Republic of the Philippines

GABALDON ESSENTIAL ACADEMY INC.

Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

How did Covid-19 mainly affect and gave a huge impact to the
Business Industry in Gabaldon?

A Thesis Proposal Presented to the Faculty of Gabaldon

Essential Academy, Inc., Pantoc Gabaldon, Nueva Ecija,
Philippines, In Partial Fulfillment of the subject Practical
Researh 1

Researchers:

Aprilyn Muncal Camilosa.

ACCOUNTANCY, BUSINESS AND MANANGMENT

March 2023

Chapter 1
THE PROBLEM AND ITS BACKGROUND
This chapter includes the Introduction, Objectives of the Study,
Scope and Delimitation, Conceptual Framework, Significance of
the Study, and the Definition of Terms used.

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

Introduction
There has been a long history of fear of pandemic
outbreaks. The discussion has not focused on whether there will
be an outbreak, but when new outbreaks will happen (Stöhr &
Esveld, 2004). The events leading to influenza pandemics are
recurring biological phenomena and cannot realistically be
prevented. Pandemics seem to occur at 10–50-year intervals as a
result of the emergence of new virus subtypes from virus re-
assortment (Potter, 2001). As the global population increases
and we need to live closer to animals, it is likely that the
transfer of new viruses to the human population will occur even
more frequently. All our society can do is take preventive
measures so that we are able to act quickly once we suspect an
outbreak. We should also make an effort to learn from the
consequences of pandemic outbreaks to prepare our societies for
if—and, more likely, when—this happens again.
As we are in the middle of a pandemic outbreak, it is very
difficult to estimate its long-term effects. Although society
has been hit by several pandemics in the past, it is difficult
to estimate the long-term economic, behavioral, or societal
consequences as these aspects have not been studied to a great
extent in the past. The limited studies that do exist indicate
that the major historical pandemics of the last millennium have
typically been associated with subsequent low returns on assets
(Jorda, Singh, & Taylor, 2020). For a period after a pandemic,
we tend to become less interested in investing and more
interested in saving our capital, resulting in reduced economic
growth. Given the current situation, in which saving capital
means negative returns, it is not at all certain that we will be
as conservative as we have been in the past. Behavioral changes
related to pandemic outbreaks seem to be connected with personal
protection (Funk, Gilad, Watkins, & Jansen, 2009), such as the
use of face masks, rather than general behavior changes. Our
lives, as humans in a modern society, seem to be more centered
around convenience than around worrying about what might happen
in the future.
On a societal level, we seem to be completely unprepared for
large-scale of outbreaks. Our societies are more open than ever;
we rely on the importing of important products, such as food,
energy, and medical equipment, rather than sourcing them from
close to where they are needed; and there are limited efforts to

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

prepare for pandemic outbreaks. The guiding principle of our

society seems to be efficiency and economic gain rather than
safety. This may change after the current outbreak. It is also
important to point out that the principles (e.g. openness and
global trade) on which society is based have lifted a large
number of countries around the globe out of poverty and produced
well-developed economies. It is not unlikely that our societies
will back-off some of them leading to more poverty in the world.
The COVID-19 pandemic outbreak has forced many businesses to
close, leading to an unprecedented disruption of commerce in
most industry sectors. Retailers and brands face many short-term
challenges, such as those related to health and safety, the
supply chain, the workforce, cash flow, consumer demand, sales,
and marketing. However, successfully navigating these challenges
will not guarantee a promising future, or any future at all.
This is because once we get through this pandemic, we will
emerge in a very different world compared to the one before the
outbreak. Many markets, especially in the fields of tourism and
hospitality, no longer exist. All organizational functions are
intended to prioritize and optimize spending or postpone tasks
that will not bring value in the current environment. Companies,
especially start-ups, have implemented an indefinite hiring
freeze. At the same time, online communication, online
entertainment, and online shopping are seeing unprecedented
growth.

Objectives of the Study

1.2.1 General Objective
Generally, this research aims to determine how did Covid-19
mainly affected and had a huge impact on the business industry.

1.2.2 Specific Objectives

Specifically, this study aims:
1. To determine how did Covid-19 mainly affected and had a
huge impact on the business industry.
2. to determine the affected business in terms of:

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

1.1 their incomes and profits

1.2 their stocks that were consume during the outbreak.
3. To determine the differences that happened during and after
of the pandemic outbreak.

Statement of the Problem

The main purpose of this research is to know the affect of
the Covid-19 to the local and foreign business industry. That
will be conducted on the coming interview.

Specifically, to the Hardware Business Owners who experience

this impact to their Business:

1.) What are the things that happen to their businesses during
the pandemic that caused the following?

1.1 Less Profit/Income

1.2 Loss/Closing of the business.
1.3 Psychosocial and companionship to others

2.) What were the outcomes after their decision to their

business?

3.) What activities they should do after doing a right or wrong

decisions?

4.) What is the easiest way to cope up to the decisions that had
been chosen by the to owner to their business?

Significance of the Study

To the owner, this study will help them to identify if their

business is still making a profit or income for their everyday
needs.

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

To the business, this study will help the business to know if

they still fit the society or are they still in the trend to
overcome the short comings.
To staff, this study may help the staff to know if the job
that they have acquired is still ongoing, and whether they will
still be able to continue in this field of work a long time.
To resources, this study will help the resources that give the
raw materials to the business if they should continue giving
supply to the business, will they still be able to pay for the
material that they will consume.
To the consumers, this research will help the consumers to
know what are the differences that happened during and after the
pandemic to the business that they were enjoying before the
pandemic outbreak.

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter shows the related literatures and studies in

both local and foreign regarding to research title: How did
Covid-19 mainly affect and gave a huge impact to the business
industry. This chapter will also provide more information and
statements that will further enlighten the research.

Related Literature

Local literature

According to Puen (2022) Today, businesses in these

industries struggle to stay afloat, with varying lockdown
measures persisting: every fifteen days the Philippine
government announces the quarantine measures for the next
fifteen-day period, announcing the level of restriction of

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

movement, operating capacity, and which industries and sectors

must take a pause, greatly affecting business operations. This
has caused a particularly precarious situation for the
hospitality and tourism industries where capacity limits (a
limit of 50% capacity is imposed in lockdown level 3 for
example, and no in-store customers allowed at all at level 5)
affect much of the revenue flow.

Foreign Literature

According to EU Business School (2021) COVID-19 has had the

most significant impact on businesses in the hospitality and
tourism sectors. Hotels, pubs, restaurants, and clubs
worldwide have been forced to close their doors to guests to
prevent the spread of the virus.

Millions of jobs were cut, many independent companies went

under, and billions of US dollars were lost due to canceled
flights, vacations, and business trips.

In May 2021, the UK announced its traffic light system for

international travel, and though thousands of people have
already taken advantage of it and been on vacation to
countries on the “green list,” it is estimated that
international travel will not return to pre-pandemic levels
until at least 2025.

Related Studies

Local Studies

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

According to Salonga (2020), Big conglomerates may survive

the current economic crash, but micro, small, and medium
enterprises (MSMEs) in the Philippines are taking the hardest
hit financially. According to the latest List of Establishments
from the Philippine Statistics Authority (PSA), there are
998,342 MSMEs in the country, which takes up 99.52% of all local
businesses as of 2018. The lack of consumer demand tests
businesses’ financial capacity to keep their enterprises afloat,
together with trying to support their workforce. Some MSMEs try
their best to match today’s algorithm of demands by offering
online and delivery services. However, lessening of employees is
needed to keep up with their financial demands.

According to an article by CNN Philippines, the government has

already allotted a P120-billion credit guarantee program and
P51-billion wage subsidy programs for micro-businesses. This is
through the Department of Finance together with the Department
of Trade and Industry’s low-interest lending program for small
businesses. These may aid entrepreneurs in maintaining their
financial assets as well as compensating their workers. Salonga
(2020).

Foreign Studies

According to EU Business School (2021) The world’s biggest

stock exchanges, including the FTSE, Dow Jones Industrial
Average, and the Nikkei, were hit hard during the first few

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

months of the pandemic. Since the first vaccine was announced

in November 2020, the major Asian and American stock markets
are back on track, but the British FTSE is still in the red.

However, the impact of COVID-19 upon international business

has not been 100% negative.

Perhaps unsurprisingly, global pharmaceutical companies

involved in developing the vaccine have seen significant rises
in their share prices over the last 12 months. In 2020,
Moderna was by far the biggest beneficiary; its share value
rose by a massive 715.5%, outstripping its nearest competitor,
Novavax, by over 200%.

METHODOLOGY

This chapter presents the method and procedures used in gathering

the study’s data, including the research design, research
material, respondents, data gathering procedure and data
analysis.

3.1 Research Design

The researchers will catechize the huge impact of the pandemic on

the business industry by using a qualitative research design.

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

3.2 Research Material

The materials that will be used in the study is the

administered interview. The interview will consist of five (5)
guided questions that will be ask to the selected senior high
school students in Gabaldon Essential Academy Inc. That has a
family business like grocery to provide a proper survey to the
research.

3.3 Respondents

The research subjects will consist of three (3) selected

hardware business owner that is actively open during the
pandemic. To know their experiences and what happen in their
business during those times.

3.4 Data Gathering

To gather and collect the data that will be the answer to

the questions and the study’s objective, the researchers will be
interviewing the respondents face-to face. This will be
accomplished by asking open-ended questions and by using verbal

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 Republic of the Philippines
GABALDON ESSENTIAL ACADEMY INC.
Pantoc, Gabaldon, Nueva Ecija
VALUES AND LANGUAGE SCHOOL

communication with written forms to collect the data from the

respondents. To determine the current acquisition skills that
they have learned while running their hardware business during
the pandemic.

Data Analysis

The researcher will read and understand the answer to the

questions that the respondent has given during the interview to
implement the right understanding on what really is in the minds
of the respondents.

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