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.

Transcribed Image Text:Whether it's the massive number of employees using their employee benefits like healthcare and burdening startups or the declining productivity of employees, getting through the other end of this pandemic will mean surviving a number unprecedented challenges. Closing down the premises As part of the preventive measure, an increasing number of countries are practicing social and commercial lockdown, except for healthcare and other necessary business. The closing down or restriction of running operations is profoundly affecting the performance of startups and other organizations. For a lot of small businesses, their management systems are either not adequately established 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 social distancing, employees are expected to function as a virtual workforce without letting their productivity drop, 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 only increases the chances of more workplaces closing down or going virtual. However, there are also businesses, like Tekrevol, who are going the extra mile. They are providing their employees with all the necessary equipment and help them adopt digital platforms to ensure they are safe, healthy, and maintain some sense of purpose in these challenging times.
Transcribed Image Text:How Will the Outbreak of COVID-19 Affect the Entrepreneur and Start-up Ecosystem? Asim Rais Siddiqui- April 7, 2020 In just a couple of weeks, the preventive measures for COVID-19 have already started showing drastic effects. In the last month, Italy went under country-wide lockdown, California and New York, the two major states in the US have also announced emergency status, and several other countries are exercising lockdowns up to various degrees.In the times where people need to stay indoors and away from 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 them to leverage their tech solutions. How the startups are more vulnerable As a result of some of the preventive measures taken by governments worldwide to control the pandemic, small businesses, startups, and entrepreneurs have come out to be one the most vulnerable groups that have been directly affected by these measures. Whether it's the preventive measures or the general chaos, COVID-19 has caused extreme disruption socially and economically. However, it turns out tech giants like Apple feel the consequences of the pandemic as sharply as startups. Decline in productivity In the digital age, most of the newly formed businesses and startups have been adopting the lean organization structure, which means more cross-functional roles. With facilities being shut down, even a 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 to keep 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 the family, and ensuring the stable mental health of family and their own. No one can doubt these are tough and unprecedented times, but the cumulative impact of the loss of staff productivity spread over weeks and possibly months will be very tough to handle for businesses worldwide.

Question

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 and
burdening startups or the declining productivity of employees, getting through the other end of this
pandemic will mean surviving a number unprecedented challenges.
Closing down the premises
As part of the preventive measure, an increasing number of countries are practicing social and
commercial lockdown, except for healthcare and other necessary business. The closing down or
restriction of running operations is profoundly affecting the performance of startups and other
organizations. For a lot of small businesses, their management systems are either not adequately
established 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 social
distancing, employees are expected to function as a virtual workforce without letting their productivity
drop, 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 only
increases the chances of more workplaces closing down or going virtual. However, there are also
businesses, like Tekrevol, who are going the extra mile. They are providing their employees with all
the necessary equipment and help them adopt digital platforms to ensure they are safe, healthy, and
maintain 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, 2020
In just a couple of weeks, the preventive measures for COVID-19 have already started showing drastic
effects. In the last month, Italy went under country-wide lockdown, California and New York, the two
major states in the US have also announced emergency status, and several other countries are
exercising lockdowns up to various degrees.In the times where people need to stay indoors and away
from 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 them
to leverage their tech solutions.
How the startups are more vulnerable
As a result of some of the preventive measures taken by governments worldwide to control the
pandemic, small businesses, startups, and entrepreneurs have come out to be one the most vulnerable
groups that have been directly affected by these measures. Whether it's the preventive measures or
the general chaos, COVID-19 has caused extreme disruption socially and economically. However, it
turns out tech giants like Apple feel the consequences of the pandemic as sharply as startups.
Decline in productivity
In the digital age, most of the newly formed businesses and startups have been adopting the lean
organization structure, which means more cross-functional roles. With facilities being shut down, even
a 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 to
keep 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 the
family, and ensuring the stable mental health of family and their own. No one can doubt these are
tough and unprecedented times, but the cumulative impact of the loss of staff productivity spread over
weeks and possibly months will be very tough to handle for businesses worldwide.

Accepted Answer

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