An unprecedented human mood and mindset is emerging in front of us – seven billion people affected in nearly 200 countries, the pandemic has sickened more than 1.2 million people with over 68,000 dead.
When you consider this disastrous picture, can the business and human behaviour remain unaffected?
Let me do some crystal ball gazing to paint a picture as to how businesses and business executives could behave in the short and medium term. The long term looks too uncertain to envisage at this moment.Short-term shifts
- Indoor exercising options have enhanced with video guides motivating many of us to practice in-home-walking, freehand-exercises or yoga.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
To track all live updates from the coronavirus pandemic, click here…When it comes to ‘business’, the immediate actions which are perhaps prevalent are:
- The finance folks are making sure to get their financiers to behave supportively.Medium-term transformation
- Wearing face masks in public for the next few months may become a new normal.
- Countries like Italy will require large immigrants. This may be a great opportunity for our young and educated.Last wordsSome anti-viral medicines are under advanced trials. Initial clinical data for the drug (not a vaccine) that has shown the most promise is ‘remdesivir’. It is expected to be available in the coming months.
Thus, hope comes hand-in-hand with despair. The world is not coming to end. It will just change the way we eat, learn, work and behave.
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Glory in living lies not in failing, but in rising every time we fail. COVID-19 has almost been squashed in China. It is only time before it gets subjugated elsewhere. Humans will rise from the ashes for a new beginning. Especially, we Indians!The author is a Managing Director at Caprihans India, one of the oldest and largest polyvinyl chloride (PVC) film manufacturers in India. In his career spanning over 35 years, he was Group CFO at Suzlon Group and Executive Director at Essar Steel and Thomas Cook among other senior positions. He can be reached at email@example.com