The New Advanced Society

Problems: Management is a theory which is very old and traditional. The theory of management always percolates to all subordinates working in a particular organisation. Be it HR, Finance, Marketing, Operation, IT or Entrepreneurial Development, management has become a very serious topic in all these fields over the years. It is almost a year now and the world is fighting with COVID-19, a pandemic which has swept the entire world. This has brought the concept of Management in the forefront where every country is trying to prepare their health system and other support systems to counter the pandemic.

Overcome

The main role in healthcare is played by the Doctors, Nurses, Ward Boy. The work of receptionists, ICCU, ICU support staff, water and electricity suppliers should not be ignored [3]. All these employees have managed to counter the pandemic and inflow of patients and are managing to do so. Recently, the world has faced a new COVID-19 strain, which has worsened the situation further. Once again, the common man is prone to a new strain. All of us need to adhere to more precautionary measures or the SOPs declared by the government. The Police Management System is another system which has also played a significant role in this pandemic.

The police staff were keeping the people at home. People are advised not to wander here and there. The policemen are harsh in this process, which must be individually controlled through proper counseling. In this difficult situation, it has become very difficult to have strong mental acumen, but it is very important to look after well-being. The policemen were only catching the common man who are under severe stressful pandemic situation.

Problems: Cyber-crime has become a major concern for financial institutions in the 21st century. Including risk and crime, the digital world has changed almost every part of our lives. An easy target for crime is financial institutions. In the current digital age, to improve trustworthiness, it is imperative that financial institutions increase investments in protection, fraud prevention, consumer education, and personal information privacy. Financial fraud has evolved rapidly since the pandemic. In India, financial cybercrime, identity theft, account acquisition, synthetic fraud, ransom ware and social engineering are rising [4]. Crypto jacking and botnets are the main ways of cyberattacks. The booming adoption of mobile applications, digital payments, and the growing rate of financial fraud in India are significantly associated. While Indians have embraced digital transactions, as social engineering and phishing email are extensive, they have yet to learn the dos and don’ts to share personal data. To tackle the overall scale of these assaults, the value of consistent security hygiene remains vital. That is why financial institutions need to take a layered approach to cyber protection and fraud prevention, including banks, credit unions, brokerage and payment firms.

Overcome

Organizations should regularly scan the internet for fraudulent application;

An integrated security framework must be introduced by organizations, where each aspect is programmed to interact in real time with all the others;

Identity and track all mobile and IoT devices;

To combat things like Crypto jacking, one essential approach is to involve maintaining a comprehensive inventing of devices through third generation network access controls and then base lining their behavior; and

Continue to inform clients about their legitimate banking applications, such as online “Validation of passwords” or “account validation” methods used by scammers and phishes. So, it is predominant to train the employees to avoid cybercrimes.

Problems: COVID-19, a colossal and unpredictable pandemic, has already had and will continue to have an economic impact. Throughout the globe, the wheel of whole economic processes has been stopped and has now become vulnerable to society. Humans are unable to handle this issue and the situation is getting worse and worse every day. The pandemic’s overall effects on economic activity and GDP depend on the severity and length of the pandemic. The influence of COVID-19 dominates throughout the world, experiencing and witnessing the parallel spread of stock market volatility, economic development stagnation, and growth, so it would certainly have a profound impact on the way people live [5]. Scientists, researchers, teachers, medical fraternity have been working round the clock for serving the society, work at home is gaining momentum, and lockdown perplexed the people to a great extent. This meticulous and unusual pandemic occurrence affects individuals physically and mentally. Many individuals have encountered a mild to moderate spectrum of stress, anxiety and depression reactions. It is important to evaluate these types of economic reactions and to take the necessary corrective steps to pave the economy during post-pandemic period. The entire world is typically at the verge of recessions such as real recession, policy recession, and financial crisis [6]. The latest pandemic has struck the world’s economy so hard. Few sectors will develop by leaps and bounds, although there will be no more conventional industries. It would be like placing old wine in a new bottle to establish the essence and pattern of new business. There will be a steady turnover in products and services, but there will certainly be a shift in their distribution model, Industry 4.0, telemedicine, robotics, deep learning, machine learning, and artificial tools. To do so, a coordinated collection of fiscal, monetary, and structural steps must be considered by nations and ways of returning from lockdown must be explored.

Overcome

Under COVID-19, depending on a variety of factors, such as the degree to which demand will be delayed, there is a need for a recovery path back to growth, measure of industry 4.0 application and structural damage intensity.

It is very much relevant to plan the three broad situations such as V-shaped which describes the classical real economy shock, a displacement of output, but growth rebounds eventually. Annual growth rates in this scenario could completely absorb the shock. We think it is plausible and seems to be optimistic amid today’s gloom.

The ugly sibling of V-shaped is U-shaped, the shock continues, while the initial growth direction is resumed, there is some continuous loss of output. But in order to make this the simple scenario, we had to see more evidence of the real harm of the virus.

The other condition is L-shaped, which is a really ugly and weak V and U relationship. In order to materialize, we will have to believe in COVID-19's ability to do significant structural harm. i.e., to break anything on the supply side of the economy—the labor market, the break-down of the creation of capital, or the role of productivity. That’s hard to imagine, even with assumptions that are negative [7].

Problems: Employees have lost their jobs in this pandemic. Very pathetic and worse situations have aroused. Employees have become fruit and vegetables sellers on the roadside, in order to run their livelihood, have chosen this path to provide food and shelter to their family. These common people must be managed. During lockdown no individual is allowed to leave their place of living; keeping an individual in their home results in isolation leads to stress, anxiety, fear, and loneliness. Many people have committed suicide. Moreover, these days the families are mostly nuclear, dual-income-groups that prevail in our society where both the parents are working to meet the day-today expenses of their families. Their children feel very lonely and social life get hampered. They were more inclined towards watching television and playing indoor games, used to computers for their entertainment. Less interactions with relatives and friends have become prevalent. During this prevailing pandemic, the situation has gone downhill. Therefore, it is very important to hold promise and harness the emotions to lead a better life in future.