You are to select a firm that is experiencing 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 managerial economics consultant 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 BRIEF background and history of the firm and their place in the industry/economy they operate in. Historical information is to be short. 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 great 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 you that is experiencing real distress and may not survive. 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.