Reference no: EM133479848

Assignment:

1. How should Daniel Patterson communicate his decision to hire Lori Danks to the Paradise management team, and to Tim Halverson (e.g. what should he say, who should he speak to first, etc.)?

2. Is there additional information you would try to collect before sharing your decision with management?

3. How would you address the possible concerns of the management team regarding her salary and equity requirements?

4. Outline a process for how Patterson will deliver the sensitive news that Paradise is being sold to Panera Bread, its biggest rival and competitor.

5. Develop a communication plan that anticipates stakeholders' questions and concerns remarks should be specific to each audience and how you will make the announcement (email, newsletter, meeting, etc.).

6. Develop an action plan for how you, as Patterson, would address the recession's impact on Paradise Bakery. Think through the array of options (drastic operational cuts, renegotiating the terms of the deal, etc.) within the context of the Panera acquisition and the terms of the earn-out. Be prepared to speak to the potential concerns of the different stakeholders who are affected by your decisions. Also, be sure to address the long-term implications of your approach.