COVID-19, a highly infectious respiratory disease that has wreaked havoc in nearly every corner of the globe, is said to spread through small droplets, entering the body through the eyes, nose, or mouth.

The economic impact of this pandemic has been felt domestically, as well as internationally, as the public's fear of contamination has increased and policies regarding this outbreak have become stricter.

With many cities, states, and countries imposing strict social distancing or shelter in place orders, there have been countless mass gathering and event cancellations, as well as business and school closures.

While many fear this threat to financial stability across all industries and the global economy, business leaders can still take the recommended steps by following guidelines from the Center for Disease Control and World Health Organization to create an effective response to this coronavirus crisis.