Instructions
In module six you benchmarked a product, process or operation of Nathan’s and developed three to five proposed changes for Nathan’s management to consider. In this module, you will prepare a formal report that will be presented to a business executive. Before reading the specifics of the report, keep these things in mind:
- Your report must be submitted to the executive (with me copied)at least 24 hours prior to the presentation.
- The report and PowerPoint slides should be submitted to this Dropbox prior to the presentation.
- Your grade for content in this module will be given by the executive.
Following are guidelines when creating the report.
- As you write your report you need to think like a journalist. Make certain you have a clear understanding of your audience (the executive), and the purpose of the report. The title of the report should clearly state that purpose.
- In the first paragraph you will describe the purpose in more detail. Also in the first paragraph you will describe the various goals of the report.
- In the second paragraph describe any background items that are relevant to each of the goals listed in paragraph one. For this, you should talk briefly about the deficiencies in the existing product or process. You should also mention any new or existing requirements or regulations that impact our current techniques such as environmental or safety regulations. You should also talk about existing techniques describing any portions of the process that are working well and which ones are in need of improvement.
- The third section of the report should discuss the potential remedies you are suggesting. During your benchmark study you identified significant differences between your activities and those of the benchmark company. It is here that you will make specific recommendations for improvements in the company. Be sure to clearly spell out the reasons for each recommendation and what changes you see in the future as a result of those recommendations. Be sure to identify also potential problems that could result from the adoption of your recommendation.
- The final section is a summary of the entire report. In this section, you will combine the goals and the potential remedies. It is critical that this section be concise and to the point, but at the same time, inform the executive of the problems addressed and the potential solutions proposed.
- Remember to keep the entire report short and to the point. Many middle managers are saddened to find that, when they send a lengthy report to the supervisor, it often goes unread. How long is too long depends on the company. In an actual situation you would discuss the length and format of reports with your immediate manager. For our report, I would recommend that it be no longer than 1500 words. Anything longer than that would require an executive summary. Remember, however, that when an executive summary is provided that is often the only part of your report that is read.This requirement for a short report is a mixed blessing. Remember, that while the report should be short, it should contain all the details necessary to inform the executive. For that reason, you must learn to write concisely and stick to relevant points.
- Your presentation will be made to the executive who has agreed to hear your arguments. As stated when forming your teams, every effort should be made to attend this presentation; a minimum of two team members are required to attend. If you are one that does not attend, you must submit compelling documentation about why you cannot attend and also agree to accept the grade your team members earned on your behalf. The presentation should be no longer than 15 minutes. Your presentation should:
- describe your company and the problems you are addressing
- briefly describe your research techniques and then describe in detail the results of your benchmarking study.
- Include the three most significant recommendations you proposed in module six. Remember, the goal is both to inform and persuade.
- There are many resources online about giving great presentations and presenting to executives. Prepare attractive, yet easily readable, PowerPoint slides. Some people may not see well so make sure your slides contain large enough text. Remember that you are presenting to an executive, not a group of classmates or family. What might be funny to one group might be unprofessional in another. LearnFree.Org recommends the following for PPT presentations:
- Don’t read from the slides.
- Follow the 5/5/5 rule (No more than five words per line, no more than five lines per slide, no more than five text heavy slides in a row). Be sure to use graphs, pie charts, bar charts, etc. when appropriate to highlight financial data.
- Adapt the presentation to your audience, the executives of Nathan’s. Don’t tell them things they already know.
- Choose readable colors and fonts.
- Don’t overload your presentations with animations.
- Use animations sparingly to enhance your presentations.
I benchmarked Nathan’s Famous’ marketing, promotion, and advertising efforts. The benchmark company is McDonald’s. the recommendation is:
1- Reinvent established, successful products to breathe life and employ nostalgia. (Adult happy meals).
NATH:
1- Frisch’s to serve Nathan’s Famous hot dogs all July long – https://www.cincinnati.com/story/entertainment/2022/06/28/frischs-nathans-famous-hot-dogs-july/7759258001/
2- Nathan’s Famous just released a limited-edition beer – https://www.timeout.com/newyork/news/nathans-famous-just-released-a-limited-edition-beer-091622
3- It’s not July 4th without Nathan’s hot dog eating contest – https://www.npr.org/2022/07/05/1109779546/its-not-july-4th-without-nathans-hot-dog-eating-contest
4- Nathan’s Famous Debuts New Spicy Asian BBQ and Slaw Menu Options – https://www.fastfoodpost.com/nathans-famous-debuts-new-spicy-asian-barbecue-and-slaw-menu-items/
5- Nathan’s Famous Partners With Let us Nudge in 15 Locations Across the U.S. – https://www.delimarketnews.com/well-paired/nathans-famous-partners-let-us-nudge-15-locations-across-us-phil-mccann-and-rehan-khanzada-discuss/melissa-de-leon-chavez/fri-04152022-0847/13403
6- Nathan’s Famous upgrades tech, adds geotargeting and digital ordering – https://www.marketingdive.com/news/nathans-famous-upgrades-tech-adds-geotargeting-and-digital-ordering/575682/
7- Look at 10-K page 16 – Marketing, Promotion and Advertising
McDonald’s:
1- McDonald’s taps ‘Black Panther’ for its latest marketing campaign – https://www.nrn.com/quick-service/mcdonald-s-taps-black-panther-its-latest-marketing-campaign
2- Off the Menu: McDonald’s test marketing Krispy Kreme doughnut connection – https://www.masslive.com/food/2022/11/off-the-menu-mcdonalds-test-marketing-krispy-kreme-doughnut-connection.html
3- McDonald’s Boosts Sales by Flexing Marketing Muscles – https://www.qsrmagazine.com/fast-food/mcdonalds-boosts-sales-flexing-marketing-muscles
4- McDonald’s double dips on nostalgia with ‘Farewell Tour’ for McRib – https://www.marketingdive.com/news/mcdonalds-McRib-Farewell-Tour-fast-food-marketing/634897/
5- The McDonald’s Gaming Chair Is Practically a Whole Promo Kit in One – https://magazine.promomarketing.com/article/the-mcdonalds-gaming-chair-is-practically-a-whole-promo-kit-in-one/
6- McDonald’s adult happy meal mayhem shows America’s selfish need for nostalgia right now – https://fortune.com/well/2022/11/13/mcdonalds-adult-happy-meal-mayhem-nostalgia-craze/
7- As prices soar, consumers turn to McDonald’s – https://www.cnn.com/2022/10/27/business/mcdonalds-prices/index.html
8- Overwatch 2 Teams Up With McDonald’s In Limited Time Promo, Unlock An Epic Tracer Skin – https://www.nintendolife.com/news/2022/10/overwatch-2-teams-up-with-mcdonalds-in-limited-time-promo-unlock-an-epic-tracer-skin
9- Does McDonald’s still have Halloween buckets? https://www.hitc.com/en-gb/2022/10/26/does-mcdonalds-still-have-halloween-buckets/
10- Why Does McDonald’s Continue to Advertise? https://info.zimmercommunications.com/blog/why-does-mcdonalds-continue-to-advertise
11- McDonald’s Marketing Strategy – A Case Study – https://www.simplilearn.com/tutorials/marketing-case-studies-tutorial/mcdonald-marketing-case-study
