– Assessment: Comparing Leadership Models
Purpose:Apply theories about leadership, structure, and culture to real-world scenarios that have occurred in various organizations. You will be measured on how you narrate various leadership styles to foster innovation and lead change in a dynamic environment. Use the chart you created in Week 3 as a quick reference as you work.Review the following case from Organizational Behavior (ATTACHED FILE)In 780- to 1050-words, do the following:
Globalization is an emerging force in business today. Read the
Question Globalization is an emerging force in business today. Read the case study about “Globalization and The Coca-Cola Company” located in the Reading Assignment In Section 3.4, the text discusses the “Top 5 Challenge Trends” and “Top 5 Solution Trends.” Select one challenge and one solution trend which you believe is most applicable to Coke’s situation today. Describe how these trends apply to Coke. In Section 3.3, read about the five building blocks of a Learning Organization. Which one of the five building blocks should Coke focus on to capitalize on the trends you selected. Why?
How have you seen projects used in your company, organization,
Question How have you seen projects used in your company, organization, or personal life? What methods of project management does your company use? Do they work?
Recognizing organizations may have a number of different needs, there
Question Recognizing organizations may have a number of different needs, there are many projects to consider. How are projects selected? Why do you think it is important to evaluate potential projects before proceeding with implementation?
Relax (Boston): Innovating and Growing an Entrepreneurial Business style=”color:#000000;”>On a
Question Relax (Boston): Innovating and Growing an Entrepreneurial Business style=”color:#000000;”>On a sunny morning in late August 2017, Janet Francis, founder and chief executive officer of Relax, pulled her car into the parking lot of a retail center in Cambridge, Massachusetts. Susan LaClaire, Relax Boston’s north district manager, was in the passenger seat. After donning hardhats, Francis and LaClaire took a quick tour, consulting with the project manager about the work that would ready the unit for a planned September 2017 opening. They then set out for the nearest Relax location in Belmont, 15 minutes away. They hoped to visit four of the 20 Boston-area locations that day to observe operations and drop off brochures that detailed Relax’s newest member promotion. Relax was a regional player in the $16 billion U.S. massage-services industry, which had seen annual revenue growth of over 7% from 2012 to 2017 and profit margins of 10%.1The industry comprised three segments: therapeutic massage services, nontherapeutic massage services, and other products and services. Therapeutic massage services, from which Relax derived most of its revenues[SAAk1] , accounted for just over half of the industry’s revenues. Increased disposable income and a focus on active lifestyles and wellness had created favorable conditions for the industry. In 2016[SAAk2] , an estimated 51 million adults, or 22% of the U.S. adult population, had received at least one massage.2 Over 90% of all massage therapists were solo practitioners. Therapeutic massage, which involved techniques designed to relieve pain and stimulate healing, was practiced in medical offices and clinics as well as in provider locations and client homes. Nontherapeutic massages such as aromatherapy and Thai massage were generally practiced in massage and spa salons. A few larger players had emerged. Massage Envy, with over 1,100 U.S. locations, was the U.S. market leader, with 5.1% market share. 1 Jonathan DeCarlo, “IBISWorld Industry Report OD6028: Massage Services Industry in the US,” May 2017 p. 3. IBISWorld. 2 Ibid., p. 6. ________________________________________________________________________________________________________________ Harvard Business School Professor Emeritus Paul W. Marshall and Brandeis University Senior Lecturer Carole Carlson prepared this case solely as a basis for class discussion and not as an endorsement, a source of primary data, or an illustration of effective or ineffective management. Although based on real events and despite occasional reference to actual companies, this case is fictitious and any resemblance to actual persons or entities is coincidental. Copyright © 2018 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business Publishing, Boston, MA 02163, or go to www.hbsp.harvard.edu. This publication may not be digitized, photocopied, or otherwise reproduced, posted, or transmitted, without the permission of Harvard Business School. 918-523 | Relax (Boston): Innovating and Growing an Entrepreneurial Business The Work before Relax Francis received a BA from the School of Hotel Administration at Cornell University. After Cornell, she worked at a major hotel company, holding positions in brand management, hotel operations, franchise operations, and finance. She then received her MBA from Harvard Business School (HBS) in 2000. After HBS, she joined another large hotel company as a regional director of spa operations and was rapidly promoted to U.S. spa director. In this role, she had profit and loss responsibility and directed entrepreneurial growth within the company. She established new lines of business within the spa division and developed new concepts and vendor initiatives. After five years there, Francis became a consultant and adviser to spa and hospitality companies and at the same time began assessing whether to launch her own company. “I saw an opportunity for a branded massage brand and thought my background made me well-positioned to launch it.” Leveraging personal resources and a small inheritance, she incorporated and identified the first retail location for what would become the Relax chain in Wellesley, Massachusetts, an affluent Boston suburb. The first unit opened in November 2007, just in time to take advantage of the market for holiday gift certificates. Francis conceived Relax as an affordable luxury that would be more accessible than other massage services. Instead of encouraging customers to come for a half day of relaxation with spa services, Relax initially offered just a few types of massage in high-visibility storefront locations with easy parking. It attracted new customers with a low introductory price (first-time customers paid only $59 for an hour- long massage) and the perception of a high-quality service. Unlike most rival spas, which provided a luxurious environment where customers would linger in robes in waiting rooms with soft music, dimmed lighting, and spa aromas, Relax provided a simple offering that enabled customers to come and go within an hour. Relax hired licensed massage therapists with strong therapeutic massage skills and orientations toward good customer service. According to Francis, “My inspiration was Starbucks, which offers the perception of a customized luxury experience, but within tight bounds and easy for the consumer to access. I admire how it has expanded without compromising the brand.” Growing the Business Relax rode a wave of increased focus on health and wellness among its target customers: affluent 45- to 65-year-olds living in upscale suburban locations. In this respect, the chain distinguished itself from Massage Envy, which had targeted urban locations and a younger demographic. Strong execution benefitted Relax. The Wellesley location was cash-flow positive within six months, enabling Francis to open a second unit in a storefront in affluent Belmont, followed by a new location in a lifestyle center3 in suburban Burlington, Massachusetts. She realized that branded services, effective local marketing, parking access, and service quality all drove store traffic. It quickly became clear that her sweet spot was a 1,600 to 1,800 square foot retail unit with street access, ample parking, and room for 10 to 12 treatment rooms, a small lounge, and a front reception area. In 2009, Francis opened another three units in Boston’s suburbs, followed by six units in 2010. With 12 units operating and strong financial performance, she attracted an equity investment from a group 3 A lifestyle center is a shopping center or a mixed-use commercial development that combines the traditional retail functions of a shopping mall with leisure amenities oriented toward upscale consumers. 2 BRIEFCASES | HARVARD BUSINESS SCHOOL This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. Relax (Boston): Innovating and Growing an Entrepreneurial Business | 918-523 of angel investors led by a former classmate, and she sold 25% of the company for $1.75 million, giving her additional resources to expand. With these funds, she hired her first director of real estate, Daniel Elder, an experienced shopping mall leasing agent and former developer who had strong connections with mall developers in the Northeast. She had discovered while leasing the Burlington unit that she had a compelling offering for retail mall developers who wanted to drive traffic to their centers. Relax placed more than two-thirds of its additional units in this category. Elder also used his industry contacts to help Relax expand to Philadelphia, Washington, DC, and suburban New York, adding six to nine new units annually between 2012 and 2016. In all, there were 55 stores in the Relax chain by the end of 2016. Francis also moved to a membership model. She noted, “Most spas and massage providers use a pay-as-you-go model, but I saw a lot of potential if we had consumers pay upfront for services. It would fund expansion and keep our clients loyal and committed to returning monthly.” Relax charged $90 for an individual massage, but it offered clients who used its services frequently discounted annual memberships for $720 and monthly memberships (charged to the clients’ credit cards) for $70 per month ($840 per year.) Membership entitled the client to one regular-length massage or alternate service per month. Customer research had shown that members were likely to visit twice as often as nonmembers did. Relax retained more members than most of its competitors did. According to Elder, The membership model funded our expansion. Five hundred annual memberships at a new store gives us half the cash to lease and build out the next store. Monthly memberships also provide predictable cash flow, so we can build out quickly and without using debt. The memberships also encouraged customers to try other services. Gayle Larson, director of sales and marketing, noted, “Customers who might not normally try a facial or guided stretch experience purchase these services, enjoy them, and recommend them to others.” In addition, providing these services was less expensive because of reduced requirements for employee training and licensing. Branding Relax Francis commented, “I really loved having the opportunity to build this brand from the ground up.” Her hotel experience gave her strong beliefs about what would create value for customers. By retaining the spa feel via color, aroma, and sound, she could convey a luxury brand while offering less elaborate services. “The other thing that was really important was cleanliness. We needed to convey this aspect very clearly. Spa customers will not tolerate the feeling that their experience is not sanitary.” Francis also reflected on Relax’s brand promise: I wanted to get big fast for several reasons. First, creating a market for a branded service required real presence in a market. I was also wary of franchising, even if my competitors had expanded that way. We didn’t need the cash, and I value the control because I didn’t want to take chances with the brand, so we stayed wholly owner- operated. Starbucks was once again my inspiration. It has limited external ownership to keep the brand crisp. We might consider going the franchise route if we decide to get ten times larger. Relax set out to create a strong brand that would have national recognition. Larson noted, “We manage our choice of colors, logos, advertising, and customer experience to create a foundation for HARVARD BUSINESS SCHOOL | BRIEFCASES 3 This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. 918-523 | Relax (Boston): Innovating and Growing an Entrepreneurial Business growth so that guests know exactly what to expect.” Larson also saw this standardization as important for overcoming the reputation of some storefront massage services. Relax used print and radio advertising in its target markets, as well as targeted leaflets and discount coupons to promote new openings. The brand team pursued creative ways to get media exposure by providing well-signed massage tents at sports events (like the Head of the Charles rowing races) and encouraging local media to interview athletes while on the massage table. Relax set up massage stations at contentious union negotiation locations and political debates, gaining extensive free media exposure. It promoted with local adult-oriented sports associations such as the Rippers, a Boston-area cycling club. Its visible, well-lit storefronts with distinctive signage also aided customer awareness. One thing that put Relax on the map was a print ad campaign that started in the spring of 2016. This campaign, rolled out by location to match the presidential primaries, speculated on what would happen if the candidates could “just relax.” The campaign continued through the presidential election. The more contentious the election became, the more impact it seemed to have. Larson added, We thought we would just use this campaign, conceived of by our external agency, to boost brand awareness. At the last minute, we tacked on a $49 massage discount coupon. I’m not sure if people were just really stressed by the election or saw our ads as funny and a welcome respite from politics, but the promotion drove significant traffic to our stores. Relax also enhanced its brand presence via social media campaigns. In addition to a Relax app, which made appointment scheduling easy, and regular push emails, which often included discount coupons or refer-a-friend bonuses, Relax used Twitter, YouTube, and other platforms to weigh in on the health and lifestyle benefits of massage, often with a humorous twist. Here, too, Relax used cheeky messaging, urging prominent individuals in politics or media to relax and prescribing a specific therapy for them. Relax’s content marketing campaign posted instructional video content on topics like diet and nutrition, stretching, skin care, and specific relaxation techniques such as guided breathing. Much of this content featured Francis as the spokesperson because her humorous approach and her passion for the brand made for fun and memorable content. Working at Relax “We pride ourselves on our operational capability” said Francis. “Being in the trenches for so long gave me context and confidence. Without this experience, I could not have run things in the same way.” When a client first walked into a Relax store, she (80% of customers were women) encountered a small, attractively appointed lobby and an assistant manager who was responsible for greeting, traffic management, appointment booking, reminders, billing, and room turnover inspections. The assistant manager was supported by a system that could book appointments and rooms, as well as schedule staff. After checking the client in and leading her to the adjacent small lounge, the assistant manager offered her a heated neck pillow and a cup of herbal tea and asked her to fill out required paperwork. Once the client was seated, the assistant manager sent an alert to the service provider, who would come to the lounge, greet the client by name, and lead her to an available, cleaned room. For massage clients, the therapist left the room while the client got ready for the session (during this time, the therapist often cleaned an adjacent, just-vacated room) and then returned to perform the service. The typical arrival-to-room process took three to five minutes. After a 55-minute service, the service provider would give the client a checkout slip. After changing, the client would return to the receptionist, who would process the payment, accept a tip on behalf of the service provider, sell 4 BRIEFCASES | HARVARD BUSINESS SCHOOL This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. Relax (Boston): Innovating and Growing an Entrepreneurial Business | 918-523 products that had been recommended by the service provider (and recorded on the slip), and invite the client to make her next appointment. Each store was led by a district manager, who was responsible for multiple stores. Stores were open 8:00 a.m. to 10:00 p.m. Monday through Saturday, and 10:00 a.m. to 6:00 p.m. on Sundays. Scheduling on the hour and half hour enabled rooms to be cleaned between client visits while giving clients a chance to relax and change at leisure after their service. Relax provided three basic services. Massage appointments were 55 or 85 minutes long, and clients had a choice of deep muscle, pressure point, Swedish, or aromatherapy massages. Guided stretch sessions were 55 minutes long and could be added to a massage appointment. These sessions used a proprietary method call StretchPro, which had been developed for Relax and trained all providers on the technique during a three-day course. Massage therapists and client-service providers were selected based on both technical ability (an interview involved the candidate showing massage techniques) and customer-service skills. Massage therapists were cross-trained to provide guided stretch sessions, for which they received the same hourly rate. Their efforts were supplemented by less expensive kinesiologists (who were trained as stretch experts) and estheticians (skin care). Most staff were part-time and worked at several locations. Employees were trained to encourage clients to become members through various prompts, and they were evaluated and received incentive compensation based on the number of clients who subscribed on exit. By early 2016, Relax’s small corporate staff supported the efforts of over 450 primarily part-time employees. The head office was leased space in an office park in Burlington, Massachusetts. Relax also retained an external accounting firm, public relations consultants, and advertising agencies. As it grew, however, Francis wanted to facilitate growth by augmenting and professionalizing the corporate operation. Francis was proud of Relax’s new social media and customer data marketing capability. She had hired John Graham, a seasoned marketing executive, to lead these efforts. Relax carefully tracked customers via regular surveys, focus groups, and other forms of feedback, and the membership model tracked frequency of use and other customer behaviors. Relax had thus developed a deep understanding of its customers and continued to refine its service offerings and operations. Relax had recently upgraded and standardized the software it used to manage its stores. The company worked with a software vendor to customize an information system. The software supported check-in operations at the front counter, scheduling, membership sales/contract processing, billing, and employee time-tracking and payroll. The system cost $15,000 for the corporate office and $2,500 for each store. It provided a flexible, scalable solution that could accommodate Relax’s growth plans. Revenue Generation “We want our clients engaged and returning monthly, and we support this goal with our membership model as well as our guest information system and target marketing,” commented Larson. “This gives us a great flow of recurring revenues, and we can keep the client interested by providing different massage options, as well as stretch and skin care services.” In 2014, massage accounted for 85% of Relax revenues, with facials, stretch, and product sales each accounting for 5%. By 2016, the proportion of revenues from massage had dropped to 75%. Product sales had increased to 7%, with the balance split nearly equally between facials and stretch. See Exhibit 1 for Relax’s income statement. “This was great for our bottom line,” opined Francis, “which we needed since expansion had limited our profitability.” A typical new store operated at a loss for the HARVARD BUSINESS SCHOOL | BRIEFCASES 5 This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. 918-523 | Relax (Boston): Innovating and Growing an Entrepreneurial Business first six months and stabilized its operations after 12 months. The annual membership model had mitigated cash flow issues since customers paid for services in advance. The management team sought to convert more customers into members, using an advance sales team when it opened new locations and staff commissions and incentives to drive membership sales. As a result, the proportion of appointments that annual members made had climbed from 33% to its current level of 50%. Annual members were less likely to cancel appointments and more likely to try new services. Only 60% of members used all their allotted appointments within a year (there was an 83% average utilization rate), which meant that annual members were, on average, more profitable even though their cost per massage was discounted. New Locations for Relax Meredith Green, Relax’s chief strategy officer, was responsible for helping Francis plan Relax’s expansion. That effort was sometimes difficult: Relax had long used an entrepreneurial, crisis-first approach. “Francis is a classic entrepreneur, and Relax’s growth strategy long had a large gut feel element to it,” Green said. “I’ve focused on building an analytical structure around our planning to bring in other viewpoints. This process slows us down, but it keeps us from making costly mistakes.” Green found this process especially valuable now. Relax was fielding inquiries from potential franchisees (despite Francis’s stated lack of interest in franchising); private-equity investors asking whether Relax wanted growth capital; and suppliers of ancillary products and services such as cosmetics. She noted, “If we didn’t have any plans in place, we could easily grow the business in the short run in a way that would hurt the company’s long-term interests. Such deals rarely create value for us, however, so we remain selective.” As part of the company’s expansion efforts, Green and Elder were evaluating Relax’s existing locations to identify a model store that would facilitate success in new markets. As they learned about the characteristics of a successful store, they landed on an isolated visible retail location, in an upscale shopping area with a strong demographic base as critical components. The ideal store was much like the first few stores Francis had developed: 1,600-square-foot units with 10 treatment rooms in affluent suburban locations. Francis believed more fine-tuning would enhance the customer experience and reduce costs but noted, “It’s challenging to get everyone to agree about how to implement that vision.” Surviving the Bermuda Triangle Francis was proud of what she had accomplished, but she believed Relax had to change to rise to the next level. “Every business that wants to grow big must learn how to survive the ‘Bermuda Triangle,’ when old ways of doing business no longer scale, but a company lacks the resources and capabilities it needs to compete on a bigger stage. We knew we needed to hire professional managers who had experience running much bigger companies.” In late 2014, Relax began looking for a president. After several months of searching—and a few false starts—Francis identified someone who looked like an ideal candidate. John Bacon had led marketing for a major fast-food company and doubled sales during his seven years there. Prior to that, he had led a consumer luxury brand. Francis said, “We felt we finally had someone with the energy and experience to drive us forward. And everyone on the management team really liked him.” Francis and Bacon then started searching for a CFO. Until that point, Relax had retained a part-time CPA to do most of the company’s finances, and Francis had occasionally turned to a friend from her MBA cohort for financing advice. They found an ideal candidate in Jack Morrissey, a seasoned CFO who had worked for several cosmetics brands. Morrissey joined Relax in July 2015. 6 BRIEFCASES | HARVARD BUSINESS SCHOOL This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. Relax (Boston): Innovating and Growing an Entrepreneurial Business | 918-523 By year’s end, however, the situation was not relaxed. Bacon had not adjusted to limited resources and the entrepreneurial culture. “Our mistake,” Francis said, “was hiring a big-company guy for what still operated like a startup. He was used to having an expense account and lots of meetings, and spent time developing detailed lists, which were stale when they left his desk. We needed someone who could operate the company in real time.” Bacon decided to leave the company. Green commented, “Francis still knew Relax inside and out, so she could step back in without missing a beat.” Not everyone agreed with Francis that Bacon had been a poor match. Green commented, “The problem might have been a personality clash with Francis. John was moving us towards behaving like a more mature business, but Francis was energized by a more informal culture and wasn’t very comfortable sharing or compromising on the product vision. In the end, it was very hard for them to work together.” Elder agreed. “To maintain our pace of expansion, we couldn’t have Francis approve every location and show up on site with a hard hat during construction and choose the floor tiles. John wanted to expand and professionalize the real estate team, but Francis was immersed in every detail. She is talented—and protective—when it comes to the look and feel of Relax, and John was pushing her to let go.” Options for Possible Futures A Better Organization For Francis, Bacon’s short tenure reinforced the need for Relax to act like a bigger company. “We were a medium-sized company with a small company feel,” said Green. “We were hanging on to that because we liked the energy, but it limited our ability to grow. Also, Janet’s personality and enthusiasm for the brand and the team was so compelling that everyone wanted to be directly in her orbit. A mature company would have lines of reporting, but ours basically just had everyone reporting to Francis.” Exhibit 2 shows Relax’s organization chart in 2017. As Francis thought about viable candidates for president, she reflected on what it would take to be successful. “This time around, I want to hire someone with growth experience in a small company. Maybe someone who has developed a large franchise organization. And they really need to love the brand—that much is clear to everyone on the team.” San Diego Some members of the team had long wanted to expand through acquisition. According to Elder, “We can expand one unit at a time, but if we want to get big faster, especially in new markets, we must consider acquisitions.” Francis was initially more favorably disposed to organic growth because it gave her more control over the location and look and feel of each unit. Yet she recognized that doing it one unit at a time had its limits. After her team presented compelling evidence that it would cost less to enter new markets through acquisition, she asked them to research what new markets Relax might enter this way. The team enthusiastically took up the request. For several months, it had assessed the potential acquisition of Massage Depot, a San Diego-based massage chain with 25 units in southern California, with over $10 million in annual revenues in 2016 and earnings before interest, taxes, depreciation, and amortization (EBITDA) margins of approximately 15%. According to Francis, HARVARD BUSINESS SCHOOL | BRIEFCASES 7 This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. 918-523 | Relax (Boston): Innovating and Growing an Entrepreneurial Business We looked at potential acquisitions across the country. This one was the best. Massage Depot will enable us to quickly establish a beachhead in the California market, where we love the demographics and health orientation. Our options were limited since most other massage companies with multiple locations are franchise operations. With Massage Depot, we can add memberships, skin care, stretch services, and our branding expertise. Despite the excitement about the acquisition, California was far away from both Relax’s headquarters in Burlington, Massachusetts, and the other Relax locations. Francis and her team would have to manage the new locations from a distance. The current owners had agreed to stay in place for three years as part of an earn-out agreement, which would add stability, but would they be willing to adapt to the Relax model? Also, about a third of Massage Depot’s locations were in urban locations and attracted a younger demographic. Despite these differences, Massage Depot had much in common with Relax. Both chains promised an affordable luxury experience, and both were experienced at providing simple 60- or 90-minute services (versus the half-day or day-long spa experience that many competitors offered.) Massage Depot stores were similar in size to Relax units, and their service providers were also largely part-time. There also seemed to be additional potential. Migrating Massage Depot to a membership model would improve revenues by a projected 20%. Relax would also have greater bargaining power, and the additional locations would enable it to achieve further economies of scale and scope. Finally, there was the opportunity to introduce a broader product mix. If Massage Depot customers purchased similar levels of non-massage services, these stores’ top and bottom lines would improve. Relax and Massage Depot had discussed the cost of the possible acquisition. The elements of the deal on the table were as follows: • A total acquisition cost of $15 million, including an $11 million cash payment immediately after the acquisition closed. This amount would include $3 million that Relax would pay from its retained earnings and $8 million debt that it would issue. Francis believed Relax could pay more from available cash, but she was concerned that doing so would limit the company’s financial flexibility. • The balance of the acquisition price would be paid via an earn-out agreement that was $1 million per year for four years if the stores met financial performance expectations of an annual increase in both revenues and EBITDA of 5%. • If financial expectations were met for four years, the current owners of Massage Depot would receive an additional payout of $1 million, which Francis hoped would motivate them. Francis and Elder estimated that Relax would also need to spend at least $45,000 in the short term on each store to upgrade key aspects of the facilities and operations. Francis realized that doubling the size of the company would lead to big changes in how Relax operated. She knew that this would accelerate her need to hire a president and formalize the organization. She wondered how to integrate Massage Depot. What responsibility should the owners have, and should they report to her or to the new president? As they completed the due diligence, she also thought about her management team with an eye to making decisions about the reporting structure that she would implement under the new president. Finally, she needed to resolve lingering questions about her role. Should she continue to make most of the operational decisions, or was she ready to pass on this responsibility? Would she be comfortable limiting her role to brand steward, spokesperson, and expansion planner? 8 BRIEFCASES | HARVARD BUSINESS SCHOOL This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. Relax (Boston): Innovating and Growing an Entrepreneurial Business | 918-523 Other Options Francis saw many other options for expansion. “We think that the Relax brand has great potential,” she said, “and we want to take advantage of that to pursue as many avenues of growth as possible.” Additional Spa Services. The company was investigating whether to expand the services it offered at the massage salons from its current offerings of massage, facials, and stretch to include body treatments, nutrition counseling, and even treatments such as laser hair removal, Botox, and filler injections. The potential to cross-sell to massage customers was extremely appealing. Exercise Concepts. Francis had also thought about creating a business around exercise. Yoga and Pilates were particularly attractive given the low capital investments required and the crossover appeal she believed was there for devotees of massage. Guided stretching had been a distinctive and business- building new offering, and some individuals on the management team saw an opportunity to go further with either individual or group instruction. Relax Gear. As the Relax brand gained momentum, the management team had been approached by a potential partner that produced yoga and exercise clothes as well as organic spa wear. International Expansion. Francis saw an opportunity to expand Relax internationally. She believed that Canada, Europe, and some markets in Latin America had high potential. This mode of entry could be more expensive and require local expertise, however, so Relax would need to decide whether to invest directly, license, or enter a joint venture. Retail and Restaurant Concepts. Some on the management team saw juice bars as a plausible brand extension. Francis also wondered whether a Relax-branded restaurant chain that focused on healthy offerings would effectively leverage the brand. Hotel Partnerships. Francis believed that boutique hotels had the clientele to support an on-site spa, but they lacked the resources to manage this offering. She believed that Relax-branded centers on site would help to expand the brand. Some boutique and hotel chains offered massage and spa services, but few had the expertise to manage the specialized human resources, training, quality control, and purchasing processes that led to efficient operations. The potential economics were attractive to her, and she believed that hotel partners might be willing to bear the capital cost of unit development. Guarding the Brand Despite Relax’s many options, Francis was concerned. The Relax brand was well received in its target markets, but the management team wondered if the proliferation of other businesses would dilute the brand name. According to Larson, “We have strong support for our health and wellness focus, and stretch was a natural extension of massage, but skin care seems to be pushing the envelope.” With Relax Philadelphia, Relax New York, Relax Washington, and now Relax Portland, Maine, all under the same brand umbrella, she wondered whether the local naming was helping or hurting the brand. That said, she looked to the popular Sports Club International chain, which had pursued a similar naming strategy (e.g., Boston Sports Club and NYC Sports Club) and balanced its overall branding with a local component, and she wondered how far she could stretch the name. If the company developed a West Coast presence with Relax San Diego, would the strategy still work? Should she consider retaining the Massage Depot brand or some part of it to prevent customer defection? HARVARD BUSINESS SCHOOL | BRIEFCASES 9 This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. 918-523 | Relax (Boston): Innovating and Growing an Entrepreneurial Business Which Way to Turn? With so many ideas to consider, Francis realized suddenly that she was still on her way to Belmont, Massachusetts, and that she had almost missed her turn for Belmont Center. She made it without scraping a tire on the curb. As she paused at the traffic light, she could not help thinking impatiently, if only figuring out the future direction of Relax could be so easy. 10 BRIEFCASES | HARVARD BUSINESS SCHOOL This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. This document is authorized for use only by MARTIN DE LA ORDEN (..n@gmail.com). Copying or posting is an infringement of copyright. Please contact c..e@harvardbusiness.org or 800-988-0886 for additional copies. Relax (Boston): Innovating and Growing an Entrepreneurial Business | 918-523 Exhibit 1 Relax Income Statement, 2014-2016 2014 2015 2016 Number of units (end of year) Revenue 41 48 55 HARVARD BUSINESS SCHOOL | BRIEFCASES 11 Massage revenue 15,703,012 19,787,625 27,381,235 Stretch revenue 966,677 1,811,489 3,558,230 Skin care revenue 911,959 1,888,030 3,113,451 Product sales and other 857,242 1,403,266 2,594,700 Net revenue 18,438,890 24,890,410 36,647,616 Cost of Revenue Massage 8,265,413 10,638,265 16,845,265 Stretch 468,340 927,468 1,812,849 Skin care 434,534 955,533 1,561,474 Product sales and other 582,924 988,920 1,764,289 Total 9,751,211 13,510,186 21,983,877 Selling, General, and Administrative 5,278,369 6,189,226 8,898,793 EBITDA 3,409,310 5,190,998 5,764,846 Other Expenses Depreciation and amortization 1,773,592 1,301,023 2,701,258 Interest/other income (expense)—net (324,321) (219,465) (800,841) Income before Income Taxes 1,393,886 3,670,510 2,262,747 Income Taxes 324,321 1,365,441 735,812 Net Income 1,069,565 2,305,069 1,526,935 Exhibit 2 Relax Organization Chart, 2017 [SAAk1]Leader in Therapeutic massage [SAAk2]11,200,000
Alien Tort Claims Act
Question Alien Tort Claims Act
HI, can someone help me to make this please />Think
Question HI, can someone help me to make this please />Think of a project example in which you can describe stakeholder interests and segment them into: roles (position/ title), priority, placement and interests to determine their forms of engagement. Also, make note of the key stakeholders. You might like to present your response in a table.
1. Should we have a federal Department of Education? Explain
Question 1. Should we have a federal Department of Education? Explain your answer. 2. what percentage of students in your school is eligible for free or reduced-price lunches? Should this be the responsibility of the school system?3. If Sputnik had been launched last year would Congress have acted the same way by giving money to strengthen public schools? Can you explain how you think Congress would act today.4. What has happened to educators’ salaries in your state since the Great Recession began? What effect has that had on teacher morale?
1. What percentage of revenue comes from federal, state, and
Question 1. What percentage of revenue comes from federal, state, and local sources?2. What drives funding in education – equal funding, equitable funding, or adequate funding? Why is equal per-pupil funding not a good idea?3. How did the 14th Amendment to the U.S. Constitution impact school funding in terms of equal funding?
Choose one government regulation (such as Discrimination Act) and state
Question Choose one government regulation (such as Discrimination Act) and state how it can significantly impact organisational development and change.
1 Explain why the car industry seems to have so
Question 1 Explain why the car industry seems to have so many strategic alliances.2 What is meant by ‘leveling out of knowledge’? How can firms prevent this happening when engaging in strategic alliances?3 Considering the case study, discuss some of the wider strategic reasons why firms may wish to enter a strategic alliance.4 Apple seems to have many strategic alliances and supplier relations. Discuss the extent to which these contribute to its success.5 Explain some of the risks involved with all strategic alliances.6 Explain why the repeated game of the prisoner’s dilemma is considered to be more useful in predicting behavior.
How might managers make use of Maslow’s hierarchy of needs
Question How might managers make use of Maslow’s hierarchy of needs in motivating employees? What problems would they encounter
are your requirements to view question
Question 1Deliverables for this assignment are:1. design a balanced scorecard 2. develop an executive summary 3. combining of all assignments into a complete business plan. Having a solid business plan is essential for the direction your new company will follow through fruition. Equally important is to ensure adherence to the business plan is maintained throughout the venture. Therefore, a tool for the purpose of tracking the progress of your business venture to the business plan is needs. The balanced scorecardis a strategic planning and management system that is used extensively in business and industry. It keeps business activities aligned with your business plan, strategy, vision, and venture concept. It can also improve internal and external communications, and monitor organization performance against strategic goals (Balance Scorecard Institute, 2014). Using your textbook and external resources, design a balanced scorecardfor your new business venture. At this point, you should combine all of the elementspresented in previous PA1 thru PA6, CLA1 and CLA2to form and complete your Business Plan for presentation. Your entire CLA2 paper should be 22 to 25-pages in length.Use in text citations that must match peer reviewed references minimum 10Question 2 In addition to your CLA2 report, please prepare a professional PowerPoint presentation summarizing your findings for CLA2, including all parts of your business plan. The presentation will consist of your major findings, analysis, and recommendations in a concise presentation of 15 slides (minimum). You should use content from your report as material for your PowerPoint presentation.
This for a MGMT 392 Database Management class. Here are the instructions:Consider
This for a MGMT 392 Database Management class. Here are the instructions:Consider any online retailer with whom you either have direct experience or you have researched.For this activity, write a 3-5 page paper that addresses the following: You are free to cite an example from your own organization if you have current or prior work experience (provided, of course, they do not consider this information to be proprietary and confidential). If you cite an example from other sources, please list your reference.Refer to the Module Exercises Rubric for grading criteria. MGMT 392 2.2 Module Exercises RubricMGMT 392 2.2 Module Exercises RubricThis criterion is linked to a Learning OutcomeIdentification and Analysis of the Main Issues/ProblemExcellent (A) (27-30) Identifies and understands all of the main issues in question. Insightful, and thorough analysis of all the issues.Above-Average (B) (23-26) Identifies and understands most of the main issues in question. Thorough analysis of most of the issues.Average (C) (19-22) Identifies and understands some of the issues in question. Superficial analysis of some of the issues in question.Near-Failing (D) (15-18) Identifies and understands few of the issues in question. Incomplete analysis of the issues.Failing (F) (0-14) Identifies and understands very little of the issues in question. No analysis of the issues.30.0 ptsThis criterion is linked to a Learning OutcomeAnswers to QuestionsExcellent (A) (27-30) Answers to questions are clear throughout. Connection with class and study material goes well beyond the obvious connections among ideas; demonstrates insight and original thinking.Above-Average (B) (23-26) Answers to questions present some irrelevant information on topic etc., but very little; treatment goes beyond obvious connections with class and study material.Average (C) (19-22) Answers to questions are vague in places; some irrelevant or distracting information.Near-Failing (D) (15-18) Answers to questions are unclear and/or confusing. Treatment is very superficial; paper may be well written but says nothing.Failing (F) (0-14) Does not address the questions. Treatment is very superficial and says very little.30.0 ptsThis criterion is linked to a Learning OutcomeStrategy Choice and JustificationExcellent (A) (21-25) An appropriate, reasonable strategy is selected and successfully developed. Content knowledge is used correctly.Above-Average (B) (17-20) An appropriate, reasonable strategy is selected and moderately developed. Content knowledge used appropriately, with minor computation errors.Average (C) (13-16) An appropriate, reasonable strategy is selected, but minimally developed. Uses content knowledge with conceptual errors.Near-Failing (D) (10-12) There is an attempt to solve the problem. Barely any strategy is applied that could lead to an answer. Rarely uses content knowledge.Failing (F) (0-9) There is no attempt to solve the problem. No strategy is applied that could lead to an answer. Uses no content knowledge.25.0 ptsThis criterion is linked to a Learning OutcomeCommunication, Style and MechanicsExcellent (A) (13-15) Solution is presented in a clear and orderly manner so the reader can follow the flow of the solution and final answer.Above-Average (B) (11-12) Solution is presented appropriately, but may contain a minor error. Reader can follow most of the steps in the solution and final answer.Average (C) (9-10) Solution is presented appropriately, but contains conceptual errors. Solution is presented in an unclear manner. Scorer has difficulty following the sequence of steps.Near-Failing (D) (7-8) Presents the problem in an unclear manner, steps are missing or out of sequence. Scorer cannot determine a sequence of steps.Failing (F) (0-6) Does not present the problem in a manner that can be deciphered. Misuse of words throughout. Awkward sentences throughout. Difficult to attach a thought process. Poorly punctuated, misspelled words, grammatically abusive.15.0 ptsTotal Points: 100.0PreviousNext
Posts to questions should be a minimum of 225-250 words (1pt each).1.)With
Posts to questions should be a minimum of 225-250 words (1pt each).1.)With the decline in the unionization rate and the number of employees protected by unions, share your perspective of the future of organized labor. Why? What specifically supports your perspective? (Provide a link to an article, reference an article or book, or state an historical fact that informs your perspective).2.)Select questions at the end of HRM Incident 1 (The Overseas Transfer) or HRM Incident 2 (Was There Enough Preparation?) at the end of Chapter 14 to respond to on the discussion board. Your response should be a minimum of 225-250 words and use terminology, ideas and concepts from Chapter 14. Your responses will be evaluated based on your ability to demonstrate the knowledge that you have learned in the chapters and to apply that knowledge in an analysis of the “Incident.”APA style for each postText: Mondy, R. Wayne
discusses the many details of entrepreneurship, but what does it take to be an entrepreneur. Identify and discuss new ventures that fit each of the four cells in the entrepreneurial strategy mix (Exhibit 7.5 pg. 199-200).
Question :Chapter #7 discusses the many details of entrepreneurship, but what does it take to be an entrepreneur. Identify and discuss new ventures that fit each of the four cells in the entrepreneurial strategy mix (Exhibit 7.5 pg. 199-200).Textbook Chapter 7 : Management: Leading and Collaborating in the Competitive World 13th e (loose-leaf)(Bateman/Snell/Konopaske), McGraw-Hill (2018)ISBN: 9781260194241A Pocket Style Manual 8th e (Diana Hacker and Nancy Sommers) Bedford/St. Martin’s (2018)ISBN: 978-1-319-05740-4Millionaire Moves: Business mogul teaches 7 steps to success in new book.https://www.detroitnews.com/story/business/personal-finance/2017/06/11/william-pickard-new-book-millionaire-moves-seven-proven-principles-entrepreneurship/102763080/Creativity and the Role of the Leader. https://hbr.org/2008/10/creativity-and-the-role-of-the-leader
Porter 5 forces tool:1. Threat of Substitution2. Threat of New EntryIt has
Porter 5 forces tool:1. Threat of Substitution2. Threat of New EntryIt has to be single space and a full-page APA citation is needed!!!!!!
Part 2: Internal Environmental Analysis
Resource: Strategic Plan Part 2: Internal Environmental Analysis Grading GuideWrite a 1,050-word minimum internal environmental analysis in which you include the following: Format your paper according to APA guidelines. Submit your assignment.
revise a paper including tables and matrix on the topics below?
Write a paper of no more than 1,400 words, including tables and matrix, that includes the following:
Workforce Diversity Relevant in Different Countries
In this discussion activity, address the following in your primary, original posting:
Make sure it is written in apa format and the word count
Make sure it is written in apa format and the word count is 300 words or more. Please cite sources and there should be at least 3 scholarly sources.Please do not use responses from other cites as there will be a plagiarism check.One of the salient sections is about Key Work Attitudes. For your Discuss topic this unit, I want you to take the Key Work Attitudes discussed in the chapter and first of all pick which of the attitudes is most important and explain in detail why. Then I want you to suggest ways a company can attempt to maximize all of the work attitudes. What steps would lead to each one of the attitudes for workers?
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