Eastern University

Report For

Research Methodology in Business on

“Measuring Impact of Covid-19 on our life: A study on working people”

Course Code: Bus-504

Course Title: Research Methodology in Business

Section- 01

Program: MBA

Prepared for:

Golam Mohammad Forkan

Associate Professor

Faculty of Business Administration

Prepared by:

Rifat Farjana Fariha

ID: 202600012

Masters of Business Administration (MBA)

Date of Submission: 30th September, 2020

 Table of Content

Cover 3
1.0 Introduction 5
1.1 Origin of the Report 5
1.2 Statement of the Problem 5
1.3 Objectives of The Report 5
1.3.1 Broad Objective 5
1.3.2 Specific Objectives 6
1.4 Scope of The Report 6
1.5 LIMITATIONS OF THE REPORT 6
2.0 Methodology 8
2.1 Type of Research 8
2.2 Method & Procedure 8
2.2.1 Sources of Report 8
2.2.2 Data Collection Approaches 8
2.2.3 Research Design 9
2.3 Sampling Frame 9
2.3.1 Sampling Technique 9
2.3.2 Sample Size 9
2.4 Sources of Data 9
3.0 Overview 11
3.1 Origin of Covid-19 11
3.2 An Overview of The Impact of Covid 19 On Working People 11
3.3 Background of The Working People as Per the Income Of Per Capita 12
3.4 Major and Focused Profession 13
3.4.1 Physicians 14
3.4.2 Teachers 15
3.4.3 Corporates 16

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3.4.4 Daily Workers/Informal Worker 17
3.4.5 Entrepreneurs 19
4.0 Results & Discussions 22
4.1 Consequence of Covid-19 In Short 22
4.2 Physical Aspect 23
4.3 Economical Aspect 26
4.4 Psychological Aspect 30
4.5 Social Aspect 33
4.5.1 Older Persons 34
4.5.2 Persons with Disabilities 35
4.5.3 Youth 36
4.5.4 Indigenous Peoples 36
4.6 Comparison of Previous and Current Situation due to Covid-19 38
4.6.1 Previous Situation Before Covid-19 38
4.6.2 Present Situation During Covid-19 39
4.7 POST SITUATION OF COVID -19 39
5.0 Major Findings 41
1.Analysis from The Physicians 41
2.Analysis from The Teachers 42
3.Analysis from The Corporates 43
4.Analysis from The Daily Workers 44
5.Analysis from The Entrepreneurs 45
6.0 Recommendations 47
1. Short Term Solution 47
2. Long Term Solution 48
7.0 Conclusion 50
Bibliography 52

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 Measuring Impact of Covid-19 on our life: A

study on working people

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 Chapter
01

- Introduction -

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 1.0 INTRODUCTION
1.1 ORIGIN OF THE REPORT

The following Internship report is a requisite for the completion of the course Research
Methodology in Business for MBA program of Eastern University. As a student of MBA,
I had completed the report based on the self-chosen topic with the help and guidelines of
Mr. Golam Mohammad Forkan, Associate Professor, Faculty of Business Administration
of Eastern University. The primary goal of this report is to finding out the practical life
scenario of working people during the current pandemic called Covid-19.

During the report making period, I used my observation, my own experience as a

working woman and also from my colleagues, friends and family members who are
working outside even in this pandemic situation

1.2 STATEMENT OF THE PROBLEM

The impact of Covid-19 is a general issue for every felid of people, no matter they are
home maker, students, business personnel, worker or even a retired person. This
pandemic has been showed up as curse for all the people worldwide but to be specifically
the working people are suffering most whether its financially or mentally. Covid-19
causes a massive unemployment rate and financial crisis globally. The people who is the
earner of a family whether through business or job, they are experiencing financial loss,
job cutting, unemployment, migrating from city to village which all above causing a vital
factor for frustration or burdened. Starting from the threat of health, its encompassing
through financial status to mental health of working people or the earner/ contributor of a
family as well. From that different perspective, comparison will be highlighted among
working to non-working people daily lives phenomenon after the corona virus outbreak.

1.3 OBJECTIVES OF THE REPORT

There are 2 types of objectives-

1.3.1 Broad objective

To measure the impact of corona virus effect on working people including financially,
physically and mentally is the broad objective of this research.
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1.3.2 Specific objectives
• To measure the physical impact due to Covid-19 on working people
• To measure the financial impact due to Covid-19 on working people
• To measure the mental impact due to Covid-19 on working people
• To measure the social impact due to Covid-19 on working people
• To find out some solutions to cope up with the current situation

1.4 SCOPE OF THE REPORT

• Measuring physical & mental health

• Measuring economical & social status
• Analyzing informal and migrant workers financial conditions
• Comparing the changes in living standards or lifestyle

1.5 LIMITATIONS OF THE REPORT

My effort is not free from limitation. The main limiting factor for the project was
situation. When I started this research, I found the very first challenge to gather the
information and experiences directly from different fields of occupation. I could not visit
work different types of work stations to survey, as the Covid-19 outbreak is still going on
full fledge. It hampered to collect adequate data physically which will be also responsible
to get updated data & information through online. But I tried the level best to study
through various online sites and updated articles to accumulate necessary information as
much as possible.

I faced the following problems that may be terms as the shortcomings of the study:

❖ Insufficiency of data

To collect data/information from different professionals and even the street

business like ambulant carts, hawker’s business in Bangladesh is very difficult during this
restricted situation in Covid-19. So, for better interpretation, I could not get sufficient
data.

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 Chapter
02

- Methodology -

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 2.0 METHODOLOGY
Methodology of a research stands as the backdrop of the study; it represents the systems
how the research has done or organized. This work as core factor to maintain the
systematic way. In this report, the decisions and calculations are made based the
circumstances and target victims, in a word the working people from different
occupations.

2.1 TYPE OF RESEARCH

In this study, exploratory research was undertaken based on the Qualitative data to gain
insights and understanding of the overall working people experience and conditions right
now. So, descriptive research is more comprehensive to fulfill the main purpose of the
study.

2.2 METHOD & PROCEDURE

2.2.1 SOURCES OF REPORT:

The principal method is used for my study is the primary data collection. I also use very
few secondary data. The analysis is done based on the gathered information and the
instructions of our respected faculty.

2.2.2 DATA COLLECTION APPROACHES:

As the primary and the secondary data are being used, the data collection method has
been done through Survey and I have selected personal interview as my data collection
approach.

➢ Primary Data:
Primary information is under consideration in the following manner:

• My very own experience as a senior executive-hr.

• Face to face conversation with my office colleagues
• Direct observations from surroundings
• Experience story collected over phone from my working friends & relatives.

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 ➢ Secondary Data:
The secondary data, which is be used for this research, are the journals, reports,
documentary and data from various websites

2.2.3 RESEARCH DESIGN

This study will be exploratory research based on the Qualitative data acquired.

2.3 SAMPLING FRAME

For this study all kind of working people from numerous sectors will be the population
and five professions from different sectors (Doctors, Teachers, Corporates, Day Labor &
Entrepreneurs) will be the sampling frame.

2.3.1 SAMPLING TECHNIQUE

Considering all the factors, two sampling techniques that will be used in this study those
are:
• Convenience Sampling Technique - In convenience sampling, readily available
data is used. So, I did for my research.

2.3.2 SAMPLE SIZE

All my selected occupations (Doctors, Teachers, Corporates, Day Labor and

Entrepreneurs) will be focused on the basis of their shares of income or financial
contribution to their family, in an easy word I focused the breadwinner of a family on
whom their families are dependent financially. They will be the sample size for this
research.

2.4 SOURCES OF DATA

This research is conducted based on the primary and secondary sources of data.

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 Chapter
03

- Overview of the COVID-19 Impact-

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 3.0 OVERVIEW

3.1 ORIGIN OF COVID-19

COVID-19 is a new infectious disease caused by a newly discovered coronavirus. For the
first time it is discovered in December,2019 and the disease emerged in Wuhan, Hubei
province, China. The disease was named by the World Health Organization (WHO) as
COVID-19.
According to the report of the World Health Organization (till the date), the current
outbreak of COVID-19, has affected over 22,876,036 people and killed more than
797,289 people in more than 200 countries throughout the world and it is assumed that
the severe outbreaks of this diseases caused by a number of viruses. Till now there is no
report of any clinically approved antiviral drugs or vaccines to fight against COVID-19
and around 15crore people recovered from this deadly virus.
It has rapidly spread around the world and affected boundless health, economic,
environmental and social challenges worldwide.

3.2 AN OVERVIEW OF THE IMPACT OF COVID 19 ON WORKING

PEOPLE
Each and every occupation are at risk around the world due to Corona virus outbreak.
Each professional has to face the uncertainty of health and finance. On the other hand,
there is no alternative way out as different professions as well as the organizations
requires different kinds of working and payment policy during this pandemic. From the
perspective of a developing country like Bangladesh, it is more than a hard scenario,
People from every profession such as doctors, engineers, constitution, corporates,
teachers, bankers, daily labor, garment workers, businessman, entrepreneur all are

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suffering physically, financially, psychologically and socially. Some are being offered to
work from home, some are getting paid based on minimum percentage, some have to risk
their own life to feed the family even some are currently jobless.

The June 2020 Global Economic Prospects describes both the immediate and near-term
outlook for the impact of the pandemic and the long-term damage it has dealt to prospects
for growth. The baseline forecast envisions a 5.2 % contraction in global GDP in 2020,
using market exchange rate weights the deepest global recession in decades, despite the
extraordinary efforts of governments to counter the downturn with fiscal and monetary
policy support. Over the longer horizon, the deep recessions triggered by the pandemic
are expected to leave lasting scars through lower investment, an erosion of human capital
through lost work and schooling, and fragmentation of global trade and supply linkages.

So, all the accumulated experiences can figure out then current and common scenario of
such working people’s daily life impact after the Covid-19 has been introduced to the
world.

3.3 BACKGROUND OF THE WORKING PEOPLE AS PER THE

INCOME OF PER CAPITA

The pandemic is expected to plunge most countries into recession in 2020, with per
capita income contracting in the largest fraction of countries globally since 1870.
Advanced economies are projected to shrink 7%. That weakness will spill over to the
outlook for emerging market and developing economies, who are forecast to contract by
2.5% as they cope with their own domestic outbreaks of the virus.

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 This would represent the weakest showing by this group of economies in at least sixty
years. The crisis highlights the need for urgent action to cushion the pandemic’s health
and economic consequences, protect vulnerable populations and set the stage for a lasting
recovery.

For emerging market and developing countries, many of which face daunting
vulnerabilities, it is critical to strengthen public health systems, address the challenges
posed by informality, and implement reforms that will support strong and sustainable
growth once the health crisis abates.

The COVID-19 pandemic has spread with alarming speed, infecting millions and
bringing economic activity to a near-standstill as countries imposed tight restrictions on
movement to halt the spread of the virus. As the health and human toll grows, the
economic damage is already evident and represents the largest economic shock the world
has experienced in decades.

3.4 MAJOR AND FOCUSED PROFESSION

Among all the different fields of professions, some major professions are focused who
are mostly suffering from every aspect and they are:

Focused Professions

Physicians Teachers Corporates Daily Entrepreneurs

Workers

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3.4.1 Physicians
Though physicians are critical to the effective responses to public health crises, they are
not impervious to either the infectious nature of the diseases, they treat nor the mental
burden of protracted exposure to unexpected suffering and death.
It is known for centuries that facing infectious disease has significant psychological
effects on doctors.
While there is extensive research on the psychological impact of the spread of viruses
like COVID-19, much of the data relate to public responses and do not focus on the
unique experience of the physicians who care for the patients. As the weeks of treating
COVID-19 patients accumulate, it is important to consider what the short- and long-term
consequences will be for relevant physicians, as well as the implications of these
consequences.

Data collected on this issue from previous pandemics and other public health crises may
provide a small lens through which we can gather information on the realities of the
psychological impact of COVID-19.

Outbreaks increase symptoms of anxiety and depression in physicians. It has been

observed in physicians dealing with pandemics, most of the psychological data point to
the emergence of symptoms related to anxiety and depression.

For example, COVID-19 workers are experiencing guilt associated with watching
patients dying alone and their need to break news to loved ones via technology rather
than in person. This guilt may translate immediately or eventually into clinical anxiety or
depression, which would be consistent with findings from previous outbreaks.

The psychological impacts include:

• Anxiety

• Depression

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 • Preparedness

• Psychological Support

3.4.2 Teachers

The impact of COVID-19 has had on the education community and the continued interest
in how to support teachers. This focuses on exploring the many ways that teachers are
being affected by the pandemic. The outbreak of the coronavirus created a rapidly
changing global health crisis and campus health officials are closely monitoring the
situation. Given their global nature, the campuses have been particularly vigilant.
While this index of impacts on teaching and learning is not an exhaustive list. Their
emotional states are assumed to be contributing factors that may affect the quality of
remote or online learning, teacher performance, student knowledge and skills. According
to the findings, the new circumstances created due to the spread of COVID-19, including
changes in education, have caused a number of concerns among students, parents, and
teachers.

The findings confirm the readiness and motivation of teachers to advance their
knowledge and skills, as well as to contribute with the aim of advancing the quality of
education. Opportunities to advance the quality of online learning, the support of
teachers, parents, and families, coupled with practical suggestions for parties involved in
the field of education, are also included.

The coronavirus pandemic was confirmed to have spread to Bangladesh in March.

Institute of Epidemiology, Disease Control and Research (IEDCR). On March 23,
considering the nature of virus transmission, the prime minister of Bangladesh announced
a complete nationwide lockdown. As health of the nation is very important and social
distancing reduces the spread of the virus, the steps taken by the Bangladesh Government
are highly appreciable. Depending on the situation, some initiatives are highly
informative to the faculty members and the students to enhance their knowledge.

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(a) Online courses
(b) Learning through YouTube channel
(c) Digital library etc. Bangladesh Television already has started some online classes
for primary and secondary students.

3.4.3 Corporates
Like all other sectors, the corporate organizations are not the different to face and suffer
due to the pandemic Covid-19. As the manufacturing to marketing, all major businesses
in the world are changing the way they operate in the wake of the deadly coronavirus.
As response to the outbreak becomes a long-term shift in how people work, corporate
organizations that support and adopt new ways of working can thrive more than the
others going forward. The new working conditions for organizations include diverse
factors such as employee experience, digital tools, and talent acquisition to implement
such seismic shifts effectively.

Corporate organizations need to rapidly adjust with changing needs of employees,

suppliers, and customers while navigating the financial and operational challenges. While
making necessary changes to boost protection for everyone and make workplaces safer.
Without any doubt, corporate sectors are struggling to cope with the ‘new normal’. In the
times of social distancing, keeping teams connected and reaching goals through
coordinated efforts are getting more challenging for organizations as the face several pain
like:

• Disruptions and delays in business operations due to lack of coordination and

communication

• Inconsistent communication owing to difficulties in ensuring critical

communication flows.

• Significant increases in demand for the IT support model

• Downtime of equipment impacting revenue or critical business operations

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 • Best remote working practices yet to be implemented due to lack of homogeneity
in skills of employees in different levels and age groups

• Increased vulnerability to cyber-attacks and other online security threats

With these new challenges, priorities have also changed as employees try to adapt to a
working setup they were not trained for. This adaptation curve varies across age groups
and experience levels in the organization. Thus, reacting fast with a first-generation
heterogeneous group of employees who are learning at their own pace is proving to be a
challenge for many organizations.

3.4.4 Daily Workers/Informal Worker

Informal workers contribute the most to the economy in the region but are excluded from the
legal and contractual protections of formal workers. As the COVID-19 crisis continues to
unfold across the world, informal workers remain exceptionally vulnerable to the
economic and labor market shocks of the pandemic. Many of these workers are likely to
lose their jobs and face extreme poverty and food insecurity as the disease intensifies
across large informal economies, such as those in South Asia.
The risk of civil unrest and social tension is also growing, making the plight of informal
workers a major political worry for South Asian governments. A lack of regulatory,
policy, and legislative structure to reach informal workers in the region is making it more
challenging for governments to provide relief and take measures to restore basic
livelihoods for informal workers at this time.

A significant proportion of informal employees or daily workers are engaged in non-

agriculture work across Bangladesh, Pakistan and India are involved in one of the four
broad occupational groups:

• Street vendors

• Waste pickers
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 • Home-based workers (subcontracted by both formal and informal enterprises)

• Domestic workers

These workers are subject to an unpredictable and irregular employer-worker

relationship, not defined by conventional forms of workplace and labor regulations.
Many formal businesses also hire informal workers.

Restrictions in movement are disrupting the supply chain for food, agricultural goods,
essential services, and reliable access to markets. Thousands of small and medium-sized
enterprises, which rely largely on informal workers, are now facing a reduction in
domestic demand and are at risk of permanently shutting down their operations. Those
reliant on the cash-based sector are struggling to earn the bare-essentials to survive.
Workers associated with the informal retail, wholesale, hospitality, and transport sectors
are hit worst by the containment measures.

The impacts are like:

• Loss of income

• Disproportionate health burden

• Lack of legal recognition and protection

• Limited access to social protection

This pandemic profoundly affects Bangladeshi workers abroad with Consequences for
Origin Communities. With nearly 8 million of its 160 million residents living abroad,
Bangladesh has one of the world’s largest immigrant populations, ranking only behind
India, Mexico, China, Russia, and Syria, according to estimates from the United Nations’
Population Division. As temporary workers who head overwhelmingly to the Gulf
Cooperation Council (GCC) countries, Bangladeshi migrants’ remit much of their
savings back home every month.

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The COVID-19 is adding so many challenges. As the coronavirus outbreak has spread
rapidly around the globe, the Bangladeshi government has struggled to combat it. The
public-health crisis has been exacerbated by the economic ripple effects resulting from
the pandemic-induced difficulties faced by Bangladeshis working abroad: Large-scale job
loss, salary reductions, and increase in deportations etc. The migrant workers’ sudden
loss of income and unexpected financial precarity have profound consequences for their
families and communities, with remittances that normally equal nearly one-third of
Bangladesh’s national budget now predicted to fall significantly.

3.4.5 Entrepreneurs

In the face of the global COVID-19 pandemic, entrepreneurs have to face a new reality:
that it is not only a huge sanitary and health crisis affecting millions, or even billions, of
people across the world. This is also provoking an unprecedented downturn in the global
economy.

The numbers are shattering. At the time of writing, France had recorded its biggest fall in
GDP – 5.8% – since 1949 in the first quarter of this year. Meanwhile, in the USA, the
numbers unemployed or underemployed have now passed 40 million. This reveals the
breakability of our economies and their fundamentals. Like others, Bangladesh is being a
developing country facing its utmost challenge for the entrepreneurs. For the online
shopping, food delivery, video gaming or video conferencing industries, where business
is currently booming, it’s a completely different picture from a business in the hotel,
restaurant, retail, entertainment, or sports industries.

The losses scenario for the entrepreneurs are like:

• Those entrepreneurs in COVID-impacted sectors should be ready to lose 50% to

80% of their turnover, as well as a major portion of their market value. More than
70% of start-ups have had to terminate full-time employee contracts since the start
of the COVID-19 pandemic;
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 • Many entrepreneurial businesses have pivoted to meet new needs for goods or
services borne out of the crisis;

• The way entrepreneurial business models and approaches are affected by the
pandemic will have an impact on how entrepreneurship is perceived as a job
choice in the future.

The onset and spread of COVID-19 have left few people, if any, unaffected.
Governments the world over have been repeatedly tested and stretched. They have set
new rules and norms to try to re-establish confidence and give economies a chance of
survival.

From manufacturing to marketing, all major businesses in the world are changing the
way they operate in the wake of the deadly coronavirus. As response to the outbreak
becomes a long-term shift in how people work, organizations that support and adopt new
ways of working can thrive more than the others going forward. The new working
conditions for organizations include diverse factors such as employee experience, digital
tools, and talent acquisition to implement such seismic shifts effectively. Businesses
should rapidly adjust with changing needs.

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 Chapter
04

- Results & Discussions -

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 4.0 RESULTS & DISCUSSIONS

4.1 CONSEQUENCE OF COVID-19 IN SHORT

The world faces a severe and acute public health emergency due to the ongoing COVID-
19 global pandemic. How individual countries respond in the coming weeks will be
critical in influencing the trajectory of national epidemics. The study compares predicted
mortality impacts in the absence of interventions or spontaneous social distancing with
what might be achieved with policies aimed at mitigating or suppressing transmission.
The estimates of mortality and healthcare demand are based on data from China and
high-income countries; differences in underlying health conditions and healthcare system
capacity will likely result in different patterns in low income settings.

COVID-19 would have resulted in 7.0 billion infections and 40 million deaths globally
this year. Mitigation strategies focusing on shielding the elderly (60% reduction in social
contacts) and slowing but not interrupting transmission (40% reduction in social contacts
for wider population) could reduce this burden by half, saving 20 million lives, but the
study's prediction that even in this scenario, health systems in all countries will be
quickly overwhelmed. This effect is likely to be most severe in lower income settings
where capacity is lowest: the mitigated scenarios lead to peak demand for critical care
beds in a typical low-income setting outstripping supply, in contrast to a typical high-
income setting where this factor is 7. As a result, there's an anticipation that the true
burden in low income settings pursuing mitigation strategies could be substantially higher
than reflected in these estimates.

The current situation of COVID-19 pandemic has caused most countries of the world to
close their borders. The global supply chain has hence been severely impacted. Now, one
main issue is the drastic decrease in remittance from our migrant workers, with a fall of
USD 170 million.

The lockdown since March 26 has resulted in all establishments, including factories,
closing, pushing millions of our workers towards unemployment. This pandemic has also

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left most workers in the informal sector unemployed. The World Bank has stated that if
this situation continues, our GDP growth will decrease significantly. Unlike China,
Bangladesh's COVID-19 recovery rate is lower than the infection rate. The working
people are suffering the most during this pandemic.

The Department of Inspection for Factories and Establishments (DIFE) has created
multiple task forces throughout the country. These task forces need to be tripartite so that
the workers can have a platform to voice their opinions. Global trade contracted by 3% in
the first quarter of 2020. According to the UNCTAD, the downturn would accelerate in
the second quarter and so the world trade decline by 27%. This is echoed by the World
Trade Organization (WTO), which has projected that the world merchandise trade would
shrink between 13% and 32% in 2020.

The garment industry is at immense threat and depending on that, Bangladesh is facing a
lot. ILO Director General Guy Ryder has taken the initiative to urgently hold discussions
with the government, brands, buyers, factory owners, and trade union leaders to find a
way to save the RMG industry.

This pandemic has a great influence on each and every sectors of people. But in a general
sense, it impacts on some specific aspects such as physical, economical or financial,
psychological and social.

4.2 PHYSICAL ASPECT

The global outbreak of COVID-19 has resulted in closure of gyms, stadiums, pools,
dance and fitness studios, physiotherapy centers, parks and playgrounds. Many
individuals are therefore not able to actively participate in their regular individual or
group sporting or physical activities outside of their homes.

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Under such conditions, many tend to be less physically active, have longer screen time,
irregular sleep patterns as well as worse diets, resulting in weight gain and loss of
physical fitness. Low-income families are especially vulnerable to negative effects of stay
at home rules as they tend to have sub-standard accommodations and more confined
spaces, making it difficult to engage in physical exercise.

The WHO recommends 150 minutes of moderate-intensity or 75 minutes of vigorous-

intensity physical activity per week. The benefits of such periodic exercise are proven
very helpful, especially in times of anxiety, crisis and fear. There are concerns therefore
that, in the context of the pandemic, lack of access to regular sporting or exercise routines
may result in challenges to the immune system, physical health, including by leading to
the commencement of or exacerbating existing diseases that have their roots in a
sedentary lifestyle.

Lack of access to exercise and physical activity can also have mental health impacts,
which can compound stress or anxiety that many will experience in the face of isolation
from normal social life. Possible loss of family or friends from the virus and impact of
the virus on one’s economic wellbeing and access to nutrition will exacerbate these
effects.

For many, exercising at home without any equipment and limited space can still be
possible. For those whose home life can involve long periods of sitting, there may be
options to be more active during the day, for example by stretching, doing housework,
climbing stairs or dancing to music. In addition, particularly for those who have internet
access, there are many free resources on how to stay active during the pandemic. Physical
fitness games, for example, can be appealing to people of all ages and be used in small
spaces. Another important aspect of maintain physical fitness is strength training which
does not require large spaces but helps maintain muscle strength, which is especially
important for older persons or persons with physical disabilities.

The global community has adapted rapidly by creating online content tailored to different
people; from free tutorials on social media, to stretching, meditation, yoga and dance

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classes in which the whole family can participate. Educational institutions are providing
online learning resources for students to follow at home.

Many fitness studios are offering reduced rate subscriptions to apps and online video and
audio classes of varying lengths that change daily. There are countless live fitness
demonstrations available on social media platforms. Many of these classes do not require
special equipment and some feature everyday household objects instead of weights.

Such online offerings can serve to increase access to instructors or classes that would
otherwise be inaccessible. However, access to such resources is far from universal, as not
everyone has access to digital technologies.

For individuals in poorer communities and in many developing countries, access to

broadband Internet is often problematic or non-existent. The digital divide has thus not
only an impact on distance banking, learning or communication, but also on benefitting
from accessing virtual sport opportunities. Radio and television programs that activate
people as well as distribution of printed material that encourages physical activity are
crucial in bridging the digital divide for many households living in precarious conditions.

Young people are particularly affected by social and physical distancing, considering
sport is commonly used as a tool to foster cooperation and sportsmanship, promote
respectful competition, and learn to manage conflict. Without sport, many young people
are losing the support system that such participation provided. Currently some
organizations, and schools have begun using virtual training as a method for leagues,
coaches and young people to remain engaged in sport activities while remaining in their
homes.

From the perspective of Bangladesh,

The recent COVID-19 pandemic has imposed threats on both physical and mental health
since its outbreak. This study aims to explore the impact of the COVID-19 pandemic on
mental health among a representative sample of home-quarantined Bangladeshi adults. A
cross-sectional design was used with an online survey completed by a convenience

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sample recruited via social media. A total of 1,427 respondents were recruited, and their
mental health was assessed by the DASS-21 measure. The prevalence of anxiety
symptoms and depressive symptoms were 33.7% and 57.9%,
respectively, and 59.7% reported mild to extremely severe levels of stress. Perceptions
that the pandemic disrupted life events, affected mental health, jobs, the economy and
education, predictions of a worsening situation, and uncertainty of the health care system
capacities were significantly associated with poor mental health outcomes. Multivariate
logistic regressions showed that sociodemographic factors and perceptions of COVID-19
significantly predict mental health outcomes. These findings warrant the consideration of
easily accessible low-intensity mental health interventions during and beyond this
pandemic.

4.3 ECONOMICAL ASPECT

While there is no way to tell exactly what the economic damage from the global COVID-
19 novel coronavirus pandemic will be, there is widespread agreement among economists
that it will have severe negative impacts on the global economy.
Early estimates predicated that, should the virus become a global pandemic, most major
economies will lose at least 2.4% of the value their gross domestic product (GDP) over
2020, leading economists to already reduce their 2020 forecasts of global economic
growth down from 3% to 2.4%. To put this number in perspective, global GDP was
estimated at around 86.6 trillion U.S. dollars in 2019 – meaning that just a 0.4% drop in
economic growth amounts to almost 3.5 trillion U.S. dollars in lost economic output.

However, these predictions were made prior to COVID-19 becoming a global pandemic,
and before the implementation of widespread restrictions on social contact to stop the
spread of the virus. Since then, global stock markets have suffered dramatic falls due to
the outbreak, and the Dow Jones reported its largest-ever single day fall of almost 3,000

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points on March 16, 2020 – beating its previous record of 2,300 points that was set only
four days earlier.
Estimated Global Impact on major industries:

• Global change in travel and tourism revenue due to COVID-19

• Global change in travel and tourism revenue due to COVID-19 by region

• Weekly flights change of global airlines due to COVID-19

• Weekly crude oil prices for Brent, OPEC basket

• Global PMI for manufacturing and new export orders

• COVID-19 - impact on auto demand from coronavirus by key market 2020

• Monthly global chemical production change due to COVID-19 by region

Now from the Bangladesh perspective,

Being in the corona war, policymakers worldwide are engaged in damage-control of the
economic losses at the moment and preparing for confronting the upcoming economic
crisis.
In addition, there are evidences and indications that financial and banking industries
around the globe might have to face remarkable instability in the forthcoming months.
Our government has already announced bail-out packages for the recovery.
Like, due to cancellation of nearly $3 billion worth of work-orders, Bangladesh RMG
industry got the attention quickly. Around 2 million workers in the industries may be
affected by this and on the other hand, around 4 million people are directly engaged with
the RMG sector backward linkage industries, accessories and packaging factories and
transportation sector.
Now, it is high time for the government as well as business enterprises to assess the
situation and chalk out a long-term plan to control damage. It is noteworthy to say that;
we should not start blame-game now and ask for assistances from the government only
due to the limitations and scarcity of resources of different agencies of government. But
the prime role of the government should be clear any unwanted obstacles and create
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opportunities among the economy by the way of sound and clear directives like monetary
& fiscal policies as well as tax structure to face the catastrophic situation.

The banking sector is the key player of the economic activities of any countries. As a
developing country-we need to be more watchful in terms of planning to get rid out of the
impact of COVID-19 outbreak. We are already suffering heavily due to NPLs and
unfortunately the outbreak may increase the level of NPLs in coming days. The NPLs can
be split up in two phases: 1. Pre-COVID NPLs & post- COVID NPLs in view to stare &
understand the fact more judiciously. Therefore, a new sets of BB guidelines need to be
initiated addressing the facts. It is pivotal to focus on the early bail-out plans for probable
collapse of large loans is essential for sustainability as many backward linkage, SMEs
and individuals are directly and indirectly correlated with these Large Loan borrowers.
Country's overall economic eco-system is standing on it; we need to make sure that this
should not collapse. But it is also true that, it is the peak time for every bank and other
non-banking financial organization to assess and reassess their overall lending portfolios
and withdraw some of their unnecessary and unwanted portion wisely.

The banking sector will face liquidity pressure as deposit growth and loan recovery also
declines. Private sector credit growth might go down during March 2020 to June 2020.
Cutting the cash reserve requirement (CRR) by 1% would add approximately inject Tk.
130 billion into banking sector liquidity.
In addition, Bangladesh Bank also relaxed the bar of Advance-Deposit Ratio (ADR) from
83.50 to 87%. Although the financial market especially the banking sector is battered
heavily due to regulated cap of rate of interest of deposit and advance very before of this
pandemic. Many willful borrowers may resort to take undue advantage of this regulation
and the industry may face this in bigger scale amid the pandemic. A threshold may be
initiated to identify the genuine sufferers and pass a resolution for safeguarding them
only.
But unfortunately, if the situation prolongs, at worst, the central bank might consider
hefty package to increase money supply but this may have impact on inflation of the
country, and can also announce a stimulating fiscal policy considering universal basic

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income (UBI) approach. But the task of distributing UBI to a large population is dubious,
even with the availability of mobile financial services. Therefore, a core operational task
force may be formed under the direct supervision of the central bank.
Now, if we turn around our eyes to the industrial sector-which is also suffering from the
deadly contagious disease. As we all know that, export diversification is always a key for
sustainable growth in earning foreign currency but regrettably we are heavily relying of
RMG sector. This sector asserts that, 85% of the country's' export earnings come through
the RMG sector. We failed to diversify our export basket, thus creating a huge risk in our
export portfolios. The response against the outbreak and its impact on the industrial
sector is so far admirable, yet this pandemic also poses an economic and humanitarian
crisis. The prime minister was right to identify this as a challenge and announced an
emergency stimulus package of $8.5 billion (equivalent to 2.5% of GDP) for bridge
financing of the working capital of small and distribute food aid through Bangladesh's
existing social safety programs as only 15% of the Bangladeshi population earns over $6
a day, and over 90% of the workforce belongs to the informal sector. As Bangladesh
Government does not have enough fiscal space to make large stimulus packages due to
low tax-to-GDP ratio, the only possible option is monetary expansion, which most
developed economies have already deployed.
According to the forecast released by the Economist Intelligence Unit on 26 March, the
global economy is expected to contract by 2.2% in 2020. These effects are expected to be
more exposed in major G20 economies, such as Germany, Italy, the United Kingdom and
the US - all countries that are major markets for Bangladesh's most vital tradable good:
readymade garments. The depressed oil prices will also lead to a strong reversal of
growth in the Middle East and North Africa region, which is also home to a large
Bangladeshi diaspora, who send back close to $20 billion every year. In the coming
months, there can be no doubt that there will be a decrease in remittances and that these
second-degree impacts will also be felt in the country, painfully in rural Bangladesh,
where families rely heavily on remittances for their survival.
However, in this critical situation, banks and other financial institutions must take due
preparation to accelerate economic recovery in the post-covid-19 situation where the
board and top management have critical role to play. Crisis preparedness would be a key

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to bring stability. Strategies need to be proclaimed clearly so that all workforces ensure
preparing themselves as effective as well as efficient at this stage for damage-control.

4.4 PSYCHOLOGICAL ASPECT

The outbreak of COVID-19 caused by severe acute respiratory syndrome coronavirus 2
(SARS-CoV-2) infection in the Chinese city of Wuhan, a situation of socio-economic
crisis and psychological distress rapidly occurred worldwide. Although social activities
have been restricted in most countries, almost all not essential individual movements
were prohibited due to quarantine, while the local hospitals received suddenly thousands
of critically ill COVID-19 patients and were forced to implement their emergency
protocols.

In this context, the general population as well as most of the front-line healthcare workers
became vulnerable to the emotional impact of COVID-19 infection due to both the
pandemic and its consequences worldwide.

Many psychological problems and important consequences in terms of mental health

including stress, anxiety, depression, frustration, uncertainty during COVID-19 outbreak
emerged progressively. Common psychological reactions related to the mass quarantine
which was imposed in order to attenuate the COVID-19 spread are generalized fear and
pervasive community anxiety which are typically associated with disease outbreaks, and
increased with the escalation of new cases together with inadequate, anxiety-provoking
information which was provided by media.

The psychological reactions to COVID-19 pandemic may vary from a panic behavior or
collective hysteria to pervasive feelings of hopelessness and desperation which are
associated with negative outcomes including suicidal behavior. Importantly, other health
measures may be compromised by abnormally elevated anxiety.

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As the general population became increasingly exposed, anxiety-provoking topics related
to this emergence of the health and socio-economic crisis need to be rapidly identified to
early detect dysfunctional processes and maladaptive lifestyle changes potentially leading
to the onset of psychiatric conditions. Existing evidence clearly showed the most relevant
and profound psychological impact of the outbreaks on the general population.

That summarized the most relevant psychological reactions in the general population
related to COVID-19 infection. Although a specific and uncontrolled fears related to
infection, pervasive anxiety, frustration and boredom, loneliness have been hypothesized
to impair subjective wellbeing and quality of life, resilience and enhanced social support

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are protective factors that may help with regard to lifestyle changes and re-adaptation
mechanisms.

This is commonly one of the most frequent psychological reaction to pandemics. Several
existing studies demonstrated that those who have been exposed to the risk of infection
may develop pervasive fears about their health, worries to infect others and fear infecting
family members. These individuals are more vulnerable than others to manifest worries if
they experienced physical symptoms potentially linked to the infection and fear that
symptoms are directly associated to actively having the infection even several months
after the exposure. Other studies reported that pregnant women and individuals with
young children are the most at risk to develop the fear of becoming infected or
transmitting the virus.

From the perspective of Bangladesh,

Bangladesh is still in the regime of accessing the actual number by expanding diagnostic
facilities. The country is suspected to spread the disease by the home-returned people
from Italy. The BBC reports half million people travelled Bangladesh from abroad in the
early March, only 10% of them traced to ensure quarantine; as a consequence, movement
restriction called in the last week of the month. BBC also reports, fear of contagion is
affecting our behavior and psychological habilitation tending to express ourselves in an
abnormal approach. psychological issues. Studies comment that the emotional impact is
mainly a response to fear, the reasons are a few.

Primarily due to the viral outbreak, the mortality rate, essential restriction of mobility,
insecurity about future, media reports, social media and connectivity creates a social
panic. Also increasing number of the attack on medical staffs are creating a sense of
“collective hysteria” and spreads fear even in the days of locked down exploding the
expected fate of mortality.[4] Secondarily, in a locked down situation, the general people
staying in a monotonous, unusual and anxious state at home experiencing helpless
blaming others to be responsible and slowly progressing to the mental breakdown. The
confirmed or isolated cases are prone to have a traumatic experience of fearing to die.
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The people staying in quarantine can feel bored, alone, anger, depressed, sleeping
disturbance and panic that may lead to self-herm, emotional outburst and substance
abuse. Also, psychological issues may be profound in the close friend, family and
relatives of the suspected or confirmed cases. A study in china revealed more than half of
the inhabitants reported moderate to severe psychological symptoms immediately after
the outbreak, nearly one third had similar anxiety-related disorders and one fifth showed
moderate to severe stress-related impairments in their quarantine life.

Lastly, there is a profound impact on economy due to locked down situations in the
markets, offices and business organizations, restriction of movement and the obligations
to stay at home. Majority of the Bangladeshi population is depending on a regular income
and they are uncertain about when they can return to work, these are making a
confounding impact on their mental health.

4.5 SOCIAL ASPECT

The COVID-19 outbreak affects all segments of the population and is particularly
detrimental to members of those social groups in the most vulnerable situations,
continues to affect populations, including people living in poverty situations, older
persons, persons with disabilities, youth, and indigenous peoples.
Early evidence indicates that that the health and economic impacts of the virus are being
borne disproportionately by poor people. For example, homeless people, because they
may be unable to safely shelter in place, are highly exposed to the danger of the virus.
People without access to running water, refugees, migrants, or displaced persons also
stand to suffer disproportionately both from the pandemic and its aftermath – whether
due to limited movement, fewer employment opportunities, increased xenophobia etc.
If not properly addressed through policy the social crisis created by the COVID-19
pandemic may also increase inequality, exclusion, discrimination and global
unemployment in the medium and long term. Comprehensive, universal social protection

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systems, when in place, play a much durable role in protecting workers and in reducing
the prevalence of poverty, since they act as automatic stabilizers. That is, they provide
basic income security at all times, thereby enhancing people’s capacity to manage and
overcome shocks.

4.5.1 Older Persons

Older persons are particularly susceptible to the risk of infection from COVID-19,
especially those with chronic health conditions such as hypertension, cardiovascular
disease and diabetes.

Older persons are not just struggling with greater health risks but are also likely to be less
capable of supporting themselves in isolation. Although social distancing is necessary to
reduce the spread of the disease, if not implemented correctly, such measures can also
lead to increased social isolation of older persons at a time when they may be at most
need of support.

The discourse around COVID-19, in which it is perceived as a disease of older people,

exacerbates negative stereotypes about older persons who may be viewed as weak,
unimportant and a burden on society. Such age-based discrimination may manifest in the
provision of services because the treatment of older persons may be perceived to have
less value than the treatment of younger generations. International human rights law
guarantees everyone the right to the highest attainable standard of health and obligates
Governments to take steps to provide medical care to those who need it. Shortages of
ventilators, for example, necessitate the adoption of triage policies and protocols based on
medical, evidence-based and ethical factors, rather than arbitrary decisions based on age.

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4.5.2 Persons with Disabilities

Even at the best of times, persons with disabilities face challenges in accessing health-
care services, due to lack of availability, accessibility, affordability, as well as stigma and
discrimination. The risks of infection from COVID-19 for persons with disabilities are
compounded by other issues, which warrant specific action: disruption of services and
support, pre-existing health conditions in some cases which leave them more at risk of
developing serious illness or dying, being excluded from health information and
mainstream health provision, living in a world where accessibility is often limited and
where barriers to goods and services are a challenge, and being disproportionately more
likely to live in institutional settings.

General individual self-care and other preventive measures against the COVID-19
outbreak can entail challenges for persons with disabilities. For instance, some persons
with disabilities may have difficulties in implementing measures to keep the virus at bay,
including personal hygiene and recommended frequent cleaning of surfaces and homes.
Cleaning homes and washing hands frequently can be challenging, due to physical
impairments, environmental barriers, or interrupted services. Others may not be able to
practice social distancing or cannot isolate themselves as thoroughly as other people,
because they require regular help and support from other people for every day self-care
tasks.

To ensure that persons with disabilities are able to access to information on COVID-19, it
must be made available in accessible formats. Healthcare buildings must also be
physically accessible to persons with mobility, sensory and cognitive impairments.
Moreover, persons with disabilities must not be prevented from accessing the health
services they need in times of emergency due to any financial barriers.

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4.5.3 Youth

Many governments have called on youth to embrace the effort to protect themselves and
the overall population. Youth are also in a position to help those who are most
vulnerable, and to aid in increasing public health social awareness campaigns among
their communities. Thus, youth are critical to limiting the virus’s spread and its impact on
public health, society, and the economy at large.

In terms of employment, youth are disproportionately unemployed, and those who are
employed often work in the informal economy or gig economy, on precarious contracts
or in the service sectors of the economy, that are likely to be severely affected by
COVID-19.

More than one billion youth are now no longer physically in school after the closure of
schools and universities across many jurisdictions. The disruption in education and
learning could have medium and long-term consequences on the quality of education,
though the efforts made by teachers, school administrations, local and national
governments to cope with the unprecedented circumstances to the best of their ability
should be recognized.
Many vulnerable youth such as migrants or homeless youth are in precarious situations.
They are the ones who can easily be overlooked if governments do not pay specific
attention, as they tend to be already in a situation without even their minimum
requirements being met on health, education, employment and well-being.

4.5.4 Indigenous Peoples

Indigenous peoples are particularly vulnerable at this time due to significantly higher
rates of communicable and non-communicable diseases, lack of access to essential
services, absence of culturally appropriate healthcare, and if any, under-equipped and
under-staffed local medical facilities.

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The first point of prevention is the dissemination of information in indigenous languages,
thus ensuring that services and facilities are appropriate to the specific situation of
indigenous peoples, and all are reached.

The large number of indigenous peoples who are outside of the social protection system
further contributes to vulnerability, particularly if they are dependent on income from the
broader economy – produce, tourism, handicrafts and employment in urban areas. In this
regard, Governments should ensure that interim financial support measures include
indigenous peoples and other vulnerable groups.

Indigenous peoples are also seeking their own solutions to this pandemic. They are taking
action and using traditional knowledge and practices as well as preventive measures – in
their languages.

From the perspective of Bangladesh,

The COVID-19 has caused gigantic negative effects on populace wellbeing, society,
education, and the economy in Bangladesh. The aim is to deliver a comprehensive
overview of the observed and the possible impacts that could appear in the coming days.
The study is based on secondary information. During the early period, due to a lack of
accurate facts about the case affected and death tension up-and-down among the nations.
The total number of confirmed cases is increasing following geometric patterns in
Bangladesh. Dairy farmers, vegetable producers, pharmaceuticals, poultry farmers are in
deep crisis due to lower prices. Also, the pandemic has seriously affected educational
systems, banking, FDI, ready-made garments, remittances, etc.
Finally, it is not possible to mitigate the effects of pandemic individually but the
integrated effort from the state authority as well as concern people of all sectors need to
come forward.

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 4.6 COMPARISON OF PREVIOUS AND CURRENT SITUATION
DUE TO COVID-19

4.6.1 Previous Situation Before COVID-19

• Working people were in a settled position in terms of financial solvency.

• Different Industries were enriched sector and potential field for building
career.
• Worldwide economic status was in balance and financial conditions of
individuals were constant.
• Based on the demand of consumers, supply and productions were in a flow
and intense co-sectors were building continuously.
• Fresher’s have been encouraged to build their career in different industry
based on their skills and interest.
• According to the career potentiality in various sector, numerous open courses,
diploma and major courses have been introduced to the students academically.
• There were various potential business opportunities.
• People could move worldwide whenever needed either for working purpose or
for tour and travelling purpose.
• Life was normal in workplaces and certain flow was there.
• All kind of goods and services were conducted in a systematic way/
• Organizations were running smooth and profitable.
• Education sector was never in standstill situation.
• World economy was growing with a certain flow.

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 4.6.2 Present Situation during COVID-19
• Global economy is facing the most terrific threat and uncertainty.
• As a result, massive people are facing job cuts as well as financial crisis.
• The most vital sector like education is in standstill mode in most of the
countries, which is pushing down the future in another uncertainty.
• The newly graduates are losing the scopes of getting hired
• Informal workers are mostly in shattering condition.
• Organizations are falling out of revenue and profit margins as well.
• Various rapidly growing sectors are now in standstill situation.
• Industries are facing huge loss because of this pandemic maintaining the
social distance issue.
• Airlines have cancelled flights, while hotels are almost completely vacant as a
result, tourism agencies are facing huge economic losses.
• As this pandemic has caused in massive shutdowns since more than 5months,
all kind of industries have reached to the uncertainty and causing job cuts.

4.7 POST SITUATION OF COVID-19

• Economic will certainly raise but it will definitely take time.
• Profit margin of most of the organizations may be lessened for a certain period of
time.
• Enormous promotion strategies and different offers will be need according to the
different kind of businesses.
• Based on the coming situation, marketing strategies can be revised and improved.
• The career potentiality of any industry will be more competitive and challenging.

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 Chapter

05

- Major Findings -

40 | P a g e
 5.0 MAJOR FINDINGS

The COVID-19 is now a global pandemic and World health organization (WHO) notified

South East Asian countries to take effective measures. However, countries (like

Bangladesh) with a poorly structured health sector and a high population density are

struggling to cope the challenges.

To prospect the impacts of COVID-19 on these (Physicians, Teachers, Corporates, Daily

Workers and Entrepreneurs) working people, I have gathered their experiences who has

to serve their families financially from their professional fields or has a vital financial

contribution. To get the exact outcome I did a survey (from the context of Bangladesh)

within my limit during this pandemic situation based on very basic 5 questions and

analyzed those as factors to reach the findings and those factors are:

• how they are coping with their profession in this COVID-19 situation

• if they have job security even in this pandemic

• if the COVID-19 decreased their regular income scale

• if they are getting paid on time

• if they are feeling safe in their work place

1.Analysis from the Physicians

✓ Majority of the physicians have no choice except risking their own life to serve

the nation. They are dealing with their patients and hospital duty as like regular

flow even more intensely than before. The new doctors and the interns are mostly

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 serving through online as many online medical services have been introduced in

this pandemic to consult for and guideline over telephone calls, skype video calls

etc. The doctors, whoever is serving the COVID patients directly are staying away

from their own family and providing the service in rostering basis in a month.

There is no scope to stay away from their own duty as they are bound to serve the

nation unconditionally. So, they are basically serving from home and physically

as well.

✓ They are not facing job cutting threat till now but many of the physicians from are

complaining about their salary scale is not worthy comparing to their effort even

in this pandemic period.

✓ Their income scale has not decreased till now but no extra remuneration or

compensation has been added also, whereas the foreign countries are providing so

many extra benefits for their physicians.

✓ Some physicians are claiming that their salary is being pending sometimes.

✓ They do not feel safe at their workplace or hospitals as various gathering is

occurred and their personal protection supplies are not that much highly improved

as like the foreign physicians.

2.Analysis from the Teachers

✓ On the other hand, the teachers are fully working from home as all the educational

institutions are fully shut down since the outbreak has been started according to

the Government’s instructions. They are providing their service through online

classes and tele communication consultation.

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 ✓ Teachers from public institutions are still under the job security shed but the

teachers from private institutions are facing the challenge of surviving in the jobs

unless they are very much experienced.

✓ The teachers of govt. approved institutions or the public institutions have the

income scale safe till the date but most of the private institutions are not ensuring

the income scale as before, either its decreasing percentage wise or the very new

teachers are losing their job or unpaid service.

✓ The regulation of the salary disbursement or payment is varying institution’s

pandemic policy wise. But mostly are getting paid on time.

✓ They are fully safe from the workstation perspective comparing to the other

occupations. As they are not taking physical class, only online class or the work

from home policy is ensuring their safety.

3.Analysis from the Corporates

✓ Corporates from different organizations are also coping differently as per their

company policies. Some are privileged to work from home, some are not. Even

some organizations are following weekly rostering policy for their employees.

But not every local companies in the countries like Bangladesh are allowing the

privilege of work from home, so they are actually facing the risks everyday but

having no other way out, they are working this way to save their jobs. The

opportunity of working from home, is mostly given by the multinational

companies like Google Inc., Microsoft, Amazon, Uber etc.

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 But from the perspective of our local companies of Bangladesh are not able to

declare these kinds of notice.

✓ They are in very vulnerable situation in terms of job security, frequently job

cuttings are occurring to minimize the cost. So, most of the corporates are not

feeling safe to survive in their jobs.

✓ Most of the Bangladeshi local companies have declared to decrease the regular

salary according to one’s gross salary in a certain percentage basis.

✓ Not every organizations are paying their employees on time except very well-

established companies. Specially the start up companies have pending salary, so

the employees are also bearing this challenge.

✓ Whoever is getting the privilege to work from home is safer than the regular

physically office comer undoubtedly. But the organizations are trying their level

best to ensure the employee’s workplace safety.

4.Analysis from the Daily workers

✓ The daily workers or informal workers are in very crisis period right now to cope

up with, they are not bothered about the contingency rather they are seeking for

job every day to feed their families. But due to the COVID-19 they become out

of works than previous.

✓ They do not have job security at all. They are getting in job only on the demand

basis.

✓ Without any doubt, their regular income scale has decreased drastically than

before due to COVID-19

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 ✓ They are getting paid only when they are in a job

✓ They are not safe in their workplace at all.

5.Analysis from the Entrepreneurs

✓ Entrepreneurs are facing much challenges during this pandemic to cope up with.

They are is financial threat and the surviving is more than anything right now.

✓ Their survival and ensuring their core employee job security is the only concern

now.

✓ Income scale has fallen down drastically comparing to the previous days of

COVID-19.

✓ Regular income is also uncertain for the entrepreneurs now but depending on the

business category, it is varying.

✓ According to the business category, their safety in workplace also varies. But

following the others, they are also trying to ensure the safety measurements on the

basis of their limitations.

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 Chapter

06

- Recommendations -

46 | P a g e
 6.0 RECOMMENDATIONS

Bangladesh need to employ a series of recommendations concentrating on economy,

health care and social aspects. During the outbreak and post-outbreak period of COVID-
19 as fear and panic occur due to limited knowledge or poor adaptability and coping or
inadequate healthcare policy on these issues. It is recommended as a part of preparedness,
building a community team, assistant team, rescue team and specialist team on these
aspects aiming to provide social support, online service, psychotherapeutic interventions
and monitoring and training of the subordinates subsequently.
Numerous studies suggested in favor of online response, training, support and counseling
on mental health for health care professionals themselves, public service holders, youth,
elderly and a person with disabilities, prisoners and elderly populations.
In Bangladesh, the psychological impact of COVID-19 pandemic seems to affect
significantly to the younger population, health care workers, diagnosed individuals and
their family and relatives and the people living in a quarantine. A comprehensive strategy
needed to meet the spreading challenge of physical and mental health crisis in this
potential horizon of COVID-19.

After the pandemic gets in a controllable or tolerance level, the initiatives can be
taken in two ways to recover the financial losses-

1. Short Term Solution-

• Govt. has the most vital role and then the leading business icons to play in
this crisis situation to overcome.
• The industries will be needing a significant amount of financial and policy
level support from the Government to control the economic damage.
• Different Ministry has different but a vital role to play here.
• Micro-enterprises that are in the most need of the support should be
identified and prioritized to provide with required aids most.
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 • Lucrative offers or discounts can be introduced to attract the service-based
organizations but ensuring the safety measurements.

2. Long Term Solution-

• Leading business industries should focus on promoting the health and well-
being of people & environment first.
• A strategic framework should be started as early as possible for early post-
pandemic recovery of all kind of business industries.
• Online training schemes and efficiency in digital skills should be more
emphasized as the future will be leaded by these.
• Economists and Marketing specialists should innovate newer policies
concerning to this kind of certain pandemic for coming future anymore.

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 Chapter

07

- Conclusion -

49 | P a g e
 7.0 CONCLUSION

As pandemic just spread in Bangladesh the end of this pandemic is uncertain till now. In
this situation recovery from disease is the main concern rather than considering the
economic impact.
Overall, the current economic situation may seriously undermine the livelihood of the
underprivileged population. Lack of access to basic healthcare, knowledge of hygiene
and social safety net have always been a challenge for this cohort and the pandemic is
likely to increase these challenges, exponentially. The issues that need to be emphasized
in the development of agriculture currently as the only sector left for us to survive with,
instead of the RMG sector. Detailed analysis and solid evidence needed for effective
decision-making on a number of critical social and economic issues – including
designing inclusive stimulus packages; preventing a global debt crisis; supporting
the unprivileged people in special situations; protecting the most vulnerable groups
of people; strengthening the role of science, technology and institutions for an
effective response; and working together to build back better and achieve a
sustainable development.
The government should encourage pharmaceutical players to invest in their research and
development processes to increase their capacity to ramp up production of possible
vaccines as soon as possible. Last but not least, those patients in coronas are not deprived
of healthcare.

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 - Bibliography -

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 BIBLIOGRAPHY

REPORT
Report sample by our course faculty as structure guideline

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