Singapore government is giving many businesses various support during this crisis, but there are still a lot of gaps in the system, and many people are still struggling to make ends meet.
The COVID-19 crisis has affected many different businesses and our lives may never be the same for a long time. Some businesses have failed, many lost their jobs. For F&B outlets, social distancing rules reduce seating capacities and enforce strict guidelines. Although there are subsidies and solutions provided by the government in the form of grants, the process for applying such grants is not so simple.
In a post COVID-19 world, many things have changed. The reshuffle and new normal caused a lot of new problems and a lot of uncertainties. Many people are out of jobs and the market does not look good. There are many who face financial hardships and obviously some winners and some losers in the community.
Corporate Social Responsibility or CSR is not fit for purpose, and we need something better to hold corporations to account for their social and environmental impact. Business is business — If there is a conflict between maximizing shareholder value and an environmental or social impact, the bottom line will win out in this model.
With the increasing negative perception of plastic, many consumers are influencing brands to move away from plastic due to the technical issues of insufficient infrastructure to collect, sort and recycle plastic waste. There are a lot of alternatives being developed but many are short-lived, as they may deplete more natural resources or are simply too expensive for the market to afford.