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Consider the following scenario. A fault has been identified in a popular paracetamol product that your company produces. As a result, all your products containing paracetamol ( Which were on shelves across Australia) have been recalled.
This is expected to severely damage the anticipated profit levels for the year. put yourself in the position of this company’s senior management and identify the key result areas you would select to focus on to deal with this crisis. This will require you to develop a specific strategy for this crisis and not a long-term strategy focused on competitors and traditional industry success factors. (and access them in the recommended text book) (Grant et. al., 2011).
To prepare a write-up you should:
a) Prepare a brief ‘point form’ summary of your understanding of given situation based on your readings, work experience, talking to industry insiders and leaders etc. (this should be 1 page long).
• Your answers to the given questions should be presented using persuasive techniques of writing. This requires you to address the issue from various perspective before making your final judgement and recommendations.
• How can various concepts of corporate strategy help to address the given setting? Support your discussion by using practical examples from your life, work experience or media resources.
• What were the limitations of your project? – Try to be more specific rather than using common reasons such as limited time and information. What particular information would help you to make your analysis more accurate?
• What can be learnt from this situation? Can the lessons from this situation be generalised and transferred to other situations?
You should state which theoretical concepts and issues of the unit you are applying to address the given task. Note: you will not be expected to comment on issues that have not yet been covered in classes, however you might refer to concepts of the unit which were previously studied in your unit.
Above 80 %
Contribution conveys an internalised understanding (own words) illustrated with examples from own life world, and interpreted in / extended to other areas of application (e.g. family, work, sport, politics, global dynamics, etc.); and/or considered and the implications for institutional management, organisational or industry dynamics are outlined