for daisy
Cutsnak3
TopicsforRecommendationLongreport2.docxDuerden Fall 18
Topics for Recommendation/Long Report
Please note that assignment details and the oral report are on a separate handout.
This report takes the form of a recommendation report in most cases. Each of the topics asks you to consider some aspect of the way Millennials are changing our culture. If you choose to work alone, you will be doing all the work alone. You will probably be writing at least 1500-2000 words. If you work in a team, your individual portion will be about 750-1000 words and then you will work on the front and back matter as a team.
Background
According to a Goldman’s Sach’s report:
“One of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the ways we buy and sell, forcing companies to examine how they do business for decades to come. Millennials have been reluctant to buy items such as cars, music and luxury goods. Instead, they’re turning to a new set of services that provide access to products without the burdens of ownership, giving rise to what's being called a "sharing economy." Millennials’ affinity for technology is reshaping the retail space. With product information, reviews and price comparisons at their fingertips, Millennials are turning to brands that can offer maximum convenience at the lowest cost.”
· http://www.goldmansachs.com/our-thinking/pages/millennials/
You will find a great deal of helpful data on Millennials on the Pew Research Center site:
· http://www.pewresearch.org/topics/millennials/
· http://www.pewsocialtrends.org/files/2010/10/millennials-confident-connected-open-to-change.pdf
These sites also list some trends:
· http://www.billchamberlin.com/a-primer-on-millennials-list-of-25-research-reports/
· http://pager.net/wp-content/uploads/2014/02/LRS_MILLENNIAL_EBOOK_v5.pdf
· https://www.uschamberfoundation.org/sites/default/files/article/foundation/MillennialGeneration.pdf
You may work in groups as large as 4 people or you may work in groups of 2 or 3 or you may choose to work alone. You should pick one of these prompts.
1. For this project, you will work collaboratively (groups of 1-4) to research and write a formal report that provides “best practices” regarding how businesses in a specified market sector use specific social media (Snap, Facebook, Twitter, Instagram, etc.) to engage with the Millennials to promote their business in order to make recommendations to the owner who wants to open a new business in Tempe in that specified market sector. So you could compare the social media use of Hamburger Restaurants if the owner wants to open a new Hamburger place or Wood fired Pizza Restaurants if the owner wants to open a new Weed fired Pizza place or Vegetarian places if the owner wants to open a Vegetarian Restauarnt or sandwich stores or Fast Casual Dining or Farm to Table Dining or Videogame Stores or Coffee Shops or Used or Vintage Clothing Stores etc. If you work alone, you need to examine at least two businesses in that market. If you work in a team, each person should research one business in that market sector. You will use your research to compose a report comparing how businesses in that market sector use social media and then give recommendations as to which of those social media strategies will work best with Millennials. You will first need to describe the Millennial generation and the traits identified as belonging to that generation. Then analyze the social media of each business in that market sector you have chosen showing how the various strategies work well for this generation. Each member of the group should analyze the practices of one company in that specified market. Make sure that you each address the same criteria. Thus you are using the “yardstick approach” to comparing (285). You will want to focus on specific best practices and perhaps things to avoid.
You will work collaboratively (groups 1-4) to research and write a formal report that profiles One-for-One or Buy One Give One (B1G1) companies) to recommend which company the Millennial Investment Club should invest in (imagine each company is inviting investors to join them). Remember that BIGI companies are especially popular with Millennials. Think about the success TOMS shoes has had. In fact, Sarika Bansal in “Shopping for a better word” says “According to a recent study, 80 percent of Americans are likely to switch brands, if comparable in price and quality, to one that supports a social cause” (2012). You will find some helpful articles on this in the one-for-one folder under content. Read this article before you begin:
Each team member should profile one company. If you work alone you should compare two companies. Make sure that you describe the company and its history and success to date. Be sure to address any negative aspects of its one-for-one model. Your recommendation can be based on both profit and social good.
2. As writers for Millennial Rag, a business magazine like Forbes but which targets millennial readers, your managing editor has asked your team to help her decide which emerging company should be profiled in an upcoming issue. Compare emerging products like The Impossible Burger versus the Beyond Burger or Cricket Flour versus Coffee Flour or other products/services you have read about that are less than a few years old to see which company should be featured in an upcoming profile article for Millennial Rag. Each student should profile one company that is less than 8 years old so groups of 1-4. If you work alone, you may profile 1 or 2 companies. You should describe the company, what it does/its product(s), its history, its success to date, its future, and what makes it interesting or why a good subject for a magazine profile (yardstick approach 285). You may add any additional topics you think would be helpful but you must ensure that each student addresses the same topics for his or her chosen company. Note these should be new companies/new products that have interesting story to tell. They might well be companies that also support a social cause. This website might give you some ideas: http://allsharktankproducts.com
3. Your team will present a proposal to Whole Foods or Trader Joes that recommends they stock the product of one emerging company like The Impossible Burger or the Beyond Burger or Cricket Flour or Coffee Flour or other products/services you have read about that are less than a few years old. Each student should research one company that is less than 8 years old so groups of 1-4. If you work alone, you may research 1 or 2 companies. You should describe the company and the product, its sales to date, who it appeals to in the market, why it is timely to stock the product now, and other reasons why Whole Foods or Trader Joes should give valuable shelf space to stocking that product (use the yardstick approach so you compare the same aspects for each company). Consider who shops at the store you are pitching too and whether that product will appeal to that audience. You may add any additional topics you think would be helpful but you must ensure that each student addresses the same topics for his or her chosen company. Note these should be new companies/new products that have interesting story to tell. This website might give you some ideas: http://allsharktankproducts.com
4. Many progressive companies that emphasize Corporate Social Responsibility (CSR) – a business approach that considers the triple bottom line of profit, planet, and people – frequently outperform the market, often by a large margin and they are especially popular with younger people. See these articles.
· http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html
· http://www.businessnewsdaily.com/5499-examples-socially-responsible-businesses.html
The Millennial Investment Club (a group that targets young millennial investors) is interested in CSR companies for investment. After reviewing the security analysts’ reports and financial statements for several candidates, they have narrowed the list down to 2-4 companies (perhaps from the list mentioned in the article above or B Corp companies.
The assignment: The Millennial Investment Club has heard that your company conducts thorough detailed research before making a recommendation for an investment. As a team, you write an analytical report for the Millennial Investment Club. Set up a list of criteria by which you will compare 2-4 companies. Those criteria should include what makes this company attractive to Millennial investors. Each student will profile one company. If you work alone, compare 2 companies. You want to end on a recommendation for an investment. (group of 1-4 students. You may assume each company is seeking investors.
5. For 1-3 students. Pret a Manger is a very different kind of sandwich shop as this article explains:
· https://www.theguardian.com/business/2016/apr/23/new-yorkers-queuing-up-pret-a-manger
Unlike US sandwich chains like Port O Subs, these sandwiches are premade and therefore there is no customization. You buy the sandwiches ready made although the stores are constantly being restocked. The chain began in England and is now spreading to the US. Some of you may have eaten there when you have travelled. As you can see, this chain is quite unlike US chains. Currently the chain is owned by a private equity company but eventually hopes to go public with stock: http://uk.reuters.com/article/uk-pretamanger-ipo-idUKKCN0QE07V20150809
There will be an opportunity to invest in the near future.
The Assignment: Write a report for the Millennial Investment Club in which you analyze the chain explaining its history (https://www.pret.com/en-us/about-pret), where it began, reasons for its success including its use of teamwork and training along with its approach to food (1-3 students) and what makes it an attractive prospect for future investors as it explores the US market. You might also explore any negative issues it has faced. Recently it was involved in a law suit after a young girl with a severe allergy died after eating one of their sandwiches that was mislabeled.
Make an overall recommendation as to whether the Millennial Investment Club members should invest when the company goes public.
6. Much has been written about the Millennial generation and the impact it will have on the workplace from the physical layout of offices (open offices, hot desks phone booth offices, privacy enclaves or coding caves) to continuous reviews rather than annual reviews (see GE Touchpoints system):
· https://www.nbcnews.com/better/careers/7-ways-millennials-are-changing-workplace-better-n761021
· Why GE had to kill its annual performance review for sources
· 10 Workplace Trends You'll See In 2017
Each group member should select a workplace aspect that Millennials are affecting and research that topic. Then write a report for Millennial Rag on trends in the workplace being driven by Millennials and suggest which trend the magazine should focus on its upcoming issue and why. If you work alone, one trend will suffice if you go in depth. Make sure that you examine the same criteria for each trend (yardstick). Your conclusion should suggest why the trend you recommend for the upcoming issue is likely to have the most profound effects and perhaps last the longest.
7. Millennials are affecting businesses because they do not spend in ways that similarly aged groups have done in the past. Car manufacturers are worried that millennials are not buying vehicles but instead will take an Uber or Zip car. Home builders are trying to figure out what kinds of living spaces Millennials are willing to buy. Restaurants are trying to figure out what appeals to Millennials in terms of dining and ingredients. Hotel chains are redesigning their brands and rooms to meet Millennial desires. Cable TV is trying to find ways to fight the disruption caused by Millennials who don’t subscribe. This website http://www.millennialmarketing.com/research/ gathers some research on Millennials buying habits and may give you some ideas. Each group member should pick one aspect of our daily life such as grocery shopping, car buying, eating out, cooking, luxury brands, hotel brands, vacations, and so on and research that topic in terms of Millennials. Then write a report for Millennial Rag that examines the effects Millennials are having on various aspects of the consumer market and recommend which industry the MR should focus on in their 2018 special issue and why. In other words, which industry or aspect of our life is most changing as a result of Millennials. If you work alone, you should be able to focus on one aspect if you do it in sufficient depth. Make sure that you address the same criteria for each trend (yardstick approach). Conclude by suggesting which of these trends that you examined is likely to be the most profound and long lasting.
· https://www.theatlantic.com/business/archive/2016/11/millennials-groceries/506180/
· https://www.theatlantic.com/magazine/archive/2012/09/the-cheapest-generation/309060/
· https://www.theatlantic.com/business/archive/2016/08/millennials-the-mobile-and-the-stuck/497255/
· https://www.nbcnews.com/business/consumer/why-millennials-are-hooked-chain-restaurants-n768326
8. Much has been written about the Gig Economy. Some see this as positive while others feel the Gig economy is negative. Your consulting group has been asked to put together a comprehensive report on the Gig Economy in which you profile 2-4 companies for Millennial Rag. Each student should research one company or one trend in the Gig economy. For each company you profile, you should describe the company and the service offered, its history, its profitability and successes, its future, and positive and negative effects/outcomes/disruptive aspects of the company. You will need to define the term Gig Economy. Sources should include contemporary newspaper and business magazines and journals.
· http://www.pewinternet.org/2016/11/17/gig-workers-introduction/
· http://www.newyorker.com/magazine/2017/05/15/is-the-gig-economy-working
· http://www.newyorker.com/culture/jia-tolentino/the-gig-economy-celebrates-working-yourself-to-death
· https://www.nytimes.com/2017/04/10/opinion/the-gig-economys-false-promise.html
