Table of Contents
Introduction Coronavirus (COVID-19)
Coronavirus is the family name for a group of viruses that causes and starts from ordinary common cold to Middle East and severe acute respiratory syndrome, MERS-Cov, and SARS-Cov respectively. The thing to understand about Coronavirus that it is zoonotic, and it moves and transfers between humans and animals; sometimes it only circulates among animals without affecting human beings.
However, COVID-19 is the latest addition in the virus family and it is traced back to the Chinese province Wuhan at the end of 2019. Later Chinese government quarantined the whole province by restricting millions of people restricting into their houses, the purpose was to stop it without further spreading.
But Covid-19 somehow managed to spread across many countries in the beginning of March 2020. Since it’s a new virus and scientists don’t know the exact characteristics of this virus that how it spreads among humans. Commonly it spreads with touching, droplets of coughing, and sneezing.
Its symptoms are high temperature that you feel it without measuring it with the thermometer, severe and continuous coughing, fever and difficulty in breathing. Those who died from Coronavirus are either aged having more than 70 years old, or they have an internal weak immunity system.
Now, it’s time to discuss PEST Analysis of Coronavirus to find out how this virus ‘covid-19’ is affecting the political, economical, social, technological, and legal environments of various countries.
Political Factors
Some of the major political factors of covid-19 are as follows;
Govt. Slow Response
The reason it has spread so fast across the world that the response of various governments towards covid-19 was very slow. Italy and China are at the top of the list and other countries were busy playing the blame games like; Chinese people eat various birds and insects, that’s why it’s happening. While other countries didn’t take it seriously until things got out of hands.
Some dictatorial and authoritarian countries like China were more worried about their political image, rather than the virus and veracity of the situation.
Changing Trade System
The ways Coronavirus ‘covid-19’ is spreading globally. Since the world has also become a global village for the past decade. It means that different countries get their products manufactured from other countries like medicinal face masks.
Now, the trade system of the world will change and countries would prefer manufacturing their products instead of relying on others. It’s because of the fear of importing some unknown virus. The supply chain of various products has been affected very badly.
Economical Factors
Some of the economic factors of Coronavirus are as follows;
Declining Market
The Chinese government has quarantined the whole province, and China has one of the world’s leading manufacturing and financial market. Now, the focus of the government is shifted into getting people safe and healthy. Manufacturers are shutting down their businesses to avoid being infected.
Same is the case with the US, UK, Australian, and all other major financial stock markets; they’re hitting the rock bottom of all-time low. Investors, on the other hand, are pulling out their resources and investments. If the businesses, markets, and investors continue to behave like this, then there’s going to be an economic recession in the future.
Fewer Workforces
As we know that more and more people are getting ill, and the rest are transferred into the quarantine. Those left are afraid to go out. Even if you want to produce something, then you’d have a serious difficulty finding the workforce. Now, we have the workforce available to work, but they’re hesitant of going out by the fear of getting infected. Those who will take the risk, they’re likely to die first. The rest would face the hunger and food shortage issues and after this crisis. There’ll be very less workforce to contribute to the country’s economy.
Social Factors
Coronavirus is affecting and creating some of the socio-cultural issues, they’re as follows;
Fear and Panic
Fear of Coronavirus is creating mass panic among people; therefore, people are rushing towards buying more than needed, whether it’s fuel, food, toilet papers, and household things. As a result, there would be a shortage of food and other necessary supplies. In the presence of a shortage, you would also experience a quarrel and fight over whatever is left.
Shortage, storing more than needed, and fighting would turn the whole supply chain system upside down. There would also be incidents of theft and robbery.
Discrimination and Racism
Since the virus broke out from China and people are also talking about their food and what they eat. People have started to avoid visiting Chinese hotels and restaurants in Europe and America, even though those people have nothing to do with the virus.
When the death rate would increase, it would make people angry and furious and they need someone to put their blame and hold them responsible. However, it would lead the angry crowd assaulting anyone who looks like Chinese or Asian.
Less Travelling
Coronavirus ‘covid-19’ has badly affected the tourism industry, and especially the airlines. It’s because of the fear that the new place would make them infected. Therefore, people prefer staying safe at home than being infected outside.
Countries, cities, airlines, and people whose businesses and source of income completely rely on the tourists, they’re going through a serious though time. Owners have no other choice but to let go of their staff because it’s no use when there aren’t many customers.
Freelancing and Remotely Working
Since Coronavirus has caused so much damage, death, and havoc, but freelancing and remote working have been proliferating in the midst of all of this. It is because there are no chances of spreading the virus when people are working at home, and they don’t have any physical contact.
Currently, office workers are doing work from their houses, but soon employers would hire freelancers because it would be much cheaper than keeping a permanent employee.
Technological Factors
Antiviral Medicine
As we know that antibiotics work against bacteria, but not against virus. You’ll antivirus medicine to fight against viruses. Since covid-19 is a newly found virus, and scientists don’t have much information about its characteristics. Therefore, scientists and the world’s great minds are working day and night to find a cure for this virus.
The best possible solution under the circumstances is to get yourself tested before exposing yourself to public and keeping everyone safe around you.
Legal Lactors
Australia, Italy, the UK, and many other countries have officially shut down their borders and declared a state of emergency. The purpose is to keep their city safe and manage the crisis without taking any risks of letting foreigners in the country.
Conclusion: PEST Analysis of Coronavirus
Coronavirus ‘covid-19’ has had a great impact on our lives directly and indirectly. For instance, politically countries are more cautious about their political image than the actual situation. Economically, changing the trade system and infectious disease are making people unemployed. Socially, people are getting panic because of the shortage of supplies; it’s making people to discriminate against others based on their ethnic background. It’s a very challenging situation for the scientists to find the cure, and their teams are under a great psychological and public pressure.
Therefore, the administration and governing institutions must keep in mind all of these factors. How one factor affects the other, once they get to know their interdependence relation, then they would be able to minimize the risks and make effective decisions.
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