Assignment overview The purpose of this assignment is for you to consider meanings of the concept of business strategy and its role in an organisational environment that is volatile, uncertain, complex, and ambiguous (VUCA). Assignment details Consider the definition of business strategy and its meanings in developing an essay that responds to the following question: What do organisations need to consider to ensure that their strategic planning efforts help them to act effectively and responsibly in turbulent and complex environments? In addressing this question, you must consider the following points: • What is the purpose/aim of business? • What does business strategy mean as a concept? What are valid definitions? • What is the role of business strategy in achieving business success? • What does it mean for a business to act effectively and responsibly? • What are sources of uncertainty in the organisational environment? • How can an organisation effectively and responsibly engage with their stakeholders? It is recommended that you use 10 references from various academic sources and a case example to develop and support your argument. For a case example, you can choose any organisation (or multiple) that you are familiar with either through your own work experience, your own research, or through their exposure in the media. Please make sure that evidence from case examples and the academic literature is clearly referenced, or that examples from your personal work experience are clearly explained as such. MY CHOSEN CASE STUDY IS: QANTAS Qantas – took advantage of the COVID19 situation – Mr Joyce was in hot water as wanted to lay off workforce. Then during Covid airlines went down a large % departed from the organisation. Advantage – lots of people were able to be redeployed to other companies (also arranged by Qantas). Please see attached my previous assignment on Qantas which may have some ideas STRUCTURE: 1. Introduction 2. Body BODY MUST ANSWER THE FOLLOWING QUESTIONS • What is the purpose / aim of business? • What does business strategy mean as a concept? What are valid definitions? • What is the role of business strategy in achieving business success? • What does it mean for a business to act effectively and responsibly? • What are sources of uncertainty in the organisation? • How can an organisation effectively and responsibly engage with their stakeholders? THE RESPONSE MUST ADDRESS • Pros & cons of BOTH sides of argument • VUCA theory 3. Conclusion
