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report can be maximum 850 words as 300 words for the first parts and 550 for the second part mgmt_204_assignment_1_trend_analysis__2_.pdf Unformatted Attachment Preview MGMT 204: Principles of Management ASSIGNMENT 1: Trend Analysis GENERAL INFORMATION Course Outline: Available on COTROnline Course Page or at www.cotr.bc.ca/CourseOutlines Instructor: Phone: E-mail: Class Times: Office Hours: Becky Pelkonen, BPE, MSc, PBDM By appointment bpelkonen@cotr.bc.ca Online Lectures 10am-12pm Tuesdays and Wednesdays (via Microsoft Teams), or phone call by appointment ASSIGNMENT OVERVIEW The ability for a Manager to appropriately analyze the business environment, both internal and external, is critical to being able to the Planning function and anticipate situations that will impact the organization. This is outlined in your textbook Fundamentals of Management on pages 18 through 26. The goal of this Assignment is to produce a Report that could be used by a Manager of an existing Organization, or an Entrepreneur wanting to start their own business, to best understand the market in which they operate / investigating to operate and analyze why a specific Trend presents a specific Opportunity to succeed in the market. The Assignment achieves two outcomes: - Strengthens your skills related to analysis, synthesis, and looking for causes / impacts in the market in which businesses operate, and Introduces the concept of exploratory secondary research by seeking additional (i.e. nontextbook) sources to support the analysis. Students will complete this Assignment independently. DUE DATE Written Assignment will be due to be submitted on COTR Online on Monday, May 25, 2020 by 11am. SUBMISSION DETAILS All written files shall be submitted via COTR Online within the Assignment module by the Due Date. Assignments will not be accepted in a hardcopy format. 1 ASSESSMENT The Assignment is worth 5\% of the Total Mark. The Assignment will be marked out of 50 and the following is a summary of the allocation of marks within the Assignment: - Part 1: Trend Analysis - 25 marks Part 1: Research - 10 marks Part 2: Opportunity Analysis - 10 marks Structure and Presentation - 5 marks ASSIGNMENT DETAILS The ability for a Manager to appropriately analyze the business environment, both internal and external, is critical to being able to the Planning function and anticipate situations that will impact the organization. This is outlined in your textbook Fundamentals of Management on pages 18 through 26. The goal of the Assignment is to produce a Report that could be used by a Manager of an existing Organization, or an Entrepreneur wanting to start their own business, to best understand the market in which they operate / investigating to operate and analyze why a specific Trend presents a specific Opportunity to succeed in the market. The Assignment achieves two outcomes: - Strengthens your skills related to analysis, synthesis, and looking for causes / impacts in the market in which businesses operate, and Introduces the concept of exploratory secondary research by seeking additional (i.e. nontextbook) sources to support the analysis. The assignment in two parts: Part 1 is to choose one of the following trends and analyze which environmental factors are present in the trend. Part 2 is to brainstorm an opportunity that could be pursued based on this trend existing in the market. Part 1: Trend Analysis Trends are changes to the market environment that are multiple environmental factors (PESTEL) which are working in combination to disrupt the status quo in the marketplace. To understand why a trend is occurring we need to analyze the influence certain conditions of the underlying environmental factors have in creating this trend. Trends exist in the strategic planning process between the environmental scan and the opportunity / threat analysis. For Part 1, choose one of the below Trends to Analyze. Then identify and discuss a minimum of three (3) environmental factors, either Political, Economic, Social-Cultural, Technological, Environmental, and / or Legal and how they influence the Trend. The discussion should clearly outline how at least one (1) specific condition within an environmental factor is influencing the growth of the Trend. This condition must be supported by research (see below section on Research). Trends to Analyze: The below trends are leveraged from https://trendwatching.com/ which an organization that monitors and outlines the latest consumer trends for their customers. This trend report relates to cross-industry trends that relate to the COVID-19 pandemic and contain ten (10) different trends to choose from. Choose one (1) trend for this assignment. 2 10 Cross-Industry Trends that are Accelerating by the COVID-Crisis: https://info.trendwatching.com/10-trends-for-a-post-coronavirus-world 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Virtual Experience Economy Shopstreaming Virtual Companions Ambient Wellness M2P (Mentor to Protégé) A-Commerce The Burnout Open Source Solutions Assisted Development Virtual Status Symbols Finally, in the last section of Part 1, briefly (between 250 – 500 words) discuss how conditions from these three (3) environmental factors have, in combination, created the right market conditions to allow for this Trend to exist. Research For the purposes of this Assignment, the supporting Research should be conducting primarily, if not completely, utilizing secondary research. Secondary research is the analysis of primary research already completely by a third party. In other words, it is not the intent of this Assignment that students collect their own data to analyze regarding the industry / business but to use research (secondary research) that has already been conducted by an authoritative third party to further analyze in context of the industry / business being studied. The Assignment requests a minimum of two (2) sources of secondary research. For this purpose, a source is defined as a specific third party who is cited as the authoritative third party. For example, if the student was to utilize the World Economic Forum as an authoritative third party for three economic conditions, two political conditions and one technological condition in the PESTEL Analysis, this would be still considered one (1) source. This encourages the student to seek multiple sources of information to ensure the information is consistent and validated as part of their Analysis. Part 2: Opportunity Analysis Identifying Opportunities is a significant part of a Manager developing a Strategic and / or Operational Plan. Where the organization might be successful in a competitive market requires research and analysis, not simply luck or passion. Many Managers and / or Entrepreneurs will pursue what they view as an Opportunity without true understanding, which can create future challenges and failures. For Part 2, identify and discuss (between 500 – 750 words) an Opportunity that you have discovered based on your chosen Trend above. This is a creative brainstorming activity. For this part, do not constrain yourself by things like are the resources or money available to implement the Opportunity. The Analysis will be evaluated based on two (2) characteristics: insightful connection to the Trend and creativity and potential of the Opportunity. 3 Your assignment will include the following: - A well-formatted and organized Report with an Introduction, two distinct sections for each section detailed above, and a references section for the research sources cited. At least two (2) research sources from other materials that you have researched to conduct the Trend and Opportunity Analyses. Marking Rubric Below is a Marking Rubric which provides a guideline for students on the expectations of the quality of the outcome for the Assignment. Each area provides clear, consistent, and as complete as possible guidelines and the associated score with the level of outcome. The Instructor may, at their discretion, may provide a score that is between two areas if they believe it is warranted. Part 1: Trend Analysis Excellent: For each environmental factor chosen, the analysis includes at least one (1) condition that clearly connects to the selected Trend and is supported by evidence / research that has a strong correlation to the Trend. Good: Average: Not Complete: For each environmental factor chosen, the analysis includes at least one (1) condition that vaguely connects to the selected Trend and is supported by some evidence / research. For each environmental factor chosen, the analysis includes at least one (1) condition that attempts to make a connection to the selected Trend and is supported by evidence / research but there is little / no correlation to the Trend. Trend Analysis is completely missing or has such significant gaps that the Report provided is of no value to the reader. Score: 5 each factor Research Score: 4 each factor Score: 2 each factor Score: 0 Excellent: A minimum of two (2) sources of Research have been included in the Analysis, clearly referenced, categorized and obvious effort has been made to explain the relevancy of the Research to the Trend / condition being discussed. Good: A minimum of two (2) sources of Additional Supporting Research have been included in the analysis, clearly referenced and categorized. Average: Additional Supporting Research has been completed however there are less than two (2) different sources identified in the Analysis. Not Complete: No additional supporting Research has been done or the Research sources have not been clearly referenced and categorized. Score: 8 Score: 4 Score: 0 Score: 10 Part 2: Opportunity Analysis Excellent: The Opportunity developed by the student was insightful, directly correlated to the Trend discussed in the analysis above and made the clear case for Opportunity to be successful in the market environment as outlined by the factors discussed in the analysis above. Discussion is a minimum of 500 words. Score: 5 Excellent: The Opportunity developed demonstrated the student’s creativity and innovation by focusing on the potential of an Opportunity that is completely Good: The Opportunity developed by the student contained some insights, and was largely correlated to the Trend discussed in the analysis above and made a attempt for a case for Opportunity to be successful in the market environment as outlined by the factors discussed in the analysis above. Discussion is a minimum of 500 words. Score: 4 Good: The Opportunity developed demonstrates the student’s creativity and innovation by focusing on improving the Average: The Opportunity developed by the student attempted to create an insightful correlation to the Trend discussed in the analysis above but the case for Opportunity to be successful was absence or lacking. Discussion was less than 500 words. Score: 2 Average: The Opportunity developed partly demonstrated the student’s creativity and innovation by focusing on something already existing. Not Complete: Opportunity Analysis is completely missing or has such significant gaps that the Report provided is of no value to the reader. Score: 0 Not Complete: Opportunity Analysis is completely missing or has such significant gaps that the Report provided is of no value to the reader. 4 unlike something else in the market. potential of an Opportunity already existing. Score: 5 Structure & Presentation Excellent: Strong introduction, clear headings and organization of the Report, professional use of APA Referencing throughout the Report, and the language used in the report is compelling to the reader to convey the information contained within the Report. Score: 5 Score: 4 Average: An introduction is provided, there are clear headings and proper organization of the Report however the Report is difficult to read and is confusing to the reader. Score: 2 Score: 2 Score: 0 Poor: Structure of the Report is poor, difficult to read and contains little / no referencing. Score: 0 5 ... Purchase answer to see full attachment