MGT 365 Week 4 Discussion - Post And Response

Jason Carr 

I think the spread of Covid-19 is the biggest threat to the world and international businesses right now. It is still continuing to cause governments to lock business down all around the world. It truly seems like something ugly is brewing. Currently, small businesses are shutting down whilst the stock market is reaching all-time highs. This really does not make a lot of sense that this is happening. We cannot continue to live life like this as the goal of lockdowns was not to prevent people from getting the virus but to prevent healthcare from being overwhelmed. Now nearly 6 months later a lot of things are still closed. I strongly recommend a solution for businesses to implement across the world. This idea is to create a system where the elderly and people at risk can stay at home while the capable healthy people continue their daily lives just as normal and distance themselves from the unhealthy. This is the only way we are going to get through this as we cannot just rely on the vaccine as it may not even be any more effective than a flu shot. People need to get back to work and the economy needs to be fully unpaused before this massive lockdown kills the global economy and a ripple effect of many ugly things happen that could be far worse for people. These are things like mass unemployment, economic collapse, housing market collapse, and many more. I hope that soon the world will be able to go back to how it was.

Michele Howard

Currently, Covid-19 is the biggest threat to international business. In most countries, it has caused businesses to completely shut down, and some business have had to permanently close down. Even big companies such as Ford and General Motors shut down their plants and put a halt to the car industry and their international affairs. In addition to this many countries have had to close down borders, in hopes of preventing further spread of the virus. Unfortunately, there is not a way to get rid of Covid-19, humans would have to be perfect to get rid of the virus without a vaccine and humans are far from perfect. Even with a vaccine, some will choose to participate, and some will not. Right now, the best steps to co-existing with Covid-19 are 1. Social Distance (run half capacity), 2. Wear a mask, and 3. Wash your hands. An extra step is to encourage working from home if possible.

              For me, it is difficult to pick a second biggest issue. Weather pattern disruptions can be a big issue because they tend to put people out of work, homes, and school. Weather patterns can have long last effects on business and economies; however, I fell most of them are temporary and get resolved as soon as possible.

                             BREXIT seems to be another huge issue since it has the possibility of putting Britain into a large recession, however, it seems to have a lot of “maybe this will happen, maybe it will not.” My other issues is despite doing a lot of research on it, I am still not fully understanding the topic.

Riley Kurkowski 

COLLAPSE

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The biggest threat that effects our global economic system is the Covid pandemic. The pandemic has put a hold on global trade and disrupted supply chain internationally. It has not only hurt the world economy but how humans socialize, mistrust in other countries, how businesses cooperate with one another, and the lives and wellbeing of many. Some countries still have their borders closed which disrupts global trade or good coming in and out. Countries are wanting to improve their global economy which is difficult because international business can not function while borders across the globe remain closed. Harvard Business Review writes, “The crisis and the necessary public health response are causing the largest and fastest decline in international flows in modern history.” It is safe to say; this pandemic has caused a huge halt and decline in the world economy, it will take years to recover from this unfortunate situation.

Another issue that is effecting world government is weather and natural disasters. These natural inconveniences cost a lot of money to deal with and maintain. The money that is being put towards these disasters could be used for international business. Natural disasters can not be prevented, but it is important that business plan for such incidents to occur. In certain places where natural disasters are prone to happen, businesses build certain building to withstand natural disasters. Precautions like these may be pricey, but it will cost a lot more money if the entire building is damaged or destroyed. 

 

References

Altman, Steven A. “Will Covid-19 Have a Lasting Impact on Globalization?” Harvard Business 

Review, 17 Aug. 2020,

hbr.org/2020/05/will-covid-19-have-a-lasting-impact-on-globalization?

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