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Part 1: Group Presentation

Part 1: Group Presentation

You work for a large sportswear retailer that is growing rapidly. Their success is down  to the growing ‘athleisure’ trend, with more and more people wearing casual sportswear. The sportswear retailer currently employs 8,500 people across 3 different countries (the United Kingdom, Spain and Australia). The sales are split approximately 50/50 between in store and online sales. The sportswear retailer wants to invest back into the business in order to sustain the steady growth.

You will work in a team of between 3 and 5 people to prepare and deliver a 20 minute presentation. The focus of the presentation is to consider how to invest for growth. The CEO of the sportswear retailer has asked you to consider the following two possibilities for business development:

1.Expand into a new country to market and sell the existing product lines within a new marketplace. (You may wish to focus on a country of your choice).
2.Develop exclusive celebrity-endorsed lines of footwear or clothing sold only through your retail and online outlets, prompting further growth in the three existing marketplaces.

Requirement

Produce and deliver 20 minute presentations where you discuss what issues need to be considered when deciding whether to pursue either of the two possible development possibilities. Include a potential third possible investment for a company of this nature and discuss what would need to be considered when deciding whether to pursue it.
Include in your presentation what additional information you would need to make the final decision on which of the three potential options the company might implement.
Evaluate how one of these three development possibilities could be implemented and how to overcome the challenges the company might face in implementation.
This will be an in-class activity and will take place in class in week 9 of the semester (unless you are otherwise guided by your module tutor). Your team should provide the tutor with:

Identification and justification of an appropriate third development opportunity
Identification and analysis of appropriate issues to consider for the three options
Identification and justification of further information needed to make this investment decision
Discussion of implementation strategies and issues for ONE of the three development opportunities
Presentation style and structure, including contribution by all group members

Part 2: Individual Written Assignment

You will be expected to analyse and evaluate how the listed company of your choice handled a major issue. The choice of company and issue is up to you, however, it is strongly

Part 2: Individual Written Assignment

advised that you get approval from your module tutor to ensure the company and issue chosen are appropriate for this assignment.

  1. Introduction to the issue and the chosen company  – Learning Outcome 2

With reference to a listed company of your choice identify a recent major issue that they have had to deal with. Describe what the issue was and discuss how your chosen company dealt with it.

You should be justifying their choice of problem, not just describing the problem, supporting the justification using organisational data. The justification should include introductory theory on problem solving to support why you selected this decision. You should describe the approach to decision making and problem solving taken by the organisation, not just the solution reached.

  1. Critical analysis of the approach taken by the organisation  – Learning Outcome 1 -4

Critically appraise the approaches used by the organisation in trying to address this major issue. With hindsight and time suggest how the company could have responded

better. What other decision making and problem solving techniques would have been most appropriate for this decision or problem. 

  1. Stock market analysis  – Learning Outcome 1 and 3

As the company is listed on the stock market analyse how that market viewed the major issue and the company’s responses that followed. This will involve analysing the company’s share price across the period of the event.

Implementation theory to be discussed here, in context of the particular organisation and problem. You should demonstrate a clear knowledge of available implementation methods and how they relate specifically to this particular decision or problem.

Part 3: Group Presentation

In groups of between 3 and 5 (or individually if studying via distance learning – these presentations need to be video captured and submitted to the relevant person at your institution) prepare and deliver a 20 minute presentation on the following scenario:

You are the managers of a large, multinational company which manufactures and sells white goods. The company has a product range of over 10 different models of washing machines and refrigerators, total international employees of approximately 2,200, 2 large factories in Vietnam and retail outlets in Europe and Australia.

There are some investment funds available and the CEO of your company is considering the following two possibilities for company development:

1) Acquiring a new, modern production method for both factories which would potentially cut costs and reduce labour by up to 500 staff.

2) Establishing retail outlets in another continent.

The CEO has also asked his managers to identify a third option for him to consider for the company to invest in. The CEO wishes to implement only one development project at this time.

Requirement:

Produce and deliver a 20 minute presentation where you discuss what issues need to be considered when deciding whether to pursue either of the two possible development possibilities. Include a potential third possible investment for a company of this nature and discuss what would need to be considered when deciding whether to pursue it.

Include in your presentation what additional information you would need to make the final decision on which of the three potential options the company might implement.

Evaluate how one of these three development possibilities could be implemented and how to overcome the challenges the company might face in implementation.

Part 1: Group Presentation

Decision-making is key towards reaching to the right conclusions in solving the problem. The problem solving is considered as more analytical aspect of the thinking process.  It uses the intuition for gathering of the facts. However, decision-making is much more concerned with judgment in which after thinking, one takes course of actions. It includes defining of the problem, examination of all potential causes for the problem, identifying all the alternatives for resolving problem, careful selection of alternatives, development of orderly implementation of the plan for implementing the best alternatives and evaluation. The solving of problemand making of decision is linked closely, as it requires creativity in identifying and then developing the options, for which the techniques of brainstorming is particularly useful. They both belong to each other, as the person cannot solve the problem without making decision. Hence, this assignment aims for analyzing and discussing the facts regarding scandal of Pharmaniaga Berhad, which happened internally, resulting into affecting the price of stock. The discussions will include critical analysis of problems, approaches usedand analysis of reaction of the investors to the problem and solution.

PharmaniagaBerhad is the largest pharmaceutical company of Malaysia, which is having dynamic growth in the regional and local countries. As the largest group of integrated pharmaceutical in Malaysia, the company operates in line with its commitment towards excellence. The company has established strong reputation as provider of the quality products and the services within the industry of healthcare. In the year 1980, the Pharmaniaga Manufacturing Berhad has begun as the manufacturer and supplier of the quality generic medicines to the Malaysian Ministry of Health. Pharmaniaga Berhad, since 1980, has extended its operations of business into the private CP market, OTC medicines, contract manufacturing and international export markets (Pharmaniaga.com, 2019).

The big giant in the pharmaceutical industry, Pharmaniaga Berhad, has been exposed for detaining the alleged monopoly on supply of the drugs.  One of the whistleblower has revealed latest scandal that is related to supply of the billions of ringitt that was worth to medical drugs. Recently, it has been claimed about the Pharmaniaga manufacturing Berhad is the sole holder of concession, supplying the medicines to the facilities of public health. The health Ministry has denied the allegations that were made about this particular matter. The heath minister has refuted the allegations regarding monopoly of Pharmaniaga because there was existence of other vendors, who supplied directly to all the facilities of health under ministry. Just after days, when Health minister Dzukefly said to set up the task force for reviewing process of healthcare procurement, the new findings have been emerged about tender and supply monopoly issues. The document of twelve pages has sent to health minister and other parties by email. These documentshave revealed the details about alleged corrupt deals of tender and enrichment of elite, as some of the companies were linked to the politicians and they were having control of medicine supply chain. The tendering agents were linked up with the senior officials and politician (Nst.com.my, 2019).

Part 2: Individual Written Assignment

The top tendering agents includes high-ranking officials or the politicians or the relatives of the high-ranking officials or the politicians. These international companies of pharmaceuticalhave made an attempt for allegedly engaging the local tendering agents for assistingtowards retaining or obtaining business in Malaysia and refusing for dealing with supply or dealing with the other parties for the contracts of government. Hence, after the change of Government of Malaysia in May 2018, the appointment of new government has emphasized more on prevention of corruption, transparency, open tenders and others. In reference with the new policy, new government urged for review the companies, which was involved in monopolizing the government concessions. These initiatives by government has majority affected the shares price of PharmaniagaBerhadcompany. This scandal has indirectly caused stock price to fall(Thestar.com, 2019).

The approach used by the PharmaniagaBerhad is rational model. It is because this theory makes the assumption that innovation helps in proceeding along the strategic process that involves gathering, analysis, evaluation and action of information. The perspective of rational successful innovation is the result of careful planning of the superior product for the attractive market, execution of plan by the well-coordinated and competent cross-functional team, which operates with senior management blessings (Nst.com, 2019).

Pre-Crisis

PharmaniagaBerhad was performing well before it has been detected with the issues of having monopoly of concession holder on supply of drugs. In 2004, for meeting the practices of good manufacturing practices and enhancement of the capacity, company underwent renovations and facility upgradations (Brodbeck & Guillaume, 2015). They have successfully obtained the approval from the national pharmaceutical control bureau for their manufacturing facility of sterile Cephalosporin. They have also gained position for embarking on manufacturing of the Cephalosporin antibiotics and products with the commercial output targets for the third quarter of 2005. Company’s effort towards inculcating the culture of quality all through its business operations has borne fruit. The chairman of Pharmaniaga, Tan Sri Lodin said that company was confident regarding its prospects of long-term that was driven by proposed extension of concession agreement (Gardashova, 2014).

During Crisis

As the result of the misconduct, Tan Sri Che Lodin Wok Kamaruddin has stepped down as the chairperson of Pharmaniaga, after he has taken the responsibility of the wrongful act. Moreover, the chairperson has also resigned because ofearly mutual termination of his agreement of services with the Boustead Holdings Berhad as Managing director. Further, company has changed its audit committee, board of directors, nomination committee, remuneration committee and other major executives, who was held responsible for the issue. The company shares fell down on the stock market (Hesse, et al., 2015).

Part 3: Group Presentation

Post Crisis

The company has changed its structure of board by appointing new board members.In the current situation, Pharmaniaga Bhd has been identified as the monopolist and is being reviewed by government. The special task force has been set up by the government to study monopolies of certain services and business, which could have contributed towards higher cost of living. Moreover, company is now moving away from their business of traditional concession by expanding the breadth in private segment and exports in region (Nst.com.my, 2019).

The Pharmaniaga Berhad has used the approach of the rational decision making model. The rational decision making helps in leveraging the objective data, analysis and logic rather than intuition and subjectivity for helping to solve problem or achieve the goal. This step by step model, identifies the problem, picks the solution between alternatives and lastly finds the answer. The rational decision making is considered important skill to possess. The human beings are inherently emotional. Hence, beliefs and biasness can blur one’s perception of the reality (Nst.com, 2019).

In case of Pharmaniaga Berhad, the company has used the rational decision making approach for addressing the issues because once company realized that they are losing the market share and reputation, they started making strategies for taking rational decisions on issues faced by them. The very first rational decision made by the company includes shifting of the focus from concessional business to the non-concessional decision. The company wants to bring range of the new products in order to meet the demands in local private sector and widen their international reach with the help of Indonesian Operations, as company has achieved the total revenue of 32 percent to the revenue of group (Theedgemarkets.com, 2019). Further, the company has rationally planned for increasing the share of market in private sector with the help of introducing consumer healthcare and over the counter products. These decisions were taken by the company for reducing its dependency on the business of concession.  This action by the Pharmaniaga Berhadis linked with the rational theory because this theory assumes that if the organization is faced with the problem then it makes alternatives decisions according to the situation of company, evaluates the alternatives and then selects the best one(Hesse, et al., 2015).

The approach of rational decision is based on the data that is obtained scientifically, which reduces the chances of errors, informed decision-making, subjectivity, guesswork, assumptions and all the other major causes for inequitable judgments. These knowledge and information based approaches helps in promoting higher quality and consistent decisions and reduce the chances of errors (Gardashova, 2014). Further, this theory is having major drawback that the process of rational decision making requires the careful consideration and the deliberation of data, which consumes maximum time. Hence, this makes the method unsuitable for the quick decisions. Delay in making and the implementation of decision, results in the dilution of perceived benefits of the alternatives (Fiore, et al., 2017).

Investment Possibilities for a Sportswear Retailer

The decision-making theories limitation helps in improving the existing theory by introducing new theory such as various limitations of rational model has led towards introducing bounded rationality model. This theory makes the assumption that rationality of the individual must be bounded by certain level of limitations(Brodbeck & Guillaume, 2015).

The other two approaches except rational decision making are bounded rationality model and Sequential Decision Model. The bounded rationality model is the idea that the rationality is limited when the individuals’ makes decisions that is by the decision problem tractability, cognitive limitations of mind and availability of time for making the decisions. It is the theory, which was first founded by the Herbert Simon. He has challenged the rational man concept in the economic theories of classical and neoclassical and he has argued that rationality of the man is bounded by some of the limitations (Keman, 2016). The second model is sequential decision model. This model of decision making is described as the situation in which the decision makers make the successive observations of the processes before the final decision is being made. Moreover, in most of the sequential decision’s problems, the explicit or implicit cost is associated with each of the observation. The sequential decision making is having the objective for finding stopping rule, which optimizes the decisions in terms of the minimization of losses or maximizations of gains, including the costs of observation. The stopping rule is the procedure to decide that when to stop the observation and when to continue with it (Chisholm, 2017).

The best approach of the theory out of all is the theory of rational theory approach. Even though this theory includes various limitations, the strength of the theory cannot be ignored. The example of successful implementation of this theory is the case of MyEg. MyEG is the concessionaire for the Malaysian Electronic government. MYEG Services Berhad is engaged in building, operating and owns its own electronic channel for delivering the services from the various agencies of government to the businesses and citizens of Malaysia(Polk, 2014). This company was fined by the Malaysia Competition Commission for abusing their dominant position to harm the competition in downstream market, under which MyEG commerce has participated as an agent of insurance for the online renewal of PLKS applications. The company was affected adversely by change in government. It has loosed more than fifty percent of the total value of market after the election. However, the weakness in the shares price of the company is the trading opportunity (Iwai, 2014). The finalization of the process of foreign worker management is seen as potential near-term catalysts for company. The company has maintained the strong track record in the domain of foreign worker and it still holds first mover advantage (Thestar.com.my, 2018). Hence, this shows that company has used rational model of problem solving by taking the advantage of the adverse situation faced by the company and moves towards increasing the revenue and shares price(Griffiths, et al., 2015).

Handling Major Issues in a Listed Company

Analysis of Trend in Share Price during the Period

 

Figure: Movement of Shares Price of PharmaniagaBerhad

The shares price of the Pharmaniaga has continuously fell down, during the year from 2018-2019. It is because of monopolization issues. The shares pricereduced to 2.68% on June 11, 2018, after the health minister have said that it is not the single concession holder to the supply of medicine to health facilities of public. The health minister has given the statement that it is strictly unfair that Pharmaniaga acts as monopoly because there consists of other vendors also, who was supplying medicines directly to health facilities of MoH. In the concession agreement, Pharmaniaga has earned fixed percentage of the mark-up over its prices of purchase, for covering its cost of holding of inventory, distribution and the potential of inventory obsolescence (Dong, et al., 2014). The share price again falls to June 29, 2018. Further, a share of Pharmaniaga Bhd fell to its lowest ever since, June 15, 2012on April 12, 2019 because of the concerns over supplies concession with government. The stock price has been droppedto 4.3 per cent, which stretches its loss of year to date for more than thirty percent. The Pharmaniaga has seen its shares falling eight sen to RM2.15 and it was considered to be one of the biggest decliners of Bursa Malaysia (Gershman, et al., 2014). However, company has undergone various changes from changing the structures of their management to moving towards non-concession business. The company views to increase the market share with the help of this approach. Moreover, the contribution from the distribution and logisticsdivision and turnaround from their division of Indonesia has gained higher level of profit for company at its first quarter ended March 31, 2019(Wong, et al., 2019).

The analysis shows that investor has loosed their confidence on the company,which can be seen by the movements of stock prices of company. The share price of the company has decreased drastically, during the year from 2018-2018, after the company was recognized and alleged for availing the monopoly concession in order to supply medical drugs. However, even though the company has taken various steps to recover the crisis by engaging in various growth and development activities, it was not able to gain confidence from the investors. The shares price of Pharmaniaga is still quite low. This clearly states that investors are not happy with the decisions made by the company (Thestar.com, 2019).

Investment Possibilities for a Large Multinational White Goods Manufacturer

Conclusion

Therefore, this report concludes that the approach towards solving the problem and making the decision is useful for the business organizations’, as it helps in determining the best alternatives out the various alternatives. The analysis on Pharmaniaga Barmad has found that the company was alleged for beingthe sole concession holder of supply ofmedicines.This has resulted into the great loss of company’s shares and reputations, after the allegations made against the company. Moreover, the approach taken by the company, in this regard is rational model theory. It is because company wanted for reducing their dependency on concession business. In addition, the other two theories suggested are bounded rational decision model and sequential decision model. However, the best theory among all is rational model of the decision making. Further, it is analyzed that shares price of the company has reduced drastically, after the company has been alleged that it is attempting towards monopolizing the medicines supply to industry.The company, in this regard has taken various steps in order to revamp the market and gain the market share by aimingtowards heighten the presence of market in private sector and taking strategic initiatives of market.The company has put its focus towards growing their concession and their non-concession business. However, investors of the company have not gain confidence in the company, as shares price movements are on decreasing trend. Therefore, Pharmaniaga Barmad is required to take make more strategic measures, in order to regain the confidence of investors, government and market.

References

Brodbeck, F. C. & Guillaume, Y. R., 2015. Effective decision making and problem solving in projects. In Applied Psychology for Project Managers (pp. 37-52), Volume Springer, Berlin, Heidelberg.

Chisholm, R., 2017. Interorganizational decision making. s.l.:Routledge.

Dong, Y. et al., 2014. Hybrid model predictive control for sequential decision policies in adaptive behavioral interventions. In 2014 American Control Conference (pp. 4198-4203), Volume IEEE.

Fiore, S. M. et al., 2017. Processes in complex team problem-solving: parsing and defining the theoretical problem space. In Macrocognition in teams (pp. 143-163), Volume CRC Press.

Gardashova, L. A., 2014. Application of operational approaches to solving decision making problem using Z-numbers. Applied Mathematics, 5(09), p. 1323.

Gershman, S. J., Markman, A. B. & Otto, A. R., 2014. Retrospective revaluation in sequential decision making: A tale of two systems. Journal of Experimental Psychology: General, 143(1), p. 182.

Griffiths, T., Lieder, F. & Goodman, N. D., 2015. Rational use of cognitive resources: Levels of analysis between the computational and the algorithmic. Topics in cognitive science, 7(2), pp. 217-229.

Hesse, F. et al., 2015. A framework for teachable collaborative problem solving skills. In Assessment and teaching of 21st century skills (pp. 37-56), Volume Springer, Dordrecht.

Iwai, C., 2014. January. Group Decision Experiments Using Business Game –Problem Solving With Conflict. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference, Issue Vol. 36.

Keman, H. e., 2016. The politics of problem-solving in postwar democracies. s.l.:Springer.

Nst.com.my, 2019. Nst.com.my. [Online] Available at: https://www.nst.com.my/business/2018/06/384098/pharmaniaga-shares-slip-43pct [Accessed 29 Oct 2019].

Nst.com, 2019. Nst.com. [Online] Available at: https://www.nst.com.my/news/nation/2018/06/377967/health-ministry-refute-claims-pharmaniaga-monopolises-biopharmaceutical[Accessed 29 Oct 2019].

Pharmaniaga.com, 2019. Pharmaniaga.com. [Online] Available at: https://www.pharmaniaga.com/[Accessed 29 Oct 2019].

Polk, M., 2014. Achieving the promise of transdisciplinarity: a critical exploration of the relationship between transdisciplinary research and societal problem solving. Sustainability science, 9(4), pp. 439-451.

Theedgemarkets.com, 2019. Theedgemarkets.com. [Online] Available at: https://www.theedgemarkets.com/article/pharmaniaga-falls-268-after-ministry-says-its-not-sole-concession-holder-supply-meds [Accessed 29 Oct 2019].

Thestar.com.my, 2018. Thestar.com.my. [Online] Available at: https://www.thestar.com.my/business/business-news/2018/06/08/pharmaniaga-shares-fall-on-concerns-over-concession-agreement[Accessed 29 Oct 2018].

Thestar.com, 2019. Thestar.com. [Online] Available at: https://www.thestar.com.my/business/business-news/2016/06/24/myeg-fined-rm2pt7mil-for-harming-rivals-in-foreign-worker-insurance-mart[Accessed 29 Oct 2019].

Wong, A. et al., 2019. Fifthperson.com. [Online] Available at: https://fifthperson.com/myeg-services-has-crashed-over-70-since-the-malaysian-election-what-now/
[Accessed 29 Oct 2019].

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