You are the sales department manager for a U.S.-based company that builds engines for the automotive manufacturing industry. Your company is considering diversifying into other business opportunities where your motors can be sold in order to bolster the company’s portfolio and increase revenue.
Automotive manufacturing diversifying into the motorcycle company. Please see attached template.
Your presentation to stakeholders was wildly successful and the company has determined that it is in their best interest to move forward with the diversification strategy you recommended. Since you did so well with the presentation, you have been asked by company leadership to prepare a draft of the press release that will go out to announce this new strategy. Your press release is meant for the external audience that was not represented at the all-stakeholder meeting: a group that includes customers, vendors, suppliers, and the general community.
Using the template provided in the supporting materials section below, draft a press release that reflects your company’s new venture and how it affects the general external audience. Your press release should address the following rubric criteria:
- Address the key points appropriate for external audiences.
- Summarize the diversification decision.
- Explain why the decision was made.
- Explain where in the marketplace the new products are launching.
- Identify who benefits from this product in both the company and the community.
What to Submit
To complete this project, you must submit your completed press release template of 1 to 2 pages. Sources should be cited according to APA style.