business

Small Business Administration: Dentists can apply for both economic injury disaster and paycheck protection program loans

Dentists can apply for both Economic Injury Disaster Loans and Paycheck Protection Program 7(a) loans, the Small Business Administration told the American Dental Association on April 6.




business

Webinar on Small Business Administration loans available online

The ADA webinar, Small Business Administration Loans: Understanding the Options for Dentist Owners, is available online.




business

ADA asks Congress to increase funding, extend dates for Small Business Administration loans

The ADA is urging Congress to continue supporting small businesses during the COVID-19 pandemic by increasing funding and streamlining the application process for Small Business Administration loans.




business

Index shows that dentists slowly but surely embracing electronic means of doing business

Despite the ADA Council on Dental Benefits’ efforts, the practice of using automated electronic means for verifying eligibility and benefits, checking claim status or receiving and reconciling payment remains underutilized by many dental providers according to an index, said Dr. Randall Markarian, council chair.




business

Senate votes to expand small business aid

The Senate passed new coronavirus relief legislation April 21 calling for much-needed funding for depleted federal loan programs that could help businesses nationwide, including dentists and dental practices, recover from the economic fallout of the pandemic.




business

Business as Usual? Regularizing Foreign Labor in Costa Rica

With the growing urbanization and consolidation of Nicaraguan immigrants in sectors such as construction and domestic service, Costa Rica has shifted its focus from immigration enforcement to integration. Tension has emerged between the government and private sector as a new mechanism for regularizing unauthorized immigrant workers has failed to gain traction.




business

[ Other - Business & Finance ] Open Question : Can I apply for unemployment as a gig worker?

If so, can you do it online? I don't want to catch COVID-19 waiting in some packed line, as I live with an 80 year old.




business

The Digital Transformation Playbook: Rethink Your Business for the Digital Age

Every business begun before the Internet now faces the same challenge: How to transform to compete in a digital economy? This is the leadership challenge examined by BRITE founder and Columbia Business School faculty member David Rogers in his newest book, The Digital Transformation Playbook (April 5, 2016; Columbia Business School Publishing). In the book, […]




business

Reflections on Business, Leadership, and Branding: Shelly Lazarus ’70

Much has changed in the world of advertising from the picture painted by Mad Men. Shelly Lazarus ’70, Chairman Emeritus, Ogilvy & Mather, was one of the women helping pioneer these changes. Making the journey from ‘the only woman in the room’ to CEO and Chairman of Ogilvy gives Lazarus a lot to reflect on […]





business

Why Some States Keep Schools Closed, Even as Businesses Move to Reopen

As some states move to jump-start economies shut down by the coronavirus, most are keeping their school buildings shuttered. What makes schools such an outlier?




business

Hacked and Cut Off From the Public: This Is School Board Business in the Coronavirus Crisis

Social distancing is forcing school business to be conducted virtually, putting school boards in the difficult spot of making crucial decisions on spending and other issues without the same level of public input.




business

Don't worry about the rent : choosing new office space to boost business performance / Darren Bilsborough.




business

Employment contracts : getting them right for your clients... and for your own business! / presented by Kaz Eaton, Flinders Chambers.




business

From you to two : how to expand your network and grow your business / Sam Ackland.




business

Forum 2019 : 2D: Marketing hacks for legal services in 2019 : slides / presented by Loren Renton, Business Partnership and Digital Strategy Manager, NewsCorp.




business

Forum 2019 : 4A Transform your business culture with a 'meta' skill... : one that improves all other skills : slides / presented by Tomas Jajesnica, Mr Meditate.




business

Balance sheets and how to value a law firm in minutes / paper presented by Brad Milburn, Director of SA Business Valuers.




business

Ratings summary - labour market analysis of skilled occupations / Department of Employment, Skills, Small and Family Business.




business

Big data, big responsibilities : a guide to privacy & data security for Australian business / Nick Abrahams and Jim Lennon.

Data protection -- Law and legislation -- Australia.




business

Storytelling with data : a data visualization guide for business professionals / Cole Nussbaumer Knaflic.

Information visualization.




business

How Lemonade Stands Are Teaching Kids 21st-Century Business Skills (Video)

Concerned that schools don't notice or nurture business skills, nonprofits are using the humble lemonade stand to foster entrepreneurship.




business

Walz ends school year, but lets some businesses reopen





business

Ancient Egyptian Funeral Home Reveals Embalmers Had a Knack for Business

Funeral parlors' enterprising staff offered burial packages to suit every social strata and budget




business

Inflated power bills another hit to businesses dealing with COVID closures

Some New Brunswick business owners already facing a cash crunch because of COVID-19 have received an unwelcome shock from NB Power: electricity bills that don’t take into account how little energy they’ve been consuming.



  • News/Canada/New Brunswick

business

How one Sudbury business owner is getting ready to reopen her hardware store

As the province of Ontario starts to relax some COVID-19 restrictions, one Sudbury business owner says it feels great to be opening back up.



  • News/Canada/Sudbury

business

Chance for northern Ontario business owners to share concerns with federal economic development minister

Business owners throughout northern Ontario will have the chance Friday morning to speak directly with federal Economic Development Minister Mélanie Joly.



  • News/Canada/Sudbury

business

Dollar invoicing, global value chains, and the business cycle dynamics of international trade

Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies, and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the business cycle dynamics of international trade and its relationship with monetary policy and exchange rates.




business

Cape Breton businesses busting boredom with DIY kits

Businesses in Cape Breton are helping customers get creative with DIY take-home kits to make everything from mermaid-themed terrariums to bubble tea.



  • News/Canada/Nova Scotia

business

Flowers to 'brunch in a box': Manitoba businesses working hard to make Mother's Day special during pandemic

With Mother's Day only a few days away, businesses are coming up with creative ways to help your family celebrate. Everything from brunch in a box to colourful bouquets and home delivered chocolate.



  • News/Canada/Manitoba

business

USPS Collapse Could Be Nightmare for Some Businesses

As a result of the pandemic, USPS, which has run at a loss for years, is even more cash-strapped. It expects to lose $2 billion each month during the pandemic. That prompted Postmaster General Megan Brennan to ask Congress for $50 billion in funds -- $25 billion to offset lost revenue from declining mail volume due to the pandemic, and another $25 billion for modernization.




business

Salesforce Revamps Work.com to Help Businesses Address Pandemic

Salesforce has announced a new version of Work.com designed to help businesses function safely during the COVID-19 pandemic. "Work.com is a completely new initiative using an existing domain name that we previously owned," said Salesforce spokesperson Joel Steinfeld. "Our focus is on speed and moving as quickly as possible to help our customers, and Work.com is an optimal way to do that.




business

COVID-19 precautions keep sign-making businesses busy in P.E.I.

Sign makers in P.E.I. have been busy since the province announced its plans to ease back COVID-19 restrictions, as businesses are ordering signs and decals ahead of reopening.



  • News/Canada/PEI

business

Bates: McHenry businesses adapt to COVID-19 – Northwest Herald

Bates: McHenry businesses adapt to COVID-19  Northwest Herald



  • IMC News Feed

business

Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy – Business Standard

Govt hikes borrowing limit by over 50% to Rs 12 trn as virus grips economy  Business StandardRaghuram Rajan says monetisation neither a game changer nor catastrophe  LivemintBank credit up 6.74% to Rs 102.69 lakh crore; deposits ris...



  • IMC News Feed

business

Cyber Criminals Conduct Business Email Compromise through Exploitation of Cloud-Based Email Services, Costing US Businesses More Than $2 Billion




business

Business break and enters spike by 562% since COVID-19

New statistics from the Victoria Police Department show a major shift in crime rates during COVID-19 compared to this time last year. Meanwhile in Kamloops city officials point to court "inaction" as contributing factor.



  • News/Canada/British Columbia

business

Business Inventories

Business inventories are the dollar amount of inventories held by manufacturers, wholesalers, and retailers. The level of inventories in relation to sales is an important indicator of the near-term direction of production activity.




business

Toronto officials report 180 new cases of COVID-19 as city prepares to partially reopen some businesses

Toronto officials reported 180 new cases of COVID-19 on Thursday, a figure that represents a dip when compared to the more than 200 cases announced daily this week. 



  • News/Canada/Toronto

business

'Heartbreak and betrayal': No room for friendships in the business of curling

In the span of a few days, Canada's curling landscape has shifted dramatically. The country's past women's and men's Olympic teams and last year's women's world champion team have all split.



  • Sports/Olympics/Winter Sports/Curling

business

Ontario landlords, businesses don't have to disclose COVID-19 cases. But should they?

The province says no one has to tell others if they get COVID-19. The same goes for businesses or landlords, should employees or tenants get sick. But should you tell?



  • News/Canada/Hamilton

business

Collaborative Business Innovation Role for Education

My 3DEXPERIENCE New Years Resolution continues.  Let’s explore the Collaborative Business Innovator role on the Dassault Systèmes 3DEXPERIENCE Platform and see why it is relevant for students and educators in our SOLIDWORKS community. The Collaborative Business Innovator role is a

Author information

Director of Education & Early Engagement, SolidWorks at Dassault Systemes SolidWorks Corporation

Marie Planchard is an education and engineering advocate. As Senior Director of Education & Early Engagement, SOLIDWORKS, she is responsible for global development of content and social outreach for the 3DEXPERIENCE Works products across all levels of learning including educational institutions, Fab Labs, and entrepreneurship.

The post Collaborative Business Innovation Role for Education appeared first on SOLIDWORKS Education Blog.




business

Dollar invoicing, global value chains, and the business cycle dynamics of international trade

Bank for International Settlements BIS Working Papers by David Cook and Nikhil Patel




business

What Catholic business ethics brings to the coronavirus crisis

Denver Newsroom, May 7, 2020 / 08:19 pm (CNA).- A Christian ethic of service and solidarity must be an important feature of the business response to the coronavirus epidemic and its economic impact, Catholic business educators have said.

For Karel Sovak, associate professor in the University of Mary’s Gary Tharaldson School of Business, two of the biggest skills that business can bring to recovery efforts are self-awareness and empathy.

“A business needs to help the community identify who they are, which may have been lost during this time of stay at home,” he told CNA. “Businesses need to help communities focus on what makes it viable in the first place, which are the people. Business can be used as a force for good only if they understand what that ‘good’ means. Being aware of those strengths can help transform a community as they seek to overcome any devastating tragedy, natural or otherwise.”

He cited the symbolic unity and mutual support shown by individuals and businesses, whether by showing hearts in windows, purchasing gift cards for businesses, or taking meals to essential personnel.

Over 75,000 deaths are attributed to Covid-19 in the U.S., with over 1.25 million confirmed cases, John Hopkins University said Thursday. Efforts to prevent the spread of infection led to public officials’ orders to close businesses, with the exception of some businesses deemed essential services.

Millions of people have been left unemployed due to the closures, while those with essential jobs worry that their places of employment are newly dangerous.

Sovak emphasized the importance of trust as a business skill, but noted that low trust and polarization were problems even before the epidemic. Community is about bringing people into communion, and business has a role to play in that community building.

“Business can reassure families, non-profits and churches that they are there for them. Solidarity is the word that comes to mind when determining how to establish trust,” he said. The social and spiritual nature of the human being means people will need to come together once again “to use the gifts God gave to each person to meet the needs of others.”

Laura Munoz, associate professor of marketing at the University of Dallas’ Satish and Yasmin Gupta College of Business, said her business school emphasizes both a skill-based and a virtue-based education that can help respond to the crisis.

Business professors aim to help students become resilient and adaptable. They must become critical thinkers “aware of multiple stakeholder perceptions in an ethical way,” she told CNA. These skills can also help in the service of others, as in the case of a business student who used her business skills to fund raise for an Argentine orphanage on social media.

“Yes, skills are needed but they cannot come if the ‘business person’ is not aware of the needs of the environment and does not have love, charity, for others,” said Munoz. “Businesses that acknowledge that serving a community is give and take, not just take, will probably receive more community support as well.”

For Sovak, Catholic business education focuses on virtues, “servant-leadership,” and upholding the tenets of Catholic social teaching.

“There is no proof that any instruction can adequately prepare anyone, let alone young minds, for such a large-scale disruption as this pandemic has caused,” he said. However, teaching students the cardinal virtues of prudence, courage, justice and temperance is a good path in both strong economies and in economic downturns.

Such an education helps students “to understand that life is not about them; it is about serving others who are in need, which is what we are called to do.” Students should be prepared “to recognize their vocation is more than a job and they are called to greatness, ‘magnanimity,’ especially in dire times.” This helps them to “focus less on self and more on the situation at hand” and to bring about “true humility.” This path helps students be optimistic and trusting in innovative ways and help contribute to solutions

“Life is full of disruptions, simply because we can’t predict the future,” Jay Wesley Richards, assistant research professor at the Catholic University of America’s Busch School of Business, told CNA. “I think two of the most important business skills are simply virtues. One is courage—which means you’ll act even if you might fail. The other is resilience or anti-fragility—which means you learn from disruption and failure. The pandemic, and more precisely, the shutdown in response to it, is a historic and massive disruption. But disruption itself is part of life.”

Richards said one of his classes this semester had been discussing looming disruptions from technology and “the need to develop virtues and skills that humans will always do better than machines.”

“The discussion was mostly abstract until spring break, when the semester itself was disrupted by the pandemic shutdown, and we had to move online,” he said. “Suddenly, we were using disruptive (if imperfect) video-conferencing technology! At that point, students started asking more questions about disruption in the economy.”

Economic downturns in the business cycle are a standard topic in business education. Munoz said a pandemic is one of many possibilities taught through case studies, role playing, business planning, and discussions.

“We focus on going beyond a disruption and thinking ‘so what? How do we continue?’”

“Instead of the business coming to a stop, we think: ‘and what else can we do? How else can we do it?’” she said.

Michael Welker, an economics professor at Franciscan University of Steubenville, reflected on the need for creativity given the conditions of a pandemic event.

“Such an event, in our lifetimes, is one that is unprecedented, complex, and so widespread, that there is a need for courage, openness to failure, iteration of ideas and experiments, and a need for management decisions to frame their enterprise cultures to engender this powerful way that human beings image the Creator,” Welker said.

Efforts to re-open businesses and other social venues, including places of worship, have come to be the focus of debate, planning, and activity.

Welker said the focus on “restarting the economy” means a focus on “a critical aspect of human life--a prudent and wise engagement with the world in many dimensions.” These dimensions include work, leisure, community, worship, and recreation. He suggested any approach to “restarting” the economy should take place in a context that recognizes “the great dignity of work” with the added sense of “the essential things, which are beyond just ‘making a living’.”

“This disruption has brought much multi-dimensional damage to people,” he said. “I believe authorities are attempting to walk the fine line between a serious and known risk and the need to get people into ‘normal’ living and acting, with the heightened concerns for safety and health.”

Sovak said that while there was indeed economic disruption, in part the economy “never really stopped.” Consumers continued to purchase, many people found different ways to trade, and the government infused additional money seeking a positive impact.

“If we are discussing how to get people back into the mix of work, travel, or play, again, much of that never stopped with work at home, it just got more creative,” he said.

At the same time, Sovak said that a too cautious approach to re-opening business will mean many businesses close, unable to adapt to the coronavirus epidemic.

There is also another risk.

“The risk of being too reckless means this thing (the epidemic) will come back around in a couple of months and bring about an even more devastating grind to the economy,” he added. “Again, the virtue of prudence comes to mind on how to tell what the times call for.”

“This isn’t a one-size fits all solution – what is controllable and what is predictable will be two ways to view the danger,” Sovak continued. “How much certainty does one have in the situation? The more certainty there is, the less risk and easier the decision that can be made.”

Richards similarly said there is no one right answer for a business response.

“Every business will have specific, even unique challenges, depending on where it is and what it does,” he said. “But the same general rules apply for businesses as for everyone else: Treat every person with respect and dignity, and that includes employees and customers.”

“It’s a serious mistake to present the current debate as if it were between the ‘economy’ on one side, and ‘lives’ on the other,” Richards said. “We should care about the economy precisely because we care about human lives and well-being. Really families, real companies, employers, and employees. Real lives.”

Richards cited the massive unemployment in recent weeks. The unemployment rate was at an historic low of 3.5% in February. Since mid-March, 33.3 million people have filed unemployment claims, making the unemployment rate higher than 20%, BBC News reports.

“There’s no such thing as a zero-risk option this side of the kingdom of God,” Richards continued. “Any challenge, like the coronavirus, involves a multi-side risk: Lives were at stake no matter what path we took,” he said. “The path of wisdom lies in understanding what the real risks are, and how likely various outcomes are. Only then do we have much chance of responding so that the benefits are greater than the costs.”

In the coronavirus epidemic, policymakers face the challenge of making “far-reaching decisions without having very good information to work with.”

“A response that puts 30 million people out of work isn’t just an economic inconvenience. It leads, and will lead, to loss of life and well-being,” said Richards. “The president understood this from the beginning. This is why he worried on Twitter that the ‘cure’ not be worse than the ‘disease’.”

“The question we will be asking for the next several years is this: Did the government response, and in particular, the shutdown of businesses and shelter-in-place orders for healthy people, save more lives than, in the long run, it will have cost?”

Sovak told CNA there are signs that tell whether a business mentality is dominating a discussion or or being neglected. When there is “negativity, pessimism or placing blame,” a conversation is likely headed in a wrong direction, whether a business community is being criticized or is offering criticism.

“Business certainly can’t solve every issue or does it have all the answers; however, there can be many benefits in taking a business approach to address any situation,” he said.

At the same time, a business analysis may not appeal to many, given the human cost.

“People are acting on emotion more today than facts and reason. Thirty million people are unemployed – putting a business touch on that doesn’t help that situation,” Sovak said. “Supply and demand means prices will rise, and inflation will come about but that doesn’t mean we have to bring that approach into the conversation when many people’s lives have been disrupted both financially and health-wise. This is where empathy has to come into play.”




business

Learn the Keys to Kick-Start your business [Podcast]

Charles Adler is a designer, entrepreneur, technologist, and one of the founders of Kickstarter.com.  Charles has a wealth of insight on the keys to success for small businesses and start-ups, and creative people in general.  I interviewed him recently (online,

Author information

Cliff Medling

Cliff Medling is a Senior Marketing Manager at SolidWorks and the host for the Born to Design Podcast.

The post Learn the Keys to Kick-Start your business [Podcast] appeared first on The SOLIDWORKS Blog.




business

What Catholic business ethics brings to the coronavirus crisis

Denver Newsroom, May 7, 2020 / 08:19 pm (CNA).- A Christian ethic of service and solidarity must be an important feature of the business response to the coronavirus epidemic and its economic impact, Catholic business educators have said.

For Karel Sovak, associate professor in the University of Mary’s Gary Tharaldson School of Business, two of the biggest skills that business can bring to recovery efforts are self-awareness and empathy.

“A business needs to help the community identify who they are, which may have been lost during this time of stay at home,” he told CNA. “Businesses need to help communities focus on what makes it viable in the first place, which are the people. Business can be used as a force for good only if they understand what that ‘good’ means. Being aware of those strengths can help transform a community as they seek to overcome any devastating tragedy, natural or otherwise.”

He cited the symbolic unity and mutual support shown by individuals and businesses, whether by showing hearts in windows, purchasing gift cards for businesses, or taking meals to essential personnel.

Over 75,000 deaths are attributed to Covid-19 in the U.S., with over 1.25 million confirmed cases, John Hopkins University said Thursday. Efforts to prevent the spread of infection led to public officials’ orders to close businesses, with the exception of some businesses deemed essential services.

Millions of people have been left unemployed due to the closures, while those with essential jobs worry that their places of employment are newly dangerous.

Sovak emphasized the importance of trust as a business skill, but noted that low trust and polarization were problems even before the epidemic. Community is about bringing people into communion, and business has a role to play in that community building.

“Business can reassure families, non-profits and churches that they are there for them. Solidarity is the word that comes to mind when determining how to establish trust,” he said. The social and spiritual nature of the human being means people will need to come together once again “to use the gifts God gave to each person to meet the needs of others.”

Laura Munoz, associate professor of marketing at the University of Dallas’ Satish and Yasmin Gupta College of Business, said her business school emphasizes both a skill-based and a virtue-based education that can help respond to the crisis.

Business professors aim to help students become resilient and adaptable. They must become critical thinkers “aware of multiple stakeholder perceptions in an ethical way,” she told CNA. These skills can also help in the service of others, as in the case of a business student who used her business skills to fund raise for an Argentine orphanage on social media.

“Yes, skills are needed but they cannot come if the ‘business person’ is not aware of the needs of the environment and does not have love, charity, for others,” said Munoz. “Businesses that acknowledge that serving a community is give and take, not just take, will probably receive more community support as well.”

For Sovak, Catholic business education focuses on virtues, “servant-leadership,” and upholding the tenets of Catholic social teaching.

“There is no proof that any instruction can adequately prepare anyone, let alone young minds, for such a large-scale disruption as this pandemic has caused,” he said. However, teaching students the cardinal virtues of prudence, courage, justice and temperance is a good path in both strong economies and in economic downturns.

Such an education helps students “to understand that life is not about them; it is about serving others who are in need, which is what we are called to do.” Students should be prepared “to recognize their vocation is more than a job and they are called to greatness, ‘magnanimity,’ especially in dire times.” This helps them to “focus less on self and more on the situation at hand” and to bring about “true humility.” This path helps students be optimistic and trusting in innovative ways and help contribute to solutions

“Life is full of disruptions, simply because we can’t predict the future,” Jay Wesley Richards, assistant research professor at the Catholic University of America’s Busch School of Business, told CNA. “I think two of the most important business skills are simply virtues. One is courage—which means you’ll act even if you might fail. The other is resilience or anti-fragility—which means you learn from disruption and failure. The pandemic, and more precisely, the shutdown in response to it, is a historic and massive disruption. But disruption itself is part of life.”

Richards said one of his classes this semester had been discussing looming disruptions from technology and “the need to develop virtues and skills that humans will always do better than machines.”

“The discussion was mostly abstract until spring break, when the semester itself was disrupted by the pandemic shutdown, and we had to move online,” he said. “Suddenly, we were using disruptive (if imperfect) video-conferencing technology! At that point, students started asking more questions about disruption in the economy.”

Economic downturns in the business cycle are a standard topic in business education. Munoz said a pandemic is one of many possibilities taught through case studies, role playing, business planning, and discussions.

“We focus on going beyond a disruption and thinking ‘so what? How do we continue?’”

“Instead of the business coming to a stop, we think: ‘and what else can we do? How else can we do it?’” she said.

Michael Welker, an economics professor at Franciscan University of Steubenville, reflected on the need for creativity given the conditions of a pandemic event.

“Such an event, in our lifetimes, is one that is unprecedented, complex, and so widespread, that there is a need for courage, openness to failure, iteration of ideas and experiments, and a need for management decisions to frame their enterprise cultures to engender this powerful way that human beings image the Creator,” Welker said.

Efforts to re-open businesses and other social venues, including places of worship, have come to be the focus of debate, planning, and activity.

Welker said the focus on “restarting the economy” means a focus on “a critical aspect of human life--a prudent and wise engagement with the world in many dimensions.” These dimensions include work, leisure, community, worship, and recreation. He suggested any approach to “restarting” the economy should take place in a context that recognizes “the great dignity of work” with the added sense of “the essential things, which are beyond just ‘making a living’.”

“This disruption has brought much multi-dimensional damage to people,” he said. “I believe authorities are attempting to walk the fine line between a serious and known risk and the need to get people into ‘normal’ living and acting, with the heightened concerns for safety and health.”

Sovak said that while there was indeed economic disruption, in part the economy “never really stopped.” Consumers continued to purchase, many people found different ways to trade, and the government infused additional money seeking a positive impact.

“If we are discussing how to get people back into the mix of work, travel, or play, again, much of that never stopped with work at home, it just got more creative,” he said.

At the same time, Sovak said that a too cautious approach to re-opening business will mean many businesses close, unable to adapt to the coronavirus epidemic.

There is also another risk.

“The risk of being too reckless means this thing (the epidemic) will come back around in a couple of months and bring about an even more devastating grind to the economy,” he added. “Again, the virtue of prudence comes to mind on how to tell what the times call for.”

“This isn’t a one-size fits all solution – what is controllable and what is predictable will be two ways to view the danger,” Sovak continued. “How much certainty does one have in the situation? The more certainty there is, the less risk and easier the decision that can be made.”

Richards similarly said there is no one right answer for a business response.

“Every business will have specific, even unique challenges, depending on where it is and what it does,” he said. “But the same general rules apply for businesses as for everyone else: Treat every person with respect and dignity, and that includes employees and customers.”

“It’s a serious mistake to present the current debate as if it were between the ‘economy’ on one side, and ‘lives’ on the other,” Richards said. “We should care about the economy precisely because we care about human lives and well-being. Really families, real companies, employers, and employees. Real lives.”

Richards cited the massive unemployment in recent weeks. The unemployment rate was at an historic low of 3.5% in February. Since mid-March, 33.3 million people have filed unemployment claims, making the unemployment rate higher than 20%, BBC News reports.

“There’s no such thing as a zero-risk option this side of the kingdom of God,” Richards continued. “Any challenge, like the coronavirus, involves a multi-side risk: Lives were at stake no matter what path we took,” he said. “The path of wisdom lies in understanding what the real risks are, and how likely various outcomes are. Only then do we have much chance of responding so that the benefits are greater than the costs.”

In the coronavirus epidemic, policymakers face the challenge of making “far-reaching decisions without having very good information to work with.”

“A response that puts 30 million people out of work isn’t just an economic inconvenience. It leads, and will lead, to loss of life and well-being,” said Richards. “The president understood this from the beginning. This is why he worried on Twitter that the ‘cure’ not be worse than the ‘disease’.”

“The question we will be asking for the next several years is this: Did the government response, and in particular, the shutdown of businesses and shelter-in-place orders for healthy people, save more lives than, in the long run, it will have cost?”

Sovak told CNA there are signs that tell whether a business mentality is dominating a discussion or or being neglected. When there is “negativity, pessimism or placing blame,” a conversation is likely headed in a wrong direction, whether a business community is being criticized or is offering criticism.

“Business certainly can’t solve every issue or does it have all the answers; however, there can be many benefits in taking a business approach to address any situation,” he said.

At the same time, a business analysis may not appeal to many, given the human cost.

“People are acting on emotion more today than facts and reason. Thirty million people are unemployed – putting a business touch on that doesn’t help that situation,” Sovak said. “Supply and demand means prices will rise, and inflation will come about but that doesn’t mean we have to bring that approach into the conversation when many people’s lives have been disrupted both financially and health-wise. This is where empathy has to come into play.”




business

The family business

Nassau, Bahamas :: The Esposito family from Argentina enjoys serving God together on board Logos Hope, bringing professional skills and supporting each other.




business

The Best Business Messaging Apps for 2020

If the coronavirus breaks as bad we fear, a lot more people are going to be working from home. These business messaging apps can help teams stay in touch, and stay productive, even if they can't come in to the office.




business

Failing business man finds hope and purpose

A welder's life is renewed in Kaharlyk, Ukraine through a new business opportunity with OM.