Leaders need input, especially from stakeholders, to move ideas along. Having a unique, insightful product or service is just one step. Project outlines that include careful consideration of a company’s mission, opportunities, and risks can help ideas gain momentum and snowball in significance.
Scenario
Now that you have written a blog post identifying critical elements needed to support the rationale of your project, outlining specifics is key! These specifics will be used in an upcoming elevator pitch you will submit to senior management in Milestone One. Before management will approve exploring the idea for new opportunities and funding, they have key performance indicators (KPIs) you will need to address. Your goal for this assignment is to provide an outline that strongly, yet carefully, presents an argument to move your concept forward.
Prompt
Using MarketLine, Yahoo Finance, and the company’s investor relations webpage, continue your investigation of the company you selected in your Module One blog post. Specifically, look at the company’s profile, financials, and SWOT analysis.
Using speculative strategies, articulate your thoughts. Remember, success may mean revenue to a for-profit business; however, to a non-profit, it may mean a specific outcome, such as donor retention rate, social media engagement, or email open rate.
Draft a project outline that presents a prospective timeline and targeted customer segment of your project. This project outline is a precursor to Milestone One: Elevator Pitch. The KPIs you need to consider and address in your outline are:
• The intended customer: Describe the intended customer or customer profile for the new product or service.
• Opportunities in the market: Explain the opportunities in the market based on your research.
• The financial opportunity: Assess the financial opportunity that the project presents for increasing cash flow and topline revenue.
o Can it be cash flow positive and profitable? For example, Zappos donates a pair of shoes for every pair of shoes sold. This leads to profit in the long run due to good CSR and company image, but is not immediately profitable.
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Leaders need input, especially from stakeholders, to move ideas along
Full Answer Section
Our target customer base encompasses two key segments:- Eco-conscious Consumers:Individuals who actively seek out environmentally friendly products and brands that prioritize sustainability.
- Gen Z and Millennial Consumers:These demographics are increasingly concerned about environmental issues and value companies that demonstrate social responsibility.
- Rising Consumer Demand:Consumers are increasingly demanding sustainable packaging solutions.
- Environmental Regulations:Governments worldwide are implementing stricter regulations on plastic use and waste disposal.
- Investor Pressure:Investors are increasingly favoring companies with strong environmental, social, and governance (ESG) practices.
- Cost Savings:Reduced dependence on traditional, potentially rising-cost materials like plastic.
- Increased Brand Loyalty:Aligning with consumer values can attract and retain eco-conscious customers.
- Improved Brand Image:Positive publicity and association with sustainability can enhance brand reputation.
- Month 1-3:Market research and competitor analysis to identify best practices in sustainable packaging.
- Month 4-6:Evaluation of potential sustainable packaging materials and suppliers.
- Month 7-9:Pilot program with a limited product range to test consumer response and cost-effectiveness.
- Month 10-12:Full-scale implementation of sustainable packaging across all product lines.
- Increase in sales from environmentally-conscious customers.(Measured through customer surveys and targeted marketing campaigns)
- Reduction in packaging waste generated.(Monitored by tracking material usage and waste disposal data)
- Positive brand sentiment associated with sustainability efforts.(Tracked through social media monitoring and customer satisfaction surveys)
Sample Answer
Project Outline: Sustainable Packaging Initiative (Company: XYZ Corporation)
Introduction:
This project outline proposes the implementation of a sustainable packaging initiative for XYZ Corporation. This initiative aims to reduce the environmental impact of our packaging while potentially boosting brand image and customer loyalty.
Intended Customer:
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