Elc231 - MT Set 2 QP
Elc231 - MT Set 2 QP
Elc231 - MT Set 2 QP
I For the past couple of years, we have witnessed how COVID-19 has impacted
various industries and businesses across the world today. During the
pandemic, many companies are forced to review their paradigm of business
operations, as consumers adapt to their new lifestyles. Work-from-home and
digital connectivity have become the new norm of businesses due to the 5
restrictions of travelling. Meanwhile, consumers were seen to respond to the
pandemic by cutting back on unrestricted expenditures, focusing on what they
saw as essentials only thus proving the importance of business flexibility. With
that, it is compulsory for companies to relook at the products they were selling,
streamline their sales channels and restructure basic business processes. In 10
today’s challenging times, being able to adapt accordingly as well as aligning
business strategies and plans to changing realities, is the key to survival and
continued thriving. Thus, businesses have found themselves having to quickly
rethink how they operate and adjust their strategies in a bid to survive.
II The pandemic revealed that some consumers’ trends could advance quickly. 15
The consumers’ demands revolve around concerns regarding personal safety
and health naturally skyrocketed with the onset of COVID-19, with demands
for health and wellness products such as Vitamin C and multivitamins
increasing in various parts of the world. According to Mintel, a local
supermarket chain in Singapore called NTUC FairPrice saw a demand for 20
health supplements rising by three to five times, while Indonesians are
reportedly stocking up on jamu, a traditional medicine made from natural
ingredients, following the outbreak of COVID-19. A report by Fortune Business
Insights also highlighted that the impact of the pandemic is expected to cause
huge spikes in the annual growth rate of the global hand sanitiser market from 25
5.06 percent to 45.71 percent in the year of 2021. These occurrences reflect
the consumers’ leaning demand towards health and hygiene products that they
now deem essential. Thus, companies which quickly respond to this change
would be at an advantage as they are able to focus on the solutions that oblige
the changing buyers’ requests and needs. In Indonesia, for example, Wipro 30
Consumer Care understood how demands for the products will change quite
early on when COVID-19 first started. Therefore, the company which initially
relied on fragrances and cosmetics has moved on to production of new anti-
bacterial and anti-germ products, including hand sanitisers, hand wash and
disinfectants. 35
III Next, global restrictions due to COVID-19 have caused inevitable change in
consumers’ demands leading to distracted supply chains. Across the world, the
uncontrolled purchases at supermarkets and local shops have led to certain
product shortages. To solve this, companies reexamine their supply chains by
looking at source diversification by not depending on just one country to get 40
some products. This way will ensure the continuity of the needed items in the
market and avoid huge hikes in prices as seen on hand sanitizers and face
masks in 2019. Other than the government initiative to control the base price
for these products, the companies must ensure that the supplies are enough
to meet the demands. Sticking to what previously worked before COVID-19 45
can be futile to a lot of businesses, especially after witnessing how these supply
chains were greatly impacted by the pandemic.
VI Therefore, in order for businesses to survive, they must be able to adapt to the 75
current trends amid the pandemic. Today, we see businesses starting to
emerge from the initial effects of the pandemic, and those that have managed
to come through are those that have adapted well to changing tides. A lesson
learnt is that while it is essential to monitor the situation and find ways to cut
losses, it is equally important to stay agile and be adaptable to capture new 80
opportunities that might not have presented themselves before the pandemic.
Adapted from:
https://www.nst.com.my/opinion/columnists/2020/11/643600/adapt-survive-
build-resilient-tomorrow
QUESTION 1
State whether the following statements are TRUE (T) or FALSE (F).
QUESTION 2
(4 marks)
QUESTION 3
All the followings are TRUE about the effects of COVID-19 on businesses, except:
(Circle two (2) answers)
ii. COVID-19 caused a major increase in demands for health and wellness products.
iii. Consumers can rely on e-commerce platforms as one of few options available to
acquire their basic necessities.
iv. Due to shifting of working models, employees are to find their own ways in adapting
to the changes in businesses.
(2 marks)
QUESTION 4
List two (2) effects of the pandemic towards the operations of companies.
paradigm shift in business operations
i) ____________________________________________________________________
ii) changes in consumer demands and supply chain disruptions
____________________________________________________________________
(2 marks)
QUESTION 5
QUESTION 6
QUESTION 7
Based on the passage, provide ways to ensure that your business will survive in an
increasingly competitive landscape.
Based on the passage, ways to ensure that your business will survive are adapt to charging
________________________________________________________________________
consumer demands and enable employees to adapt and upskill
________________________________________________________________________
________________________________________________________________________
(2 marks)
QUESTION 8
QUESTION 9
QUESTION 10
Based on your understanding of the passage, do you agree that e-commerce will have a
bright future in the purchasing trends? Provide two (2) reasons to justify your answer.
Yes, it is because nowadays most buyers are young people who are familiar with the era of globalization
________________________________________________________________________
that requires them to buy online. Moreover, using e-commerce is easier than buying normaly
________________________________________________________________________
________________________________________________________________________
(3 marks)