Effects of COVID -19
Effects of COVID-19
In the past weeks, COVID-19 has significantly affected financial markets and industries that are venerable such as tourism, manufacturing hospitality and travel. As such, the world economy has been disrupted causing an increased uncertainty that is widely reflected in increased volatility and lower volatility in the financial market. Thus, the coronavirus has negatively affected business in the world and poses a tremendous risk to the economy today (Vladislav, 2020). This paper will outline how the coronavirus has disrupted things in the world.
Both articles have outlined the impact of the virus on the market sector. The market sector has been adversely affected by the pandemic across the world. As a result of the negative effect on the market, most organizations have made losses. To reduce the loss some companies have shut down and millions of people have lost their jobs (Vladislav,2020). The economy of many counties will experience slow growth in the first half of the year 2020.
One of the difference between the articles is in having a possible economic principle policies responses. These principles are about different ways that can be used to combat the fall of the economy. These measures will enable countries to counter the risk caused by the COVID-19 virus in a constructive, quick and effective manner. In coming up with these policies, it will be possible not to disrupt workers, small scale businesses and also reduce efforts to interfere with the epidemic. Another difference is in political impact created by the coronavirus. Coronavirus may affect the leaders from countries like Japan, U.S, South Korea and others who have been criticized for mishandling the COVID-19 virus and allowing the cases to increase. Such leaders may be forced to leave office or reduce chances for re-election.
In preparation for future crisis it is important for companies to plan on how to invest in technology such that it’s possible to work from home and connect with the office. This can be achieved through adequate development in infrastructure. As COVID-19 has continued to spread around the globe, the supply chain of companies have been significantly disrupted (Nuno, 2020). The Apple Company for example have warned about shortage of supply of its products such as iPhones. This is as a result of closing down its Chinese factories due to the effects of coronavirus. Working may have resulted in China but the market to supply its products has reduced.
COVID-19 has directly affected the economy through affecting demand and supply chain, financial market, household consumption, business investment, and international trade. Therefore, COVID-19 to date remains a great threat to the world economy. Many large companies in different parts of the world have been forced to shut down (Nuno, 2020). As a result companies have made losses and people have lost their jobs. To reduce the losses governments of countries affected by coronavirus need to come up with policies that will help to protect the economy. With coronavirus disrupting the economy, individuals are requested to obey government directives to curb and control the spread of the virus. In China, the government has been able to control the spread of the virus and this gives hope that business will be back to normal soon.
COVID-19 has affected, social, political and economic development in the world today. As such, there is a disruption of the world economy. These disruptions have a negative impact on most business. Nations must, therefore, be ready for hard economic time since they are going to lose a lot of money in the long run (Vladislav, 2020). Some companies have been forced to shut down to help the government control the spread and as a result companies have made losses. The impact of coronavirus is being felt worldwide in almost all sectors and thus there could be possible long term effects. The financial market has gone down being one of the sectors experiencing severe impacts. The labor market, on the other hand, has resulted in urban unemployment. In conclusion coronavirus pandemic has been the worst heat for most businesses and immediate actions need to be taken in to control the situation from getting worse.
Nuno Fernandes (2020) Economic Effects of Coronavirus Outbreak (COVID-19) on the World Economy, SSRN Electronic Journal
Vladislav Inozemtsev (2020) How the COVID 19 epidemic will impact the economy, current Digest of the Russian Press, The
The risk of avoiding confrontations
The risk of avoiding confrontations
In workplaces, conflicts are often and mostly they are as a result of lack of communication. If the disagreements are not handled they could negatively affect business. Managers should not avoid confrontations with employees but should quickly handle them if they want to change the face of the company. In workplaces, business people sometimes mistake between conflict and disagreement. Differences in opinions are known as disagreements and sometimes may or may not turn into conflict (Mitchell, 2015). This paper will discuss the risk of avoiding confrontations with a problem employee.
Generally, workplaces where conflict is not confronted, reflects poor management system. Unresolved conflict in a team shows there is a weakness in the management of a firm because the management is not able to come together and solve a problem that is reflected. As such, it is considered administrators fault of failing to recognize conflict or failing to seek resolution (Mitchell, 2015). It is the responsibility of the management to notice and handle conflict in an organization. Conflict should be handled directly by the management or through a professional human resource.
When confrontations are avoided in workplaces, it affects the employee’s performance and decreases productivity. When important feelings of an employee are suppressed, the results are low morale, distrust, and stress. It may also result in division among the employee’s and sometimes they form teams depending on various matters like opinions and favoritism which results in an unhealthy business environment. A business team that is divided results in the inability to ineffective production. As such employee’s performance in the workplace reduces due to strained relationships in workplaces (Chamila, 2017). It is thus important to confront the employee’s unexpected behavior as the manager to avoid positive outcomes productivity for all involved employees.
In conclusion managers and heads of work, places are very crucial in confronting the employees. They should never avoid confrontation and should notice every performance problem that is facing the organization. Additionally, they should communicate regularly with employees so that they can easily spot the conflict. When handling confrontation managers should avoid unhealthy confrontation behavior that can result in conflict to take care of the problem immediately.
Managers in workplaces are regularly faced by confrontation from employees and it is always important to handle the conflict immediately so that it does not affect the overall performance of an organization. The major role of managers is to identify the confrontation faced and handle it (Chamila, 2017). Sometimes the confrontations may be difficult to handle and as a manager one can seek assistance from professional human resources. When handling confrontations, it’s always important to be positive and avoid emotional manipulation. Inform the employee about the consequences they can face if they are not able to solve the confrontation. It is also vital for managers to understand tactics that thy can adopt when dealing with confrontations from employees. When dealing with confrontations it’s always important to understand the cause and consequences to expect. This is because the confrontation with a single employee may affect the behavior and working relationship with other employees. As such, conflict with employees should be handled with care to avoid conflict and disputes. In conclusion, managers should never ignore to notice confrontation or fail to seek resolutions from confrontation (Chamila, 2017). They should always be ready to take the responsibility of solving disagreement and conflict that may arise from working place to create a healthy business environment.
Different individuals are born passive-aggressive or active aggressive. Despite these differences, everybody has ever had confrontations with such colleagues. As such, it is important to understand how you solve the disagreement without unhealthy behavior being involved. A healthy behavior involves a polite way of solving the disagreement. In workplaces, confrontations are witnessed often and they should be solved immediately to avoid a decrease in production. As such, managers should be in the front line of facing confrontation between employees and the organization and ensure they create a healthy working environment. A healthy working environment motivates and increases the morale of employees. If conflicts in working places are unsolved, they create disputes in working places and affect the working performance of most employees. Managers should thus solve confrontations if they want teamwork and positive production (Mitchell, 2015). When working as a team there should be no unresolved issues among team members. In conclusion, managers have to play a role when there are confrontations in their organization. They should never fail to notice or avoid seeking resolutions for conflict. As leaders, they should be willing and able to effectively solve conflicts.
Chamila Subasinghe (2017) Spatial confrontations: Abandonment of self-labor in transitional sheltering after a natural disaster, International Journal of Disaster Risk Reduction
Mitchell Holt, (2015) Risks of Not Confronting Conflict in the Workplace
Importance of manufactures informing consumers about side effect of drugs
In recent years the relationship between productive strategies, infertility, and the risk of getting gynecological cancer have for years arouse interest. Several side effects have recently been associated with the treatment of infertility that includes the development of cancer (Federica 2014). Despite the high risk of exposing women to ovarian cancer by consumption of fertility drug manufacturers continue to produce these harmful drugs. This paper addresses the issue of why it is important for drug manufactures to voluntarily disclose information on the adverse effects of fertility drug consumers.
According to the study that was conducted by Stanford University medical research team on the correlation between the use of fertility drugs and ovarian cancer, they concluded that Pergonal and Serophene drugs may increase the risk of getting ovarian cancer by three-times. As such, manufactures need to inform consumers about the effects of drugs. This is because it enables consumers to make an informed decision on whether to consume the drug or not. It does not matter if the consumer may or may not get adverse effects depending on their body. The effect and the cost of treating cancer are more compared to the price of the drug (Federica 2014). Additionally, consumers are interested in having good health and it’s not a must that one controls infertility using these two drugs which can have a negative side effect of risking an individual to cancer.
When a manufacturer informs a consumer on the side effects of consuming their drugs and the drugs affect them, consumers should not blame the drug manufacturer because they were informed about the side effects they may face (Roberta 2012). Consumers would feel neglected by the government because of allowing manufacturers to produce commodities that have an adverse effect on their bodies and they are aware of it. As such, some would go to courts to seek compensation from the manufacture for producing harmful commodities for their customers. To avoid such risks and losses it is thus very important for manufacturers to inform consumers about the side effects of drugs so that they can make an informed decision about consuming them.
The safety of human beings’ body from drugs should be given priority by drug manufacturers. As such manufacturers must always inform the consumer on the side effects they may experience from the consumption of a certain drug. The manufacturers of fertility drugs of late have been questioned due to the increased cases of ovarian cancer in women. Some of the drug manufacturers want to make more profits by producing harmful drugs without considering their effect on consumers (Roberta, 2012). Drug manufacturer needs to ask themselves questions on what would happen if their products affected all the consumers? Would they sell any more? Manufacturers should consider increasing the price of a commodity but ensure that it’s of quality and has no adverse effect on the consumer. Additionally, the manufactures of Pergonal and Serophene need to conduct further research and not just rely on the results from Stanford University medical research. This is to determine the extent to which the drug can cause ovarian cancer. If they conclude that the drugs can cause ovarian cancer, they should immediately take the responsibility of informing the consumers about the side effects of their drugs.
Cancer today constitute one of the leading cause of death today. Although there are different types of cancers, research conducted by Stanford university medical research concluded that ovarian cancer may be caused by Pergonal and Serophene drugs. As such, manufactures need to take action and inform their consumers about the side effects caused by drugs. By informing consumers about the adverse effects caused by these drugs, it enables consumers to make an informed decision before consuming these drugs to control fertility. Additionally, consumers cannot sue the manufacturer because they have been informed of the side effects of consuming drugs (Roberta2012). Therefore, when they are consuming such drugs consumers will be ready to face the consequences on their own without blaming anyone. Manufacturers and the government must always be ready to protect the consumer. For the manufactures of Pergonal and Serophene drugs, they need to do further research and determine the extent to which these drugs can cause cancer. They can also reduce these extents to which these drugs can cause cancer to ensure the consumer is as safe as possible.
Federica Tomao, Giuseppe Lo Russo, Gian Paolo Spinelli, and Valeria Stati (2014) Fertility drugs, reproductive strategies and ovarian cancer risk
Roberta B. Ness, Daniel W. Cramer, Marc T. Goodman, Susanne Krûger Kjaer, Kathy Mallin, Berit Jul Mosgaard, David M. Purdie, Harvey A. Risch, Ronald Vergona, Anna H. Wu (2012) Infertility, Fertility Drugs, and Ovarian Cancer: A Pooled Analysis of Case-Control Studies American Journal of Epidemiology, Volume 155, Issue 3, 1 February 2002, Pages 217–224