The case study deliberates the impact of the COVID-19 pandemic on businesses globally and the responses and strategies implemented by them to tackle its implications The case begins with a description of how the COVID 19 pandemic spread globally from China and created a health crisis across the world. As of March 31,2000 COVID-19 had spread to 204 countries; there were about 697,244 confirmed cases and 33,257 confirmed deaths across the world. The case then explores the impact of the COVID-19 pandemic on businesses globally. In addition to the human impact, there was also a significant business impact being felt globally. About 94% of the Fortune 1000 companies were already seeing COVID-19 disruptions. The most immediate business impact of the COVID-19 pandemic was a major disruption in supply chains. The decline in industrial activity had also reduced the demand for energy products like crude oil, causing prices to drop sharply, which negatively affected energy producers, renewable energy producers, and electric vehicle manufacturers. The COVID-19 outbreak disrupted the education of a minimum of 2905 million students worldwide, It also impacted the automotive industry, tech firms, small businesses, retail businesses, and the banking industry. Next, the case discusses the responses and strategies of businesses to tackle the impact of the pandemic on them. To reduce the spread of infection, many employers were allowing their employees to work from home. Many companies were offering counselling to distressed employees. Further, to mitigate the risk, experts were advising businesses to create a cross-functional COVID-19 response team and support customers and partners in every possible way. Experts from KPMG and McKinsey & Company also suggested that companies assess supplier risk. Finally, the case presents the future outlook.

Source: https://www.icmrindia.org/Casestudies/atalogue/Business Strategy.html

Discuss the implications of the COVID1mic on businesses strategy globally that the pressures for cost reductions and local responsiveness to epidemics. 25 Marks)