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Book/movie review
22/08/2022
Question:
Title:
Stakeholder Meeting Simulation
Assessment Task
This is an individual assessment with a component of the work to be conducted in stakeholder groups.
In your stakeholder group, you are required to:
Meet, discuss and agree on three new or revised strategy optionsin response to the disruption raised in this brief
Apply strategy conceptsin your stakeholder meeting discussions to identify options.
Produce a teamwork log
Individually, you are required to produce a white paper:
Nominate the preferred strategy option relevantto the disruption raised in this brief and apply a strategy framework/s
Discuss the implicationsspecifically relating to your part of the business
Context
The assessment of this subject supports students in developing their skills and knowledge in topics that include environmental assessment, problem diagnosis, strategy development, and cultural and ethical contexts. Stakeholder meetings are a critical element in strategic management. This assessment task provides experience and immersive understanding of the complex interactions involved in the development of strategic choices, and the need to take an integrative approach to problem solving. The increasing pace of technological change and the increased impact of social media provides many challenges for businesses attempting to navigate towards growth and increased profitability. Rapid cycle times for new products can lead to decisions being made that are not always in the best interests of the long-term survival of the firm. Disruptions to the everyday course of business come from anywhere and need to be responded to often in short time frames.
Scenario Recap
Pro-Go Pty Ltd is a privately-owned manufacturer of small, high-quality action cameras based in Geelong, Victoria. Founded in 2004 it has enjoyed continuous year-on-year growth until the last financial year. Pro-Go has a track record of innovation, and technology that provides excellent quality results in a small package able to operate with small batteries for extended periods of time. The video files these cameras produce are known for having superior colour, and operate effectively in lower lighting conditions than competitors cameras. They are also marketed on the basis of their extreme ruggedness, and reliability. Much of the technology used in its devices has been patented by Pro-Go and is not currently available to other manufacturers.
The Pro-Go management team recognised that the ability to capture videos is now a feature of most phones. It suggested to them that the future of the stand-alone camera may be limited. At the time, Pro-Gos CEO requested the executive team meet independently to develop a strategy to guide the company over the next five years.
Disruption
Emerging from a very tough year brought about by COVID-19 and the faltering adventure tourism market, Go-Pro has watched as its traditional customer-base dwindledin response to these pressures and the arrival of new entrantsinto the action camera space.
Pro-Go needs to regain market share by continuing to remain relevant to its current customer-base and attracting additional customers who have never been considered as potential customers.
The Pro-Go management team has tasked the stakeholder team to meet and develop a modified set of strategies to respond to the disruption and articulate the way forward for the company.
Important information
In the past, Pro-Go had considered opportunities to increase sales by producing and marketing products that addressed the COVID-19 situation and the troubled adventure tourism market, but the company no longer wants to pursue this approach. Consequently, the CEO has explicitly stated that the companys new strategy must not focus on COVID-19 or the adventure tourism market.
Instructions
Re-convene the (emergency) stakeholder meetings to address the disruption scenario. The stakeholder meetings must discuss this disruption and develop a modified set of strategies.
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