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MSc Management with Streams
Business Research Plan
Student Reference Number (SRN)
Effective Measure Opting by Business in COVID-19 Pandemic
Date ofSubmission (Please attach the confirmation ofany extensionreceived)
Declaration of Original Work: I hereby declare that I have read and understood BPP’s regulations on plagiarism and that this is my original work, researched, undertaken, completed and submitted in accordance with the requirements of BPP Business School. The word count, excluding contents table, bibliography and appendices, is 4284 words. Student Reference Number: BP0230103 Date :24/08/2020
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MSc Management with Streams
Effective measures opting by Businesses in COVID-19 Pandemic
Table of Contents:
Literature Review: 2
Research Aims/Objectives: 7
Research Methodology: 8
Ethical issues: 10
Evaluation of the choices made in the individual research plan: 12
In current situation we are living in a life threat environment where there is no surety of getting infested and becoming ill by a single touch from any from. The new disease which has life threat came from China known as COVID- 19. This disease is contagious and has taken many lives across the world and has also impacted the economy of each and every country as everyone is asked to live inside for some period of time to get control over this disease. There are many companies who have been affected by this pandemic and as well as there are companies who have implemented certain measures whether to be safe or whether to earn profits. This study will focus on those aspects and will give a brief knowledge about what effective measures the businesses are following across the nation.
There are many businesses that got affected by this and there are many other activities taken place many new ideas came up and many other have been flopped due to a long gap by lockdown in the nation. The answer is a New Plan rather than panicking and waits for the situation to come under control.Their main focus should be to protect their business and as well as employees who work for them in this outbreak. The effective measures can be many where companies are developing their exigency plans as soon as possible, some are adjusting with the existing plans to managethe situations, while others are willing to start from the beginning, like the companies are concentrating on mobility of resources, enabling employees to work remotely. Organizations with direct presentation to the COVID-19 episode are refreshing client assignments to improve benefits on close term income or to meet legally binding terms.
While doing the literature review I have come up with certain question like by a business plan in the pandemic is required and what can be done and these questions have been answered by many online sources and journals I have referred. According to many sources like online publishers, newspapers there are various effective measures taken by the businesses and have been followed thoroughly. These measures are typically being discussed below to know the significance of these measures taken by them and understand the importance of those.
“Full and partial city-lockdown measures are bringing demand in key markets to a standstill. The double-shock impact is pushing economic activity down to levels not seen even during the financial crisis,” said by Dubai Chamber in an interview with CNBC news channel with reference to “Impact of Covid-19 on Dubai Business Community.”
The effective measures are been discussed as:
Make a Plan
As corona virus spreads, more companies are setting new goals and making plans to secure their organizations and representatives. This is the main thing a company or organization should do to be ready with the situations of crisis and uncertainties. There should be two one the main one and the other for the backup.
Building up a Work from Home Policy, If Possible
With the rising cases of corona virus in nation, many organizations have opted to work from home which will save their employee and the work will not stop. This is the most effective way of not having loss of work and maintains the heath of employees as well. Just the one thing will be the disadvantage that the companies will lose the connection because the virtual connection thing will never going to compare with the aroma of the face to face connection people have. There will be limited conversation amongst the employee which will lead to further distance among them. But to maintain their safety work from home is the safest option. Just some providing of equipment’s and making sure they do work on time and there the work from home strategy will work.
Update the workers as often as possible
Much the same as chiefs and administrators, you completely need to update your representatives as often as possible, as well. To impart corona virus related news to your workers, you can convey updates or messages or have a compulsory organization meeting (by means of video talk, obviously). Organizations are paying attention to the corona virus spread very and staying up with the latest as much as possible. At present they are attempting to convey an email update or message of any event to the group of employees once every day to impart corona virus to councils and what are the safety measures they are taking to safeguard them.
Reconsider Cleaning Procedures
This next tip is somewhat self-evident, however can’t go unmentioned. That is one have to clean the hell out of the business during this fight with corona virus. Arranging some fun activities and making sure that the working environment is god and secure so the employee don’t panic which makes them realize that they’re in a sheltered situation working and performing well. This additional exertion representative may acknowledge guaranteeing that they remain solid.
Exploit Federal Relief
The corona virus is impacting the business world and the economy as a whole. Be that as it may, there’s no compelling reason to freeze since independent company alleviation is in transfer. The government is scrambling to pass enactment to support independent company and individuals adversely affected by the infection of corona virus. This includesmeasures like:
• Low intrigue administration debacle credits
• An executive charge credit
• Federal annual assessment postponement
Set up a cross-utilitarian reaction group
Business set up a devoted group to guarantee a straightforward yet very much famous set of measures that increase the well-being and security concerns of associates and customers. This group must be directed by any senior level employee or CEO. This group should be separated into 5 particular workrooms:
• Operative the managers and prosperity
• Financial stress-checking and possible arrangement
• Observation of Supply chain management
• Deals and Marketing
• Any different business plan or opportunity
Explicit objectives ought to be sketched out for every one of these works cable cars on a 48-hour and one-week moving calendar. Least feasible items ought to be set up, with a schedule of occasions and achievements that continually look a month and a half ahead. Characterizing situation may be troublesome, however associations are urged to endeavor to perceive trigger variable that will impact salary and cost.
Balance out the flexibly chain
Geographic regions experiencing raised degrees of system progress should be set up, considering in suppliers and stock levels. Put assets into development and system to help distant work and virtual facilitated exertion limits. A pandemic anticipates that agents should stay at home to restrict prologue to prevent or obstruct the spread of the sickness, requiring the authorization of distant working limits. Rather than an irregular atmosphere event, which may induce a couple of agents to work remotely, a pandemic may provoke a complete shutdown of the entire office in a zone, convincing a high number of laborers to work indirectly for a sweeping length. This may hence realize heavier than commonplace traffic on distant accessibility frameworks, causing cutoff and weight get to issues.
Build up a powerful correspondence system
Compelling interchanges during any emergency are critical to keeping up client trust, reestablishing representative resolve and certainty, and holding market strength. While organizations have interchanges methodology and assigned purposes of contact to connect with inside and outer partners, in many cases the informing is conflicting and less than ideal. For organizations that have both retail and corporate clients, steady informing is must. All channels must accommodate furthermore, occasions like pandemic can include another layer of multifaceted nature because of flow of bogus news and stories via web-based networking media. To give firm and convenient venture informing, organizations must set up a powerful interchanges methodology that unmistakably spreads out procedure and conventions to connect with a wide arrangement of partner’s comprehensive of any lawful and jurisdictional thought. For exceptionally controlled enterprises, Pandemics are a genuine reminder for flexibly chain experts and organizations with worldwide tasks to build up a few interchange sourcing and fabricating plans in various locales of the world to alleviate the hazard from such unfavorable conditions.
A portion of the viable measures selecting by business are
• Communicate with workers to bring issues to light, implement approaches and acclimate them with accessible apparatuses and assets
• If pandemic contemplation was not been consolidated into existing development of business and fiasco recuperation techniques or refreshed, begin fast arranging or invigorate of pandemic methodologies and activities
• Perform a quick appraisal of procedures with high manual negotiation and basic outsider conditions, especially in high weak and effected area, to comprehend key hazard, including any point of disappointment.
• Review emergency correspondence plan and assign the point of contact to boost constant commitment with neighborhood, general and universal specialists, and other key inside or outside partners
• Identify potential arrangement exemptions and endorsement plans to oversee such special cases on an accelerated premise in every purview
• Confirm workers have the overbearing capacities, including essential abilities access, including requirements share drives accesses, reports and other basic instruments, to accomplish basic undertakings distantly
• Review applicable working standards methods and instructions and inform them, as vital
• Checking the circumstance and give normal preparation to pioneers on any rising dangers and glitches
• Ask workers to confirm and refresh data of contacts in organization records, as essential
• Preparation of risks with workers to upgrade representative and authoritative readiness to retort adequately
Audit workforce area and travel
The principle objective is to develop absolutely where staffs are what number of workers is in impacted or powerless areas. Clear methodologies should be set up to convey nonattendance due to torment or contemplating relatives the show for visitors to association areas, the framework for uncovering illness, and travel confinements. You moreover ought to envision approaches in the event of length school terminations what will the course of action be for working gatekeepers? There’s in like manner the issue of obligation: If workers are constrained to stay in far off countries longer than foreseen and a short time later become subject to burden assortment, what approaches do you have set up to address this? Taking everything into account to be set up to diligently stimulate and invigorate these methodologies as conditions advance.
Secure your workers
The places for sickness control and anticipation and the WHO are refreshing their rules every now and again. Organizations are making sure that these rules are followed by each and every staff of their organization and to not intrude in raising the infection.
Recognize expected purposes of disappointment
Who are the gatherings and individuals on whom essential systems or organizations depend? Are there workers with the right aptitudes who could step into fundamental employments if essential? Call centers and shared help networks are possibly unprotected if the contamination continues spreading – can steps be taken to reduce the level of human participation, for instance, staggered developments or far away working.
So maintaining all these flaws many companies have come up with many other measures and ideas and many other people have started the business which does not contain any physical touch like online supplies, supply of masks sanitizers and much more. The main measures are been taken by the companies who are working in this pandemic. The companies are into different sectors like servicing, online business etc. They have opted working virtually or it can be termed as work from home or they have maintained some distance if there are working their office by following many other measures. So, by this study we can get the idea of maintaining and managing the risks like these and what are the effective measures taken by the different organizations.
Research objectives are the aims of findings from the research we do for the particular topic. This study focuses on problems and the measures revolve around the businesses or organization during any pandemic like COVID-19 and what can any organization do if any severe problems arise. There are many questions which are to be answered through this study like:
What are problems faced by the organizations in this COVID-19 pandemic?
What will be the business plan of the organizations?
What are the measures are to be taken by the organizations?
What can be done to make the measures effective?
How these are impacting the economy?
How a small mistake can ruin the entire plan?
Is the small sector is highly affected?
What are risk factors?
What more can be done?
Is helping poor will be good?
How to contribute to nation?
What are the pros and Cons?
These are some of the questions arise while thinking of this pandemic and the business plan together. The impact of this pandemic is not small and should not be neglected by any sector in the Business Industry. As per the research I have come up that the small sector has been highly affected by this pandemic and because of low funds they cannot adapt a change or any new business plan. This study focuses on those aspects and deals with the following measures discussed in the literature review. To answer the above question is main aim or objective of this study. This study also focuses on which sector or industry is highly affected and how it can be prevented. The most affected industry in this pandemic is manufacturing industry. Due to lockdown the manufacturing factories have been closed and they can’t even work from home as they have to report the site to continue the work.
This section has its own impact and procedures. It includes various sections and techniques involved in doing any research. It identifies the various techniques involved in this research. This research is basically a qualitative research as it focuses on the effectiveness in terms of measures taken. The quantitative data is not present in this study and it is a qualitative study only. The variables are used from the secondary sources like online publishers, journals, newspapers. None of the primary data is involved as there is no need and everything was available online. In order to gain more knowledge and better insights into the subject of this study I have referred as many as online publishers, journals and newspaper to deliver the best outcome in this research.
The other techniques which is very famous in research methodology – Mckinsey’s 7S is also been considered to evaluate the reliability of the research or study.
Mckinsey 7s model evaluate the 7 s present in the Hard and soft elements of the research respectively.The 7s of Mckinsey are
Strategy: This deals with the business plan for setting and managing a competitive advantage among the contenders in this pandemic.
Structure: This deals with how the company is organized and managing the risks involved
Systems: This deals with the daily activities and procedures, which the employees will follow.
Shared values: These are the measures followed by the organization and make it as a culture for certain period of time.
Style: This deals with styles and procedure opted by the leader to implement the change.
Staff: These are the employees involved in the plan.
Skills: The actual skills and competencies required to maintain a good growth in the business plan during this pandemic.
By using this model this study will focus on every relevant aspect of business plan and the pandemic.
Other than this some of the quantitative information which was available online is that the number of cases in the nation and the companies affected during this pandemic. All the data samples will be discussed in the next section of sampling and this is know that there were many company got affected by this pandemic. 70% of Dubai companies expect to go out of business within six months due to coronavirus pandemic, survey says and done by the CNBC news channel.The workers are been affected the most who were getting there daily wages. All other details are to be delivered and will be mentioned in findings.
In this research the sampling deals with the population as the entire nation and the sample as the organizations who have hit badly by this pandemic. The probability of the sampling is really that the organizations who have hit badly will go underneath as many survey like CNBC survey being told in an article published in newspaper and as well as online. This article told that they surveyed around 1,228 CEOs across a range of months between April 16 and April 22, during the lockdown period which was very strict. Nearly 30% of those were small businesses with less than 20 employees in it. Of the defendants, more than two-thirds saw a moderate-to-high risk of going out of business in the coming six months: 27% said they expected to lose their businesses within the next month, and 43% expect to go out of business within six. This survey also showed that the mostly and badly hit industry was hotels and restaurants as everyone has stopped eating outside and each and every one are staying indoors which means at their homes and none of them used these facilities. Probability of shutting down of these hotels and restaurants are high as there is no income from past few months like from when the cases got raised in the nation. The second most badly hit industry is manufacturing industry as there is no work done from months.
The accessibility for this study was to some extent like online research and journals. It means on secondary information is being delivered by the true and reliable sources. The primary sources is cannot be delivered as there is still the pandemic going on and we cannot take interviews and as the student license permit we cannot research as much as we want. There are even the challenges faced during this study.
The ethical issues or challenges are that there is only the support of secondary information of reliable sources like the CNBC survey and much more. The literature review of this study contains everything which has been taken with the help of sources like PWC Company’s website and its publishers. There is no primary source available as is really tough to handle or and organize such things. The second challenge is that the companies who have opted effective measures are less and gives the limited information of the sources and the measures.
This study of research will we significant in many ways like:
This will give brief knowledge of what is to be done and what not to whenever a pandemic like this happens.
This study can guide anyone who wants to understand the basic concept of business plan and the measures should be taken in the global pandemic.
This study focuses on the effective measures taken in the global pandemic by the various organizations.
This study helps the small sector to lead small amount success in bad times.
The significant and reliable sources can lead anyone to their desired answers with this study.
Deliverables are many from this research like what measures can be taken by the business and what makes them effective. A main step is to take safety measure by the organizations.This is the main thing a company or organization should do to be ready with the situations of crisis and uncertainties. With the rising cases of corona virus in nation, many organizations have opted to work from home which will save their employee and the work will not stop. Just the one thing will be the disadvantage that the companies will lose the connection because the virtual connection thing will never going to compare with the aroma of the face to face connection people have. There will be limited conversation among the employee which will lead to further distance among them. But to maintain their safety work from home is the safest option. Just some providing of equipment’s and making sure they do work on time and there the work from home strategy will work. This additional exertion representative may acknowledge guaranteeing that they remain solid. All channels must accommodate furthermore, occasions like pandemic can include another layer of multifaceted nature because of flow of bogus news and stories via web-based networking media. To give firm and convenient venture informing, organizations must set up a powerful interchanges methodology that unmistakably spreads out procedure and conventions to connect with a wide arrangement of partner’s comprehensive of any lawful and jurisdictional thought. For exceptionally controlled enterprises, for example, budgetary administrations, medicinal services, and force and utilities, organizations ought to decide and follow material government, state and nearby announcing prerequisites and have a procedure set up to tell and draw in with controllers proactively across different purview. Moreover, workers ought to get preparing on the qualities of a pandemic and how pandemic contrast from customary calamities. Ultimately organizations ought to recognize choices if corporate correspondences are concentrated in one area.
Evaluation of the choices made in the individual research plan:
This study is being done for understanding the importance of the pandemic and the measures taken by the companies or organization to regulate the risk involved. This study is also beneficial to understand the importance of business Plan. What is a business plan and what it is necessary for any organization? This question arises in any of the layman’s mind who wants to understand the business and there way of managing everything. The business plan is nothing much a plan of dealing with the clients and customers. But it is only the basic definition of business plan. Business plan consists of many aspects like risk and uncertainties, organizational behavior, goals, future aspects, budgets and many more.
The main motive will be maintaining the risks and uncertainties involved in any business for over a time or for the longer plan. So now the question arrives is what can be the risks involved and whether they have categories? The answer is yes, risks are of many types like financial risk, liquidity risk, insurance risk, sovereign risk, default risk. Financial risk can be known as the monetary risk which involves lack of money, frauds etc. The risk we are going to talk about is the default risk which consists of any uncertainty which is not predictable and which is really hard to manage. In this current time the whole world is facing the life risk including each and every individual in the world. This risk is due to a pandemic called COVID-19. This is the contagious disease and can spread by a single touch and it is not curable easily. So, because of this pandemic each every business is closed as the world is facing the lockdown situation and if there is distance then only an individual cannot be affected. So to maintain these social distances there are many companies and businesses are shutdown. Because of which many businesses are facing the problem like losses, debts, dissolution, layoffs and many other financial problems. So maintaining all these flaws many companies have come up with many other measures and ideas and many other people have started the business which does not contain any physical touch like online supplies, supply of masks sanitizers and much more. The main measures are been taken by the companies who are working in this pandemic. The companies are into different sectors like servicing, online business etc. They have opted working virtually or it can be termed as work from home or they have maintained some distance if there are working their office by following many other measures. So, by this study we can get the idea of maintaining and managing the risks like these and what are the effective measures taken by the different organizations. The literature review may contain the online publishers by many companies, journals, newspapers etc. This is just a brief of this study and later by all the points will be covered and will be clarified by many points considered. There are many points considered of the effective measures taken by many businesses across the nation.
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As this study is based on the effective measures taken for COVID-19 then it is necessary to know the impact of this virus on our nation. According to the recent surveys and the report of WHO, UAE contains 60760 total number of cases from which 54255 have been recovered and 351 died because of this deadly virus.
The second everyone should know and should be aware of the prevention from this deadly virus i.e., Wearing mask, washing the hands on regular basis and immediately after a direct contact, maintaining social distancing and using hand sanitizer.
This is the basic knowledge on COVID-19 which is not included in the research, hence updating in the appendices.
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