THE BUSINESS AGE

(An International Peer Reviewed Refereed Journal of Business, Commerce and Management)
ISSN : 2455-9423 (Online) Frequency: Biannual.
Publication Impact Factor (PIF) = 4.325

Article: 1

“CONSUMER BEHAVIOUR IN COVID ERA”

By: Dr. Anamitra Roy

ABSTRACT

COVID became an important health challenge for mankind since 2020. As a result, every aspect of human life changed during the COVID era. So, consumer behaviour also changed. Increased usage of technology, reduction in buying of luxury products, hike in buying of healthcare related products, online buying, prevalence of wrong buying decisions, rise in planned buying and domestic hoarding were some of the changes in consumer behaviour of this era. The reasons behind this can be listed as penetration of technology, solo decision making, increased fatigue and mental stress, fear of death and break down of distribution channels. As a result of these changes in consumer behaviour, perceptions changed about products and their importance. Thus, it was difficult to predict demands. That influenced production and advertising.

The COVID era created changes in consumer behaviour which were abrupt. These changes did not have any linkage with the past. So, man was not experienced enough to handle these changes. Thus, such changes have also provided with ample scope of research. These changes may be expected to bring turmoil in the world of business, even in the upcoming times.

The investigator has recommended helping consumers in their buying decisions by building physical evidence. Also collection of periodical feedbacks from consumers will help the entrepreneurs to understand their desire, demand and changes in these. This is the phase when many new rules and regulations will get framed and then implemented. Under the circumstances, entrepreneurs will have to be patient to combat the growing business competition.

Key Words: Consumer behaviour, COVID, change, pandemic, demand, marketing, distribution, consumers and customers. 

http://www.thebusinessage.in/article-1

Article: 2

STRATEGIES TO REDUCE UNEMPLOYMENT: AN INDIAN PERSPECTIVE

By: Rishav Singh

ABSTRACT

Unemployment is a significant issue that affects countries all over the world. In India, there was a notable economic crisis in 1991, which led to a depletion of foreign reserves. However, the Indian government implemented various measures, such as liberalization, privatization, and globalization, to revive the economy. These efforts resulted in a remarkable growth rate of the Gross Domestic Product (GDP). During the late 1990s and early 2000s, India experienced a period of robust economic growth, with the GDP growth rate reaching nearly 8.85% in 1999. This growth trend continued with the GDP growth rate consistently remaining above 7.5% before the global financial crisis.

However, the COVID-19 pandemic and subsequent lockdowns had a significant impact on the economy and employment. Many businesses were forced to shut down temporarily or permanently, leading to job losses and increased unemployment rates. According to the periodic labor force survey of 2021-22 quarter 3 data, the unemployment rate in India rose to about 8.7%, particularly affecting females. It’s crucial for governments and policymakers to address the issue of unemployment and create opportunities for job growth, especially during challenging times. By focusing on economic development, promoting entrepreneurship, and implementing supportive measures, we can strive to reduce unemployment rates and build a more prosperous future for all.

Key Words: Unemployment, depletion of foreign reserves, economy Gross Domestic Product (GDP).

http://www.thebusinessage.in/article-2

 

Article: 3

“BUSINESS IS ESSENTIAL FOR THE SUCCESS OF A COUNTRY”

By: Dr. Amandeep Kaur

ABSTRACT

In the early days, when humans lived in small groups, they didn’t fully understand the importance of business. But as time went on, they realized that no individual could be self-sufficient. Each person had something that others in the group didn’t have, leading to a dependency on one another. This realization marked a crucial development in human history. Living together in societies, humans recognized the need for fair wealth distribution and the right to survive with dignity. To achieve this, they started engaging in business activities. People would exchange goods and services, giving something they had in return for something they needed. As societies evolved, the concept of the state emerged. With the formation of states, the organization of business became more structured. Trade expanded, and economies grew. Business became a fundamental aspect of human civilization, facilitating the exchange of resources, knowledge, and ideas.

Today, business plays a vital role in our interconnected world. It drives innovation, creates job opportunities, and fosters economic growth. From small-scale enterprises to multinational corporations, businesses continue to shape our lives and contribute to the development of societies. So, in a nutshell, business originated from the realization that humans needed to depend on each other and exchange goods and services to ensure survival with dignity. Over time, it has grown into a complex system that drives our global economy.

Key Words: Business, human civilization, exchange of goods.

http://www.thebusinessage.in/article-3

 

THE BUSINESS AGE