ASSESSMENT: COVID 19 in the business environment that require the attention of the Board of Directors and the Chief Executive Officer
Component 1: This assignment consists of an individual report. This component makes up 40% of the total module mark.
STRATEGIC MANAGEMENT ACCOUNTING IN THE CHANGING BUISNESS ENVIRONMENT
The changing business environment has brought pressure to bear on many organisations and in the process, upsetting the delicate balance that previously existed in the strategic-making process.
However, globalisation and the turbulent nature of current business environment, especially, COVID-19 requires the strategic management accountant to be proactive in order to gain competitive advantage. Michael Porter (1990) asserts that firms must explore and implement different strategies to prevent external influences and stay ahead of competition. You have recently been appointed as a Junior Management Accountant in a blue chip global organization. The Board of Directors and the Chief Executive Officer are planning to hold a meeting with you to discuss the strategies that will help the business to survive the current dynamic business environment. You are to write a report of 2000 words maximum to present at the meeting.
(A). In your report, you are required to critically discuss recent trends, especially, COVID 19 in the business environment that require the attention of the Board of Directors and the Chief Executive Officer as a management accountant. You should support each trend with particular reference to the existing literature (30 marks).
(B). Using the existing literature, you are required to provide critical discussion and evaluation of the Porters generic strategies with clear demonstration of how the implementation of generic strategies will help your firm to stay ahead of the impact of COVID-19 and competition in a global environment. You should provide empirical evidence and support your discussion with appropriate references from the literature (30 Marks).
(C). Suggest and discuss how the Value Chain Analysis and Porter’s Five Forces will be used by your firm to gain competitive advantage in a COVID-19 business environment and global environment. You should support your answers with relevant literature and appropriate references (40 Marks).
This individual assignment must show cohesion in analysis and development. It must be your own work with supporting evidence from the literature appropriately acknowledged. Also a match between your in text citation and bibliography must be maintained, consistent with Harvard style. Please note, plagiarism does not only exhibit lack of academic discipline BUT constitutes a serious offence!
[Total: 100 marks]
Note: You should structure your answer in a Report format.
Your report should include:
- Title Page
- The title page must include the following:
- The Title of the project: In this case, Strategic Management Accounting in a changing Business Environment
- Student number: your NAME must NOT appear in the report
- Course name and year of submission.
- Executive Summary (No more than 50 words)
- Contents Page -This page lists the main parts of the report, together with their page numbers.
- Introduction – A quick overview of the COVID-19 Business Environment. In addition, the structure of the report should be identified.
- Main body, which should also be organised under appropriate headings and sub-headings should address the various aspects the Business Environment and different strategic directions.
- Conclusion & recommendations
- Appendices, which should be numbered.
- Make sure you refer your reader to them as required.
- Word count; excluding appendices and references list.
- Bibliography using Harvard Referencing conventions.
The word count of 2000 words will not include the title page, executive summary, contents page or bibliography.
It is important that you show knowledge of key debates within the literature on changing business environment and strategic directions within your selected industry or organisation. Also, it is strongly advised that you are critical in your writing and ensure a good level of integration and coherence in applying theories. Please work on, and ensure an excellent level of criticality, coherence, and flow of your report. This will require effective discussion and clarity.
Please note that a significant amount of the marks are awarded on the basis of wider reading, critical and logical presentation, quality of argument, referencing, academic integrity and academic writing conventions. Please see Assessment Criteria on the Moodle.
The reassessment will be a resubmission of this report, with track changes made in response to the feedback given.
You will need to retrieve this assignment if any of the following occur during the semester:
- You fail to achieve 30% or more for this assignment
- You fail to achieve 40% for the module and you failed to achieve 40% or more for this assignment.
- You will be expected to complete the same assignment within one month for your second attempt. Your assignment brief will be available on Moodle in due time which is yet to be confirmed.