You
are to select a firm that is experiencing significant economic, social,
personal distress as a result of the fallout from COVID and the
measures taken to combat it. You are writing as a managerial economics
consultant with no way of predicting the course of the virus, how long
it and restrictions on business activities will last, or what the
economic climate will be like in the future. Begin by providing a BRIEF
background and history of the firm and their place in the
industry/economy they operate in. Historical information is to be short.
More important is their current status – but not the most important.
The firm you are consulting for knows its history and is primarily
interested in learning about what they can do in the present and near
future – this is where the great majority of your work should be.
Detail the challenges they face at present and may encounter in the days
ahead. Frame these challenges in the context of the real risks and
uncertainties being dealt with. With the goal of helping the firm to
eventually reach a fully functioning and healthy, profitable state, you
are to provide recommendations for what actions they should take to deal
with these successfully. This is the core of the project and where the
majority of your efforts are to be directed. These actions should be
practical, achievable and clearly stated – no fuzzy, feel good notions
allowed. The material should be based on what you gain from sound
industry/firm/economic/societal research and the application of a broad
range of concepts and theories covered in this course, with more from
economics and other relevant areas added at your discretion.
Do not select business that are currently successful,
like Google, Facebook, Home Depot etc. Find one that is of interest to
you that is experiencing real distress and may not survive. Do not use
any work from previous classes or individuals (your own or others).
Material in this Research Project is to be CURRENT – as in up to today
if possible – with a clear focus on what can be done in the days ahead.
The final product is to be a 3-5 page report submitted here as a word
document, with all sources referenced. The 3-5 pages does not include a
cover page or references and any charts, graphs, pictures etc. can be
put in an appendix. The format is mostly up to you, with the qualifier
that it serve the interests of firms needing paths of action that enable
them to survive and prosper. To that end, do not use SWOT etc. forms
that are not suited to the specifics of the present and near future.
A
REAL firm must be selected that is experiencing REAL distress, with you
developing REAL solutions to be used in the present and future, not
what has already been done. – these should be approximately 80% of the
final product. NO CREDIT WILL BE GIVEN IF THESE REQUIREMENTS ARE NOT
MET.
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