Learning Goal: I’m working on a management writing question and need an explanation and answer to help me learn.
- Covid-19 emerged from the social/demographic general environmental sector. Is there any evidence that you’ve uncovered in your company research that suggests or implies the company or any rival had “seen this coming” or had developed strategies for dealing with this type of disruption?
- Describe how the pandemic presents a threat and/or opportunity for your industry (not just your company). In other words, what is the immediate and likely long-term effect on demand for your industry’s product or service? Note that not all industries are adversely affected – see food retailing, delivery services, video conferencing applications, PPE manufacturers…
- Analyze the pandemic’s effect on the competitive forces in your industry. Which of the forces may become more or less powerful in terms of profitability for participants in your industry? Buyers, Suppliers, Substitutes, Potential Entrants, Rivalry among existing firms.
- Which industry participants – including your own firm – have resources that have become more significant in this environment? Think in particular of key value chain activities or organizational capabilities that have emerged as more valuable in terms of competitive advantage. Alternatively, what weaknesses have emerged to expose companies and hasten their competitive demise?
- Going forward what are the long-term effects of the pandemic on your company? Strategically? Operationally? Tactically? Rivals who will improve their competitive position and those that will decline or cease to exist
- Please be sure to respond throughly to all 5 prompts