Strategic Management

This assignment requires you apply a concept or theory we have learned to a subject
that is current in the ‘real’ world. The assigned topic for Strategy In Action is: Any
National Company (examples include Olive Garden, Sears, Carnival Cruise, Delta
Airlines, Ford, etc.) EXCEPT the FITNESS INDUSTRY (it is the example in the article
below) that has been negatively impacted by COVID-19. Once you have selected a
company, develop strategies for the organization to reinvent themselves to overcome
due to setbacks and lost business from COVID-19.
Here is an example of an industry and several specific companies who are evolving:
https://www.cnn.com/2020/04/01/business/fitness-studios-coronavirus/index.html
In Chapter11, we examine and explore strategic change.
Your Assignment: Conduct research on organizations that have re-invented
themselves (making strategic changes to remain competitive in a changing global
business environment). There are MANY examples available for study. Remember,
examples do not have to come from the same business or even the same industry.
Using our textbook and your own research write at least two pages of analysis and
discussion on key findings/elements of companies that have been successful in
‘reinventing’ themselves to remain competitive in a changing global market
environment. You must incorporate at least 5 quality sources.
Next, based on your findings, prepare a minimum one-page recommendation for the
board of directors of your selected company to address the challenge of reinventing
itself. Include specific recommendations that that include the discussion and
implementation plan for at least 3 new initiatives your selected company can pursue to
reinvent themselves. Put these together in one document for a MINIMUM three total
pages of content (not including reference and titlepages). Please follow APA format
guidelines.
In other words, after writing an analysis evaluating what companies have successfully
done to reinvent themselves(2+pages), you should be in a position to make
recommendations for the board of your select company (1+pages). Act as if you are a
consultant, hired to help the company progress. What advice or guidance would you
offer them based on the information you ascertained during your analysis? Include
BOTH qualitative and quantitative support for your recommendations as you link your
writing back to the course material as well as your own research.