Sundial Brands partnered with investment firm Bain Capital to gain financial backing to expand its business and product lines. Sundial used a "tell and sell" strategy initially to inform consumers of the change, but then switched to "identify and reply" by addressing consumer concerns directly. CEO Rich Dennis and other sources reassured consumers that the company's core values and commitment to its customers would not change as a result of the partnership. The investment allows Sundial to further its mission of serving its customers while maintaining the company's independence and family ownership.
3. Article Summery
• Partnered with Bain Capital
• Wants to give its consumers the real reason why they
made this change
• Want to be able to better serve the community and its
consumer
• Without the financial backing some goals would not be
achieved.
4. Summary Continued
• Sundial wants to be the model for other
entrepreneurial companies
• This partnership shows smaller companies that you
can get investments without losing your
entrepreneurial integrity
• This partnership allows Sundial Brands to expand into
a General Market that serves all demographics
5. Summary Continued
• Bain Capital is committed to helping Sundial Brands
reach their full potential and goals
• Sundial Brands is confident that this is a game
changing partnership
• Sundial Brands wants to make themselves better for
their consumers and they believe the partnership with
Bain Capital will allow them to do so
6. Summary Continued
• Sundial has been approached numerous time to see if
they would sell the company
• Sundial Brands wanted a partner that would not
interfere with how they do business or market
• A partnership with Bain Capitol allows the company to
keep its integrity and its same style of management
7. Strategies used in Change Process
• Change is the most challenging event for an
organization
• Companies will typically uses 1 of 5 strategies to reveal
information about the change
8. Managerial Strategies for
Communicating Change
• Spray and Pray
–Gives detailed information and hope that employees
are able to decipher between significant and
insignificant information
• Tell and Sell
–Give employees information about the change and
then try to sell them on the idea
9. Strategies Continued
• Identify and Reply
–Management listens to concerns of employees and try
to respond with concern for those issues
• Withhold and Uphold
–Management withhold information and when
questions only give unnecessary information
10. Managerial Strategies Continued
• Underscore and Explore
–Focus on the pertinent information about the change
and gives employee creative freedom to explore
possibilities
11. Application
• Sundial Brands used the Tell and Sell strategies to
pacify its consumers but soon change identify and
reply
• Sundial Brands has made many articles and post
telling its consumer that the partnership investment
was at the best interest of its consumers
• Some consumer still have reservation on if the company
is really for its customers
13. Identify and Reply
• Many natural hair bloggers have used there forum to
educate the masses on the truth about the deal
• Using direct quotes from a interview Michelle co-
founder of Naturally Curly was able to answer key
questions consumers had
14. Identify and Reply
• The video entitled “The Truth About the Shea Moisture
Bain Capital Partnership answers the major questions
most consumers had
• 1. Are they still family own?
• 2. Will the product formula change?
• 3. Will they abandon their core consumers?
• Link https://youtu.be/YLO-oCcOQtI
15. Identify and Reply
• CEO Rich Dennis is taking all efforts reassure that all
of its customers will always be the heart of the
company
• “The family remains truly the majority and truly in
control of the business. For us, that is important
because our consumers are the most important things
to us - always have been.“
16. Identify and Reply
• Reassuring there core values of giving the best product
“As we approach 25 years of doing what we love for the
community we love, our family will continue our proud
tradition of making the highest-quality products possible
with natural, certified organic and ethically sourced
ingredients and doing what we do best - serving our
SheaFam with only the best...wherever they are."
17. Conclusion
• I love the fact the Sundial Brands/ Shea Moisture goes
above and beyond to reassure there costumers
• The change was something very new and consumers
had tons of reservations
• I will continue to watch how the Sundial Brands and
Bain Capitol plays out
18. Questions
• I want to know more about this company from the
employee view
• I would love to know how this change affected its
employees who are on the lower level of the company.
–How did Sundial set the stage for the change?
–What was the employees perspective of this change
19. Questions
• What were the benefits for the employees?
• How effective has the change help build the company?
• Was there a better way to communicate the change to
the customer?
20. Work cited
• 10 Reasons We Chose a New Partner - Sundial Brands.
(2015, September 02). Retrieved March 30, 2016, from
http://www.sundialbrands.com/10-reasons/
• Did SheaMoisture Change Their Formula? (Updates) |
Curly Nikki | Natural Hair Care. (2015, September).
Retrieved March 31, 2016, from
http://www.curlynikki.com/2015/11/did-sheamoisture-
change-their-formula.html