Review the Lester Electronics scenario. Identify several issues. In this assignment develop alternative solutions for Lester Electronics.
Identify and research two companies that have faced specific issues related to those you identified in the scenario and connected with the concepts. For each company selected, discuss the following:
(A) Issue identified in the scenario that is also facing the company
(B) How the company responded to the issue, and
(C) Outcomes of the company's response to the issue.
Thus, provide synopses, one for each company, which provides the information identified.
Based upon the information gathered from the individual work done in Step 1, prepare an analysis that synthesizes the key findings. Using the companies researched:
(A) Identify the key course concepts and
(B) Compare and contrast the practices of each company related to those concepts.
Appropriately cite all references used.© BrainMass Inc. brainmass.com September 20, 2018, 6:39 am ad1c9bdddf - https://brainmass.com/business/benchmarking/lester-electronics-investment-alternative-benchmarking-for-bernard-lester-220578
I love hot dogs so for me I have to go with Oscar Mayer. Oscar Mayer was started by a German immigrant in 1883. Oscar Mayer is one of the most best known and reputable food products/producers in the country. This has been accomplished by providing quality products and outstanding advertising. Some of the most famous advertising campaigns are two songs and an interesting looking car, the Weinermobile. The two songs that helped propel this company to ultimate greatness are "My bologna has a first name...." and "Oh I wish I was an Oscar Myer wiener..." According to Information Resources, the company that tracks supermarket data puts Oscar Mayer at the top in sales for hot dogs, bacon and cold cuts (The Winning Oscar, 2003).
Moving forward 120 years, in 2003, the president of Oscar Mayer, Rick Searer, said, "As we sit here, I realize we are simply stewards of a brand. And although we are here to maximize shareholder wealth, we want to maximize shareholder wealth over a long period of time. We are in the business of creating innovation and improving brand equity so that our businesses are every bit as relevant to consumers forty years from now as they are today." Looking at just one accomplishment that Oscar Mayer accomplished, the vacuum package shows the level ingenuity. For any company to be successful there needs to be change according to the needs of the customers and consumers. Another product that helps keep Oscar Mayer at the top is the Lunchables. This is basically a refrigerated product that provides a variety of food combinations (The Winning Oscar, 2003).
Knowing that Oscar Mayer wants to keep this leadership position among increasing competition, there must be a diligent effort to keep high standards, add new products and have an attention getting advertising campaign. These strategies will serve to keep maximizing ...
Investment alternative bench marking for Bernard Lester is examined. The alternative solutions are developed.