Economic Impact of COVID-19 Pandemic on Interns & Business Operation of Internships Challenges, Opportunities & 'Best Practices' in Pre-, Occurring- and Crisis Recovery

ABSTRACT

This study addressed the economic fallout effects of the 2020 COVID-19 very contagious virus pandemic that has been heavily shouldered by 2020 collegiate interns and their internship sponsoring firms, in the U.S. (as well as those and other people and businesses around the world). This paper 's research foci is on 2020 U.S. interns and would be ones, as well as internship sponsoring company, and addresses the following four issues (1) The diverse COVID-19 pandemic responses of both interns and internship sponsoring firms to the economic fallout from the effects of the spread of COVID-19;(2) identification of challenges and opportunities that COVID-19 has presented to interns and their sponsors;(3) the extrapolation of number of intern affected and ballpark economic dollar loss they, individually and collectively suffered. from COVID 19;and, (4) communicate with this study's readers lessons learned and best practices employed in other types of crises and cross-cultural crises. As there is no precedent anywhere to the present global COVID-19 virus pandemic crisis this study, as it is economic fallout focused, used the works of precedent authors of studies related to ebbs and flows of economics related to the internship subsector during the U.S. Great Recession years' (2007-2016) to harvest from them lessons learned and best practices, and, as well, formulated some insights of today. Figures and tabular presentations are offered, along with categorized table of recommend good reads, for those interested, concerning the coping with and survival of crises' pending, occurring, and recovery years.