Impact of COVID-19 on Economy, Business, Education and Social Life. Volume: 5, Editor: Surjit Singha

Globalization and technological advances have the immense power to create a new economy, address sustainability concerns, and facilitate societal changes. In addition, the COVID-19 pandemic has led to notable modifications in the world economy and society that require adjustments to business models, as well as our way of life. It is critical to understand these new models in our changing society for businesses to not only survive, but to thrive. COVID-19 Pandemic Impact on New Economy Development and Societal Change provides an updated view of the newest trends, novel practices, and latest tendencies concerning the manner of shaping the new economy and accelerating societal change, demonstrating the crucial importance of rethinking the world’s models, priorities, and strategies while seeking a more responsible path for humanity. Covering topics such as tourism and salesmanship skills, this publication is ideal for academicians, researchers, scientists, scholars, practitioners, industry professionals, consultants, instructors, and students.

The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement. With contributions from leading researchers, each Handbook presents an accurate, self-contained survey of the current state of the topic under examination. These surveys summarize the most recent discussions in journals, and elucidate new developments. Although original material is also included, the main aim of this series is the provision of comprehensive and accessible surveys. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys

Globalization, Political Economy, Business and Society in Pandemic Times contributes to the growing literature on COVID-19 through a multidisciplinary approach by helping build a holistic understanding of the impact of the COVID-19 pandemic on politics, economies, business, and society in a globalized world.

The contributions in this book demonstrate that the Covid-19 pandemic has led to negative socioeconomic impacts, put a tremendous strain on social institutions in many countries, and changed the lives of people around the world. Society, economy, business companies, management structures of companies, consumption habits of society, education, and health sector have been significantly affected by the Covid-19 pandemic. Some of these effects are thought to be permanent even after the pandemic subsides. It is obvious that the process of digitization will continue in making a consumer’s life more comfortable and safer. Some researchers estimate that approximately 60 percent of companies plan to let their employees continue working remotely from home offices in the post-pandemic period. Many experts emphasize that online shopping, which increased rapidly during the pandemic period, will continue to dominate after the pandemic. Therefore, the social effects of the Covid-19 pandemic will be the subject of many academic studies today and in the future.

Impact of COVID-19 on Economy, Business, Education and Social Life, Editor: Surjit Singha, ABOUT THE BOOK: The purpose of the book is to provide a platform for academicians, scholars, social scientists, and students to introspect the Impact of COVID-19 on Economy, Business, Education and Social Life. This book is a collaborative effort of 22 scholars from across the globe, who has systematically studied various impact of the COVID-19. Author (s): Kalai Selvan Arumugham, Cassandra Ranee, Manu Vasudevan UNNI, Dr Raja Kamal Ch, Kevichalhou Virie, Dr Anurag Upadhyay, Lourdunathan F, Dr Swati SaxenaXavier P, Ajith P Mathews, Jasno Elizabeth John, CA Annie Stephen, Junitta Stephen, Kalyani V, Praveen Babu P, Retheesh P TSagar R, Litty Mariyam Kunju, Bijin Philip, Aasha, Gokilavani S, Ranjit Singha

PREFACE The world is now ready to enter a second wave of Coronavirus and several lockdowns. What a year ago seemed too far and like a fairytale, is now a reality and a nightmare all over the world. On March 11, 2020 the World Health Organization (WHO) declared the Coronavirus disease (a.k.a Covid- 19) a pandemic as it spread in a short time all over the world. The Coronavirus disease has already affected life in many countries. In the long term, it is predicted that it will bring about changes that are quite likely to be permanent. Along with the measures taken on prevention and control of the spread of the outbreak; international supply chains, supply- demand balance, consumer and producer behavior, business methods, working models, education methods and daily life are changing. The concern for all countries needs to be researched in different aspects. The Covid- 19 crisis has caused considerable damage in every aspect of life. We believe that different socio- economic aspects need to be discussed by scholars involved in academia and people who are interested in contributing to this new topic the world is facing. This book comprises nine chapters including topics related to several impacts and challenges that Covid- 19 brought about on economy, education, social life, trade, geopolitical relations, and what is more important on our health care systems. We realize that this editorial book will lead a way to policy makers, implementers, researchers, students and those who are interested in learning more about Covid- 19 impacts all over the world. We hope and believe that it will be widely read As Socrates said: “The secret of change is to focus all of your energy, not on fighting the old, but on building the new”. Now, it’s our turn to focus on our new normal, new reality and we are all in this together

On March 12th 2020, World Health Organization (WHO) declared the spreading of the new virus, 2019-nCoV, a pandemic. In Asia, the virus, more commonly referred to as COVID-19, has been spreading since the end of December. To contain the public health threat, almost all countries enforced a variety of measures, including lockdowns, to minimize face-to-face human interactions between the infected and the susceptible.While these vigilant measures save lives, they also generate a substantial negative economic shock that immediately halts demand and significantly disrupts supply, global production value chain and trade. The consequences are dire — considerable decline in output, massive surge in unemployment, countless bankruptcy cases, and unrelentless worries over financial stability. The result, a worldwide economic setback, is more severe than that experienced during the Great Financial Crisis of 2008-2009.Asia's experiences with COVID-19 precede that in the West. This fortuitous timing allows Asia to share its learnings drawn from experiences to benefit the world.The Asian Bureau of Finance and Economic Research's (ABFER) community has gathered a collection of insights to inform the public. Besides providing access to research on the pandemic conducted in Asia, these commentaries offer comprehensive information on the effects of the pandemic, the effectiveness of measures employed to contain it and the subsequent economic impacts from such implementation. With granular analyses of government policies and their associated economic rescue packages, these commentaries elucidate the hard trade-offs between public health protection and economic security. Finally, the commentaries address the broader impact of the pandemic on international trade, global value chains and society.

This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.