This course features profiles of innovators, entrepreneurs, and employees behind successful businesses. Their inspiring stories reveal how business works and the underlying core concepts every manager needs to know. Every two weeks, you will examine a key business function (operations, finance, marketing, human resources, and management and leadership) and how they work together to create and grow successful businesses. As you analyze the functional elements of a business, you will participate in real-world activities that will transform understanding into action and the ability to apply concepts to your organization. In this course you will begin to develop your business acumen and a big picture, strategic understanding of how businesses work to compete and succeed in the marketplace.
Table of Contents
INSTRUCTIONAL MATERIALS
Required Resources
Black, A. (2015). How Business Works (9th ed.). New York, NY: DK Publisher.
COURSE LEARNING OUTCOMES
1. Describe how business works.
2. Examine the core concepts of product development, operations, marketing, finance, human resources, and management and leadership.
3. Evaluate the impact of competition in business.
4. Solve real-world business challenges using business concepts and critical and analytical thinking.
5. Communicate clearly, concisely, and professionally using business terminology.
6. Use technology and information resources to research business topics.
WEEKLY COURSE SCHEDULE
The standard requirement for a 4.5 credit hour course is for students to spend 13.5 hours in weekly work. This includes preparation, activities, and evaluation regardless of delivery mode.
| Week | Preparation, Activities, and Evaluation | Points |
| 1 | What is Business?
Explore · Strayer Stories (Mini-documentary): Real Business. Real People. · Reading: Introduction to Business · Introductions · Explore Activity: “Field Trip” Learn · Strayer Talks (Interactive lecture video): What is business? · Reading: Deep Dive · Additional Reading: How Business Works pp. 8-9, 12-31 Act · Reading: Introduction to Assignments Reflect · Feedback & Learning Reflection |
8
20 10 14 |
| 2 | Business is… Products. Focus: Product Development
Explore · Strayer Stories (Mini-documentary): Alikay Naturals · Reading: Introduction to Product Development · Explore Activity: “How You See It” Learn · Strayer Talks (Interactive lecture video): Product Development with Alikay Naturals · Reading: Deep Dive · Additional Reading: How Business Works pp. 304-311 Act · Assignment 1: Product Development and Operations – Category Manager Analysis (Due in Week 3, but students can get started early) Reflect Feedback & Learning Reflection |
8
20 10 14 |
| 3 | Business is… Products.
Focus: Operations Explore · Reading: Introduction to Operations · Explore Activity: “Hot Topic” Learn · Strayer Talks (Interactive lecture video): Operations with Alikay Naturals · Reading: Deep Dive · Additional Reading: How Business Works pp. 270-299, 312-321 Act · Assignment 1: Product Development and Operations – Category Manager Analysis (Due this week) Reflect · Feedback & Learning Reflection |
20
10 110 14 |
| 4 | Business is… Money. Focus: Finance
Explore · Strayer Stories (Mini-documentary): SunsTruck Sunglasses · Reading: Introduction to Finance · Explore Activity: “How You See It” Learn · Strayer Talks (Interactive lecture video): Finance with SunsTruck Sunglasses · Reading: Deep Dive · Additional Reading: How Business Works pp. 154-173 Act · Assignment 2: Finance and Accounting – Senior Accountant Analysis (Due in Week 5, but students can get started early) Reflect Feedback & Learning Reflection |
8
20 10 14 |
| 5 | Business is… Money.
Focus: Accounting Explore · Reading: Introduction to Accounting · Explore Activity: “Hot Topic” Learn · Strayer Talks (Interactive lecture video): Accounting with SunsTruck Sunglasses · Reading: Deep Dive · Additional Reading: How Business Works pp. 98-121 Act · Assignment 2: Finance and Accounting – Senior Accountant Analysis (Due this week) Reflect Feedback & Learning Reflection |
20
10 110 14 |
| 6 | Business is… Selling. Focus: Intro to Marketing
Explore · Strayer Stories (Mini-documentary): The Brooklyn Nets · Reading: Introduction to Marketing (The Marketing Mix) · Explore Activity: “Hot Topic” Learn · Strayer Talks (Interactive lecture video): Intro to Marketing with the Brooklyn Nets · Reading: Deep Dive · Additional Reading: How Business Works pp. 176-209 Act · Assignment 3: Marketing – Marketing Manager Analysis (Due in Week 7, but students can get started early) Reflect · Feedback & Learning Reflection |
8
20 10 14 |
| 7 | Business is… Selling
Focus: Marketing and Sales Explore · Reading: Marketing (continued) and Sales · Explore Activity: “Field Trip” Learn · Strayer Talks (Interactive lecture video): Marketing and Sales with the Brooklyn Nets · Reading: Deep Dive · Additional Reading: How Business Works pp. 234-235 Act · Assignment 3: Marketing – Marketing Manager Analysis (Due this week) Reflect · Feedback & Learning Reflection |
20
10 110 14 |
| 8 | Business is… People.
Focus: Management Explore · Strayer Stories (Mini-documentary): Zingerman’s Deli · Reading: Introduction to Management · Explore Activity: “Field Trip” Learn · Strayer Talks (Interactive lecture video): Management with Zingerman’s Deli · Reading: Deep Dive · Additional Reading: How Business Works pp. 50-77, 80-81 Act · Assignment 4: Leadership and Management – Leadership Consultant Analysis (Due in Week 9, but students can get started early) Reflect Feedback & Learning Reflection |
8
20 10 14 |
| 9 | Business is… People.
Focus: Leadership Explore · Reading: Introduction to Leadership · Explore Activity: “How You See It” Learn · Strayer Talks (Interactive lecture video): Leadership with Zingerman’s Deli · Reading: Deep Dive · Additional Reading: How Business Works pp. 64-65, 84-91 Act · Assignment 4: Leadership and Management – Leadership Consultant Analysis (Due this week) Reflect Feedback & Learning Reflection |
20
10 110 14 |
| 10 | Business is… Competition.
Explore · Strayer Stories (Mini-documentary): Netflix vs. Amazon · Reading: Introduction to Competition · Explore Activity: “Hot Topic” Learn · Strayer Talks (Interactive lecture video): Competition with Netflix and Amazon · Reading: Deep Dive Act · Assignment 5: Competition – Market Research Manager Analysis (Due this week) Reflect Feedback & Learning Reflection |
8
20 10 55 14 |
| 11 | Wrap-up
Reflect · Course Feedback & Course Learning Reflection |
17 |
GRADING SCALE
| Assignment | Total Points | % of
Grade |
| Strayer Stories (Mini-documentaries)
(6 videos, 8 points each) |
48 | 4.8% |
| Explore Activities (Discussion questions)
(10 activities, 20 points each) |
200 | 20% |
| Strayer Talks (Interactive lecture videos)
(10 videos, 10 points each) |
100 | 10% |
| Assignment 1 (Product Development & Operations) | 110 | 11% |
| Assignment 2 (Finance & Accounting) | 110 | 11% |
| Assignment 3 (Marketing & Sales) | 110 | 11% |
| Assignment 4 (Management & Leadership) | 110 | 11% |
| Assignment 5 (Competition): | 55 | 5.5% |
| Feedback & Learning Reflections (10 reflections, 14 points each; Final reflection, 17 points) | 157 | 15.7% |
| Totals | 1,000 | 100% |
| Points | Percentage | Grade |
| 900 – 1,000 | 90% – 100% | A |
| 800 – 899 | 80% – 89% | B |
| 700 – 799 | 70% – 79% | C |
| Below 700 | Below 70% | F |
ATTENDANCE POLICY
This course uses the YellowDig platform for your weekly discussions. Posting a new topic and commenting on other students’ topics will record attendance automatically.
| BUS508 Contemporary Business |
© 2017 Strayer University. All Rights Reserved. This document contains Strayer University Confidential and Proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.
BUS 508 Student Course Guide (6-1-18) Page 7 of 27
ASSIGNMENT 1 – Weeks 2 & 3
Product Development & Operations: Category Manager Analysis
Due Date: Week 3
Note: While representative of possible situations faced by Alikay Naturals, all scenarios in this assignment are fictional.
Real Business
Let’s roll up our sleeves and use what we’ve learned this week in a real-life business situation. Each week, you’ll encounter a scenario where you will assume the role of a businessperson at or who works at a national discount retail store, like a Walmart or Target. These companies provide important, everyday staples for millions of people across the country and have become very successful businesses in the process.
Discount retail stores have locations in communities across the country. They often have strong and recognizable brands that are household names. We will explore how business works throughout this course by taking on a few of the many different roles at successful companies like these.
Your Role
This week, you’ll assume the role of a Category Manager for the Beauty Products category at a national discount retail store.
| What Is a Category Manager?
Category Managers are responsible for related groups of products (for example, baseball equipment or laundry detergents) for a retail business. They use research, information and insights about the category to change shopper behavior and increase sales of the products in the category. They also work with the suppliers of the products in their category to ensure that good products and services are available to customers. |
As a Category Manager, part of your role is to analyze data and information about how well a product is selling to help the maker of that product improve the product and consider introducing new products. Rochelle and her team at Alikay Naturals have asked you, the Beauty Products Category Manager, to review one of their products and determine where it lies in the product life cycle. Additionally, they have asked you to recommend ways to improve the product in order to increase sales.
Instructions
Step 1: Product Life Cycle
Read the Product Report for Alikay Naturals Moisturizing Black Soap Shampoo. The Product Report contains important information that will help you to identify where the product stands in the Product Life Cycle and give you clues about what changes customers might like to see. Respond to Rochelle and her team at Alikay Naturals based on the information in the Product Report.
· Identify where Moisturizing Black Soap Shampoo is currently positioned in the product life cycle and describe the rationale for your position.
· Compose 3 questions that Rochelle should pose to her team to better understand the product’s positioning and potential at this particular stage in its life cycle. (E.g., if you have determined the product is in the Introduction Phase, you might suggest the question: How have competitors priced similar products?)
Step 2: Product Changes
Based on what you’ve learned:
· What recommendation(s) do you have for Alikay Naturals to improve or replace Moisturizing Black Soap Shampoo?
Step 3: New Product Development
Read the New Product Proposal, which contains three examples of possible products that could be developed to replace Moisturizing Black Soap Shampoo. Based on the information in this proposal and the customer feedback in the Product Report:
· If you had to recommend one product, which product would you recommend they create? Explain your decision.
· Determine which type of innovation this represents from among the four main types discussed this week. Briefly explain why you chose that type of innovation.
Note: You should complete Step 4 after reading the material in Week 3.
Step 4: Production Methods
Based on your understanding of Alikay’s position in the product life cycle and expected sales volume:
· Which production method do you think Alikay is using for the Black Soap Shampoo? Explain your rationale.
· If Alikay chose to keep the Moisturizing Black Soap Shampoo and launch your recommended product as a “limited time only” trial, what production method should Alikay use for the test market product? Why?
Step 5: Real-World Application
· Choose a product at your company or one that you are familiar with that is in the mature stage of the product life cycle. Briefly describe the product, why you believe it is in this phase, and what improvements could be made to change its current path.
| Points: 110 | Assignment: Product Development and Operations – Category Manager Analysis | |||
| Criteria | Unacceptable
Below 70% F |
Fair
70-79% C |
Proficient
80-89% B |
Exemplary
90-100% A |
| 1. Identify and explain where the Alikay product is in its life cycle and compose 3 questions that Rochelle should pose to her team, relative to the life cycle stage.
Weight: 15% |
Does not accurately identify the product life cycle stage and/or does not explain rational logically; does not cite supporting information. Does not include questions or includes questions that do not reflect course materials. Demonstrates inadequate understanding of stages of product life cycle. | Accurately identifies the product life cycle stage.
Explains rationale logically but not completely; does not cite sufficient supporting information. OR Does not accurately identify the product life cycle stage. Explains rationale logically; cites adequate supporting information. Includes 3 questions that showed adequate understanding of relevant life cycle phase. Demonstrates adequate understanding of the stages of product life cycle. |
Accurately identifies the product life cycle stage.
Explains rationale logically; cites some adequate supporting information from the course. Includes 3 questions that showed good understanding of relevant life cycle phase. Demonstrates good understanding of stages of product life cycle. |
Accurately identifies the current product life cycle stage.
Explains rationale thoughtfully and thoroughly; cites complete supporting information from the course and may supplement with outside research. Demonstrates excellent understanding of stages of product life cycle. |
| 2. Describe how Alikay can improve their product or why they should consider replacing it. Support your answer.
Weight: 15% |
Does not or minimally describes improvements; does not support recommendation. Demonstrates inadequate understanding of product report and its uses. | Partially describes improvements or reasons to replace product; partially supports answer with information from product report and/or course material.
Demonstrates adequate understanding of product report and its uses. |
Satisfactorily describes improvements or reasons to replace product; fully supports answer with information from product report and/or course material.
Demonstrates good understanding of product report and its uses. |
Thoroughly describes improvements or reasons to replace product; clearly and fully supports answer with information from product report and course material and may supplement with outside research or ideas.
Demonstrates excellent understanding of product report and its uses. |
| 3. Recommend one of the three replacement options. Explain your answer and identify which type of innovation it is.
Weight: 15% |
Does not make recommendation or does not support answer with information from the course; does not accurately identify innovation type.
Demonstrates inadequate understanding of innovation. |
Makes recommendation; minimally supports answer with information from course and product report; accurately identifies innovation type.
Demonstrates adequate understanding of innovation. |
Makes recommendation; adequately supports answer with information from course and product report; accurately identifies innovation type.
Demonstrates good understanding of innovation. |
Makes recommendation; fully supports answer with information from course and product report and may supplement with outside research or ideas; accurately identifies innovation type.
Demonstrates excellent understanding of innovation. |
| 4. Explain what types of production methods would be appropriate for both the Moisturizing Black Soap Shampoo and the “limited time trial” product. Support your answers.
Weight: 15% |
Does not identify production methods and/or does not support answer.
Demonstrates inadequate understanding of production methods. |
Identifies production method; minimally supports answer with information from the product report and course material.
Demonstrates adequate understanding of production methods. |
Identifies production method; adequately supports answer with information from the product report and course material.
Demonstrates good understanding of production methods. |
Identifies production method; fully supports answer with information from the product report and course materials and may supplement with outside research or ideas.
Demonstrates excellent understanding of production methods. |
| 5. Describe a product that you believe is in a mature life cycle phase and what could be done to move it to a growth phase.
Weight: 30% |
Does not accurately identify product and/or does not explain rationale or strategy for change.
Demonstrates inadequate understanding of life cycle phases. |
Accurately identifies product; provides acceptable rationale and some support from course material.
Demonstrates adequate understanding of life cycle phases. |
Accurately identifies product; provides logical rationale and cited support from course material.
Demonstrates good understanding of life cycle phases. |
Accurately identifies product; provides thorough, logical rationale and complete support from course material and perhaps also outside research or ideas.
Demonstrates excellent understanding of life cycle phases. |
| 6. Write in a professional manner using correct grammar and spelling and appropriate citations.
Weight: 10% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. Does not include citations or they do not allow the reader to locate the source. |
Writing is satisfactory.
Professional tone is developing. Shows moderate logic, clarity, and/or consistent formatting. May contain more than 2-4 spelling and/or grammatical errors. Includes citations but they may be inconsistently formatted or they do not easily allow the reader to locate the source. |
Writing is mostly good.
Tone is professional. Shows logic, clarity, and consistent formatting. May contain few or no spelling and/or grammatical errors. Includes citations that allow the reader to locate the source. |
Writing is excellent.
Tone is professional and sophisticated. Shows logic, clarity, and consistent formatting. Contains no spelling or grammatical errors and work is cited consistently so that the reader can locate the work cited. |
ASSIGNMENT 2 – Weeks 4 & 5
Finance & Accounting: Senior Accountant Analysis
Due Date: Week 5
Note: While representative of possible situations faced by SunsTruck Sunglasses, all scenarios in this assignment are fictional.
Real Business
Large discount retailers like Target and Walmart employ large teams of Finance and Accounting professionals to help measure and understand the financial health of the business. Financial and accounting information helps these businesses make educated financial decisions, such as whether or not to continue partnering with a retail supplier. While often smaller businesses, it is equally important for these retail suppliers to use financial and accounting data to make educated decisions, such as the best approach to gaining additional funding.
Your Role
This week, you’ll assume the role of Senior Accountant with SunsTruck Sunglasses.
| What is a Senior Accountant?
Senior Accountants take ownership of reporting costs, profitability, margins and expenditures for a given business. They use the principles of accounting to analyze sales information, create financial reports, make recommendations about the financial health of the company, and more. They are also responsible for training junior accounting staff. |
For the last six months, SunsTruck has partnered with the discount retail store to run pop-up sunglasses stands in their stores for a big summer promotion. Due to the high customer purchase rate, the store has requested stock for five additional stores. SunsTruck needs to increase its production to meet the additional demand. In order to increase production, SunsTruck needs additional money.
In this assignment, you will need to help determine which type of financing option is best for your company and train your junior accountants on the accounting cycle and financial statements.
Instructions
Step 1: Financing
The junior accounting team has assembled a Financing Report that (a) offers three options for securing the additional funds required to meet the new order; and (b) details the criteria Shaun, the owner of SunsTruck, would like you to consider when choosing one of the options. Based on this report:
· Identify which financing option you think is the best option for SunsTruck to pursue given Shaun’s constraints. Explain the rationale for your decision.
Note: You should complete Steps 2 & 3 after reading the material in Week 5.
Step 2: Accounting Cycle
A junior accountant is working to get everything in order for the new financing and has come to you with a question about what do next in the accounting cycle.
· Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Explain your reasoning.
Step 3: Financial Statements
A potential investor has been identified, but before it is willing to commit, it has requested information about SunsTruck’s current debt from the junior accountants.
· Identify the correct financial statement for your junior accountants that will provide the investor with the information it has requested. Explain to your junior accountants why you are giving them this financial statement and where the debt information is located.
Step 4: Financial Analysis
If you were the type of financier selected in Step 1, would you invest in SunsTruck? Explain the rationale for your decision.
| Points: 110 | Assignment: Finance & Accounting – Senior Accountant Analysis | |||
| Criteria | Unacceptable
Below 70% F |
Fair
70-79% C |
Proficient
80-89% B |
Exemplary
90-100% A |
| 1. Identify the best financing option and explain your reasoning.
Weight: 30% |
Does not accurately identify financing option; explanation lacks logic and supporting information.
Demonstrates inadequate understanding of finance. |
Accurately identifies financing option; minimally supports answer with logical explanation and information from the Financing Report and/or course material;
OR Does not accurately identify financing option; adequately supports answers with information from the Financing Report and/or course material. Demonstrates adequate understanding of finance. |
Accurately identifies financing option; adequately supports answer with logical explanation and information from the Financing Report and/or course material.
Demonstrates good understanding of finance. |
Accurately identifies financing option; thoroughly supports answer with logical explanation and specific information from the Financing Report and course material.
Demonstrates excellent understanding of finance. |
| 2. Identify the next step in the accounting cycle for the junior accountant to complete and explain your reasoning.
Weight: 20% |
Does not accurately identify accounting cycle step; explanation is missing or lacks logic and supporting information.
Demonstrates inadequate understanding of accounting. |
Accurately identifies accounting cycle step; minimally supports answer with logical explanation and information from course material;
OR Does not accurately identify financing option; adequately supports answers with information from course material. Demonstrates adequate understanding of accounting. |
Accurately identifies accounting cycle step; adequately supports answer with logical explanation and information from course material.
Demonstrates good understanding of accounting. |
Accurately identifies accounting cycle step; thoroughly supports answer with logical explanation and specific information from course material.
Demonstrates excellent understanding of accounting. |
| 3. Identify the best financial statement to provide to the potential investor and explain your reasoning.
Weight: 20% |
Does not accurately identify financial statement and/or explanation is missing or lacks logic and supporting information.
Demonstrates inadequate understanding of financial statements. |
Accurately identifies financial statement; minimally supports answer with logical explanation and information from financial statements and/or course material;
OR Does not accurately identify financial statement; adequately supports answers with information from financial statements and/or course material. Demonstrates adequate understanding of financial statements. |
Accurately identifies the financial statement; adequately supports answer with logical explanation and information from financial statements and course material.
Demonstrates good understanding of financial statements. |
Accurately identifies financial statement; thoroughly supports answer with logical explanation and specific information from financial statements and course material.
Demonstrates excellent understanding of financial statements. |
| 4. Recommend whether or not, you as the financier, should invest in SunsTruck and explain reasoning.
Weight: 20% |
Makes no recommendation and/or does not provide supporting explanation or information.
Demonstrates inadequate understanding of financial analysis. |
Makes a recommendation; minimally supports answer with logical explanation and information from financial statements and/or course material.
Demonstrates adequate understanding of financial analysis. |
Makes a recommendation; adequately supports answer with logical explanation and information from financial statements and course material.
Demonstrates good understanding of financial analysis. |
Makes a recommendation; thoroughly supports answer with logical explanation and specific information from financial statements and course material.
Demonstrates excellent understanding of financial analysis. |
| 5. Write in a professional manner using correct grammar and spelling and appropriate citations.
Weight: 10% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. Does not include citations or they do not allow the reader to locate the source. |
Writing is satisfactory.
Professional tone is developing. Shows moderate logic, clarity, and/or consistent formatting. May contain more than 2-4 spelling and/or grammatical errors. Includes citations but they may be inconsistently formatted or they do not easily allow the reader to locate the source. |
Writing is mostly good.
Tone is professional. Shows logic, clarity, and consistent formatting. May contain few or no spelling and/or grammatical errors. Includes citations that allow the reader to locate the source. |
Writing is excellent.
Tone is professional and sophisticated. Shows logic, clarity, and consistent formatting. Contains no spelling or grammatical errors and work is cited consistently so that the reader can locate the work cited. |
ASSIGNMENT 3 – Weeks 6 & 7
Marketing: Marketing Manager Analysis
Due Date: Week 7
Note: While representative of possible situations faced by the Brooklyn Nets, all scenarios in this assignment are fictional.
Real Business
For a large discount retail store like Target and Walmart, it can be difficult to get the marketing mix just right for a given product. There are so many products in the store fighting for the attention of customers. There is also the challenge of helping the suppliers of each product maximize their profits while making sure the store is making money. With so many things to consider, working in marketing for such a large business can be a challenge.
Your Role
This week, you’ll be acting as a Marketing Manager in the sporting goods section.
| What is a Marketing Manager?
Marketing Managers are responsible for developing, implementing and executing marketing plans, either for an entire organization or for particular categories or products within the organization, in order to attract potential customers and keep existing ones. Their day-to-day tasks include managing and coordinating marketing and creative staff, leading market research to improve existing products and services, working with advertising agencies, and determining the best way to get products in front of customers. |
As a marketing manager for a discount retail store in Brooklyn, you have been asked to evaluate a marketing plan for basketballs to ensure that the 4 P’s of marketing are being applied well. Using your knowledge of the 4 P’s and the best approach to generating sales, you’ll take a look at a number of marketing recommendations and choose the approach that you believe will sell the most products.
Instructions
Step 1: Product
In the Marketing Analysis Presentation provided by your marketing team, you’ll see three different basketballs that need to be included in the product display on Slide 2. Each product has unique features.
· Based on the information provided about the customers that shop at this store location on Slide 3, choose the basketball that you think will sell the most. Explain the rationale for your decision.
Step 2: Place
On Slide 4 of the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products.
· Use your knowledge about product placement to choose the best place to sell the products, deciding between traditional stores and online. Explain the rationale for your decision.
Step 3: Promotion
Slide 5 of the Marketing Analysis Presentation shows three recommended advertisements, including a special deal promotion, for the product that is expected to sell the best.
· Based on the information provided about the customers that shop at this discount retail store on Slide 3, determine which promotion will sell the most product at this particular store. Explain the rationale for your decision.
Step 4: Price
Finally, look at the pricing options available for each of the three products together on Slide 6.
· Based on your knowledge of the Pricing Strategies discussed on pages 186-187 in the textbook, choose the option that has the best pricing mix for all three products. Refer back to the customer information on Slide 2, if needed. Explain the rationale for your decision.
Note: You should complete Steps 5 and 6 after reading the material in Week 7.
Step 5: Brand and Sales Pitch
The company that makes one of the basketballs is looking to rebrand the product. They have asked for your input on possible brands ideas.
· First, read the Brand Vision statement, which summarizes the goal for the new brand. Then, look at the logo, name, and tagline recommendations. Which of the two brand directions do you think best meets the goals of the brand vision? Please support your decisions.
· Second, write a 2-3 sentence sales pitch that you would use to try to convince someone to purchase this product.
Step 5: Market Segmentation
The marketing plan for the basketballs at the Brooklyn store has been in place now for four months, and the marketing team has assembled a report reviewing sales data and customer feedback for the last quarter’s basketball sales. Overall, the results are lower than you expected and you are concerned that your marketing and creative staff has not properly segmented your target customers.
Remember, like many products in the marketplace, the basketball’s marketing campaigns must target two different groups of customers: (1) adults who purchase the item as a gift and, therefore, do not actually use the product; and (2) adults and teenagers who purchase the item for their own use and enjoyment. Both groups have different reasons and expectations surrounding the item in question, and those reasons and expectations will have significant impacts on the buyers’ purchasing decisions.
· Review the five customer segments detailed on pages 194-195 of your textbook: Behavioral, Sociographic, Psychographic, Geographic and Demographic. Select one focus area of each segment that you feel is most relevant to the sale of basketballs at this store location.
· Keeping in mind the 4 P’s, write 1-2 questions for each focus area that will guide your staff as they investigate these aspects of your campaign.
Example:
· Segment: Geographic
· Focus Area: Neighborhood
· Questions: What combination of marketing and media channels did we use to reach current and potential customers? How are we gathering information on where current customers live who purchased a basketball?
| Points: 110 | Assignment: Marketing – Marketing Manager Analysis | |||
| Criteria | Unacceptable
Below 70% F |
Fair
70-79% C |
Proficient
80-89% B |
Exemplary
90-100% A |
| 1. Recommend the basketball that will sell the most and explain your reasoning.
Weight: 10% |
Makes no recommendation and/or
provides minimal or no supporting information. Demonstrates inadequate understanding of market analysis. |
Makes an adequate recommendation.
Provides partial support from course materials and Marketing Analysis presentation. Demonstrates adequate understanding of market analysis. |
Makes a good recommendation.
Provides adequate support from course materials and Marketing Analysis presentation. Demonstrates good understanding of market analysis. |
Makes an excellent recommendation.
Provides thorough support from course materials and Marketing Analysis presentation and may also cite outside research or ideas. Demonstrates excellent understanding of market analysis. |
| 2. Identify the best channel (traditional store or online) to place the product and explain your rationale.
Weight: 10% |
Does not accurately identify channel and/or explanation is missing or lacks logic and supporting information.
Demonstrates inadequate understanding of product placement. |
Accurately identifies channel; minimally supports answer with logical explanation and information from Marketing Analysis presentation and/or course material;
OR Does not accurately identify best channel; adequately supports answers with information from Market Analysis presentation and/or course material. Demonstrates adequate understanding of product placement. |
Accurately identifies channel; adequately supports answer with logical explanation and information from Market Analysis presentation and course material.
Demonstrates good understanding of product placement. |
Accurately identifies channel; thoroughly supports answer with logical explanation and specific information from Market Analysis presentation and course material.
Demonstrates excellent understanding of product placement. |
| 3. Recommend a promotion and explain your reasoning.
Weight: 10% |
Makes no recommendation and/or
provides minimal or no supporting information. Demonstrates inadequate understanding of promotions and pricing. |
Makes an adequate recommendation.
Provides partial support from course materials and Marketing Analysis presentation. Demonstrates adequate understanding of promotions and pricing. |
Makes a good recommendation.
Provides adequate support from course materials and Marketing Analysis presentation. Demonstrates good understanding of promotions and pricing. |
Makes an excellent recommendation.
Provides thorough support from course materials and Marketing Analysis presentation and may also cite outside research or ideas. Demonstrates excellent understanding of promotions and pricing. |
| 4. Recommend a pricing option and explain your reasoning.
Weight: 10% |
Makes no recommendation and/or
provides minimal or no supporting information. Demonstrates inadequate understanding of pricing. |
Makes an adequate recommendation.
Provides partial support from course materials and Marketing Analysis presentation. Demonstrates adequate understanding of pricing. |
Makes a good recommendation.
Provides adequate support from course materials and Marketing Analysis presentation. Demonstrates good understanding of pricing. |
Makes an excellent recommendation.
Provides thorough support from course materials and Marketing Analysis presentation and may also cite outside research or ideas. Demonstrates excellent understanding of pricing. |
| 5.Choose the most appropriate brand direction and write a simple sales pitch.
Weight: 20% |
Does not choose the most appropriate brand direction and does not support their decision effectively.
Sales pitch is confusing and does no sell the product well. |
Chooses the best brand direction but does not support their decision well. Writes an appropriate sales pitch. | Chooses the best brand direction and provides good support for their answer, but does not use key terms in their answer. Writes an appropriate and creative sales pitch. | Chooses the best brand direction and provides excellent support for their choice, citing key concepts and terms from the course materials. Writes and effective and compelling sales pitch. |
| 6. Select a relevant focus area for each of the 5 customer segments and ask 1-2 questions for each that your team should explore.
Weight: 30% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. |
Questions address some relevant aspects of customer segmentation.
Demonstrates adequate understanding of market segmentation and the 4 P’s. |
Questions address most or all relevant aspects of customer segmentation.
Demonstrates good understanding of market segmentation and the 4 P’s. |
Questions thoroughly address the most relevant aspects of customer segmentation.
Demonstrates excellent understanding of market segmentation and the 4 P’s. |
| 7. Write in a professional manner using correct grammar and spelling and appropriate citations.
Weight: 10% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. Does not include citations or they do not allow the reader to locate the source. |
Writing is satisfactory.
Professional tone is developing. Shows moderate logic, clarity, and/or consistent formatting. May contain more than 2-4 spelling and/or grammatical errors. Includes citations but they may be inconsistently formatted or they do not easily allow the reader to locate the source. |
Writing is mostly good.
Tone is professional. Shows logic, clarity, and consistent formatting. May contain few or no spelling and/or grammatical errors. Includes citations that allow the reader to locate the source. |
Writing is excellent.
Tone is professional and sophisticated. Shows logic, clarity, and consistent formatting. Contains no spelling or grammatical errors and work is cited consistently so that the reader can locate the work cited. |
ASSIGNMENT 4 – Weeks 8 & 9
Leadership & Management: Leadership Consultant Analysis
Due Date: Week 9
Note: All scenarios in this assignment are fictional.
Real Business
It can be difficult for a business to improve how it operates from inside the organization. Sometimes, an outside perspective is needed. The large discount retail store you work for wants to improve its in-store restaurant management team.
Your Role
Companies like Target and Walmart often works with outside consultants—people who are not employees of the company but who are hired on a contract basis to help with a specific project. As a Leadership Consultant, you’ve been hired by a large discount retail company to help the company improve its leadership structure and approach to management.
| What is a Leadership Consultant?
A leadership consultant is a person called in to a company, be it a large corporation or a small business, to evaluate how it operates and make recommendations for improvement. Leadership consultants are typically hired when a business is struggling and needs to make changes in order to remain profitable. Such consultants are often highly educated in the field of business and have experience in managerial roles. |
Instructions
Step 1: Organizational Structure
Take a look at the Organization Chart provided by the company.
· Based on your knowledge of hierarchies, would you say that this team has tall structure or flat structure? Explain your answer.
Step 2: Human Resources
The company would like to improve the culture of its team and the quality of its work. Its leadership has provided you with a Process Chart detailing how it currently applies Human Resources best practices.
· What step of the Human Resources Cycle is missing? Explain why it is important to include this part of the process.
Note: You should complete Step 3 after reading the material in Week 9.
Step 3: Leadership Style
You have been asked to help improve the leadership style of the company’s team leader in order to meet the team’s performance goals. The team leader has given you a description of what is most comfortable in terms of leading others.
· Identify this leader’s style of leadership, and list two benefits and two drawbacks to that style as it relates to the performance of the team.
· Provide advice to the team leader on how to overcome the drawbacks of this leadership style.
Step 4: Real-World Application
Apply the thinking in Steps 1-3 as if you were a Leadership Consultant hired by the company where you work or for a previous employer.
· Review the organization chart for your company. Based on your knowledge of hierarchies, would you say that your company’s team has a tall structure or flat structure? How does this affect the way your team works? Explain your answer.
· Consider the work conducted by the Human Resources team at your company. What steps of the Human Resources Cycle do they implement well? What steps of the Human Resources Cycle might be missing from your company or are not implemented as well as they could be? What is the effect of this on you and your team? Explain your answer.
· Lastly, reflect on the leadership style of either yourself or your supervisor. What leadership style do you have, or what leadership style does your supervisor have? What are the benefits and drawbacks of this style for your team? What might you or your supervisor do to improve leadership? Explain your answer.
| Points: 110 | Assignment: Leadership & Management – Leadership Consultant Analysis | |||
| Criteria | Unacceptable
Below 70% F |
Fair
70-79% C |
Proficient
80-89% B |
Exemplary
90-100% A |
| 1. Identify the type of organizational structure and explain your reasoning.
Weight: 20% |
Does not accurately identify type of organizational structure and/or does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of organizational structure. |
Accurately identifies type of organizational structure; explanation lacks some logic or supporting information;
OR Does not accurately identify type of organizational structure; Explanation is mostly logical and supported with information from the course material and/or Organization Chart. Demonstrates adequate understanding of organizational structure. |
Accurately identifies type of organizational structure; explanation is logical and supported with some information from the course material and/or Organization Chart.
Demonstrates good understanding of organizational structure. |
Accurately identifies type of organizational structure; explanation is logical and thorough and fully supported with specific information from the course material and Organization Chart.
Demonstrates excellent understanding of organizational structure. |
| 2. Identify which step of the Human Resources Cycle is missing and explain its importance.
Weight: 20% |
Does not accurately identify missing step and/or provides no or minimal explanation and no supporting information.
Demonstrates inadequate understanding of human resources cycle. |
Accurately identifies missing step;
explanation lacks some logic or supporting information; OR Does not accurately identify missing step; explanation is mostly logical and cites some supporting information. Demonstrates adequate understanding of human resources cycle. |
Accurately identifies missing step; explanation is mostly clear and logical and cites supporting information from course material and/or Process Chart.
Demonstrates good understanding of human resources cycle. |
Accurately identifies missing step; explanation is clear, thorough and logical and cites specific information from the course material and Process Chart.
Demonstrates excellent understanding of human resources cycle. |
| 3. Identify the team leader’s leadership style and its benefits and drawbacks to their team.
Weight: 20% |
Does not accurately identify leadership style and/or provides no or minimal explanation and minimal or no supporting information.
Demonstrates inadequate understanding of leadership styles. |
Accurately identifies leadership style; explanation lacks some logic or supporting information;
OR Does not accurately identify leadership style; explanation is mostly logical and cites some supporting information. Demonstrates adequate understanding of leadership styles. |
Accurately identifies leadership style; explanation is mostly clear and logical and cites supporting information from course material and/or Leadership Report.
Demonstrates good understanding of leadership styles. |
Accurately identifies leadership style; explanation is clear, thorough and logical and cites specific information from the course material and Leadership Report.
Demonstrates excellent understanding of leadership styles. |
| 4a. Identify the type of organizational structure for your organization and explain its effect on your team.
Weight: 10% |
Does not correctly identify the type of organizational structure and/or explanation lacks logic and supporting information.
Demonstrates inadequate understanding of organizational structure |
Correctly identifies the type of organizational structure; explanation lacks some logic or supporting information.
Demonstrates adequate understanding of organizational structure. |
Correctly identifies the type of organizational structure; explanation is mostly logical and includes some supporting information.
Demonstrates good understanding of organizational structure. |
Correctly identifies the type of organizational structure; explanation is clear, thorough and logical and cites specific supporting information.
Demonstrates excellent understanding of organizational structure. |
| 4b. Identify steps of the Human Resources Cycle that your HR team does well and poorly and explain the effect on your team.
Weight: 10% |
Does not explain and identify steps the HR team does well/poorly and/or does not explain the effect on the team logically or using supporting information.
Demonstrates inadequate understanding of human resources cycle |
Explains and identifies steps the HR team does well/poorly; explanation of the effect on the team lacks some logic or supporting information.
Demonstrates adequate understanding of human resources cycle. |
Explains and identifies steps the HR team does well/poorly; explanation of the effect on the team is mostly logical and includes some supporting information.
Demonstrates good understanding of human resources cycle. |
Explains and identifies steps the HR team does well/poorly; explanation of the effect on the team is clear, thorough and logical and cites specific supporting information.
Demonstrates excellent understanding of human resources cycle. |
| 4c. Identify the leadership style of yourself or your manager, the benefits and drawbacks of this style, and what you or your manager could do to improve.
Weight: 10% |
Does not identify leadership style and/or explanation lacks logic supporting information.
Demonstrates inadequate understanding of leadership styles. |
Identifies leadership style; explanation lacks some logic or supporting information.
Demonstrates adequate understanding of leadership styles. |
Identifies leadership style; explanation is mostly logical and includes some supporting information.
Demonstrates good understanding of leadership styles. |
Identifies leadership style; explanation is clear, thorough and logical and cites specific supporting information.
Demonstrates excellent understanding of leadership styles. |
| 5. Write in a professional manner using correct grammar and spelling and appropriate citations.
Weight: 10% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. Does not include citations or they do not allow the reader to locate the source. |
Writing is satisfactory.
Professional tone is developing. Shows moderate logic, clarity, and/or consistent formatting. May contain more than 2-4 spelling and/or grammatical errors. Includes citations but they may be inconsistently formatted or they do not easily allow the reader to locate the source.. |
Writing is mostly good.
Tone is professional. Shows logic, clarity, and consistent formatting. May contain few or no spelling and/or grammatical errors. Includes citations that allow the reader to locate the source. |
Writing is excellent.
Tone is professional and sophisticated. Shows logic, clarity, and consistent formatting. Contains no spelling or grammatical errors and work is cited consistently and so that the reader can locate the work cited. |
ASSIGNMENT 5 – Week 10
Competition: Market Research Manager Analysis
Due Date: Week 10
Note: While representative of possible situations faced by Target & Walmart, all scenarios in this assignment are fictional.
Real Business
As you learned this week, understanding your competition and adjusting your own business accordingly is critical to a business’s success. A large discount retail store like Target competes not only with other discount retail store stores but also with those stores that offer just some of the products Target does, such as grocery stores. Keeping track of all these competitors is quite a task; that’s why large companies have a team of market researchers dedicated to managing that research.
Your Role
This week, you’ll assume the role of a Market Research Manager at Target.
| What is a Market Research Manager?
Market Research Managers are responsible for creating and improving processes for gathering information on various market conditions, competitors, and consumer trends in their companies’ industries. They are typically responsible for managing a team of researchers and reporting their findings to the head of the department. Teams across the company then use these findings to help improve products, guide marketing efforts, and more. |
As a Market Research Manager, part of your role is to consistently analyze Target’s position relative to its competitors and report on these findings. As part of this process, you complete a SWOT analysis for each of Target’s main competitors each quarter. The quarter is coming to a close, and your boss has asked for the latest SWOT analysis for Walmart.
Instructions
Step 1: Research
Search online and find 1-3 articles that discuss the competition between Target and Walmart. For each article:
· Provide a link to the article.
· Identify which aspects of the article will be helpful as you conduct your SWOT analysis.
Step 2: Strengths
Based on your own experiences shopping at Target and Walmart and the research you conducted:
· Identify 1-2 strengths Target has in comparison to Walmart. For each strength, explain your rationale.
Step 3: Weaknesses
Based on your own experiences shopping at Target and Walmart and the research you conducted:
· Identify 1-2 weaknesses Target has in comparison to Walmart. For each weakness, explain your rationale.
Step 4: Opportunities
Based on your own experiences shopping at Target and Walmart and the research you conducted:
· Identify 1-2 possible opportunities Target has to be more competitive with Walmart. For each opportunity, explain your rationale.
Step 5: Threats
Based on your own experiences shopping at Target and Walmart and the research you conducted:
· Identify 1-2 possible threats that might diminish Target’s competitiveness with Walmart. For each threat, explain your rationale.
Step 6: Who will come out ahead?
Based on your SWOT analysis, do think that Target or Walmart is better positioned over the long term to come out ahead? Why?
Step 7: Real-World Application
Conduct a SWOT analysis for your company and one of its biggest competitors using the methodology outlined in Steps 1-4.
| Points: 55 | Assignment: Product and Operations – Category Manager Analysis | |||
| Criteria | Unacceptable
Below 70% F |
Fair
70-79% C |
Proficient
80-89% B |
Exemplary
90-100% A |
| 1. Find 1-2 related articles and identify what aspects of the articles will help with your SWOT analysis.
Weight: 20% |
Does not provide article(s), or provides article(s) but does not explain their relevance to the assignment.
Demonstrates inadequate understanding of SWOT research and analysis. |
Provides article(s); does not fully, rationally, and with adequate support explain their relevance to the assignment.
Demonstrates adequate understanding of SWOT research and analysis. |
Provides article(s); explains their relevance to the assignment. Explanation is mostly logical and supported by some information from the article(s).
Demonstrates good understanding of SWOT research and analysis. |
Provides article(s); thoroughly explains their relevance to the assignment using logic and specific information from the article(s).
Demonstrates excellent understanding of SWOT research and analysis. |
| 2. Identify 1-2 of Target’s strengths in comparison to Walmart and explain your rationale.
Weight: 10% |
Does not identify strengths, or identifies strengths but does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of SWOT research and analysis. |
Identifies strengths; does not fully, rationally, and with adequate support explain reasoning.
Demonstrates adequate understanding of SWOT research and analysis. |
Identifies strengths; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from the course, personal experience and/or article(s).
Demonstrates good understanding of SWOT research and analysis. |
Identifies strengths; thoroughly explains reasoning using logic, specific information from the course, personal experience, and article(s).
Demonstrates excellent understanding of SWOT research and analysis. |
| 3. Identify 1-2 of Target’s weaknesses in comparison to Walmart and explain your rationale.
Weight: 10% |
Does not identify weaknesses, or identifies weaknesses but does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of SWOT research and analysis. |
Identifies weaknesses; does not fully, rationally, and with adequate support explain reasoning.
Demonstrates adequate understanding of SWOT research and analysis. |
Identifies weaknesses; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from the course, personal experience and/or article(s).
Demonstrates good understanding of SWOT research and analysis. |
Identifies weaknesses; thoroughly explains reasoning using logic, specific information from the course, personal experience and article(s).
Demonstrates excellent understanding of SWOT research and analysis. |
| 4. Identify 1-2 possible opportunities Target has to be more competitive with Target and explain your rationale.
Weight: 10% |
Does not identify opportunities, or identifies opportunities but does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of SWOT research and analysis. |
Identifies opportunities; does not fully, rationally, and with adequate support explain reasoning.
Demonstrates adequate understanding of SWOT research and analysis. |
Identifies opportunities; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from the course, personal experience and/or article(s).
Demonstrates good understanding of SWOT research and analysis. |
Identifies opportunities; thoroughly explains reasoning using logic, specific information from the course, personal experience and article(s).
Demonstrates excellent understanding of SWOT research and analysis. |
| 5. Identify 1-2 possible threats that might diminish Target’s competitiveness with Walmart and explain your rationale.
Weight: 10% |
Does not identify threats, or identifies threats but does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of SWOT research and analysis. |
Identifies threats; does not fully, rationally, and with adequate support explain reasoning.
Demonstrates adequate understanding of SWOT research and analysis. |
Identifies threats; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from the course, personal experience and/or article(s).
Demonstrates good understanding of SWOT research and analysis. |
Identifies threats; thoroughly explains reasoning using logic, specific information from the course, personal experience and article(s).
Demonstrates excellent understanding of SWOT research and analysis. |
| 6. Determine which company – Target or Walmart – is best positioned to come out ahead in the long run and explain your rationale.
Weight: 10% |
Does not choose a company, or chooses a company; explanation lacks logic and/or supporting information from their SWOT analysis.
Demonstrates inadequate understanding of SWOT analysis. |
Chooses a company; does not fully, rationally, and with adequate support from their SWOT analysis explain reasoning.
Demonstrates adequate understanding of SWOT analysis |
Chooses a company; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from their SWOT analysis.
Demonstrates good understanding of SWOT analysis |
Chooses and company and thoroughly explains reasoning using logic and specific information from their SWOT analysis.
Demonstrates excellent understanding of SWOT analysis. |
| 7. Conduct a SWOT analysis for your company and one of its biggest competitors.
Weight: 20% |
Does not identify strengths, weaknesses, opportunities and threats, or does identify but does not explain rationale logically or use supporting information.
Demonstrates inadequate understanding of SWOT analysis. |
Identifies strengths, weaknesses, opportunities and threats; does not fully, rationally, and with adequate support explain reasoning.
Demonstrates adequate understanding of SWOT analysis. |
Identifies strengths, weaknesses, opportunities and threats; provides a clearly explained rationale. Explanation is mostly logical and supported by some information from the course and/or personal experience.
Demonstrates good understanding of SWOT analysis. |
Identifies strengths, weaknesses, opportunities and threats; and thoroughly explains reasoning using logic, specific information from the course, and personal experience.
Demonstrates excellent understanding of SWOT analysis. |
| 8. Write in a professional manner using correct grammar and spelling and appropriate citations.
Weight: 10% |
Writing does not meet minimal standards.
Tone is not professional. Lacking in logic, clarity, and/or consistent formatting. Contains many spelling and/or grammatical errors. Does not include citations or they do not allow the reader to locate the source. |
Writing is satisfactory.
Professional tone is developing. Shows moderate logic, clarity, and/or consistent formatting. May contain more than 2-4 spelling and/or grammatical errors. Includes citations but they may be inconsistently formatted or they do not easily allow the reader to locate the source. |
Writing is mostly good.
Tone is professional. Shows logic, clarity, and consistent formatting. May contain few or no spelling and/or grammatical errors. Includes citations that allow the reader to locate the source. |
Writing is excellent.
Tone is professional and sophisticated. Shows logic, clarity, and consistent formatting. Contains no spelling or grammatical errors and work is cited consistently and so that the reader can locate the work cited. |
| BUS 508 – Assignments and Rubrics |
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