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Pages:
2 pages/β‰ˆ550 words
Sources:
Check Instructions
Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 10.37
Topic:

Expanding the Diversity to Survive

Research Paper Instructions:

Competency
In this project, you will demonstrate your mastery of the following competency:
Communicate professionally to diverse internal and external audiences
Scenario
Your presentation 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.
Directions
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 company’s new venture and how it affects the general external audience. Your press release should address the following rubric criteria:
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.
What to Submit
To complete this project, you must submit your completed press release template of 1 to 2 pages using the provided templates, or the document you downloaded from Soomo. Sources should be cited according to APA style.
Supporting Materials
The following resources support your work on the project: Project Four Template

Research Paper Sample Content Preview:
BUS 225 Project Four Template
Press Release
DIVERSIFY TO SURVIVE
Presently, the US automotive industry is one of the most challenging operational segments bearing the changing phase of the industry and the increasing competition. Organizations that intend to stay sustainable must diversify effectively.
External Audiences
To the external audiences, the following points are important to understand in as far as pursuance of diversification by a player in the automotive industry is concerned:
* With advancements in electric cars and growth into self-driving cars, the industry is poised to change fast for its key players (Wagner, 2021).
* Organizations that are focused on singular operational portfolios must change before they are rendered irrelevant soon.
* Growth in electric and hybrid cars changes the market for gasoline cars considerably with at least one unit drop annually.
* The fact that the future of the industry demands innovation means that organizations will soon require more investments in research and development to stay sustainable in an industry that is fast growing to be competitive.
Diversification Decision
Diversification is one of the growth strategies that organizations can explore to maintain their sustainability in competitive industries. Through diversification, business organizations can identify market options in which they can operate with limited costs while maximizing their profits. For an organization whose industry is faced with the challenge of drastic overhaul, staying sustainable implies diversifying or transferring operational strengths, qualities, and inputs in other prospects in which they can deliver the ultimate outcomes.
Reaching the Decision
The decision to diversify was made following various grounds. Primarily, the market trends in the present industry and those in the upcoming industry were subject to a comparative analysis leading to a detailed platform for decision making. Positive trends in the use of pumps are developing among customers. Electric su...
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