An Exploration of COVID-19 Pandemic and its Consequences on FMCG Industry in Bangladesh

Abstract

The main objective of the article was to explore the impact and consequences of Novel Coronavirus (2019-nCoV) on the FMCG Industry in Bangladesh. To achieve the research objective Qualitative methodology was applied by using focus group discussion on the online platforms during the movement restriction period. We collected data from four informants and they were chosen based on their professional relevancy with the FMCG industry. Existing documents also analyzed. This study found that COVID-19 has significant negative impacts on the fast-moving consumer goods (FMCG) industry. The informants provide the miserable scenario of the industry during this pandemic besides suggesting possible corporate strategies. This article discusses the impacts of COVID-19 in Bangladesh, in order to provide a better understanding to government and practitioners of why improving the management of response to infectious disease outbreaks is so critical for a country’s economy, its society, and its place in the global community.

Technology and Entrepreneurial Marketing Decisions During COVID-19

“…The first hypothesis proposes that entrepreneurial opportunity recognition through technology influences marketing decisions. Entrepreneurial opportunity recognition implies the capacity to identify states in which new products, resources, raw materials, markets and organising approaches can be familiarised by the creation of new means, ends or means-end relationships (Baker and Nelson, 2005;Short et al 2009;Yang and Gabrielsson, 2017;Song et al 2017;Dey et al 2019;Polas et al 2020). Sudden volatility has impacted the global economy as a result of COVID-19, with small businesses faring the worst.…”

“…In this scenario, they can consume the respective services from their home via telephone; an online robot as AI will provide the services. In this way, technology lets entrepreneurs make marketing decisions relevant to the epidemic of COVID-19 or other global pandemics (Ivanov 2020;Naudé, 2020;Hossain et al 2020).…”

“…Governments, organisations and communities are also significantly influenced by AI. At present, AI is a facilitator and the instigator of a substantial degree of entrepreneurial recognition (Sushil 2018;Giménez-Figueroa et al 2018;Obschonka and Audretsch 2019;Polas et al 2020).…”

“…It is difficult for anyone to make marketing decisions in person during the COVID-19 pandemic, since close contact with other people poses a health risk. In this situation, technology makes it faster and more efficient to improve entrepreneurial marketing decisions (Grange et al 2020;Gössling et al 2020;Polas et al 2020). At the time of writing, some one million employees in Bangladesh are away from work, so technology is the only way to run the business.…”

Corporate Social Responsibility (CSR) practices of financial institution in Bangladesh: the case of United Commercial Bank

“…As part of their CSR operations, various public banks contribute to various industries (Miajee, 2015). Agrani Bank Limited, Rupali Bank Limited, and Janata Bank Limited spent 10.41 crore BDT, 6.0 crore BDT, and 13.75 crore BDT on CSR practices in 2013, respectively (Kuo et al, 2016;Javeed & Lefen, 2019;Uddin et al, 2018;Bhattacharjee et al, 2018;Hossain et al, 2020 ;Polas et al, 2020).…”