6-2 Milestone Six: Audiovisual Presentation

timer Asked: Jan 30th, 2019
account_balance_wallet $70

Question Description

In Milestone Six, you will submit an audiovisual presentation (such as a webcam presentation or PowerPoint with audio) designed to pitch your concept to potential financial backers or senior executives. Your presentation should highlight the key elements of your business concept and implementation plan that are most likely to convince your audience to support the idea moving forward. Remember that while your audience wants to know you have thoroughly researched and planned out your idea, including implementation, they do not want a verbatim or lengthy repetition of the information in the business implementation plan when you pitch the idea. Instead, you should strategically select the information you will present and in how much detail based on your intended audience. You should bear in mind the key information they will want to know and the types of concerns they are likely to have, and anticipate the types of questions they are likely to ask.

Also bear in mind that financial or managerial support for a project often has as much to do with the individuals leading the project as with the concept. Backers need to be convinced of project leaders’ and key staff’s ability to be the face and drivers of the idea, as well as of their honesty and integrity. Since you are presumably one of the key team members, how you present is just as important as what you present in building audience trust. Be sure to communicate clearly and professionally throughout.

Critical Elements:

 Highlight the key elements of your business concept and implementation plan that are most likely to convince your audience to support the idea.

 Strategically select the information you will present and the level of detail based on your intended audience.

 Anticipate the key information the audience will want to know, the types of concerns they are likely to have, and the types of questions they are likely to ask.

 Highlight the project leaders’ and key staff’s ability to be the face and drivers of the idea.

 Your presentation should be clear, professional, and engaging to a diverse business audience.

Guidelines for Submission: Your audiovisual presentation should be approximately 30 minutes (or roughly the equivalent of 25 slides) with sufficient audio to give the audience a clear, but concise, understanding of the concept and its eventual implementation. Cite your sources within the text of your slides and on a reference slide.




RISK CONTROL • Limiting initial supply • Enterprise Risk Management (ERM) • Lean and Six Sigma REVENUE AND VALUE • Revenue Forecast • Net Present Value • Break-even • Internal rate of return • Tracking efficiency INTRAPRENEURSHIP AND COST SAVING OPPORTUNITIES • LEAN and Six Sigma • Eliminating waste • Concurrent engineering • Use of technology ADDITIONAL OPPORTUNITY • Luxury airport lounges QUESTIONS REFERENCES • DeMers, J. (2017, June 09). Is The Concept Of Brand Loyalty Dying? Retrieved June 2, 2018, from https://www.forbes.com/sites/jaysondemers/2017/06/09/is-the- concept-of-brand-loyalty-dying/#7ee000685b52 • Fletcher, B. (2013, April 25). Five Reasons Why Market Research Matters (and Five Tips for Using It). Retrieved June 2, 2018, from http://www.marketingprofs.com/opinions/2013/23874/five-reasons-why-market- research-matters-and-five-tips-for-using-it • How much revenue in the airline industry comes from business travelers compared to leisure travelers? (2015, April 13). Retrieved December 09, 2017, from https://www.investopedia.com/ask/answers/041315/how-much-revenue-airline-industrycomes-business-travelers-compared-leisure-travelers.asp • Lake, R. (2016, January 8). Business Travel Statistics: 23 Speedy Facts to Know. Retrieved December 09, 2017, from https://www.creditdonkey.com/business-travel-statistics.html • Lavinsky, D. (2014, January 17). Tracking These 6 Metrics Could Boost Your Sales. Retrieved January 13, 2018, from https://www.entrepreneur.com/article/230876 • Marketing Metrics and KPIs. (n.d.). Retrieved January 13, 2018, from https://www.klipfolio.com/resources/kpi-examples/marketing • McGuire, C. (2016, September 01). Flying first and business class has become cheaper due to plummeting oil prices (with fares from London to New York slashed by 37%). Retrieved December 29, 2017, from http://www.dailymail.co.uk/travel/travel_news/article-3768606/Flying-business-class-cheaper-plummeting-oil-prices-fares-London-New-York-slashed-37.html • Pinkney, D. (2009, April 20). Luxury goods sales to drop as much as 20% in first two quarters of 2009 according to latest Bain & Company luxury forecast. Retrieved June 2, 2018, from http://www.bain.com/about/press/press-releases/luxurygoods-sales-to-drop-as-much-as-20-in-first.aspx • Poole, H. (2015, February 24). How much do flight attendants really make? Retrieved December 09, 2017, from http://mashable.com/2015/02/24/how-much-do-flight-attendants-make/#3ywKwjGz5Oqb • Southwest Corporate Fact Sheet. (n.d.). Retrieved November 22, 2017, from https://www.swamedia.com/pages/corporate-fact-sheet • Southwest Airlines SWOT: Financial strength is mainstay, but cost and culture challenges loom large. (2014, September 21). Retrieved December 29, 2017, from https://centreforaviation.com/insights/analysis/southwest-airlines-swot-financial- strength-is-mainstay-but-cost-and-culture-challenges-loom-large-187714 • The secrets of Southwest's continued success. (2012, June 18). Retrieved December 29, 2017,from https://www.economist.com/blogs/gulliver/2012/06/southwest-airlines • Webb-Morgan, M. (2017, February 22). Southwest Airlines: A Case Study in Great Customer Service. Retrieved December 09, 2017, from https://www.business.com/articles/southwest-airlines-great-customer-service/ • Yogerst, J. (2013, February 13). Best and Worst Airlines for Lost Luggage. Retrieved December 09, 2017, from http://www.travelandleisure.com/slideshows/best-and-worst-airlines-for-lost-luggage#no-15-american-eagle • Young, M. (n.d.). Six Sigma Tools and the Eight Keys to Risk Management. Retrieved June 2, 2018, from https://www.isixsigma.com/tools-templates/risk-management/six-sigma-tools-and-eight-keys-risk-management/
SOUTHWEST AIRLINES: FIRST CLASS PROPOSAL Maxwell Capon MBA 705 – Milestone 6 BUSINESS IDEA • Addition of a first-class WHY NOW • Southwest's strong cash position • Economy is improving • Negative PR surrounding direct competitors TARGET DEMOGRAPHIC • Business travelers • Luxury travelers on a budget INTERNAL MARKETING • A better way to compete • Increase revenue • New opportunities EXTERNAL MARKETING • A more comfortable flight experience • In the hands of a trusted company • Lower ticket prices SOUTHWEST’S ADVANTAGES • Low-cost operating model • Brand Awareness • Customer service standards CHALLENGES • Attracting customers • Overcoming image as a low-cost carrier • Customer loyalty towards competing airlines INDUSTRY TRENDS •Low fares •Lower fuel prices
COSTS • Reconfiguring planes • Addition staffing needs • Food and drink service PRICING • Economy pricing • Taking into account Southwest vision and values KEY PERSONNEL • CEO - Gary Kelly • Chief Communications Officer - Linda Rutherford • Marketing Director – Jonathan Clarkson • Chief Operating Officer – Mike Van de Ven WORK BREAKDOWN STRUCTURE • Market research • Design and fabrication • Product launch • Analytics tracking • Customer feedback loop MARKET RESEARCH • Lays the groundwork for future tasks • Maintains a customer-centric focus • Consumer demographics • Competitor Identification • Route analysis DESIGN AND FABRICATION • Seat and plane layout • Allows for differentiation • Environmental sustainability • Maximize capacity • Prototype LAUNCH • Sets the tone for future operations • Plane refitting • Ticket release ANALYTICS TRACKING • Key performance indicators (KPI) • Return on investment • Customer habits • Sales and growth CUSTOMER FEEDBACK • Feedback loops • Using feedback to fuel change UNCERTAINTIES AND ASSUMPTIONS • Uncertainty of demand • Future state of economy • Cost estimates
Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL 3-1 Milestone Three: Company and Key Personnel Jonathan Brannan Southern New Hampshire University Course MBA-705 January 13, 2019 Dr. Isabel Wan 1 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL Introduction When launching a product, a company ought to ensure that all necessary resources are in place, in order to ensure successful designing, production, marketing and launching of the product. Personnel such as; market research experts, product designers, quality managers, a project manager, marketing personnel, and sales personnel, will be key in ensuring successful launch of Yo-Bran. These employees will play a key role of ensuring that: a thorough market research is conducted, the design of the product is appealing, production is carried out effectively and products are thoroughly tests, and that effective customer service is ensured. Leveraging human resource skills ensures that corporate culture is aligned to building a competitive advantage because employees offer innovative skills. Corporate culture has the potential to boost or bury a new product idea before or after it’s launched, hence the need to invest in the organizational culture in order to ensure that employees supports the company’s long term goals and innovation. 2 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL Organization’s Core Competencies Each company has its key competences, which could be corporate culture, product design, corporate responsibility, pricing, or customer service. However, even the most successful competencies can fail if not built on a strong corporate culture which encourages team work, innovation, and ensures employee satisfaction and motivation. Core competencies such as technology, experience, ability, and knowledge ensure innovation, low operating costs, and good customer services. These competencies help distinguish an organization and its products from rivals, thus resulting to high competitive advantage. Therefore, employees, who have the potential to achieve these competencies, can help the organization effectively create and implement the product. Companies have the potential of utilizing their personnel as one of the key competencies and as a means of developing strategic responsiveness (Belassi, 2013). Kellogg's can build on its human resource competences by expanding the existing human capital capacity and through employee training and recruitments. These efforts would make it possible to establish a culture which recognizes customer needs and meets them accordingly. Skilled personnel fits within the company’s long term goals, especially the core competencies needed for the product launch. Human resources offer a high level of innovation; hence diverse teams have capability to ensure the product’s success. Employee competencies go beyond simply performing daily job description tasks(Ivana Nacinovic, 2009). Rather, these competencies ensure that employees understand market trends, understand the company’s vision and mission, and buy into the company’s long terms goals of assuming market leadership in the cereals industry in the US market and across the globe. The company’s personnel also offers competences of tech skills as well as the ability to communicate effective, network, and partner with industry leaders. Therefore, the personnel will offer a platform on which the company and the new product can build its success. 3 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL Human resources are a key competence because employees are responsible of ensuring the company’s readiness to design, manufacture, market, and successfully launch the product. Fast growth of the product would also require an ability to keep up in order to ensure that supply matches demand, hence the need for employees to ensure scalability of resources to accommodate changes. A successful product launch and increased demand will automatically result to an increase in customer attention, hence the need to ensure a motivated and satisfied customer service team is in place to address these needs. This team would also ensure that customer inquiries and needs are addressed in time. Corporate Culture Kellogg's corporate culture has the capacity to affect the quality and quantity of the new product launch. Therefore, for successful launch of the product, the company should focus on being customer centric, should be technology driven, and should also be competitor focused. Customer focus. According to research, companies that adopt a customer centered corporate culture are able to achieve more success in products development and launch. By focusing on the customer needs, the company would be able to incorporate consumer feedback in the product design and development process (Walid Belassi, 2007). This would ultimately ensure customer loyalty as well as product recognition. Involving all employees. For successful launching of the product, internal stakeholders should be on board with the new product and should be kept engaged. All employees, including those who are not directly involved in the product launch, should be onboard. Therefore, before and after the launch, employees should be encouraged to embrace the product for personal use and share about it on their social media platforms. Before selling the product to the target customers, the company should first ensure that employees buy into 4 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL it. An ongoing workshop about the product should be established to ensure that employees are educated about the product. Technology. Kellogg's should focus on establishing a corporate culture centered on innovation and creativity. Before and during the product launch, innovation and creativity should be encouraged by creating a safe space where employees can freely express their thoughts. This will ensure that efficiency, affordable marketing, and low cost production are embraced. Customer needs and preferences are fast changing thus leading to changes in customer demand. Therefore, the company’s culture should be able to utilize these technologies in keeping up with the changing trends (Belassi, 2013). Through use of technology, they should be able to master latest innovations in order to create cutting edgeproducts. This should be the case, especially during the initial stages of product development which require a lot of creativity. The company should also be able to encourage risk taking, and the ability to come up with original ideas. This will help the team ensure that; rather than only following competitors’ approaches of producing, marketing, and distributing of cereal products, the company gets to support innovation which will help create a creative system for the product. This technology will help ensure quality of products, will encourage low operation costs, and will also save time. Diversity. Kellogg's should also embrace a culture of inclusion through which employees of different genders, race, and age groups are engaged in the product launch. This can help with innovation and creativity, and ensure diversity which is good for the company’s image, especially when dealing with customers and suppliers. 5 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL Key Roles, Responsibilities, and Qualifications Project manager. This role will entail coordinating all aspects of the product and resources involved, including human resources. This position requires thorough understanding of the market and the product. Senior management. The senior management, including the CEO and senior executives will play an important role of coordinating the team and in reinforcing innovation in order to position the organization towards achieving success. Product marketing launch manager. This is a central and critical role which will be at the center of the product launch process. This manager will be responsible of developing and executing a thorough market plan for the new product Sales Personnel. The product manager will work closely with the marketing personnel including sales team which will be on the ground ensuring that the cereal is thoroughly marketed in various markets. Product support/customer service team. This team will be responsible of ensuring that: after the product has been released, customer needs including possible complains are addressed accordingly. Contingency Plans In the event the team composition needs to be modified, the company will explore various options including employing individuals on permanent, contract, or temporary basis. As unexpected or additional tasks in research, marketing, or administration come up, the company will employ employees on contract basis to carry out temporary tasks, consultants will be utilized in drafting various strategies, while long term vacancies will be filled by new permanent basis hires. 6 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL A new product launch process will create additional work demand; hence hiring seasonal staff on temporary basis to meet this need will be the most effective approach. These employees will work for a temporary period of one year or less, thus ensuring that extra work is completed without incurring too much hiring cost. Unlike hiring on a permanent basis, seasonal employees are usually already skilled and previously vetted for the position; hence this contingency plan will help save the company time as well as money. This plan will also offer flexibility, making it possible to only hire specifically needed skills at a particular time. The company can also recruit part-time employees who will be paid an hourly wage rather than a monthly or annual pay. This approach will help save overheads as it minimizes employee down time (Marshall, 2014). Kellogg's can also opt for contractors who will bring in a team of workers to perform specific tasks, especially in manufacturing of the cereals. Unlike under a temporary or permanent employment arrangement, the company will not pay the workers directly, but rather, will pay the contractor who will in return pay the workers. Contractors tend to be experts who specialize in a specific skill, hence are likely to offer more expertise, thus ensuring success of the product. 7 Running head: MILESTONE 3-1 – COMPANY AND KEY PERSONNEL References Ali Gursoy, B. G. (2016). Effect of Innovative Culture on Intrapreneurship. International Journal of Business and Social Science , 11. Belassi, W. (2013). The Impact of Organizational Culture on the Success of New Product Development Projects: A Theoretical Framework of the Missing Link . The Journal of International Management Studies, Volume 8 Number 2, 10. Ivana Nacinovic, L. G. (2009). Corporate Culture and Innovation: Implications for Reward Systems . Ivana Nacinovic, Lovorka Galetic, and Nevenka Cavlek . Marshall, M. I. (2014). Planning for the Unexpected: Human Resource Risk and Contingency Planning. ResearchGate. Walid Belassi, A. Z. (2007). New product development projects: The effects of organizational culture. Project Management Journal. 8
Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN 2-1 Milestone Two: Implementation Plan Jonathan Brannan Southern New Hampshire University Course MBA-705 January 5, 2019 Dr. Isabel Wan 1 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN Physical and Technological Resources Capital resources. In order to fund production, marketing, and distribution of the new product, Kellogg`s Company will need an infusion of capital through exploring various capital contribution options. The new product will be funded through ploughing back of profits. Operational resources. In order to successfully implement the new product, Kellogg`s will need various resources such as a manufacturing facility for Yo-Bran. The company will also need to make room for more resources of additional staff, who will focus on the new product. The additional staff members will be recruited to ensure that there is sufficient staff team to deal with the additional needs of production, marketing, and manufacturing of the new product, as well as in running other operations-related tasks. A proper working space and sufficient information systems such as computers and new telephone lines will also be necessary. Experts. For successful implementation, the new product’s design and production will be carried out through a support team of experts. These individuals will provide expertise and train employees on how to successfully develop and launch the cereal product. Technologies. Some of the relevant technologies that will help cut cost and ensure efficiency in operations include; robotics and ERP. These can be used in enhancing communication in the production process. An active website will also be needed for smooth advertising of the product. Manufacturing of Yo-Bran will require precision in preserving the ingredients and in ensuring quality of products. Keeping a digital data system will help deliver real-time updates and overview of the process, thus ensuring accuracy and minimizing downtime which could be caused by stock out. The production process will also rely on formulaic production methodologies and detailed product recipes, thus ensuring that 2 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN that burden is alleviated from equipment operators, since the process will be less manual. These tools will ensure lean manufacturing and timely delivery of products to the market. Kellogg`s also has to comply with the food and beverage industry regulatory requirements. Therefore, emerging technologies such as Internet of Things (IoT) will be useful in ensuring that; when producing the product, the company is able to deploy improved track and trace methods in the post-production monitoring process. This way, any products that need improvement can be traced back to where the defects originated, thus making it possible to prevent repeat incidences of poor quality products. In stocking and restocking the product, the company will utilize a flow-through sorting system which will make the restocking process simpler. Robotic palletize and de-palletize technologies will be incorporated in order to ensure that modularity, flexibility, and scalability are ensured (Papageorgiou, 2018). Implementation Schedule 1. Market Research. This will be a three month process, during which a lot of money will be allocated to research and development. This task will be carried out by an outsourced team of market researchers. 2. Building the product. Based on the market needs identified during the research process, product design and the building process will begin, lasting for a period of two months. This process will include establishing the product mix. 3. Creating a buzz around the product. This task will take place one month before the launch. During this period, simple PR and press releases will be done. The marketing team will be responsible of this activity. A buzz will alert the target audience of the newly to be introduced cereal. The product will also be introduced through various media platforms. A buzz will help gain customers of the product before the actual product in actually launched to the market. 3 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN 4. Product launch. After manufacturing and creating a buzz, the product launch process will take place in a period of one week. Top managers and the marketing team will work closely in launching the product. Outsourced team of online marketers and tech savvy people will help with online marketing and optimization of online marketing campaigns. 5. Monitoring and development. After the launch, product monitoring will begin immediately. During this process, product quality, price, and demand as well as sales will be monitored closely in order to provide room for improvements. The quality will be monitored through customer feedback, and if need be, the necessary changes will be made. Table 1: Task Duration Party Responsible Market Research 3 months Contracted Company Building product 2 months (Product Design/ Manufacturing team Mix) Creating Buzz 1 months Marketing Team Product Launch 1 week Operations manager/ Top managers 4 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN Monitoring and Continuous development Manufacturing, Marketing, & Finance Team. Project Review Processes The project review processes will include operation, functional reviews as well as performance reviews (UAS, 2013). The project’s success is dependent on success of the product, which can be measured through sales increase, profitability, customer engagement, and customer loyalty. Success of the product’s implementation process shall be measured through the following factors; 1. Business Analytics. Success of the product in the market will be closely tracked using business analytics through various metrics of sales per day, new customers, repeat sales, and customer base growth. These metrics will help establish value of the launched product overtime, thus providing feedback on the areas that need improvement. The analysis will also measure customer engagement with the product on the company’s website. The biggest challenge will be maintaining the buzz and social media engagement before and after the launch, hence the focus on the ability to keep customers talking about the cereal and its health benefits will be a critical measure of the product’s success. 2. Testimonials. Online testimonials as well as reviews and feedback from customers will also be a key approach to reviewing success of the product. Due to the freedom that social media and other online platforms provide, objective criticism of the product will be available online, thus making it possible to make improvements. 5 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN 3. Customer surveys. After sales, customers will be offered an option to rate the cereal in terms of quality, fair pricing, and their satisfaction with the product in general. This will offer a more reliable form of feedback from actual customers. 4. Proven results in terms profitability and increase in sales. The ability to increase sales overtime and break even within the expected one year will be an indication that the product has performed well. Other factors such as a loyal and growing customer base will also be an indicator that the product is a success in the market. 5. Customer demographic trends. Often, a product may become more popular among unexpected demographics. The main geographic location for the Yo-Bran target market segment will be in the United States as there is a national shift to eating healthier. The age of the demographic will be 25-35, with a medium income of $35,000 - $70,000.Consumption of the product by this demographic as well as others will be closely monitored to establish demand trends. Intrapreneurship Factor Trademark. Protecting rights to the product is essential for long term profitability, as well as the ability to build competitive advantage. Defining origin of the product can help prevent third parties from legally developing an identical product, especially in terms of the design. Yo-Bran cereal is however not easy to trademark because cereals are a commonly available product (Papageorgiou, 2018). Therefore, restricting others from selling a similar product mix may be impossible (Musick, 2009). However, the company will be able to make the product’s brand stand out by using a name or phrase that is eligible for trademark, and focus on using it when marketing the product and other Kellogg’s products. In addition, other measures will be taken to ensure that the product mix ideas are all kept confidential through a non-compete and non-disclosure document signed by the employees who are directly 6 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN involved in the production process. This will ensure that employees do not use the knowledge of the product and communicate this to the competition or start a competition business. This agreement will be legally drafted by a lawyer who will help ensure that all ideas developed by employees in relation to the product will solely belong to the company, hence will only be for the benefit of the company. This will ensure that; in case of a falling out, former partners or employees do not act against the company. Leveraging on human capital. In order to ensure success, intrapreneurship and entrepreneurial factors such as the ability to find and manage the right people, will be considered. By leveraging on employees, vendors, and other human resources, pulling together of resources will be ensured, and the product will be a success. Organizational culture. The implementation process will take into account various factors of organizational culture (Ali Gursoy, 2016). Availability of a creative and innovative team will be significant in ensuring product success. A good team will also encourage risk taking, rather than only following competitors on how they navigate production, marketing, and distribution of cereal products. This ability to support innovation will help create a creative system for the product, including the ability to utilize technology in production, marketing, and distribution, thus saving time and cost. 7 Running head: MILESTONE 2-1 – IMPLEMENTATION PLAN References Ali Gursoy, B. G. (2016). Effect of Innovative Culture on Intrapreneurship. International Journal of Business and Social Science , 11. Bamdad, F. (2015). New Technologies in the Processing of Functional and Nutraceutical Cereals and Extruded Products. Nutraceutical and Functional Food Processing Technology. Musick, E. M. (2009). PROTECTION OF INTANGIBLE ASSETS. Procopio, 2. Papageorgiou, M. (2018). Introduction to cereal processing and by-products. Sustainable Recovery and Reutilization of Cereal. UAS. (2013). The Project Quality Review Process (PQRP). University of Oxford , 8. 8

Tutor Answer

School: Purdue University

flag Report DMCA

awesome work thanks

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors