Your group is to select a firm that is experiencing or emerging from significant economic, social, personal distress as a result of the fallout from COVID and the measures taken to combat it. You are writing as a member of a managerial economics consultancy (made up of you and the other class members assigned to you group) with no way of predicting the course of the virus, how long it and restrictions on business activities will last, or what the economic climate will be like in the future. Begin by providing a background and history of the firm and their place in the industry/economy they operate in. Historical information is to be brief – no more than a page. More important is their current status – but not the most important. The firm you are consulting for knows its history and is primarily interested in learning about what they can do in the present and near future – this is where the majority of your work should be. Detail the challenges they face at present and may encounter in the days ahead. Frame these challenges in the context of the real risks and uncertainties being dealt with. With the goal of helping the firm to eventually reach a fully functioning and healthy, profitable state, you are to provide recommendations for what actions they should take to deal with these successfully. This is the core of the project and where the majority of your efforts are to be directed. These actions should be practical, achievable and clearly stated – no fuzzy, feel good notions allowed. The material should be based on what you gain from sound industry/firm/economic/societal research and the application of a broad range of concepts and theories covered in this course, with more from economics and other relevant areas added at your discretion. Do not select business that are currently successful, like Google, Facebook, Home Depot etc. Find one that is of interest to your group that is experiencing real distress and may not survive. Do not use the same firm as another group from your class (you will need to check with each other). Do not use any work from previous classes or individuals (your own or others). Material in this Research Project is to be current – as in up to today if possible – with a clear focus on what can be done in the days ahead. The final product is to be a 12-15 page report in APA submitted here as a word document, with all sources referenced. One group member may submit per group, so long as all group members are listed. The 12-15 pages does not include a cover page or references and any charts, graphs, pictures etc. can be put in an appendix. This is due by the end of the last day of the residency. The format is mostly up to you, with the qualifier that it serve the interests of firms needing paths of action that enable them to survive and prosper. To that end, do not use SWOT etc. forms that are not suited to the specifics of the present and near future. The Project is due by the end of the Residency.
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