Answered: What are the changes that happen to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What are the changes that happen to companies to firms as a result of COVID-19. Provide a clear framework of analysis.

Expert Solution

Step 1

The changes that happen to companies/firms as a result of COVID-19 are as follows:

Adopting the new cultures i.e. work from home: The companies/firms that are engage in supplying services should follow this new culture for employees i.e. work from home.
Adopting Cost cutting methods: As due to this pandemic it became difficult to survive in the market due to which a new policy for cost cutting should be implemented. The aim should be to incur expenditure to those which provide some values to the organization and eliminate those expenses that don’t add value to the organization.
Arrangement of finance: Most of the business houses need an immediate finance to operate normally after such a pandemic. Governments are also helping the small business houses to provide a low interest rate of borrowing and easy repayments terms of the borrowing.

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