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Post Pandemic Alterations in
Entrepreneurship
The Pandemic- Big Bull! has certainly There were 2 primary questions in the mind
changed the history and shaped the new of every businessman :
future. India has taken a more cautious 1. How can we better equip vulnerable
approach and there was complete lockdown populations with assets that can provide
with no effective mitigation. This imposition resilience and security?
of lockdown resulted in unemployment 2. How can we catalyse economic recovery
and recession. The trend of globalization and help businesses recover after a major
took a toll and was effectively reversed as event?
movement of people was restricted.
The dynamics of the outbreak has Pandemic acted as a major driver who
substituted the past patterns of an checked in into unconventional solutions
entrepreneur and the business landscape. of these questions. There was a dramatic
The impact of which is substantial in influx of start-ups and business owners who
the future course. It certainly came with ditched the traditional approach. Not just
adversities which economically and entrepreneurship but people also started
psychologically impacted people. Problems looking for parallel income and thus it gave
related to Labour Shortage, Delay in birth to ‘Gig Economy’. The irony is, where a
Payments, Financial Instability, Business company faced biggest shutdown, someone
Operations, Supply & Demand, Adaption to bagged billion dollars’ deal. But what was so
the New Normal, Change in Consumption indifferent? The intervention of Technology
Pattern, Unpredicted Future had created & Automation, Digital Solutions, Shaping the
myriads of complication. Initially, markets new Consumption Pattern, identification
panicked because of lack of knowledge of new opportunities and scrapping the
and implications of Covid-19.Certain traditional approach. These changes were
Industries has faced the heat : Travel, not overnight. The practices were outlined
Airlines, Restaurants, Hospitality, or contact- and integrated over a period time through
intensive services. However few sectors trial & error and estimating the probability
have seen it’s peak during the outbreak: of success.
Healthcare, Pharmaceutical, Consulting,
Tech Enabled Business, Subscription Based
products, E-commerce, Logistics are few to
name it.
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