Avon’s Turnaround Plans: A Move in the Right Track?
Avon Products Inc., a globally leading beauty products manufacturer and direct seller had been witnessing many restructuring efforts over the years. Andrea Jung (Jung) Avonâ€™s CEO faced declining sales and stiff competition from online and brick and mortar industry rivals. In response to declining sales Jung came up with a multiyear restructuring program, but failed to turn the company’s declining sales around. In 2012, Jung was appointed as the Company’s Chairman and Sheri McCoy (McCoy) was appointed as the new CEO to revive its fortunes. McCoy was faced with the challenges of improving the performance of Avon, revamping its IT business in Brazil, solving the bribery scandal and also coming up with a strong strategy to survive in the market. Although McCoy made several efforts, Avon had to spin off its North American operations to Cerberus Capital Management LP. In 2016, McCoy came up with yet another restructuring effort and eliminated around 2500 positions (Sharma, 2016). As part of its cost-cutting drive, focused on leveraging the social media and invested in technology. McCoy’s efforts were not well received by some of its shareholders who wondered whether McCoy’s actions would work in the long run. The case focus is on business model evaluation, customer value proposition (chapter 2), leading and managing change and restructuring (chapter 7), corporate strategy, technological change and ecommerce platforms (chapter 6), industry dynamics (chapter 4), and value chain and VIRO analysis, (chapter 5).
Tasks: This is a preparation for a presentation. I am doing “recommendations Supported by Quantitative and Qualitative Rationale” part, which needs to be 4 minutes long in the presentation. Please, help me do one or slides and give me a document about the presentation draft that I need to say in the presentation. The presentation expectation is in the document.