Could you please select anyone of these Strategies1. Increase resilience and circular economy in supply chain.
2. More investment for innovations and development ( Funding from banks in case of emergency )
3. Partnerships with other technical companies
Page 1 of 6 MGT604 Assessment 2B Brief – this brief supersedes all previous MGT604 Assessment 2 Part B briefs ASSESSMENT 2 Part B BRIEF (T1 2021) Subject Code and Title MGT604/MGMT6011 Strategic Management Assessment Stakeholder Meeting Simulation and White Paper PART B: Final Submission Individual/Group Individual Length Up to 2,000 words Learning Outcomes b) Critically evaluate different strategy formulation processes utilised by organisations and evaluate their relevance to particular organisational contexts c) Develop and plan the implementation of a selected strategy for different organisational levels including for change management processes Submission By 11.55pm AEST/AEDT Friday of Module 4.2 (Week 8) Weighting 30% Total Marks 30 marks Context: The assessment of this subject supports students in developing their skills and knowledge in topics that include environmental assessment, problem diagnosis, strategy development, and cultural and ethical contexts. Stakeholder meetings are a critical element in strategic management. This assessment task provides experience and immersive understanding of the complex interactions involved in the development of strategic choices, and the need to take an integrative approach to problem solving. The increasing pace of technological change and the increased impact of social media provides many challenges for businesses attempting to navigate towards growth and increased profitability. Rapid cycle times for new products can lead to decisions being made that are not always in the best interests of the long-term survival of the firm. Disruptions to the everyday course of business come from anywhere and need to be responded to often in short time frames. Introduction Assessment 2 Part B continues from the scenario in Part A. In Part B, a disruption is introduced which necessitates re-consideration of the white paper done in Part A of the Assessment. Here is a recap of the scenario. Scenario Recap Pro-Go Pty Ltd is a privately-owned manufacturer of small, high-quality action cameras based in Geelong, Victoria. Founded in 2004 it has enjoyed continuous year-on-year growth until the last Page 2 of 6 MGT604 Assessment 2B Brief – this brief supersedes all previous MGT604 Assessment 2 Part B briefs financial year. Pro-Go has a track record of innovation, and technology that provides excellent quality results in a small package able to operate with small batteries for extended periods of time. The video files these cameras produce are known for having superior colour, and operate effectively in lower lighting conditions than competitor’s cameras. They are also marketed on the basis of their extreme ruggedness, and reliability. Much of the technology used in its devices has been patented by Pro-Go and is not currently available to other manufacturers. The Pro-Go management team recognised that the ability to capture videos is now a feature of most phones. It suggested to them that the future of the stand-alone camera may be limited. At the time, Pro-Go’s CEO requested the executive team meet independently to develop a strategy to guide the company over the next five years. Disruption: The adventure tourism market has been significantly impacted by the events of the past year, and this has dramatically impacted sales of Pro-Go’s flagship action cameras and subsequently the company’s bottom line. Additional information: Pro-Go had considered opportunities to increase sales by producing and marketing products that addressed the COVID-19 situation, but the company no longer wants to pursue this approach. Consequently, the CEO has explicitly stated that the company’s new strategy will not focus on or refer to COVID-19. The Pro-Go management team has tasked the stakeholder team to meet and develop a modified set of strategies that will articulate the way forward for the company. Instructions: Re-convene the (emergency) stakeholder meetings to address the disruption scenario. The stakeholder meetings must discuss this disruption and develop a modified set of strategies. Please return to your groups immediately to discuss these events and adjust your strategic approach accordingly. Suggested format Your 2000 word, individual, White paper should be structured as follows: • Executive Summary – Briefly summarise the entire report • Table of Contents - Make it look good. Include page numbers and ensure the layout looks balanced on the page. • Introduction - Provide background and context to the report. Tell the reader what has happened in the past that has led to this report being needed. • Aim - State in a single sentence what this report is seeking to achieve. • Discussion - Cover the content you wish to address. You must incorporate theory and application of strategy formulation methods. • Conclusion - Restate the aim and sum up the discussion to demonstrate to the reader that the aim has been satisfied. There should be no new content in the conclusion. Page 3 of 6 MGT604 Assessment 2B Brief – this brief supersedes all previous MGT604 Assessment 2 Part B briefs • Recommendations - What are the next steps? What is required to progress into the future? Evaluate/justify your recommendations? • References - Please ensure you use the correct APA referencing style throughout. Remember EVERY factual statement requires a reference. • Appendices - Additional material to substantiate or add greater depth to the material presented in the report, and your Teamwork log. The white paper is to be completed individually by each member of the team reflecting the impact of the proposed strategy on their part of the business after the disruption and should be completed to the professional standard that would be required if the below scenario were real. Deliverables The stakeholder meeting/s will discuss and agree on three new strategy options for Pro-Go in response to this disruption. In doing so, the Stakeholder meeting/s may consider strategy options that exist in adjacent markets or with related but different products or technologies. Remember to apply strategy concepts in your stakeholder meeting discussions to identify strategy options. The deliverables required of each student are to produce a white paper covering the following: 1. Nominate a single preferred strategy option and apply a strategy framework(s) to analyse and justify why you believe it is the best strategy option; and 2. Discuss the implications specifically relating to your part of the business, and what challenges these might represent. Separate the discussion into short-term and long-term issues. Students are to address the assessment task from the perspective of their own functional area of responsibility, for example the SFM will be focussed on the finance department. You are to integrate theory in your white paper. Ensure that the three new strategy options do not become the focus of the white paper – no more than a brief paragraph in total should be devoted to the three options. The majority of the paper must be about the single preferred strategy option. Appendix – Teamwork Log: Students should also keep a log of how they have worked together as part of a team in the delivery of this project. This includes meeting dates and times, meeting minutes/notes, a detailed description of how tasks were allocated and completed (and by whom), copies of emails and/or written discussion regarding the project, and any other evidence of teamwork that students would like to include. All students involved in the project need to check the log before submission. It is assumed that the final submission has been agreed between students as being an accurate record of the work that has taken place for the project. The appendix log must be submitted with the assessment but is not a part of the overall word count. Submission Instructions: Assessment 2 Part B Final White Paper is to be written according to academic writing guidelines and must be submitted in compliance with the following; Page 4 of 6 MGT604 Assessment 2B Brief – this brief supersedes all previous MGT604 Assessment 2 Part B briefs 1. You should make significant references to the subject material and substantial wider reading. A minimum five (5) academic (books & peer-reviewed journal articles) & two (2) other sources (newspaper article, trade publications, websites, etc.) must be used. These should be referenced in the APA 7th style, both in-text and in a reference list. References to ‘Wikipedia’ or similar unsubstantiated sources will not be accepted. The assignment is to include in-text citations and a reference list following the APA 7th referencing style. The APA referencing guide can be located in the Academic Writing Guide at https://library.torrens.edu.au/ld.php?content_id=49180373 2. Students will also need to participate in the stakeholder meeting. Some class time (for class- based students) will be allocated to this discussion. Online students will need to participate in pre organised forums/sessions. In addition, a summary of notes and ideas discussed during group work sessions needs to be attached to your submission as an appendix (but will not form part of your final word count). 3. Submit the Assessment 2 Part B: Final Submission (with references) via the Assessment link in the main navigation menu in MGT604 Strategic Management on the Student Portal. The Learning Facilitator will provide feedback via Grade Centre in the Student Portal. Feedback can be viewed in My Grades. References Students should use the brief to guide what to include in the assessment and the following rubric to inform the standard required. Page 5 of 6 MGT604 Assessment 2B Brief – this brief supersedes all previous MGT604 Assessment 2 Part B briefs Learning Rubric: MGT604 Assessment 2 Part B Stakeholder Meeting Simulation Final Submission Assessment Attributes Fail (Unacceptable) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75 -84% High Distinction (Exceptional) 85-100% Research and comprehension: 30% Content does not adequately demonstrate a postgraduate standard of detail and thought Content somewhat superficial or with some gaps in understanding Good coverage of the topic with clearly articulated explanation of the topic. Reasonable fit between theory and practice Thorough coverage of the topic. Good application of theory. Good use of credible sources Demonstrates a comprehensive understanding; insightful discussion; excellent and relevant application of theory. Multiple and credible references used Analysis and synthesis: 30% Reader cannot understand the foundations of the topics from the information provided. Poor logic. No evidence provided to support arguments. Disruptive event not adequately considered Basic intent covered; analysis and arguments could be more convincing with some evidence provided. Disruptive event considered but with little insight Reader understands the arguments presented through focused analysis and evidence. Disruptive event