Critical Analysis of the Impact of Covid-19 on Organizational Performance in the Non-manufacturing Sector – Evidence From Dreamworks Integrated Systems Limited
Chapter One
Objective of the study
The following objectives of the study will be ascertained
- To highlight the effect of lock down on the financial performance of dreamworks integrated systems limited
- To determine the effect of COVID-19 infection on the performance of dreamworks integrated systems limited in Lagos
- To determine the coping strategies for the financial performance of dreamworks integrated systems limited.
CHAPTER TWO
LITERATURE REVIEW
Insight about Coronavirus COVID-19
Coronavirus (COVID-19) is an infectious disease caused by a newly discovered coronavirus. World Health Organisation has declared coronavirus as a global pandemic without cure or vaccine. Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover sometimes without requiring special treatment. Older people and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness (Ukata&Onuekwa, 2020). The best way to prevent and slow down transmission is to be well informed about the COVID19 virus, it causes and how it spreads. The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes, so it is important that you also practice respiratory etiquette (for example, by coughing into a flexed elbow or handkerchief) (World Health Organisation, n.d). Most infected people will develop mild to moderate illness and recover without hospitalization. Most common symptoms are: fever, dry cough, and tiredness. Others are aches and pains, sore throat, diarrhoea, conjunctivitis, headache, loss of taste or smell and a rash on skin, or discolouration of fingers or toes. This pandemic has halted all global human economic activities and threatened with trembled the existence of man engrossed with fear because of the inexplicable high rate of transmissions and deaths recorded across the globe, Nigeria with her poor health system included. Across the nations, educators are responding valiantly to the unprecedented health crisis and its ramifications for students, educators, and communities. Leaders and staff are charting new course for this unique time. Educators’ efforts to navigate through this challenging situation and commitment to their students as an inspiration for success of their dreams, Nigeria cannot be exceptional(Ukata&Onuekwa, 2020). The COVID-19 virus spreads primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes, so it is absolutely impossible to carry on with the traditional classrooms management of teaching and learning of face-to-face interactions between teachers (lecturers and students, students and students), as well as the non-academic staff and management. As such, the urgent need for the application of ICT towards minimizing traditional classrooms challenges of teaching and learning during covid-19 pandemic in Rivers state tertiary institutions. The three approaches of ICT in education are the (1): form of lesson units or workshops for students and teachers, (2): ICT as a means of information storage and retrieval and a method of doing research, and (3) ICT as the channel for delivering and receiving instruction (Baydas&Goktas, 2016).
The Linkage between COVID-19 Pandemic and business Performance
The deadly disease (COVID-19) has spread to almost everywhere in the world at an incomparable level. Governments are uncertain when the virus will vanish and the infection decline. In trying to tackle the spread of the virus, many countries have lockdown all or part of their country in an attempt to prevent the spread of the virus. Therefore, because of the lockdown business and economic activities have been affected and have weakened the available human and economic resources such as workmen, materials, transport, etc (Craven, Liu, Mysore, & Wilson, 2020). This has caused the closure of many businesses and equally affected their performance. The lockdown, movement restriction, market closure, and social distancing as announced by the government has also truncated the movement of goods and services which stand as the backbone and which the SMEs depend on for their smooth routine activities. SMEs together with their employees are an integral part of social and economic systems of day-to-day life globally. This important role played by SMEs now is facing threats from unmatched effects of coronavirus. The customers, as well as facilitators of SMEs, are under the threat of business bankruptcy as a result of the recession experienced globally (Wuen and Wu, 2020). However, in such conditions controlling the virus, maintaining employee pay, reduction in long-term costs, and cost of preventing business collapse are vital which the government should be doing. Hence, because of the above reason, serious action with welldetermined programs and donations are urgently required (Weiwen, Karen, & Luedi, 2020). Therefore, to win the fight against the pandemic and to restore peace to the business community, everyone must make sure that the infection has decreased to the barest minimum through the adoption of regulatory measures from the health authorities. Individuals should be aware of the short-term effect caused by the pandemic in the system. Also, reliable micro and macro measures should be supported with effective controlling tools from the appropriate bodies concern (Agency, 2020). As projected by many economists that there will be huge inevitable economic cost with a sharp increase in public debt that will be required to service the key part of income losses caused by the COVID-19 pandemic. Therefore, the major challenge is the sustenance of the widespread pandemic that could result in a lengthy global recession.
Chapter Three
Research methodology
Research Design
The research design adopted in this research work is the survey research design which involves the usage of self-designed questionnaire in the collection of data. Under the survey research design, primary data of this study will be collected from Dreamworks integrated systems limited in order to determine Critical analysis of the impact of COVID19 on organizational performance in the non manufacturing sector. The design was chosen because it enables the researcher to collect data without manipulation of any variables of interest in the study. The design also provides opportunity for equal chance of participation in the study for respondents.
Population of Study
The population of study is the census of all items or a subject that possess the characteristics or that have the knowledge of the phenomenon that is being studied (Asiaka, 1991). It also means the aggregate people from which the sample is to be drawn.
Population is sometimes referred to as the universe. The population of this research study will be Seventy-five (75) staffs of Dreamworks integrated systems limited in Lagos
CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND DISCUSSION
This chapter is about the analysis and presentation of data collected from the field through questionnaire. The analysis of the data with particular question immediately followed by the presentation of findings.
As mentioned in chapter three, 75 questionnaires were administered and 50 were retrieved and necessary analysis was carried out on them and presented as follows:
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain Critical analysis of the impact of COVID19 on organizational performance in the non manufacturing sector. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of COVID19 on organizational performance in the non manufacturing sector
Summary
This study was on Critical analysis of the impact of COVID19 on organizational performance in the non manufacturing sector. Three objectives were raised which included: To highlight the effect of lock down on the financial performance of dreamworks integrated systems limited, to determine the effect of COVID-19 infection on the performance of dreamworks integrated systems limited in Lagos and to determine the coping strategies for the financial performance of dreamworks integrated systems limited. The total population for the study is 75 staffs of dreamworks integrated systems limited in Lagos. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Conclusion
The prevalence of Covid-19 pandemic will definitely change the dynamics of doing business worldwide. While the prospects for many non-manufacturing sector may look discouraging and morale damaging in this period, the world economy will eventually rebound with successive businesses springing up. It is advisable now for non-manufacturing sector to assess the damages their companies may face and strategically address protection measures that will assist in mitigating the impact of the pandemic while maximizing the opportunities that will most certainly present themselves once the pandemic is contained.
Recommendation
Adoption of E-Business model to business.
Proactive plans should put in place in anticipation of events such as COVID-19 that most likely affect the organizations.
Astringent macroeconomic monetary and fiscal policies are institutionalized and formulated to help non manufacturing sector during the period of hardship such as COVID-19 pandemic
Businesses should improve on their mode of communication, they should communicate early with employees on policies and procedures, changes, engaging with worker’s unions where appropriate.
References
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- Aderemi, T. A., Olu-Young, F., Taiwo, A. A., & Adejumo, O. O. (2019). Agripreneurship Financing and Agricultural Development Nexus in Nigeria: Prospects or Problems? International Journal of Accounting Research, 4(4), 1-7.
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