COVID-19 Impacts Businesses Worldwide: How Long Will it Take for Businesses to Rebound?
Case Code: BSTR604
Case Length: 17 Pages
Pub Date: 2020
Teaching Note: Available
Themes: Business Crisis Management, COVID-19 Impact on Global Business, Management of the Supply Chain, Risk Assessment of Business
Abstract Case Intro 1 Case Intro 2 Excerpts
"With all businesses and industries throughout the globe in massive chaos, there has been grave economic impact of coronavirus across the sectors from tourism to airline; from entertainment to education; from cruises to cars; from food to fashion and so on. Marketers across industries are trying to redesign their business models…," said Dr Sheetal Jain, Luxe Analytics founder & CEO, on March 23, 2020. The infectious coronavirus disease (COVID-19) caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), was first detected in 2019 in Wuhan, China. It had since spread globally, resulting in the COVID-19 pandemic. As of March 31, 2020, COVID-19 had spread to 204 countries, with about 697,244 confirmed cases and 33,257 confirmed deaths across the world. The US had over 170,000 cases, more than any other nation including China, and healthcare providers and local officials across the nation warned that they faced shortages of critical medical equipment. Western Europe continued to grapple with a severe outbreak – Italy and Spain had a combined total of over 200,000 cases – and the per capita death rate in the European Union was almost nine times the rate in the US...
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