FORMATNE ASSESSMENT $2$

Read the scenario below and answer ALL questions that follow

Instructions:

Identify an existing organisation in an industry of your choice. The organisation can be either a profit or non$-$profit seeking

organisation. If it is necessary, you may use a fictitious name for the organisation $-$ however, do note that whatever

information you use for your project is for assessment purposes only and will not be shared with third parties. If possible,

select an organisation that you are familiar with and where information can be made available to you as per the

requirements of your project. Please nota that you are expected to fully base your answers on the chosen entity.

Using the chosen organisation as the basis for your project, attempt the following questions:

PROJECT FORMAT

Introduction $-$ this will provide a brief overview of your project and sets the context.

QUESTION $1$

Give a background of the chosen organisation that will provide adequate contaxt for your project. This should include

information such as: $-$

a$)$ Company description $($constutuents and services offered$)$ and brief history.

b$)$ Leadership

c$)$ Parent company or subsidary information

d$)$ Branches$/$locations

e$)$ Operational highlights $-$ number of employees, goals, and accomplishments

QUESTION $2$

$(30$ Marks$)$

Risk management serves as a tool for categorising and responding to risks, as well as for maintaining control over real$-$

world situations, the effectiveness of actions, and regulatory compliance. Effective risk management introduces a fresh

perspective on a company's internal and external exposures, whether projected or past. To be sustainable and effective, the

risk assessment process should be straightforward, practical, and easily comprehensible, with strong support from

management and adequate resources.

Given the statement above, critically discuss the concept of risk as it applies to your chosen entity. Suggest strategies to

deal with the specific risk issues faced by your chosen entity.

QUESTION $3$

$(25$ Marks$)$

It is important for an organisation to understand where it is in the industry life cycle as it provides valuable insights for

strategic planning and decision$-$making. By understanding the current stage of the industry life cycle, an organisation can

make informed choices regarding resource allocation, market positioning, and innovation strategies. This understanding

helps in anticipating competitive dynamics, identifying potential opportunities and threats, and developing appropriate

strategies to stay compettive and sustainable.

With this in mind, suggest strategies that your chosen entity should employ to be sustainable in its industry.

QUESTION $4$

$(20$ Marks$)$

The significance of strategy implementation within the strategic management process lies in its pivotal rola in translating

formulated strategies into actionable initiatives aimed at realising the organisation's objectives. Its effective execution

ensures the transformation of strategic plans from theoretical constructs into tangible$,$ impactil outcomes. Moreover, adept

strategy implementation faciliates the seamless alignment of organisational resources, activites, and processes toward the

attainment of strategic goals, thereby fostering enhanced performance and sustainable competitive advantage.

Using examples, critically analyse the implementation strategy adopted by your chosen organisation. Your answer should

include recommendations.

QUESTION $5$

Strategy evaluation serves as a crifical chedppoint for assessing the progress and effectiveness of implemented strategies,

enabling organisations to ascertain whether desired outcomes align with predetermined objectives. This stage facilitates the

identification of deviations or shortcomings, allowing for timely adjustments and refinements to the strategic direction.

Additionally, strategy evaluation provides valuable insights into the allocation of resources, allocation efficiencies, and the

overall adaptability of the strategic plan in dynamic business landscapes. Ultimately, this phase acts as a conduit for

informed decision$-$making, fostering a culture of continuous improvement and ensuring that strategic endeavours remain

aligned with organisational goals and market demands.

Using the Balanced Scorecard, critically evaluate the strategy of your chosen organisaton.

Conclusion $-$ this will bring closure to your project. The conclusion helps to ensure that the marker leaves with a clear

understanding of the significance and implications of the project.