Reference no: EM133074281 , Length: word count:2500
Business Contexts and its Management
Assignment - Industry Trend Analysis
Assignment task: To provide an insight into what tools business can use to define their business context and how they use reactive and pro-active strategies to build and manage a competitive business.
Learning outcome 1: Analyses a business context and its influence on management decision;
Learning outcome 2: Apply a range of analytical tools to aid in defining a given organisations business context and markets;
Learning outcome 3: Demonstrate an understanding of management practice in response to a business context challenge;
Learning outcome 4: Reflect on a response by management functions to a business challenge and describe an alternative strategy.
Task requirement:
OVERVIEW
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 afterthe COVID-19 crisis is over. Industries likely to see post-pandemic profits includeonline 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 economysome 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 fromeither high street retail, automotive or E-commerce industries(sectors) and analyse the industry trends
2) Produce a report recommending business strategies and approaches to be employed by the organisation in the next few years.
PART 1: Industry Trend Report - 2,000words
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).
b) Analyse theInternal 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 KurtLewin, John Kotter, Kubler Ross theories on change.
e) Stakeholder analysis: Analyse the impact on stakeholders employing Edward Freeman Stakeholder theory tool or Stakeholder mapping.
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).
Attachment:- Industry Trend Analysis.rar