Archive for category: Business paper

This is a paper that is focusing on the different forecasting applications at Hard Rock Cafe. The paper also provides a brief description of the case scenario of the company in the paper.

The different forecasting applications at Hard Rock Cafe

Background
With the growth of the Hard Rock Café franchise—from one pub in London in 1971 to more than 129 restaurants in more than 40 countries today—came a corporate-wide demand for better forecasting. Hard Rock Café uses long-range forecasting in setting a capacity plan and intermediate-term forecasting for locking in contracts for leather goods (used in jackets) and for such food items as beef, chicken, and pork. Its short-term sales forecasts are conducted each month, by cafe, and then aggregated for a headquarters view.

The heart of the sales forecasting system is the point-of-sale system (POS), which, in effect, captures transaction data on nearly every person who walks through a cafe’s door. The sale of each entrée represents one customer; the entrée sales data are transmitted daily to the Orlando corporate headquarters’ database. There, the financial team, headed by Todd Lindsey, begins the forecast process. Lindsey forecasts monthly guest counts, retail sales, banquet sales, and concert sales (if applicable) at each cafe. The general managers of individual cafes tap into the same database to prepare a daily forecast for their sites. A cafe manager pulls up prior years’ sales for that day, adding information from the local Chamber of Commerce or Tourist Board on upcoming events such as a major convention, sporting event, or concert in the city where the cafe is located.

Scenario continuation in the attachment.

Requirement

Using the information about Hard Rock Café provided, write a report that addresses the following areas:
Firstly, describe three different forecasting applications at Hard Rock Cafe, and why you think they are the way they are. Name three other areas in which you think Hard Rock could use forecasting models.

Secondly, the role of the POS system in forecasting at Hard Rock Cafe.

Thirdly, justify the use of the weighting system used for evaluating managers for annual bonuses.

Fourthly, name several variables besides those mention in the case that could be as good predictors of daily sales in each cafe.

Lastly, at Hard Rock Cafe’s Moscow location, the manager is trying to evaluate how a new advertising campaign affects guest counts. Using data for the past 10 months (see the table). Develop a least squares regression relationship and then forecast the expected guest count when advertising is $65 000.

For your Signature Assignment, write a literature review of the information regarding a topic in your business specialization of your choosing. Be sure to include the following in your submission:

A topic in your business specialization of your choosing

For your Signature Assignment, write a literature review of the information regarding a topic in your business specialization of your choosing. Be sure to include the following in your submission:

A brief overview of the topic you chose that addresses the following:

Explain how your topic is a business trend and why you chose this topic.
Indicate how your topic relates to your business specialization and why further study is important.
Assess how your topic relates to ever-evolving technology and its use in business.
A literature review that addresses the following:

Explain the basis of seminal theories of research concerning this business trend and who created the theories.
Analyze the evolution of at least two theories and the business trend (scholar and practitioner).
Synthesize the current research regarding the business trend, including current theories and practices associated with the trend.
Summarize your findings regarding this business trend and determine whether this is a topic you would consider for your dissertation. Then, briefly explain why and provide examples, if appropriate.
Length: 12-15 pages, not including title or reference pages

References: Include a minimum of 7 scholarly resources

In the first section, do some research to identify an organization that has recently experienced acquisition, merger, or restructuring as discussed in the course materials. Briefly describe the action (e.g., acquisition, merger, restructuring) including an evaluation of why it occurred and the outcome (e.g., is it working? Is it accomplishing what was expected?). This first section only needs to be one or two paragraphs.

Organization that has recently experienced acquisition merger

This discussion assignment has three parts. You should use brief headings to separate your post into the three sections.
In the first section, do some research to identify an organization that has recently experienced acquisition, merger, or restructuring as discussed in the course materials. Briefly describe the action (e.g., acquisition, merger, restructuring) including an evaluation of why it occurred and the outcome. (E.g., is it working? Is it accomplishing what was expected?). This first section only needs to be one or two paragraphs.

For the second section, select one of the following bullet point topics.

If someone has already posted on one of the bullet points, select another one until all the bullet points are used so that we can discuss several different relevant topics. Once all the bullet points have been addressed, then you may begin to reuse the bullet points with the expectation that varied responses continue. The second section of your post only needs to be one or two paragraphs.

Of the many reasons discussed in your readings for making acquisitions, the rationale that may be the strongest is that acquisitions allow firms to capture new capabilities. Additionally, From among the other reasons for making an acquisition listed in the readings. Choose the one that you think provides the strongest rationale for making an acquisition. Lastly, Defend your choice with research and provide appropriate examples.

Similar to the previous bullet point, choose a reason for making an acquisition that you think provides the weakest rationale. Defend your choice with research and provide appropriate examples.

As noted in the course lecture, mergers and acquisitions are similar strategic moves.

Evaluate some of the reasons that an organization might choose one option (merger or acquisition) over the other. Defend your reasons with research and provide appropriate examples.

Evaluate when restructuring can be seen as a positive business strategic move. In your response, be sure to analyze how shareholder value is created through restructuring. Finally, Defend your reasons with research and provide appropriate examples.
The final section or paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.

In this assignment, you are to use the same corporation you selected and focused on for Assignments 1, 2, and 3.
Consider the corporation you have selected to use in your first three assignments.

Use the same corporation you selected and focused on for Assignments 1 2 and 3

1.            In this assignment, you are to use the same corporation you selected and focused on for Assignments 1, 2, and 3.
Consider the corporation you have selected to use in your first three assignments.
Research the company on its own website, the public filings on the Securities and Exchange Commission EDGAR database, the University’s online databases, the Nexis Uni database, and any other sources you can find. The annual report will often provide insights that can help address some of these questions.
You will do a 15-minute presentation to the Board of Directors of the corporation. Develop an eight- to twelve-slide PowerPoint presentation with speaker notes based upon Assignments 1 through 3.

Requirements:

Determine the impact of the company’s mission, vision, and primary stakeholders on its overall success as a competitive employer in the industry.

Firstly, Create a SWOT analysis for the company to determine its major strengths, weaknesses, opportunities, and threats.

Secondly, Based on the SWOT analysis, outline a strategy for the company to capitalize on its strengths and opportunities, and minimize its weaknesses and threats.

Thirdly, Discuss the various levels and types of strategies the firm may use to maximize its competitiveness and profitability.

Fourthly, Outline a communications plan the company could use to make the strategies you recommend above known to all stakeholders.

Further, Assess efforts by this corporation to be a responsible (ethical) corporate citizen and determine the impact these efforts (or lack thereof) have on the company’s bottom line. Provide specific examples to support your response.

Additionally, Develop an executive-level PowerPoint presentation with 8–12 slides with speaker notes and appropriate graphics or professional video.

Further, Go to Basic Search: Strayer University Online Library and locate at least three quality references. Note: Wikipedia and similar Websites do not quality as academic resources.

Additionally, References must be submitted on a Works Cited page using SWS format.

Use the Assignment 4 Template [PPTX] to ensure that your assignment meets the above requirements.

The specific course learning outcome associated with this assignment is as follows:
Firstly, Develop a corporate presentation based on a SWOT analysis, strategies for maximizing competitiveness and profitability, a communications plan, and an assessment of efforts related to ethics.
Grading for this assignment will be based on answer quality, logic and also organization of the paper, and language and writing skills, using the scoring rubric.
2.            By submitting this paper, you agree:
(1) That you are submitting your paper to be used and stored as part of the SafeAssign™ services in accordance with the Blackboard Privacy Policy;
(2) That your institution may use your paper in accordance with your institution’s policies; and
(3) Finally, that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates.

A company, namely, XYZ Company, is a manufacturer that produces skincare and hair care products like face creams and shampoos. This company does not engage in direct selling of its products to final customers but sells indirectly through retailers.

A company namely XYZ Company is a manufacturer that produces skincare

Read the following Case Study and write an essay on the question following:
MG206 Case study: New Product Failure
The following is a hypothetical marketing related case study:

A company, namely, XYZ Company, is a manufacturer that produces skincare and hair care products like face creams and shampoos. This company does not engage in direct selling of its products to final customers but sells indirectly through retailers.

Romy is the Head of the Marketing Department of this XYZ Company. Together with her marketing department staff, she came up with a new product idea of herbal based face cream that not only hydrates the skin but also gives it a lighter complexion and gets rid of pimples within a week without leaving any scar on the face.

Romy discussed this new face cream product idea with Pita, who is the Head of Research and Development department. Pita was interest ed and remark ed that this could be a profitable product. He then decided to create one sample using the herbal ingredients mentioned by Romy.

Upon the creation of the first sample and lab testing it for its texture and packaging, Romy and Pita presented the sample to the company CEO, who suggested that fifty samples be produced and tested with the company’s staff who were willing to participate in the testing of the product.

Upon sample creation, fifty staff willingly volunteered to test the product by using it for a week.

The test within the company appeared successful with positive feedback. The XYZ Company then proceeded to mass-produce the product to commercialize or introduce the product to its target market customers. In so doing, the company engaged retailers like pharmaceuticals companies, stores, and supermarkets across the country. Initially, all went well, with sales picking up fast within the first two months and more orders being placed by retailers given heavy promotional efforts on TV, newspapers, and social media.

However, after six months of product introduction, complaints began to flow in. Customers began to complain that upon using the product every night for three months continuously, they started feeling skin irritation, some even complained about burning sensation with acne breakouts. On top of this, the Food and Drug Association also blamed the company for not seeking its approval before introducing the product in the marketplace.
All complaints were referred to the XYZ company’s Public Relations Officer, who began drafting a formal response to customers via various forms of media. Romy, as well as Pita, were also assigned to look into the matter to find out what went wrong.

Case Study Essay Question – 25 Marks: 2000-2500 words

Using your marketing knowledge, write an essay, critically evaluating the case study. In your write-up, elaborate on the factors leading to customer complaints and the failed new product. In addition, make meaningful suggestions on what you would do if you were the company’s Public Relations officer. Also, suggest specific strategies to ensure that the same problem does not reoccur in the future. Conclude your essay with lessons learned from the case study (25 Marks). PRESCRIBED TEXTBOOK is ‘Principles of Marketing’ by Philip Kotler & Gary Armstrong 17th Edition (chapters 1;3;5;6;7;8;9;10;12;15;16)