The pandemic brought to light how many businesses were dependent on a small group of suppliers, mostly in China.
Market Risk is a risk issue that any organization may encounter.
- Credit Danger.
- Risk of Liquidity.
- Risk in operations.
<h3>Why pandemic is a threat to business?</h3>
Along with endangering the general public's health, the economic and social upheaval endangers the long-term livelihoods and general wellness of millions of people. The pandemic has a significant impact on labor markets, economies, and businesses, as well as worldwide supply chains, causing significant commercial disruptions.
The epidemic was detected through historic declines in output in almost all important economies. The second quarter of 2020 saw an 8.9% decline in U.S. GDP, which is the biggest single-quarter decrease in more than 70 years (BEA 2021c). Numerous other significant economies fared even worse.
The social and financial costs of the pandemic are numerous and varied, ranging from college closures to decimated sectors and hundreds upon thousands of jobs lost. Threatened with widening global inequality and undermining development, COVID-19.
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