COVID-10 Challenges to business management Assignment

Task

Choose an Australian organization and produce a 3-4 minute long video presentation using the CSU Replay platform. In terms of current concepts of business strategy, briefly outline how COVID-10 presented some significant challenges to business management. Then, in your presentation briefly explain how COVID-19 impacted your chosen organization and its stakeholders and how that organization responded to it.

The organization should have sufficient information available online. If the organization of your choice operates globally, focus on one country, preferably Australia. Focus on one business if the organization has multiple businesses. The presentation will need to inform your audience of the organization's size, mission, vision, values, and performance (key streams of revenue and loss).

As another option, you may wish to choose one of the following sporting organizations: Australian Football League (AFL), National Rugby League (NRL), Cricket Australia or Netball Australia. These organizations were greatly impacted by the COVID-19 pandemic which changed the landscape in which they operate as well as the way they operate.

Make a wise choice when selecting an organization, as you will be using this same organization in all the assessment items for the subject.

This question fundamentally refers to two major reasons:

For strategy resource allocation

Responses to changes in the external business environment.

Apart from ensuring survival, a strategy is a key driver of how and where the organization invests its resources. The strategy of an organization will be evident in its pattern of investments. The strategy also ensures the organization has sufficient flexibility to respond to environmental changes.

The business environment in most industries is becoming increasingly complex:

Customers are becoming more demanding, and…
Competitors’ (local, regional, national and multinational) ability to take advantage of other organization weaknesses is much stronger than before.

Strategic management is the interface between an organization and its external environment and addresses the need to respond to these forces.

Vision refers to the desired (long-term) future state of the organization
Mission refers to a shorter-term version of the vision, incorporating the values and expectations of the major stakeholders and contemporary environmental factors
Value statement is a brief description of the stakeholders and behaviour the organization considers most important
Ethical position refers to the standard of behaviour the organization sets for itself and its staff members

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