HRM3701
Assignment 1
Semester 2 2024
Unique No: 585848
DUE 26 August 2024
, Task One
Describe the Nature of Work Done at NOVA Economics
NOVA Economics is an economic and development analysis consulting firm. It deals
with highly technical work, entailing :
• Economic Analysis: Detailed examination of economic trends, policies, and
financial systems.
• Financial Modelling: Developing models to derive forecasts of financial
outcomes and to study the impact of economic policies.
• Data Analysis: Handling and interpreting large data volumes to come up with
information insights relevant for business and policy decisions.
• Specialist Areas: Expertise in international trade, public policy and regulation,
competition economics, and climate change.
• Client Focus: Tailored advice underpinned by an in -depth understanding of
the local Southern African business and policy context, drawing on a network
of local experts and international partners as needed.
Identify Problems Encountered by NOVA Economics Since the Pandemic
Enforced a Total, Five-Days-a-Week Homeworking
• Loss of Soft Social Interaction: The informal, on -the-spot interactions of an
office were lost, which impacted team cohesion and communication.
• Decreased Energy and Excitement: The energetic and thrilling office set-up
was hard to come by at home, and there was a notable decrease in the
morale and energy level of the team.
• Brainstorming Issues: Telecommuting changed the nature of brainstorming
and problem-solving into those that are more harder when people are
physically present.
• Challenges of Informal Dialogue and Information Sharing: The ease of
informal communication and knowledge sharing that goes on organically in an
office was reduced, making it more difficult for workers to discuss ideas and
share information.
Discuss How Each of These Issues Can Be Resolved or Improved
Loss of Soft Social Interaction:
Plan regular virtual team-building activities like online games or social events to
create bonding. Encourage frequent check-ins and virtual coffee breaks for
maintaining personal connections.
Loss of Energy and Excitement:
Assignment 1
Semester 2 2024
Unique No: 585848
DUE 26 August 2024
, Task One
Describe the Nature of Work Done at NOVA Economics
NOVA Economics is an economic and development analysis consulting firm. It deals
with highly technical work, entailing :
• Economic Analysis: Detailed examination of economic trends, policies, and
financial systems.
• Financial Modelling: Developing models to derive forecasts of financial
outcomes and to study the impact of economic policies.
• Data Analysis: Handling and interpreting large data volumes to come up with
information insights relevant for business and policy decisions.
• Specialist Areas: Expertise in international trade, public policy and regulation,
competition economics, and climate change.
• Client Focus: Tailored advice underpinned by an in -depth understanding of
the local Southern African business and policy context, drawing on a network
of local experts and international partners as needed.
Identify Problems Encountered by NOVA Economics Since the Pandemic
Enforced a Total, Five-Days-a-Week Homeworking
• Loss of Soft Social Interaction: The informal, on -the-spot interactions of an
office were lost, which impacted team cohesion and communication.
• Decreased Energy and Excitement: The energetic and thrilling office set-up
was hard to come by at home, and there was a notable decrease in the
morale and energy level of the team.
• Brainstorming Issues: Telecommuting changed the nature of brainstorming
and problem-solving into those that are more harder when people are
physically present.
• Challenges of Informal Dialogue and Information Sharing: The ease of
informal communication and knowledge sharing that goes on organically in an
office was reduced, making it more difficult for workers to discuss ideas and
share information.
Discuss How Each of These Issues Can Be Resolved or Improved
Loss of Soft Social Interaction:
Plan regular virtual team-building activities like online games or social events to
create bonding. Encourage frequent check-ins and virtual coffee breaks for
maintaining personal connections.
Loss of Energy and Excitement:
