Running head: IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER Impact of governmental action on a business paper MBA 665 PENGCHENG HU 11.11 2018 1 IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 2 Abstract Some regulations such as minimum wage bill are mandatory. However, others impact businesses indirectly. Therefore, it is important for business to be flexible enough in responding to rapidly changing policies and rules. Government regulations affect and influence financial situations of business in many ways, but the impacts depend on the regulatory mechanisms put in place. It is important to consider and ensure that the employees are hard working, highly motivated and talented enough for the job (Noe, 2016). This will help to produce and ensure positive results in compared to less talented and unmotivated workforce. The relationships and processes within the departments can help to improve and enhance efficiency and effectiveness. In addition, in highly performing workplace, employees are not only well talented but work in collaboration. The departments and employees collaborate on resolutions and ideas. The internal factors also include weaknesses and strengths. The company should accept and undergo changes in order to enhance and encourage successfulness. For instance, the organization should consider upgrading services and products, train its employees, improve technologies to enhance consistency business performance. this can be enhanced by changing the manner of work performance, increasing or reducing the number of hours, increase of the number of performing business per week, reduction of staff, changing expectation from customers, refurbishment of systems, and seasonal trade of new system (Aguilar, 2017). Such changes are may be temporary but should be encouraged. In addition, restructuring of departments, teams or whole organization is highly recommendable. It is also important to change the way employees work in order to suiting their business needs and to improving performance. IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 3 Business environment Impact of the governmental action on the business’s financial situation and operations Government regulations affect and influence financial situations of business in many ways, but the impacts depend on the regulatory mechanisms put in place. For instance, increased regulations can results in increased workloads for persons in financial-related services since it tend to take effort and time for adaption of business policies and practices that adhere to the newly created regulations. Further, while the increased workload and time that result from government regulations can be detrimental and negative to credit service firm and individual financial companies in short terms. On the other hand, positive government regulations can be beneficial to the financial industry in long-term run. For instance, the Sarbanes-Oxley Act was enacted by the Congress as a response to numerous financial scandals that involved huge conglomerates such as Worldcom and Enron. The Act held the senior directing and managing official of key conglomerates accountable for financial misstatements. The act also required and made it mandatory for establishment of internal controls the companies to preventing future abuse and fraud. However, the implementation of the regulations was considerably strenuous and expensive but gives increased protection to the people who invested in such financial services (Noe, 2016). This helped to increase investors’ confidence and improved corporate investments. It should be noted that government enact and establish many policies and regulations that guide operations of businesses. Some regulations such as minimum wage bill are mandatory. IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 4 However, others impact businesses indirectly. Therefore, it is important for business to be flexible enough in responding to rapidly changing policies and rules. Sustainability –how government actions impact the sustainability of the business In any market economy action of government exert far-reaching influence on the activities that businesses engage in and on the costs, revenue and the earnings. In addition, public and government policies are important for establishment of legal systems and special rules under which business operate. It is also the duty of government to impose taxes on businesses as a way of reflecting the business’ usage of public services and collection of revenue to financial government operations. It is important to note that businesses are establishment through government’s set rules and regulations. Therefore, they are legal entities established under laws enacted and enforced by government (Noe, 2016). Therefore, the impact of government on business sustainability is not only through laws but also through special policies, judicial decisions, regulations, taxes and government spending. However, government actions are rapidly changing and they are considered as part of dynamic operating and functioning environment of businesses. For instance, the government policies that address climate change and energy use in the United States and other countries have impact on all businesses but have important and specific impacts on businesses. In essence, the United States and other nations’ governments are considerably important in an effort to ensuring a resilient and strong economy. For instance, in the United States, macroeconomic policies are majorly influenced and determined by the executive government branch, including the Federal Environmental Protection Agency and Secretary Chy’s Us Department Of Energy. Internal resource – is business adequately organized to address the opportunity or threat IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 5 It is important to note that the internal business resources are comprised of the factors within the firm that have far-reaching impacts on the successfulness and operations of business. however, unlike the external business environment, the company has a full control of the factors. It is crucially important to recognizing the potential threats and opportunities out the company’s business operations. Nevertheless, management of the strengths of the business is a key to ensuring and promoting success. The role and function of company leadership is a fundamental internal factor. The business management style has far-reaching impact on the organizational culture. the firm provides strong formal structure with its vision and mission statements. Some of the cultural impacts that result from strong leadership approach include: a) Negative or positive nature b) Employees’ values c) Communication effectiveness Employees’ strength is a fundamental internal factor. It is important to consider and ensure that the employees are hard working, highly motivated and talented enough for the job. This will help to produce and ensure positive results in compared to less talented and unmotivated workforce. The relationships and processes within the departments can help to improve and enhance efficiency and effectiveness. In addition, in highly performing workplace, employees are not only well talented but work in collaboration. The departments and employees collaborate on resolutions and ideas (Zimmerer, 2015). The internal factors also include weaknesses and strengths. The internal factors have greater influence on how firms meet their objectives. For instance, strengths have positive impact on the weaknesses of business. IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 6 Some of the examples areas that are considered in business internal factors are: Physical resources like facilities, equipment, and location Financial resources like investment, funding and source of income Human resources like target audiences, employees and volunteers Current processes like software systems, employee programs, and department hierarchies Accessibility to patents, natural resources, trademarks and copyrights It is important for the company to consider such elements such as its image and internal culture, the roe of staffs, operational potential and efficiency. Operational and organizational – these are core parts of administrative and operational procedures. This includes inaccurate or disorganized record keeping. In addition, interruptions to your outdated, supply chain or faulty IT systems are key factors to be taken into account. If the business fails to overcome these, it may end up losing its customers for lack of reliability. Innovation – it is important for business in order to keeping up with the competitors. Marketing is one form of innovation that the company can undertake. Embracing of new technology is a meaning way of keeping up with rapidly changing technological advancements. Financial – successfulness of the business entirely depends on the financial systems and business transaction. For instance, changes in business interests’ rate or being over reliant on same typical customer can negatively affect your business. Therefore, it is important to ensure effective financial management (Zimmerer, 2015). IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 7 Communication – how information about situation been communicated to various stakeholders Essentially, keeping the key business players is considered as the bread and butter of business success. Whether they are facilitators, deal makers, buyers or suppliers, business stakeholders have the power to break or make your business successfulness. Below are the recommendable ways of communicating to your stakeholders Identification of the key stakeholders – once you understand your key audiences, the business management is required to tailoring the actions to meeting their needs. Creation of management plan – the plan should encompass of objectives and goals of your company and in helping improve the business operations, at the time establishing positive relationship with the targeted audiences and hence establish positive results. Providing constant and continued update – it is important to consider keeping your business key players consistently informed of the established developments. It is advisable to inquire from them appropriate methods of communication that suit them best. Usage of social media – the platform is the current communication methods for many businesses and individuals. Facebook, Instagram, Blogging and Twitter are fundamentally important tools for effective stakeholder management. Therefore, the social media should be used to informing your stakeholders about your business performances. Company image – how the situation has affected the company’s public image IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 8 The company’s image has been considerably positive. Establishing of positive image is fundamental to creating good relationship with your clients. In other words, the impression the client’s form of your business is dependent on ranges of factors – personal interactions, branding, reputation and web presence. Evaluation of your image – feedback from customers and staff are invaluable for the company image. It is important to receive considerable number of opinions mostly from target audiences. It is advisable that when you are collecting feedbacks from relevant sources, to consider summarizing your conclusions (Zimmerer, 2015). Message clarification – it is important to consider focusing on a concise and clear message when communicating the image of your business to the relevant target audience. For instance, picking a slogan that better communicate the ethos of the business across your audiences is advisable for fostering effectiveness. Response – potential courses of action to respond to the situation in the current macroeconomic and business environment It is important to understand the cause and effect of the business environment changes. It is important to note that changes are implemented in business environments for various reasons: ensure better business performance, placing the organization in a competitive edge, ways to ensure that employees work effectively. The company should accept and undergo changes in order to enhance and encourage successfulness. For instance, the organization should consider upgrading services and products, train its employees, improve technologies to enhance consistency business performance. this can be enhanced by changing the manner of work IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 9 performance, increasing or reducing the number of hours, increase of the number of performing business per week, reduction of staff, changing expectation from customers, refurbishment of systems, and seasonal trade of new system (Aguilar, 2017). Such changes are may be temporary but should be encouraged. In addition, restructuring of departments, teams or whole organization is highly recommendable. It is also important to change the way employees work in order to suiting their business needs and to improving performance within the organization and team. Below are the reasons that can greatly changes that occur in business: a) Increase of market pressure b) Recession c) Advancement of technology d) Recession e) Budget reduction f) Improvement of customer service g) Improved business efficiency h) Changes in government regulations and legislations i) Increase in market competition j) Globalization k) Profit reduction l) Losses of business finances m) Decreases in business performances n) Changes done on organization or departmental structuring Impact – how the course of action impact the business IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 10 The course of actions will greatly help to balance both the long-term and short-term goals and hence ensure sustainable and consistent performance (Aguilar, 2017). In addition, the short-term measures will be effective to ensure that the employees are always focused on the specific objectives. Further, the short-term goals will be paramount to meeting the organizational business needs. Long-term outlook- the long-term goals and objectives when incorporated into policymaking and planning process will help to focus on instilling a positive company culture and in protection of its brand. External resources – evaluation of the roles and functions of external resources The external factors may have positive or negative impacts on business; for instance, in poorly performing economy, a well-managed business many not be able to survive. If customers end up losing their jobs take new jobs that do not support their financial needs, they will likely spend less on recreation, sports, gifts, new cars and luxury goods. In addition, higher interest rate on credit cards can put off customers from buying (Aguilar, 2017). Competition is also another factor that may negatively impact business. It is important to ensure that the business is well placed in market in order to remain relevant. IMPACT OF GOVERNMENTAL ACTION ON A BUSINESS PAPER 11 References Noe, R., Hollenbeck, J., Gerhart, B., & Wright, P. (2016). Human Resources Management: Gaining a Competitive Advantage, Tenth Global Edition. McGraw-Hill Education. Jauch, L. R., & Glueck, W. F. (2013). Business policy and strategic management. McGraw-Hill. Zimmerer, T. W., & Scarboroug, N. M. (2015). Essentials of entrepreneurship and small business management. Prentice-Hall. Aguilar, F. J. (2017). Scanning the business environment. Macmillan. Pine, B. J., & Davis, S. (2013). Mass customization: the new frontier in business competition. Running head: MILESTONE TWO 1 OVERVIEW PENGCHENG HU MBA 665 10/28 2018 MILESTONE TWO 2 Overview: Business profile LG Corporation is among the leading companies in technology innovation in consumer electronics, home appliances and mobile communications. It is a multinational company in the whole world which introduces new technology to the digital world from one decade to the other. Its main goal is set on a long term basis and the company strives to reaching the goal and satisfying its customers. It operates under a structure that is governed comprising of professional administrators and Board of Directors. There is increased corporate and shareholder values in the company because of to the structure that helps in providing transparency and creating management activities. Market shares is the percentage that a given company or industry attains from its total sales over a particular period of time. It is calculated by having the company’s sales over the given period divided by the total sales of the company at that period. The business market share of our company in 2018 first quarter was 3.2 percent which represented the highest first-quarter in history of the company and the highest profit since 2009 second quarter. The company’s business to business operations generated an increase in the profit while mobile communication and vehicle components reduced in the quarter. Like any other company in the globe, our company has competitors from within and outside our country. Our main LG Electronics competitors include; Sony, Samsung, Panasonic, Toshiba and whirlpool. Our company faces different opportunities and threats in the market. The opportunities include; conversion of improved brand images and awareness into market share which helps the company in increasing its market shares, increasing the wide product portfolio that is already in MILESTONE TWO 3 existence and increasing growth of home appliances such as fridges and electronic goods in the emerging economies. It also faces threats despite it having good opportunities in the market. They include; price war with close companies that are competing in the market such as Samsung that disrupt the growth in pricing sensitive markets, we encounter high competitive industry dynamics, urban demand which can be stagnant and false green demands that erode our brand value and consumer trust is be affected. As a company we have our own strengths. These include; expansion of market to different localizations outside our country, our brand features and good value for money is appealing to the customers which increases the sales of our company, provision of good sale services to our customers hence attracting more customers, we provide sponsorship to activities such as sports and entertainment and this helps in enhancing visibility of our company by many people and we offer a wide range of goods or products in the market for our customers. Despite having several strengths as a company. We also have weaknesses. They include: the brand that we offer to our customers lack influence in the social media network and it also has limited market share unlike market leaders. Overview: Government Actions There are a number of political interactions that have been interacted in the business of our company and have operated in both political and legal factors. These factors have caused a decrease directly or indirectly in the product cost hence reducing the profit of the company. Politics has grown in the 21st century hence having a great impact on many businesses in the MILESTONE TWO 4 globe. Government and political regulations that have been provided possess a great challenge and effect on the business and profitability. There is a direct relationship between the political environment of a nation and the economic environment and this affects businesses by influencing the consumer confidence on the products. Political disruption of a country disrupts the supply chain of the products and operations of the company in the market hence leading to reduction of profit in the company for that particular period of time when the disruption occurred. Since our company is an international company that operates in all parts of the globe, geopolitical challenges and threats of terrorism attacks can also pose a big challenge to the company. This reduces the supplies of our products to the countries that are prone to the attacks hence reducing our market which leads to a decrease of our sales in the long run. International businesses can be affected by political relationships and trade pacts between different countries since they have a major influence on businesses. Countries that do not have trade agreement and friendly relations with the country that we are situated in can have a challenge when it comes to selling our products to such countries since they can be against the introduction of the product into their countries. In this way, political factors play an important role to a company’s growth and profitability. There are some potential government actions that we will face in our decision to construct a new corporate headquarters on the Hudson River in the New Jersey in the face of environmental concerns. One of the actions is that the government will stop the construction of headquarter because it is next to a water body which can be a threat to the aquatic environment. As accompany we will required to have the corporate environment initiatives. These are actions MILESTONE TWO 5 that a firm should take with the goal of reducing the negative impacts and increasing positive environmental impacts in the area where the business is going to be situated. The positive impacts include; use of clean energy such as hydroelectric power, waste reduction, recycling which helps in reducing the amount of waste that is generated from the company, pollution prevention, environmental management systems and greener products and services which will not have an impact on the ecosystem. The company’s input such as raw materials and fuels, throughputs such as waste and transportation and its outputs such as products are included in the initiative. This action by the government will help the company to address all environmental concerns such as pollution which would have occurred during disposal of waste which would have an effect in the aquatic ecosystem since the construction is based near a water body that is Hudson River. Air pollution will reduce due to use of cleaner energy that does not pose a lot of gases into the environment. Overview: Organization and team Organization in the company lands into four divisions. The four major divisions are used to classify productivity in the company. These include; Home entertainment division, mobile communication division, home appliances division, air solutions and vehicle components division. The home entertainment includes televisions which are into different categories such as flat screens. Mobile communication includes the mobile phones which also come in several brands such as android brand. MILESTONE TWO 6 Our company operates under a government that is constituted by the Board of directors. The board of directors is formed by smaller bodies involving; the audit committee, Recommendation committee and management committee. The management committee is responsible for implementing decisions made by the Board of directors. The recommendation committee is comprised of the outside director and non-executive director. Finally the audit committee is composed of other outside directors whose work is to do auditing on financial reports and accounting records. This structure helps them in ensuring accountability and transparency. The evaluation by the management and executives of the LG company is usually held annually to check on their work and if they have met their set goals and objectives. Compensation is done according to the results of the evaluation to keep the spirit of working among the members. The distribution sector has also partnered with several wholesalers all over the world. The company has also our own sales men who ensure their products do not fall short in the market. Overview: Stakeholders The creation of stakeholders started from identification of specific people and isolating them. Then they formed a stakeholder’s framework to use in ensuring the success of the company. We divided the stakeholders in some categories as; public stakeholders, policy makers and governments, Research community stakeholders, civil society stakeholders and professionals. MILESTONE TWO 7 Public stakeholders help in collection of opinions from the public as policy makers ensured there are policies and procedures are followed in the company activities. The research community helps in collection of the customers’ feedback as professionals are involved in innovations on the products. It was decided that the company should deal with all home appliances and communication to ensure that we gain the market. They included washing machines, kitchen appliances, vacuum cleaners and mobile phones. The company later developed a stakeholder’s consultation to create an opportunity for the purpose of checking on the company's performance. This is held twice in a year where discussions are made on every category falling in the company specialization areas. The external stakeholders such as international organizations, academia and the government are welcomed for their contributing opinions. The results of the discussion are the recorded and reviewed by the attending team and then made public later. The communication is done through the company website. The expansion of the scope of stakeholder’s discussion is a process that is ongoing having been hosted in the United States of America and China. This will enhance united goals globally as our team deems it by reaching out to many customers as possible. Overview: Current environment Our company is a giant company that controls 128 subsidiaries all over the world and has around 82000 executives with 222000 employees. It is an electronic company with high level of MILESTONE TWO 8 organization for the market success. What makes us to take over a large portion of the market is because it is known by many to have simple designs of devices which are not complex in operating. Due to this, most people find it easy to trust and believe in our company in the technology field. Due to the trust we gain on our products, we has gained high demand in the products. This has caused us to ensure our products are easily available in all parts of the world and in several brands and colors (Galbreath, 2017). Distribution is done by our own distribution partners and other wholesalers including authorized retail dealers. We have recently used the strategy of "be global" to ensure that we promotes ourproducts further over the world. The Company has been involved in several sponsorship programs such as sports; cricket world cup, soccer matches among others. It has also diversified products into brands in several fields such as home appliances, kitchen appliances, communication and entertainment. This is to ensure that we satisfy our customers and exploit the trust we own from customers. The company has always been mentioned in community works and development such as in involving people in general wealth creation techniques. The long existence of our company in the market has made it easy for us to survive in the harsh and competitive environment of business. To ensure affordability, the company has ensured that our products are in form of the high end ones and the low end ones. This is to mean the most expensive to the cheapest product but all of the same function. An example is with our mobile phones. We have mobile phones with best affordable prices and specialized ones with higher prices relatively but all are used for communication. MILESTONE TWO 9 The company has a huge competitive market in the globe thought we constantly develop in our innovation in secondary products, home appliances, and electronic equipment. We have made several trade pacts and friendly agreements with other countries hence expanding our market which increases our chances in increasing in profitability. The company has highly contributed to the world stock market and money market because of selling products in different countries all over the world. We are ranked as one of the leading companies in the electronic job market with a lot of economic and technology resources. The company is having a continuous increase in sales in the last decade and has set a good economic status for most companies. The company introduces products that satisfy the needs of our customers and ensure that the environment is catered for by producing products that are environmentally friendly. We have adopted the use of renewable energy and reduced emission of gases from our industries and products so as to produce a green environment that is free from pollution. We use a corporate-wide low carbon green management strategy whose goal is to ensure value of the clients by willingly reducing the greenhouse gas emissions. The Low-Carbon Green Management Strategy involves some four different areas which are: the reducing of greenhouse gas emissions in the production level, improving of the quality of energy in the application stage, extended minimizing of greenhouse gas and development of a management body in each one of the businesses, and archiving of more social obligations by ensuring the promotion of lowcarbon culture. The always plays a forward role in ensuring to avoid climate change through the strategy of reduction of greenhouse gas emissions. This will help reduce gases committed from MILESTONE TWO 10 machineries during and after using them. Through our employees and consumers will work with our products freely. The company is also in the process of expanding services to ensuring usage of solar systems as a source of energy to avoid energy sources that cause harm to the climate and people in the world. In other terms it reduces the environmental impacts of other energy sources. A large portion of income comes from the home appliances such as the televisions and Fridges. They cover up to around 40% of the financial profits made. The improvement came due to the initial decision of stakeholders to produce devices of all brands ensuring to cover for every population and each sector. MILESTONE TWO 11 Reference Galbreath J. (2017), Business Strategy and the Environment-Wiley Online Library. http//www.lgnewsroom.com MBA 665 Final Project Guidelines and Rubric Overview The final project for this course is the creation of an impact of governmental action on a business paper. Governments at all levels—federal, state, and municipal—exert a significant influence on business. The impacts of these influences may be negative, such as the imposition of costly regulations, or they may be positive, such as the provision of financial incentives for the creation of new jobs. Both negative and positive governmental actions present challenges for businesses: the impact of the action on the business’s “bottom line,” how public opinion will be influenced by the business’s response to a particular action, and the ethical issues associated with each response, for example. For this assessment, you will select a business that has faced, or is facing, governmental action and analyze the impact of this action on the business. In this company, your role is vice president of governmental affairs. Ideally, the business that you select will be the same one discussed in the business plan you created for MBA 560: Marketing and Strategy. If that company does not yet exist, you should choose one in the same area of focus that is facing a governmental action, regulatory issue, or political challenge, with instructor consultation and approval. This is important because the analysis you complete now should help inform your knowledge of potential situations or challenges facing your business product, service, or other idea from your business plan. Note: If you have not yet completed a business plan in the MBA 560: Marketing and Strategy course, you will select a company of your choice. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, and Six. The final project will be submitted in Module Nine. In this assignment, you will demonstrate your mastery of the following course outcomes:      Analyze potential political challenges for determining possible impacts on business environments and sustainable operations Evaluate the roles and functions of business project teams for addressing government incentives or potential business-negative government regulations Recommend communication approaches designed to be presented to the public for mitigating possible situations that would negatively affect company image Determine effective solutions for addressing multi-faceted business challenges in macroeconomic and global environments Recommend external resources and approaches in effectively advocating for businesses by evaluating the roles and functions of lobbyists and public affairs specialists in the political process Prompt Your macroeconomic evaluation should answer the following prompt: Select a business that has faced, or is facing, governmental action, and analyze the impact of this action on the business. Ideally, the business that you select will be the same one discussed in the business plan you created for MBA 560: Marketing and Strategy. If that company does not yet exist, you should choose one in the same area of focus that is facing a governmental action, regulatory issue, or political challenge, with instructor consultation and approval. This is important because the analysis you complete now should help inform your knowledge of potential situations or challenges facing your business product, service, or other idea from your business plan. While your area of focus may be different from the possible topics and situations listed here, these should still give you an idea of the type of situation for which to look. Topic examples:      The decision of LG Corporation to construct a new corporate headquarters on the Hudson River in New Jersey, in the face of environmental concerns The decision of Tesla Motors, Inc. to choose among competing incentive packages from local governments for the construction of the company’s new Gigafactory The threat of Amazon.com to move its drone research development activities out of the United States unless the Federal Aviation Administration adopts a more favorable regulatory stance The federal Occupational Safety and Health Administration’s decision to issue numerous citations to Ashley Furniture McDonald’s Corporation and the decision by Seattle, Washington to increase the minimum wage in that city Specifically, the following critical elements must be addressed: I. Overview: In your role as vice president of governmental affairs, your boss, the business’s CEO, is considering retaining an outside consulting firm to assist the company with a government issue that it is facing. Jack Harris is the president of that firm, which is called Crisis Consulting. Jack has told your boss that he will not know if he can help until he learns more information about your company and the issue it faces. Your CEO has asked you to prepare a memo that will provide a detailed overview of your company as well as the government action that is it facing. Address the following: A. Business Profile: Provide a brief profile of the business and the industry it occupies, including the business’s market share and competitors, as well as opportunities and threats facing the business and industry outside of the particular governmental action now facing the business. B. Governmental Action: Analyze the potential governmental action or political challenge that will affect the business in this particular situation. [MBA-665-01] C. Organization and Teams: Describe the organization of the company, including divisions and project teams, and the manner in which the company has used these teams to respond to government regulations in the past. [MBA-665-02] D. Stakeholders: Describe the company’s internal and external stakeholders. In your description, include the actions taken by the stakeholders to date to influence the political process and advocate for the business’s interests. [MBA-665-05] E. Current Environment: Describe the current business environment, both financial and otherwise, including the initial reaction of the company to the situation and the initial position taken by political actors and other stakeholders. [MBA-665-01] II. Analysis: After submitting your overview, your boss is having second thoughts about bringing Jack Harris and his firm, Crisis Consulting, on board. Before he makes his final decision he has asked you to provide him with a thorough analysis of the situation faced by your business. He asks you to prepare a memorandum to him (the CEO) analyzing the situation that your business faces as well as the resources that are available to it. Address the following: A. Business Environment: Based on your analysis of the governmental action or political challenge, what will be the impact of the governmental action or political challenge on the business’s financial situation and operations? Does the action represent an opportunity or a threat? [MBA665-01] B. Sustainability: Based on your analysis of the governmental action or political challenge, how will the governmental action or political challenge impact the sustainability of the business? [MBA-665-01] C. Internal Resources: Evaluate the internal resources of the company, including the business project teams that are available to respond to the opportunity or threat. In other words, is the business adequately organized to address the opportunity or threat? [MBA-665-02] D. Communication: How has information about the situation been communicated to various stakeholders? For example, have any public hearings been held? Have the radio, newspapers, and/or social media been used? [MBA-665-03] E. Company Image: Assess how the situation has affected the company’s public image. Has the impact been primarily positive or negative? If the impact has been primarily negative, what are the positive aspects in addition to the negative aspects? If the impact has been primarily positive, what are the negative aspects in addition to the positive aspects? [MBA-665-03] F. Response: What are the potential courses of action to respond to the situation in the current macroeconomic and business environment? In other words, what is the range of options for the business in this situation? [MBA-665-04] G. Impact: How will these courses of action impact the business? Make sure to consider both short- and long-term impacts, including operational, financial, and ethical implications. [MBA-665-04] H. External Resources: Evaluate the roles and functions of third parties or external resources in the situation. Consider questions such as these in your response: How will lobbyists be involved in the situation? Will there be public affairs professionals who will argue on behalf of the government or the business? [MBA-665-05] III. Recommendations: After submitting your analysis memorandum, your CEO has decided that your business needs the additional resources that Jack Harris and his firm Crisis Consulting can provide. Time is of the essence, and so Jack has called a meeting of the team that will work on this project next week. While Jack is familiar with your business, due to your overview, the rest of his team is not. Your CEO has asked you to provide a memorandum to Jack that he can distribute to his team that will be assisting your business. Do not assume that the team knows anything about your business or the government action it faces. In addition, the CEO has asked you to include your recommendations for addressing the situation the business is facing. A. Business Project Teams: Based on your evaluation of the internal resources that are available to the company, how can business project teams be efficiently engaged to obtain the most favorable results for the company? [MBA-665-02] B. Communication: Based on your assessment of the business’s public image, recommend communication approaches or strategies designed to mitigate the impact of negative information about the business. [MBA-665-03] C. Solution: Based on the courses of action and their impacts that you previously described, determine an effective solution for the business in the situation it is facing. How does the solution address the governmental action(s) or political challenge(s) faced by the business? [MBA-665-04] D. Political Influence: Based on your evaluation of external resources, how should the company utilize outside resources and approaches to advocate for the business and influence the political process? [MBA-665-05] Milestones Milestone One: Topic Selection In Module Two, you will submit a topic selection short paper. Key to your success is providing the background to thoroughly address each of the critical elements. The business topic will be the same one that you created in your MBA 560: Marketing and Strategy course. If the idea has not yet faced some significant government impact, you will need to identify one or more government impacts that the business idea would be likely to face. See examples in the prompt. Note: If you have not yet completed a business plan in the Marketing and Strategy course, you should choose an existing business as the subject. Your short paper should identify and briefly describe the business that you propose to study and describe the government impact that it has faced or would be likely to confront. Make your case for why the business and government impact you select are appropriate subjects for the final project. If your instructor believes that your choice will not provide sufficient material for you to achieve success with the final project, you may have to select a different business and/or government impact. The topic selection short paper should be 2–3 double-spaced pages. This milestone is graded with the Milestone One Rubric. Milestone Two: Overview In Module Four, you will submit the Overview section of your final project, which continues building on what you started in Milestone One to complete Section I of the final project critical elements. You will provide the business profile and governmental action, revised according to feedback received on Milestone One, then add organization and teams, stakeholders, and current environment. Be sure to support all factual claims/positions with appropriate citations to your research materials. This overview should be 8-10 double-spaced pages. This milestone is graded with the Milestone Two Rubric. Milestone Three: Analysis In Module Six, you will submit the Analysis section of your final project, which is Section II of the final project critical elements. Your analysis should include answers to all the questions in the Analysis section on business environment, sustainability, internal resources, communication, company image, response, impact, and external resources. The analysis should be 8-10 double-spaced pages. This milestone is graded with the Milestone Three Rubric. Final Submission: Impact of Governmental Action on a Business Paper In Module Nine, you will submit your comprehensive final project. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. Make sure to include the overview, analysis, and recommendations sections in your final submission. The recommendation questions are listed in Section III of the final project critical elements and include the business project teams, communications, solution, and political influence. Make sure to support all factual claims/positions with appropriate citations to your research materials. Your final paper should be 15-20 double-spaced, pages. This milestone will be graded using the Final Project Rubric (below). Deliverables Milestone Deliverable Module Due Grading One Topic Selection Two Graded separately; Milestone One Rubric Two Overview Four Graded separately; Milestone Two Rubric Three Analysis Six Graded separately; Milestone Three Rubric Nine Graded separately; Final Project Rubric (below) Final Submission: Impact of Governmental Action on a Business Paper Final Project Rubric Guidelines for Submission: Your macroeconomic evaluation should adhere to the following formatting requirements: 15–20 pages (not including title and reference pages), double-spaced, using 12-point Times New Roman font, and one-inch margins. You should use current APA style guidelines for your citations and reference list. Critical Elements Exemplary (100%) Overview: Business Meets “Proficient” criteria and Profile response expertly balances necessary detail with brevity Overview: Governmental Action Overview: Organization and Teams Overview: Stakeholders Overview: Current Environment Needs Improvement (70%) Profiles selected business and industry it occupies, including market share, competitors, opportunities, and threats, but response is wordy or vague Analyzes potential governmental action or political challenge that will affect business, but with gaps in accuracy or detail Not Evident (0%) Does not profile selected business and industry it occupies Value 4 Does not analyze potential governmental action or political challenge that will affect business 4.65 Describes the organization of the company, including divisions and project teams, and the manner in which the company has used teams to respond to past government regulations, but description is cursory or inaccurate Meets “Proficient” criteria and Comprehensively describes Describes company’s internal and description demonstrates company’s internal and external external stakeholders, including nuanced understanding of role of stakeholders, including actions actions taken by stakeholders to stakeholders in the process of taken by stakeholders to influence influence political process and advocating for businesses and political process and advocate for advocate for business interests, their interests business interests but description is cursory or inaccurate Meets “Proficient” criteria and Comprehensively describes Describes current business description demonstrates current business environment, environment, including financial nuanced understanding of current including financial status, initial status, initial reaction of company business environment reaction of company to situation, to situation, and initial position and initial position taken by taken by stakeholders, but stakeholders description is cursory or inaccurate Does not describe the organization of the company and the manner in which the company has used teams to respond to past government regulations 6.2 Does not describe company’s internal and external stakeholders 6.2 Does not describe current business environment 4.65 Meets “Proficient” criteria and analysis demonstrates keen insight into governmental actions, regulatory issues, or political challenges that can impact businesses Meets “Proficient” criteria and description demonstrates nuanced understanding of use of business project teams for addressing government incentives and regulations Proficient (90%) Briefly profiles selected business and industry it occupies, including market share, competitors, opportunities, and threats Accurately analyzes potential governmental action or political challenge that will affect business Comprehensively describes the organization of the company, including divisions and project teams, and the manner in which the company has used teams to respond to past government regulations Analysis: Business Environment Meets “Proficient” criteria and response demonstrates keen insight into relationship between governmental action and business environment Accurately determines impact of governmental action or political challenge on business finances and operations, based on analysis of action or challenge Determines impact of governmental action or political challenge on business finances and operations, but response lacks detail or accuracy or is not based on analysis Analysis: Meets “Proficient” criteria and Accurately determines impact of Determines impact of Sustainability response demonstrates keen governmental action or political governmental action or political insight into relationship between challenge on sustainability of challenge on sustainability of governmental action and business business, but response lacks detail sustainable operations or accuracy or is not based on analysis Analysis: Internal Meets “Proficient” criteria and Comprehensively evaluates Evaluates internal resources of Resources evaluation demonstrates nuanced internal resources of company, company, including business understanding of roles and including business project teams project teams available to respond functions of business project available to respond to to opportunity or threat, but teams opportunity or threat evaluation is cursory or inaccurate Analysis: Meets “Proficient” criteria and Accurately assesses how Assesses how information about Communication response demonstrates keen information about situation has situation has been communicated insight into communication been communicated to to stakeholders, but with gaps in approaches stakeholders accuracy or detail Analysis: Company Meets “Proficient” criteria and Accurately assesses how situation Assesses how situation has Image response demonstrates keen has affected company’s public affected company’s public image, insight into relationship between image but with gaps in accuracy or detail situation and company image Analysis: Response Meets “Proficient” criteria and Determines appropriate potential Determines potential courses of response demonstrates nuanced courses of action for responding action for responding to situation understanding of relationship to situation in current in current macroeconomic and between situation and potential macroeconomic and business business environment, but not all solutions environment courses of action are appropriate or response has gaps in accuracy or detail Analysis: Impact Meets “Proficient” criteria and Accurately determines impact of Determines impact of courses of response demonstrates nuanced courses of action on business, action on business, considering understanding of relationship considering short- and long-term short- and long-term operational, between business environment operational, financial, and ethical financial, and ethical impacts, but and potential solutions impacts with gaps in accuracy or detail Does not determine impact of governmental action or political challenge on business finances and operations 4.65 Does not determine impact of governmental action or political challenge on sustainability of business 4.65 Does not evaluate internal resources of company 6.2 Does not assess how information about situation has been communicated to stakeholders 6.2 Does not assess how situation has affected company’s public image 6.2 Does not determine potential courses of action for responding to situation in current macroeconomic and business environment 6.2 Does not determine impact of courses of action on business 6.2 Analysis: External Resources Meets “Proficient” criteria and evaluation demonstrates nuanced understanding of roles and functions of external resources in process of advocating for businesses and their interests Recommendations: Meets “Proficient” criteria and Business Project response demonstrates nuanced Teams understanding of use of business project teams for addressing government incentives and regulations Recommendations: Meets “Proficient” criteria and Communication response demonstrates keen insight into use of communication approaches to mitigate situations that could negatively impact company image Recommendations: Meets “Proficient” criteria and Solution response demonstrates keen insight into determining effective solution for addressing business challenges Recommendations: Meets “Proficient” criteria and Political Influence recommendations demonstrate nuanced understanding of use of external resources and approaches in process of advocating for businesses and their interests Articulation of Submission is free of errors Response related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format Comprehensively evaluates roles and functions of third parties or external resources in situation Evaluates roles and functions of Does not evaluate roles and third parties or external resources functions of third parties or in situation, but evaluation is external resources in situation cursory or inaccurate 6.2 Clearly explains how business project teams can be efficiently engaged to obtain most favorable results for company, based on evaluation of available internal resources Recommends appropriate communication approaches or strategies designed to mitigate impact of negative information about business, based on assessment of business’s public image Determines effective solution for business in current situation, based on previously described courses of action and impacts Explains how business project teams can be efficiently engaged to obtain most favorable results for company, but response is not based on evaluation or lacks clarity or detail Recommends communication approaches or strategies, but approaches are not appropriate for mitigating impact of negative information about business or are not based on assessment of business’s public image Determines solution for business in current situation, but solution is not effective or is not based on courses of action and impact Does not explain how business project teams can be efficiently engaged to obtain most favorable results for company 6.2 Does not recommend communication approaches or strategies 6.2 Does not determine solution for business in current situation 6.2 Recommends appropriate utilization of outside resources and approaches to advocate for business and influence political process, based on evaluation of external resources Recommends utilization of outside resources and approaches to advocate for business and influence political process, but recommendations have gaps in appropriateness or are not based on evaluation of sources Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not recommend utilization of outside resources and approaches to advocate for business and influence political process 6.2 Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Total 3 100%
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