A Study of COVID-19 and Its Impact on Well Being of Society and Business

Abstract

Pandemic is the worst situation faced by the world in every century. It not only leads to great human loss but unbearable economic loss also. In order to understand the nature & severity of COVID- 19, emerged in the year 2019 in the Wuhan city of China we have studied the great pandemics occurred in 20th century i.e., influenza outbreak in 1918, 1957 and 1968 1918. The objective of this paper was to understand the severity, mitigating strategies and impact of COVID- 19 on the wellbeing of the society. A review research method was followed to collect the information regarding previous pandemic occurred and the prevailing situation of the society. It is being studied that, alike previous pandemics, this pandemic also leads to great human and economic losses all over the world. Transmission rate was so high that in few weeks it covers a large area under its impact. Similar mathematical model SIR (Susceptible- Infectious- Recovered) of transmission used in 20th century was used to understand the transmission process of COVID- 19. As far as mitigating strategies are concerned, it is being observed that similar strategies like travel restrictions, social distancing, home quarantine, school & workplace closure which were used to control influenza pandemics were used to control the current situation. Recommendations were made on the basis of steps taken by the government in order to help the society.