A PESTEL analysis of Coronavirus pandemic and implications on 10 Post-COVID–19 businesses in Nigeria
The World Health Organization (WHO) has described the deadly disease (c) as a pandemic disease and a global health emergency;it was reported to have emerged from Wuhan in China towards the end of December 2019 and has since spread across the world, affecting 199 countries and territories as of March 2020. As at April 15, 2020, Covid – 19 infections had risen to about 1,986,872 while 494,192 people had recovered with 126,834 deaths recorded. The COVID – 19 pandemic has forced organizations and individuals to embrace new practices such as social distance, hand washing/sanitizing and remote working. Governments are reconsidering ways to ensure that their countries are stable by developing and enforcing new economic plans to cushion the effect of pandemic on the general business environment.
What is a PESTEL Analysis?
A PESTEL analysis is simply an acronym for describing the strategic management tool used for scanning the operating environment in order to identify key macro (external) factors that influence an organization or a country. Each letter in the PESTEL analytical framework stands for Political, Economic, Social, Technological, Environmental and Legal factors.
Let us look at the impact of COVID-19 on the political, economic, social, technological, environmental and legal factors in Nigeria.
Political Impact
Economic Impact
Social Impact
Technological Impact
Environmental Impact
Legal Impact
At this period, the enterprise owners and CEOsneed to practically reflect empathy, resilience, optimism, and flexibility in the running of their businesses because “those who survive are not the strongest or the most intelligent, but the most adaptable to change.”
From critical incidents analysis, the Ten Post-COVID-19 Businesses in Nigeria would be the following:
10. Corporate Private Cab Services
The predicted economic recession after COVID-19 will have the following impacts:
IN CONCLUSION
The lockdown foisted on the world necessitated by COVID-19 has provided the entire humanity a unique opportunity for a reunion with God spiritually, socially, economically and politically. The existential threat of the virus has re-emphasized the dire need for humans, businesses and countries to live peacefully.
I therefore, urge all Nigerians to adhere strictly to the movement restrictions, social distance order and follow guidelines stipulated by the Federal Ministry Health, Nigeria Centre for Disease Control (NCDC) and other relevant health agencies of government to curb the possible spread of the deadly virus in Nigeria. And I also commiserate with those affected by COVID-19 while wishing them quick recovery and wishing the world scientists quick discovery of an antidote. It is my wish that we stay safe and indoors while we deliver humanity out of this difficult time victoriously. Difficult times don’t last long, tough people do and we will all celebrate. There is light after the tunnel. It will soon be over and we will soon be merrier.
Thank you and God bless.
Afeez Ismaila
Managing Director, Mutual Capital International Limited
Central Business District, FCT – Abuja
Mobile: 08082953148
Email: [email protected]