STEEPLE Analysis of Coronavirus

 Social
Here are four Social consequences of the coronavirus outbreak:

Panic
As with any worldwide outbreak of disease, coronavirus is very likely to (and already has, in
some places) result in panic. This panic is visible on many levels. For example, with citizens
anticipating a need to stay home for extended periods of time, they may rush to
supermarkets to stock up on home goods such as food, water, and toilet paper. This will
exacerbate the temporary disruption of many supply chains. Panic may also cause
individuals to stock up on fuel for their vehicles, or take other anticipatory measures.
Racism
Perhaps an unexpected Sociocultural consequence of the coronavirus outbreak is unusual
amounts of racism. Since coronavirus was believed to have originated in the Chinese city of
Wuhan, some individuals became prejudiced to Chinese or Asian-looking individuals in their
local areas. In fact, this even resulted in some physical assaults. As the disease crosses new
borders, it’s likely that this will fade. However, some individuals may continue to carry
prejudices for the initial spread of the virus.

Travel fear
Coronavirus has already discouraged many individuals from travel, especially air travel. With
the risk of being quarantined away from home and the even bigger risk of catching the virus,
this should come as no surprise. While this is a Sociocultural phenomenon, it’s having
serious Economic impacts; airline companies, for example, are facing a serious lack of
customers and seeing record losses.

Remote work
Since many individuals will be unable to go to work during the coronavirus outbreak, some
companies may choose to encourage remote work, if applicable to their line of work. For
example, some office workers might be able to fulfil their duties from home, without the
need to travel to and work at an office everyday (which carries the risk of further spreading
coronavirus). While this is a short-term change, it may encourage companies to allow
remote work in the future, if the concept proves itself.

Technological
Here is a Technological consequence of the coronavirus outbreak:

Advances in virology
Coronavirus is sure to result in numerous advances in virology — the study of viruses. The
nature and spread of the virus will prove invaluable information to scientists looking to
better understand how this pathogen — and others like it — can be contained and treated.
With any luck, the coronavirus outbreak will spur the world’s many great minds to find new
ways to manage pandemic situations. An existing example of this is the creation of drive-
thru testing centers, which enable citizens to test themselves for the virus without exposing
themselves to a hospital full of patients.
Economic
Here are two Economic consequences of the coronavirus outbreak:

Poor market performance

A major Economic consequence of the coronavirus outbreak is poor market performance.
This has already been observed in many of the world’s biggest financial markets — such as
those of China and the United States — and is only expected to continue as the outbreak
matures. There are fears that this poor market performance may lead to a multi-year
recession, as investors pull their money out of traditional financial instruments to hedge
themselves against market volatility.

Lack of workers
As more individuals fall ill, coronavirus is likely to lead to a temporary lack of workers.
Whether this is due to quarantines or workers making the decision to stay home, the end
result is the same: companies and governments will be pressed to find laborers. This is likely
to result in reduced Economic output, as business grinds to a halt for many.

Ethical
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Political
Here are two Political consequences of the coronavirus outbreak:

Government scrutiny
Already, many of the world’s governments are being scrutinized for their slow and
unenthusiastic responses to the coronavirus outbreaks. Especially in countries with more
authoritarian government structures — such as China — the effects of coronavirus may lead
to widespread political dissatisfaction among citizens. This scrutiny is likely to have few
consequences in many of the world’s countries, but it may lead to change in others.

Changes in trade
Coronavirus may also lead to changes in trade, for numerous reasons. For example, as
coronavirus continues to sweep the world, many countries will realize the dependence of
their supply chains on others’. Particular supply chains that have been disrupted include
those of medical-grade facial masks; in the future, some countries may wish to begin to
manufacture masks internally so as to be better prepared for new disease outbreaks.

Legal
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Environmental
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