virtual risks response team based B u s i n e s s F i n a n c e
GoTech is a Saudi company (located in Riyadh) that provides technical and digital solutions to other businesses and individuals. Its operation focuses mainly on the Saudi market, but recently it opened two offices in Egypt and Italy. Eng. Abdullah is the CEO, and there are three regional managers (in 3 different countries) and 30 employees working under their supervision.
Recently, Abdullah has been required to make vital decisions to keep GoTech running during many challenges, including new and existing competitors, rapid technology development, and Coronavirus pandemic. Consider yourself the CEO’s consultant who is required to help him put together a strategy so GoTech can not only survive but also thrive in the future.
To help you develop your Consultation Strategy Report, use the following points as a guide:
1. An overview of GoTech company (0.5 marks)
2. Description of the type of management that GoTech follows. (1 mark)
3. Description of the challenges with that type of management. (1 mark)
o Communication challenges
o Cultural and political challenges
4. Description of the necessity for creating a virtual Risks Response Team based on Tuckman’s Team Life Cycle Model (see figure 1). (3 marks)
o Phases of team creation
o Criteria for choosing the team
? Who are they, and why did you choose them?
o Pros and cons of the virtual team
5. Description of the regional managers’ roles (2 marks)
o What qualities must they have as leaders?
o How can they motivate themselves and their team?
o What digital recourses can they use to manage the team?
6. Description of challenges that loom over GoTech (1 mark)
o Existing challenges/ disasters
o Potential challenges/ disasters
7. Description of GoTech resources (1 mark)
o What are the digital and financial resources?
o How can these resources be utilized?
8. Description of GoTech digital capabilities (2 marks)
o Existing capabilities that can be strengthened
o Needed capabilities that must be invested in
9. Description of the solutions (3 marks)
o Immediate solutions (based on points 4, 6, 7, & 8)
o Future solutions (based on points 5, 6,7, & 8)
10. Closing remarks/ conclusion (0.5 marks)