In this project, you will demonstrate your mastery of the following competency:
Communicate professionally to diverse internal and external audiences
Your presentation(POWERPOINT ATTACHED) Â to stakeholders was wildly successful and the company has determined that it is in their best interest to move forward with the diversification strategy you recommended. Since you did so well with the presentation, you have been asked by company leadership to prepare a draft of the press release that will go out to announce this new strategy. Your press release is meant for the external audience that was not represented at the all-stakeholder meeting: a group that includes customers, vendors, suppliers, and the general community.
Complete the Project Four Worksheet in your Soomo webtext and submit it for instructor feedback.
Using the template provided in the supporting materials section below, draft a press release that reflects your companyâ€™s new venture and how it affects the general external audience. Your press release should address the following
Address the key points appropriate for external audiences.
Summarize the diversification decision.
Explain why the decision was made.
Explain where in the marketplace the new products are launching.
Identify who benefits from this product in both the company and the community.
BUS 225 Project Four Template
(Replace the bracketed text with your responses. Remove this note before submitting to your
[INSERT ATTENTION GRABBING HEADLINE IN ALL CAPS.]
[Insert strong lead sentence.]
[Address the key points appropriate for external audiences.]
[Summarize the diversification decision.]
[Explain why the decision was made.]
[Explain where in the marketplace the new products are launching.]
[Identify who benefits from this product in both the company and the community.]
[Insert closing paragraph incorporating the who, what, when, where, and why.]
Sales Department Manager
DIVERSIFYING IN THE
19 June 2022
KEY MESSAGE TO THE INTERNAL AND
â€¢ The key message to the internal and external stakeholders is
â€¢ The organization is going to generate more income.
â€¢ The organization is going to partner with other different
organization in the Automotive industry (Gruszka, 2021).
â€¢ The organization will diversify its assets
â€¢ The organization will be in a position to create new
talent of pools
â€¢ The organization will have a competitive
â€¢ The organization will create more job opportunities
to various unemployed people in the society.
DECISION ABOUT DIVERSIFICATION
â€¢ The various trends discussed which include;
â–Vehicle mileage has increased.
â–Increased use of passenger vehicles
â€¢ This is a clear indication that the organization diversification
will foster more benefits as compered to the relative losses.
LIKELIHOOD OF SUCCESS
â€¢ The information gathered portrays the industries as
complementary and excellent investment potential.
â€¢ However, the information presented does not include
information on competition from other businesses that serve
as alternatives in new industries, as well as risks from new
entrants (GirÃ£o, 2021).
â€¢ In general we can conclude that the organization has a high
likelihood of succeeding after entering in the Automotive
IMPACT OF MOVING TO A NEW INDUSTRY
â€¢ Moving in a new industry leads to many
â€¢ As a result, the company was able to maintain a
competitive advantage while still being relevant
in other areas (Maier, 2020).
â€¢ Changing industries fosters creativity, improves skills,
develops individuals, increases commercial
opportunities, and improves employee morale.
â€¢ Moving into a new industry, on the other hand, might
assist increase the amount of income created,
depending on the new organization’s profitability.
SUMMARY OF THE FINDINGS
â€¢ From the obtained data it is evident that there are a number
of numerous opportunities in investing in the Automotive
â€¢ The data depicts a high chance of the organization
succeeding in this field of operation.
CONCLUSION AND REASONING
â€¢ Automobiles have the potential to enhance people’s standard
of lifestyle by supplying them with increased mobility,
convenience, and safety.
â€¢ In addition, the sector aids in the creation of employment
and the development of skills (Penkov & Kuznetsov, 2021).
â€¢ Its many forward and backward linkages offer both direct
and indirect employment possibilities..
RATIONALE BEHIND THE
â€¢ The automotive industry is one of the most rapidly growing
â€¢ When it comes to manufacturing automotive items, technical
improvements have a direct impact on this segment (Maier,
â€¢ Because the world is advancing technologically, I feel this is
one of the ideal sectors for the company to enter and
â€¢ Gruszka, J. (2021). Technological Quality of Suppliers in the Automotive Industry: A Case
Study. European R esearch S tudies, 24, 449-458.
â€¢ GirÃ£o, J. M. S. (2021). The relationship between liquidity and profitability in the automotive
industry: a comparison between the electric car market and the traditional/hybrid
market (Doctoral dissertation).
â€¢ Maier, M. J. (2020). How to monitor business model portfolios: a new framework for the
automotive industry (Doctoral dissertation).
â€¢ Penkov, B., Sukhomlinova, V., Komandina, V., & Kuznetsov, A. (2021). STATE REGULATION
OF EXPORT AND INNOVATIVE GLOBAL MARKET: AUTOMOTIVE INDUSTRY OF THE USA.
In Ð”Ð¾ÑÑ‚Ð¸Ð¶ÐµÐ½Ð¸Ñ Ð²ÑƒÐ·Ð¾Ð²ÑÐºÐ¾Ð¹ Ð½Ð°ÑƒÐºÐ¸ 2021 (pp. 64-68).
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