Diversification Strategy

Competency
In this project, you will demonstrate your mastery of the following competency:
Communicate professionally to diverse internal and external audiences
Scenario
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.
Directions
Complete the Project Four Worksheet in your Soomo webtext and submit it for instructor feedback.
Construct an External Press Release
Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner
Constructs an external press release that addresses the key points appropriate for external audiences
Shows progress toward proficiency, but with errors or omissions; areas for improvement may include inappropriately addressing external audiences
Does not attempt criterion
30
What the Decision Was
Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner
Summarizes the decision appropriately for external audiences

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 using the provided templates, or the document you downloaded from Soomo. Sources should be cited according to APA style.
Supporting Materials
The following resources support your work on the project:
Project Four Template Word Document
Project Four Rubric
 
Uses citations for ideas requiring attribution, with few or no minor errors
Uses citations for ideas requiring attribution, with consistent minor errors
Uses citations for ideas requiring attribution, with major errors
Does not use citations for ideas requiring attribution