted by equipment and software will
greatly attribute information flow, and activity is often known as the Digital Economy (IoT).
This IoT application could be advantageous in private, social, or capital management. Internet
does have the potential to disrupt corporate realities, provide major strategic advantages, or
provide customers with more cutting-edge products and high-quality products, claims Cherry.
This accessibility of records allows the Internet to fundamentally alter the overall perception of
such actions via the tracking and analysis of all actions, carrying a lot of major advantages plus a
more precise and comprehensive picture of both the company (Xianchun, 2014.).

New techniques are required to analyze the enormous volumes of information finalized
and generated as a technology Internet improvement and an extra layer more material that
organizations could obtain. Big Data is a term that could be used to characterize an enormous
amount of data. Still, it requires certain methods to properly keep, retrieve, organize, etc., and
transform it into information that can be rapidly and widely examined. Recent progress in recent
years of such the emergence of more sophisticated algorithms, improvements like computing
power and storage, and the ability to cheaply and precisely gather huge data. After COVID-19,
 Page 8

their significant growth in several metadata seems predicted; thus, adopting big data strategies
with knowledge could become an important overall business. Inside a major shift when big data
was crucial toward a firm's success over an expanding variety of industries, major change within
the big data mindset seems like a feature towards establishing a competitive advantage. Big data
applications are anticipated to increase dramatically but at times, through evaluating client data,
predicting purchases for goods or services, tracking buying habits in both physical and virtual
settings, also identify threats (Bubukayr and Almaiah, 2021).

While digitalization enters economies, those threats increase. Protecting online and
preventing incidents, harmful programs, and misuse is necessary. Yet, malicious or accidental
incidents are rising dramatically, endangering businesses helping firms and public utilities (e.g.,
water, electricity, health). As per Gomes, three broad categories of privacy problems prohibit
firms from effectively employing innovation:

i) unawareness or consciousness behind the issue

ii) difficult situations emerge where legacy technology coexists with cutting-edge
technology

iii) Recognition nor lack thereof underlying the problem

Country examples to illustrate such challenges are handled

I can, however, give some instances of how certain nations have handled these difficulties
in the context of their government-business relationships.

United States

The American government's early reaction to the outbreak was condemned harshly for
being delayed and lacking cooperation between state and federal agencies (Breger and Edles,
2000.). In addition, finally, the government has come under fire for handling the economic
growth, with many small firms finding it difficult to access the government's financial aid.
However, the government has also implemented several initiatives to aid companies, such as the
Downtown Banking Project and the Salary Artificial Immune.
 Page 9

China

The government of China's reaction to the epidemic has been distinguished by its prompt
and forceful action, which has assisted in containing the virus's spread. The state has also
implemented several policies to help firms, including tax breaks and funding for micro and
small-scale businesses (Agbolade Obasan, 2014). The Chinese government has also invested
significant investments in public works and infrastructure to promote economic growth.

Germany

Germany's government has received plaudits for its prompt and efficient reaction to the
epidemic, which has contributed to maintaining the nation's economy's largely stable state. The
government has also implemented several policies to help firms, such as the Kurzarbeit (short-
time work) plan, which enables enterprises to cut back on employee hours in exchange for
government funding. The German government has also given small and medium-sized
businesses (SMEs) financial support to help them withstand the economic crisis (Uutela, 2010).

Conclusion
COVID-19 has accelerated this cycle, increasing overall consequences and the speed of
technical innovation within businesses. Companies need to promote another more service-
oriented attitude that incorporates all employees in this process to fix this problem. COVID-19
effectively sped up the modern online market activities inside firms, both individuals including
public entities. That enormous task for leaders becomes to take part in this change while trying to
maintain business operations elsewhere in a context like an uncharted but bleak future. This
interconnectedness should also be recognized, including the three central ideas of labor, price,
etc., and innovation. Like a function rising firm digitalization, its importance given to that
industry's mobile channels, both selling and marketing should increase. Timewise and software
utilization would be encouraged when more people interact through a mix of social media
accessible anytime instead of merely inside the locations like your offices and residences.
Page 10
 Page 11

Reference

Agbolade Obasan, K., 2014. The impact of business environment on the survival of small scale
businesses in Nigeria. International Journal of Management and Business
Research, 4(3), pp.165-170.

Almeida, F., Santos, J.D. and Monteiro, J.A., 2020. The challenges and opportunities in the
digitalization of companies in a post-COVID-19 World. IEEE Engineering Management
Review, 48(3), pp.97-103.

Breger, M.J. and Edles, G.J., 2000. They were established by practice: the theory and operation
of independent federal agencies. Admin. L. Rev., 52, p.1111.

Bubukayr, M.A.S. and Almaiah, M.A., 2021, July. Cybersecurity concerns in smartphones and
applications: A survey. In 2021 international conference on information technology
(ICIT) (pp. 725-731). IEEE.

Cline, K.D., 2000. Defining the implementation problem: organizational management versus
cooperation. Journal of Public Administration Research and Theory, 10(3), pp.551-572.

De Reuver, M., Sørensen, C. and Basole, R.C., 2018. The digital platform: a research
agenda. Journal of information technology, 33(2), pp.124-135.

Milanovic, B. and Roemer, J.E., 2016. Interaction of global and national income
inequalities. Journal of Globalization and Development, 7(1), pp.109-115.

Mohammed, A., Almousa, A., Ghaithan, A., and Hadidi, L.A., 2021. The role of blockchain in
improving the processes and workflows in construction projects. Applied
Sciences, 11(19), p.8835.

Rainie, L. and Wellman, B., 2019. The Internet in daily life. Society and the Internet: how
information and communication networks are changing our lives, p.27.

Redding, S.J. and Turner, M.A., 2015. Transportation costs and the spatial organization of
economic activity. Handbook of regional and urban economics, 5, pp.1339-1398.
 Page 12

Ten Cate, O., 2018. A primer on entrustable professional activities. Korean journal of medical
education, 30(1), p.1.

Uutela, A., 2010. Economic crisis and mental health. Current opinion in psychiatry, 23(2),
pp.127-130.

Valenduc, G. and Vendramin, P., 2016. Work in the digital economy: sorting the old from the
new (Vol. 3). Brussels: European Trade Union Institute.

Xianchun, X., 2014. An accurate understanding of china’s income, consumption, and

investment. Social Sciences in China, 35(1), pp.21-43.

Yan, Y., Zhao, R. and Liu, Z., 2018. Strategic introduction of the marketplace channel under
spillovers from online to offline sales. European Journal of Operational
Research, 267(1), pp.65-77.