Essay Catastrophic Impacts – Growth, Stability, and Retrenchment – Business Assignment Help

Assignment Task:

Each question is to be answered in 2000 words

Question 1

Taleb (2007) argues that black swan events are impossible to predict yet may have catastrophic impacts. In light of the on-going Covid-19 global pandemic, it is important for people to always assume a black swan event is a possibility and to plan accordingly.

Critically analyze this statement in relation to the challenges now facing Irish tourism/event organizations and discuss how the adoption of a strategic approach to management could help a Small / Medium Enterprise (SME) survive and re-establish competitive advantage

Question 2

In general terms, three orientations are possible with regard to directional strategy: growth, stability, and retrenchment (Evans, 2015).

Critically analyze this statement in the context of the alternative strategic directions available to an organization. Your answer should include industry examples with particular reference to changes resulting from the current hostile business environment.