1. With reference to the above case identify and profile an upcoming entrepreneur in your community and further assess how their business has been affected by the COVID-19 pandemic. Describe the importance of strategic planning for entrepreneurs especially at this time.*describe how strategic planning can be adopted by this entrepreneur during this time.2. With reference to the above case in which the entrepreneur has been identified, state which three main resources the entrepreneur would require to revive their business and how would they use these resources to do so.*Any three resources could be identified the must relate to the business. Whether it's the massive number of employees using their employee benefits like healthcare andburdening startups or the declining productivity of employees, getting through the other end of thispandemic will mean surviving a number unprecedented challenges.Closing down the premisesAs part of the preventive measure, an increasing number of countries are practicing social andcommercial lockdown, except for healthcare and other necessary business. The closing down orrestriction of running operations is profoundly affecting the performance of startups and otherorganizations. For a lot of small businesses, their management systems are either not adequatelyestablished to can't be fully taken online. This is again turning out to be another reason for concern.Even though authorities have ordered businesses to shut down their premises, and as part of the socialdistancing, employees are expected to function as a virtual workforce without letting their productivitydrop, which is a bit too much to ask for, given the current situation.As the coronavirus continues to spread throughout the world, particularly in urban areas, it onlyincreases the chances of more workplaces closing down or going virtual. However, there are alsobusinesses, like Tekrevol, who are going the extra mile. They are providing their employees with allthe necessary equipment and help them adopt digital platforms to ensure they are safe, healthy, andmaintain some sense of purpose in these challenging times. How Will the Outbreak of COVID-19 Affect the Entrepreneur and Start-up Ecosystem?Asim Rais Siddiqui- April 7, 2020In just a couple of weeks, the preventive measures for COVID-19 have already started showing drasticeffects. In the last month, Italy went under country-wide lockdown, California and New York, the twomajor states in the US have also announced emergency status, and several other countries areexercising lockdowns up to various degrees.In the times where people need to stay indoors and awayfrom each other, the challenges startups face, particularly the ones with a high physical component,are only increasing. The world post the coronavirus pandemic, where research for cures is on the peak,companies like Google and Zoom are coming through for entrepreneurs and startups, allowing themto leverage their tech solutions.How the startups are more vulnerableAs a result of some of the preventive measures taken by governments worldwide to control thepandemic, small businesses, startups, and entrepreneurs have come out to be one the most vulnerablegroups that have been directly affected by these measures. Whether it's the preventive measures orthe general chaos, COVID-19 has caused extreme disruption socially and economically. However, itturns out tech giants like Apple feel the consequences of the pandemic as sharply as startups.Decline in productivityIn the digital age, most of the newly formed businesses and startups have been adopting the leanorganization structure, which means more cross-functional roles. With facilities being shut down, evena small decrease in employees' productivity can build up serious problems for the businesses.Besides, these tough times also require additional time and attention on societal needs, such as tokeep up with the global reactions and monitor possible development of the virus around the proximity.One also has to be more attentive towards personal needs like household concerns, taking care of thefamily, and ensuring the stable mental health of family and their own. No one can doubt these aretough and unprecedented times, but the cumulative impact of the loss of staff productivity spread overweeks and possibly months will be very tough to handle for businesses worldwide.

“Since you have asked multiple questions, we will solve the first question for you. If you want any…

Answered: strategic planning

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE