FORMATIVE ASSESSMENT 2 [100 Marks] COVID-19 and business renewal: Lessons and insights from the global airline industry The emergence of the COVID-19 pandemic has adversely affected the fortunes of multiple companies around the globe.Accordingly, questions are increasingly being asked about how organizations can revitalize during and after a crisis. Yet, we have limited understanding of how organizations renew themselves during crises over time. We explore this question through the lens and examination of two South-Asian airlines: Pakistan International Airlines and Sri Lankan Airlines. The cases offer important insights into the reasons behind underperformance of state-controlled enterprises and renewal activities. We shed light on strategic renewal (SR) in the wake of increasing liberalization and deregulations in the global airline industry. To this end, we propose a four-stage approach towards renewing such underperforming organizations to respond effectively to black swan events and external shocks. by Joseph Amankwah-Amoah, Zaheer Khan, Ellis L.C. Osabutey https://www.sciencedirect.com/science/article/abs/pii/ S096959312100009 PLENINGER, R. & STURM, J.-E. 2020. The effects of economic globalisation and ethnic fractionalisation on redistribution. World Development, 130, 104945. Answer ALL the questions in this section.

Question 1 1.1 Critically discuss how the evolution of the pandemic has disrupted global corporations' viability. (10 marks) Evaluate government and companies' responses to minimise the impact of the COVID 19 pandemic. 1.2 (10 marks) Using examples, advise ZaWays on the main sources of poor performance in this sector, as well as critically evaluating how the pandemic aggravated each one of them.