Topic 7 – Study of Coronavirus and Global Business by scanning the environment Points The assignment is worth 80 points – 13.33% of your grade. Length Requirement The paper will be seven pages long, at least 2,000 words. On the last page, you will consider what you have learned from the Global Business textbook and your research for your paper and write your view of what the long-term impact will be on Global Business. On this last page, you can take creative viewpoints. I would like for you to use creative thinking and reasoning about the worldwide situation and business. Format Requirement The paper should be in APA (6th edition format), double-spaced, Font size 12 You are required to use three sources. You will have in-text citations and references at the end. Refer to Cite This For Me – Harvard – https://www.citethisforme.com/ (Links to an external site.) Possible sources, our textbook, articles, or news stories from reputable news sources, books. Foreign newspapers (links to an external site) – https://www.thebigproject.co.uk/news/#.XnziQnJ7mUn The paper should be no less than 2,000 words, which comes to about seven pages, double-spaced. You will lose points if the paper does not meet this minimum word requirement. Your name must be on the paper, or I will take off points. Grammar counts. PAPER TOPIC How has the coronavirus impacted global business? It will help to narrow your topic. Here are some topic ideas you might research. Remember, we are interested in global business, doing transactions in more than one country. Pick an industry – Automotive, Medical, Religious, are some examples. Labor and Trade – Millions of people worldwide are in lockdown; how has this affected the labor market. In the US, 3.28 million people filed for unemployment the week of March 23, and the week of March 30, 6.6 million people in the US filed for unemployment. In January 2020, the unemployment rate was 3.5%. We are expected to reach 20% unemployment, according to some economists. Supply Chain – With labor shortages, how is the global business dealing with supply chains. What other issues are they facing? How does a worldwide lockdown affect brick-n-mortal retail? Some of our most prominent business in the world was born out of the great depression in the 1930s. Do you see any signs of new companies that may develop due to the virus? For example, will people be more social, or will people move more of their lives into a virtual world? o https://money.cnn.com/galleries/2009/smallbusiness/0901/gallery.founded_in_a_recession.smb/5.html (Links to an external site.) o https://www.mentalfloss.com/article/20837/5-great-depression-success-stories (Links to an external site.) Environmental Scanning A PowerPoint Presentation on Environmental Scanning is attached here in Topic 7. Please review the PowerPoint. Ideas for topics on this paper are at the end of the document. Environmental scanning is a consideration in conducting your research. For example, before the virus, climate change was a hot topic. This would be a topic that businesses need to scan to see how it might impact their services or products. It might just be the social movement aspect of climate change that affects some businesses, such as millennials might not purchase products from a company that ignores climate. Another business might be impacted by actually global warming, such as the fishing industry. Social trends, political, economic, technology, financial, all have an impact on business. Every businessperson needs to learn to scan the environment for changes that might influence their business. This is an unprecedented time because the unknown is the primary factor. While some companies are scrambling, others are thriving. The ones thriving have either a product or service that consumers need to exist. The other group that is thriving is businesses that had agile strategies that allowed for change to fit the situation. Falling demand for products and services Slump in production Mass unemployment Financial crisis – Stock Market A decline in the gross domestic product of around 20% The economy was almost entirely frozen, as practically all activities stopped. – Worldwide. We may be on the verge of another shutdown as we watch what other countries are doing today. Will their shutdowns affect global business? Some of our most prominent businesses in the world were born out of the great depression in the 1930s. So, we may see many new companies after this is over.
