Strategic management assignment on the issues observed in the retail industry after the covid-19 pandemic

Question

Task: What were the impacts of coronavirus on the retail businesses during the time of the global pandemicWhat strategic management approaches do companies adopt effectively for enhancing the online services and the payments in the retail business Discuss in detail in your strategic management assignment.

Answer

Introduction
The strategic management assignmentdiscusses the strategic problems due to the outbreak of the coronavirus pandemic, which provide a negative impact on businesses around the world. The strategic management assignmentwill discuss the solution for the proper implication of the digital solution in the retail stores and the users.

Problem Statement of the strategic management assignment
The strategic management assignmenthas discussed the strategic management-related issues, which are faced by retail businesses. Due to the outbreak of the coronavirus, governments across the Globe have to forcefully impose a lockdown, which causes huge losses of the creating revenue. On the other hand, all the services from the companies are gifted towards from offline to online services. The demand for online services becomes high for consumers; it has been found that there are many companies changed their strategic management for contactless online money transactions because the online delivery of products has been more prevalent. The strategic management issues have been figured out based on the changes in keeping the expectation of the consumers. There are also some challenges and issues which have been faced by the retailer's companies managing the supply chain management along with contactless digital payments.

Conceptual/Theoretical Framework & Diagram
“System Management Theory” asserts the business model along with the multiple models. This helps to implicate harmony in the larger system for executing the function optimally. The organisation's success according to the strategic objectives mainly depends on the synergy, interdependence as well as interrelations between subsystems. According to this strategic management assignmenttheory customers and the employees of the company are the most important components of the workgroup as well as in the business unit which are all crucial elements of a business. On the other hand, during the time of pandemics, the system management theory evaluates the patterns of managing the online payment methods through the best management approaches. As per the system management theory in thestrategic management assignment, the main responsibility of the manager of the company is to evaluate the events and create a better approach to develop the supply chain management along with the online payment methods. Similarly, this theory helps the management of the organisation to execute a proper plan and allocate the resource to complete the needs of the customers.

Figure 1: Conceptual frameworks
(Source: Created by Author)

Determine the paradigm of the research
Paradigm regarding the research helps to the assumption of the common foundation of expected ideas. This helps to evaluate the philosophical basis of the research projects. There are three sections under research paradigms: Philosophy, Approaches and Design. The strategic management assignmentresearch is based on the strategic problems based on the outbreak of the coronavirus pandemics, which gives a negative impact on the retail business and also the adoption of the new online payment methods.

Table 1: Research Paradigm
(Source: Created by Author)

Here in this strategic management assignmentresearch positivism philosophy helps to provide the effective patterns and trends of the current situation of the research topics. This helps to provide a better generalisable overview of the core problems of the topics. During the time of Covid-19 pandemics, the main challenges have arisen in the front of the retailer's business that how they can fulfil the demand of the customer's needs. On the other hand, the increase in the demand of services online and also the cashless services, also create major challenges to maintaining strategic management. To evaluate the core concept of the challenges Deductive research approaches have been adopted in this strategic management assignment. This helps to evaluate the possibility of a causal relationship among the concepts as well as the variables. Descriptive design is also considered in the construction of the research design, which helps in the effective analysis of the non-qualified topics and the issues.

Purpose Statement of the strategic management assignment
The strategic management assignmentresearch has been started to figure out the losses of the revenue that the retailer's shops have received from the outbreak of the pandemics. The research also figures out the further alternative ways that the retailers have found to initiate the business. On the other hand, it has been seen that several retailers have accepted the changes and transformations as well as some still have been rigid and will be evaluated. The main aim of the strategic management assignmentresearch is to Evaluate the opportunity which helps to transfer the retailer's business by the implication of the change of the strategy management of the organisation.

Significance of the strategic management assignment
The strategic management assignmentresearch is to evaluate the solution regarding the research question, which has been prepared for the evaluation of the core concept of the issues regarding the retail business. On the other hand, the research will also help to build up the understanding level of the digital medium, which helps to foster the retail industries. The acceptance of innovation with the help of digitalisation is critically included in the research. Similarly, the researchers of the strategic management assignmentevaluate several areas of issues which include supply chain management, changes in strategic management along with the adaption of the digital payments process. The contribution of this research will state the reasons based on which the pannier the retail industry had after the outbreak of the coronavirus pandemics can be understood.

Research questions
What are the impacts of coronavirus have on the retail businesses during the time of the global pandemic
What strategic management approaches do companies adopt effectively for enhancing the online services and the payments in the retail business

Chosen Methods based on the rationale of the research topics
The strategic management assignmentresearch adopts the qualitative research method to evaluate the core concept of adopting digitalisation in the retail business. The research method is based on the qualitative which is based on flexible types of research. The flexibility in the research methodology helps the researcher to understand the attitude of the main topic (Hoque et al. 2020). Qualitative research mainly comes from the open-end question. As the strategic management assignmentresearch is based on the impact of the pandemics on a retail business, this method helps to collect data from the different retailers' business sources. Instead of providing questions with specific answers, qualitative methods help to provide a possible understanding of the attitude regarding the adoption of digitalisation in retail industries (Grayet al. 2020). This methodology helps to lead to a definitive explanation, which allows the retailer's business to adapt the perspective shift towards the online services. The strategic management assignmentresearch also adapts the thematic data analysis which is also a flexible type of rationale. Thematic data analysis does not require technical as well as theoretical knowledge regarding the other qualitative approaches. This helps to offer a more accessible market analysis based on the retailer's business by the losses of the coronavirus pandemic (Wanjala, 2020). On the other hand, descriptive research design can see the phenomenon in a completely natural way along with the unchanged natural environments.

Chosen designs (Qualitative) with rationale
The strategic management assignmentresearch is based on the impact of the covid-19 pandemic, in which the governments of many countries are forced to impose lockdown in several areas. Due to the imposing of the lockdown the retailers' businesses face many challenges (Rahman, 2020). The main challenges and issues which are faced by the retailers are to create better collaboration with the supply chain company. It has been seen that customers depend on online shopping and make safe contactless online payments (Rahma&Arvianti, 2020). The main objective of the strategic management assignmentresearch is to evaluate the effect of bringing the changes in the strategic management and the option of digitalisation, the research adopts the qualitative research methodology along with the descriptive research design.

The qualitative research approach authorises authenticated ideas to be evaluated from specific socioeconomic along with the proper demographics. The human experience causes two distinct types of people to see the same event in double several ways (JUNG & JEON, 2021). By using qualitative research in thisstrategic management assignment, it becomes possible to subsume the complexity of this type of information which is based on the conclusions that come from the core objectives of the research.

Chosen Design Methodwith rationale
The Phenomenology research design is a principal factor in the construction of the research. On the other hand, this also helps to understand the actual impact of the retail business during the time of the pandemics. On the other hand, this also helps to adjust the contemporary issues and ideas as they emerge during the time of the implication the digitalisation in the retail business (Akramet al. 2021). Correlation research design helps to prejudice human behaviour after the adoption of the innovative technology and strategic management in the company. This research design has the capabilities to predict the core issues of the pandemic faced by the retail business; this also supplies a better opportunity to the researchers (Kiger &Varpio, 2020).

Summary of the strategic management assignment
The strategic management assignmentresearch is concluded about the strategic problems due to the outbreak of the coronavirus pandemic, which provides a negative impact on businesses around the world. “System Management Theory” asserts the business model along with the multiple models, which is also discussed in the research. Qualitative research mainly comes from the open-end question, the main aim of the strategic management assignmentresearch is to Evaluate the opportunity which helps to transfer the retailer's business by the implication of the change of the strategy management of the organisation.

References
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