imited social interactions. The analysis will also enable the business to plan its resources to avoid financial issues that have been seen to be an issue limiting their operations that include space leasing. With the employment of the discussed strategy Beyond Q will exist to operate in the next decades to come.
The business needs to come up with a risk management plan that well fits its scale of business.
A risk management plan
Risk management entails recognizing the most effective alternative tools for dealing with any future uncertainty. This should be integrated with strategic planning. The supervision of operating risks is easily described as risk management. Risk acknowledgment, reduction, or avoidance is the outcome of a continuous, cyclical mechanism that involves risk evaluation, risk decision management, risk management implementation, and risk analysis. An organization must monitor changes in business processes and how they impact business continuity with each business process as they adapt and grow. Changes should be reported and tracked through the risk management process and evaluation phase (Farr and Bailey, 2019).
Other recommendations
The business may also find the following recommendations effective:
The business should also deploy the use of a balanced scorecard to set out objectives after the swot analysis. The Sustainability Balanced Scorecard is extensively accepted as a useful pronouncement-making tool in the field of sustainability management (Chacker et al., 2017) To meet the global sustainability demands that lie ahead, businesses must have credible information systems and sound decision-making processes in place.
The business should employ the use of social networking to provide utilities to customers amid the pandemic. This involves the delivery of books and reading materials and delivery of their café products to customers. This will enable the business to operate to a certain scale amid the pandemic restrictions.
The business should re-organize its resources with a new projection using the developed strategic critical path.
Chaker, F., Manouar, A. E., & Idrissi, M. A. J. (2017). The Dynamic Adaptive Sustainability Balanced Scorecard: A new framework for a sustainability-driven strategy. International Journal of Applied Engineering Research, 12(16), 6182-6191.
Farr, M., & Bailey, D. (2019). Uniting business continuity management and operational risk management. Journal of business continuity & emergency planning, 12(4), 294-300.
Gürel, E., & Tat, M. (2017). SWOT analysis: a theoretical review. Journal of International Social Research, 10(51).
Helms, M. M., & Nixon, J. (2010). Exploring SWOT analysis–where are we now? A review of academic research from the last decade. Journal of strategy and management.
Malhotra, A., Majchrzak, A., Kesebi, L., & Looram, S. (2017). Developing innovative solutions through internal crowdsourcing. MIT Sloan management review, 58(4), 73.
Rofiq, A., & Pramono, S. (2019). The role of strategic planning and flexibility in shaping SMEs market orientation in turbulence business environment