I need an explanation for this Business question to help me study.
The assignment should contain THREE PARAGRAPHS (no need for headings or sub-headings):
Major Problem / Summary of recommendations: You must identify what you perceive to be the major problem facing the company in this first paragraph. You must summarize in specific terms your proposed action and the benefits such action will bring to the organization. Specific suggests that you present recommendations in precise enough terms for a manager to make a decision after reading the first paragraph if the case situation were real and s/he agreed with your proposal.
Rationale behind Recommendations: In this section, you will provide more specifics about your recommendations; including any pertinent background information that caused you to draw the conclusions that you did. This should include data from the case, and theoretical frameworks and concepts learned in class. For example, you could summarize the market, competitive, and internal factors behind your decision, giving a rationale for adopting your action plan in Paragraph 3 and discarding alternatives.Note, no plan is perfect, so you must examine the potential drawbacks to your recommendation.
Action Plan: How will you achieve your goals? How will you bring these recommendations to fruition? This section must include a discussion of the marketing mix – including specifics about product or service (PRODUCT) the distribution (PLACE), pricing strategies (PRICE), advertising and promotion (PROMOTION). Also, you could list any other tactics that specifically address the problem in the company. Finally, does your Action Plan create any drawbacks as well? If so, how would you proceed?
Other important points:
- Include any quantitative analysis (profit calculations; break even etc.) that you believe would be important for the reader to understand the case that you are making. However, for this class I recommend that you focus on qualitative strategic issues. To that end, on occasion I will provide you with the required results of the quantitative analysis.
- Exhibits should be used judiciously. Use them to explain concepts that supplement your recommendations.This also gives you more space in the memo to make your case.
- This is a business memo. As stated earlier you should NOT use a conversational style and do NOT include personal anecdotes (e.g., When I was in Europe, the guys bought this stuff every day.)
- You assume the role of the main character who has to address the major issue; however, some students prefer to take the role of an outside consultant. Note, assuming either role is fine.