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Business Revision Exercise on Chapter 12
(The Manager as a Planner and Strategist) (Value Chain Management: Functional Strategies for Competitive Advantage)
The COVID-19 pandemic that began in early 2020 impacted a number of businesses, large and small, across Canada and worldwide. Companies were forced to either close their doors or, in many cases, forced to close up their entire business. In many cases, however, companies were able to adjust or plan a new strategy for their organization to adjust to the changing business environment.
Examples include some small craft breweries that switched from making beer to making hand sanitizer. Big companies like Walmart hired over 10,000 new employees in Canada to help with the exponential increase in online sales.
Required:
What type of planning would have been used for these companies to change their current strategies so quickly to meet the demands of a changing business environment.
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