The Coronavirus brought the world to a standstill, and as a result many businesses are struggling to stay afloat or have ceased trading. However, some industries have seen profits increase, and are likely to continue to do so after the COVID-19 crisis is over. Industries likely to see post-pandemic profits include online meeting platforms, dating apps, cybersecurity, online teaching, e-learning resources and classes, online fitness, video games, children`s toy, entertainment streaming service, books, online supermarket deliveries, food delivery, online shopping, major supermarkets, legal services, pharmaceuticals, cleanliness products, remote medical services, electric cars, electric scooters, cycling, gardening and private jets
According to Deloitte 2020 proved to be a tough year for the retail sector and while they looked forward to a better year, a second wave of the COVID-19 virus pushed back the prospect of a consumer-led recovery to the second half of the year. The McKinsey and company reported that disruptions in the auto industry will result in billions lost, with recovery years away. Companies that reimagined their operations during this period in this industry saw an increase in electric and hybrid vehicles sales. As COVID-19 shook the global economy some sectors experienced rapid growth. Amazon.com Inc.`s e-commerce revenue saw gains of 47.0% year over year for second quarter 2020. A spike in sales from Amazon`s core e-commerce operations, which include online stores, third-party seller services and retail subscription services has fuelled its revenue growth amid the COVID-19 pandemic.
As a management consultant you have been contracted to provide recommendations and advise for businesses seeking to formulate ‘post-pandemic’ strategic plans.
1)Select an organisation from either high street retail, automotive or E-commerce industries(sectors) and analyse the industry trends (Learning Outcomes 1, 2 & 3)
2) Produce a report recommending business strategies and approaches to be employed by the organisation in the next few years. (Learning Outcomes 4)
DESCRIPTION OF THE TASK – WHAT YOU ARE BEING ASKED TO DO?
PART 1: Industry Trend Report – 2,000 words
The analysis should include the following:
a) External environment: Recent revenue growth statistics (the data should not be older than 3 years preferably) Trends in the external environment of the industry: Identify three trends in the external environment based on research that you conduct. Include a supporting from Market size (TAM, SAM, SOM), the Business Cycle model, Industry sector analysis or Blue ocean strategy). Analyses a business context and its influence on management decision;
b) Analyse the Internal environment based on organisational competence analysis utilising McKinsey 7s, VRIO Framework.
c) Operational management: Assess the effectiveness of operational management and include theoretical models (TQM, JIT, Kaizen, Six Sigma)
d) Managing change: Assess the potential impact of change justified by Kurt Lewin, John Kotter, Kubler Ross theories on change.
e) Stakeholder analysis: Analyse the impact on stakeholders employing Edward Freeman Stakeholder theory tool or Stakeholder mapping. Analyses a business context and its influence on management decision;
PART 2-CLIENT REPORT 500 words
a) Report- Prepare a report outlining the conclusions of the analysis.
b) Strategy recommendation: Suggest business strategy utilising approaches such as Plan, Do, Check Act(PDCA).
See attached grid for grade descriptors.