Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Impact of Coronavirus on Businesses The Coronavirus pandemic has had a profound impact on businesses worldwid 300 words more in it e. The immediate effect

Impact of Coronavirus on Businesses The Coronavirus pandemic has had a profound impact on businesses worldwid 300 words more in it e. The immediate effect was a significant disruption in supply chains as factories were shut down. Many businesses, particularly in the hospitality and travel sectors, experienced a drastic drop in demand. Remote working became the new norm for many companies, leading to a re-evaluation of traditional working models. There was also a rapid acceleration in digital transformation as businesses sought to adapt to the new environment. However, some sectors like e-commerce and digital services experienced growth due to increased online activity. Impact of Coronavirus on UK Retail Business The UK retail sector was significantly affected by the Coronavirus pandemic. Non-essential stores were forced to close during lockdowns, leading to a loss in sales. High street retailers were particularly hard hit, with many facing bankruptcy. On the other hand, online retail saw a surge in demand as consumers shifted to e-commerce. Grocery retailers also experienced increased demand but faced challenges in managing supply chains and ensuring the safety of employees and customers. Strategies of Coping Coronavirus Impact on UK Retail Business UK retail businesses have adopted several strategies to cope

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Management

Authors: Richard L Daft, Dorothy Marcic

6th Edition

9780324581782, 324581785, 978-0324568387

More Books

Students also viewed these General Management questions