Reference no: EM132832522

Scenario

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. Based on your knowledge of the national sales landscape, your manager would like you to conduct preliminary research and present your recommendation for opportunity in a new industry that will allow for this diversification through a new sales division and increased sales. You have been asked to make your presentation at the next stakeholder meeting, where you will address internal stakeholders from across the company as well as external stakeholders such as customers, investors, and suppliers.

For this journal entry, you will select the new industry that you think would be a good fit for your company. This journal will be graded pass/fail based on completion. In your journal, respond to the following questions:

1. Discuss why your company should consider diversifying into your selected industry.
2. Prior to doing your research and analysis, what are your thoughts about how your company could expand to take on this new industry?
3. What questions do you have regarding where to get the information and data required for the projects?
4. Do you think this industry will have adequate data available for your research and data collection?