...Business Jill Tobias Rasmussen College This paper is being submitted on July 19, 2015, for Susan Zappia course Business Research Analysis GEB 3124. Starting a business can a time be a very difficult task to undertake since it involves full commitment and researching on the consumer needs. For a business to succeed, it should have taken into consideration the market needs of individuals. A business research is a vital requirement that should never be left out when considering a business project. The success of a business is mostly determined by the depth or research you conducted before establishing the business. When a business research is shallow, it is expected that the business will fail in the long run if different strategic measures are not used to keep it in the market. There are several types of research that should be undertaken for a business project to be successful. First, conducting a field research is crucial to in enabling the investors establish the needs of the community. This type of research will be a success if done in collaboration with the cultural anthropologist. These anthropologists will help you in identifying the needs of people in that community. Additionally, the field research can be achieved by taking a step of interacting with the consumers of your target market. It would be a challenging task to innovate a product for the consumers without first identifying what they require. Similarly, you can engage third party who understands the needs...
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...EXECUTIVE SUMMARY This report is commissioned to examine the scope of conducting business overseas on behalf of Fine Maple Products Ltd. – an Ontario based maple products manufacturing company. The research draws attention on various factors involved in expanding company’s business in two potential markets i.e. France and Israel like market size, legal and political considerations, economic conditions and etc. The main purpose of conducting trade research is to diversify its risk through splitting the business in foreign markets and compete with other companies dealing in the same product with foreign market exposure. TABLE OF CONTENTS EXECUTIVE SUMMARY RESEARCH PLAN Key objective Key topics to be researched Importance of key topics to be researched...
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...Conducting a Business Research RES/351 February 10, 2014 Examination of Problem and Purpose T&W Operations is an information technology and logistics company searching for the most cost effective way to providing insurance coverage to 75 new and current fulltime employees as mandated by the Affordable Care Act. This act requires businesses to provide all fulltime employees health insurance meaning an increase in company costs to organizations like T&W Operations Inc. To concur with a large number of new customer proposals, T&W is now hiring 100 new employees, 50 of them being fulltime associates, equaling a total of 150 individuals, 75 fulltime and 75 part time employees. The company must find the most cost effective insurance plan to provide too all 75 new and current fulltime employees health insurance to abide by the Affordable Care Act requirements. . T&W’s Insurance Costs Increase: The Significance and Solution This significance of the solution is huge because if T&W Operations does not provide affordable health coverage to 75 fulltime associates, the company will pay a tax penalty of $2000 a person minus the first 30 employees, meaning T&W will owe $90,000 annually to the remaining 45 employees who did not receive insurance for a particular time period. According to the online forum www.obamacarefacts.com, “ The Obama Care "employer mandate" is a requirement that all businesses with over 50 full-time equivalent (FTE) employees...
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...One Business Research Process Christina Guilin October 16, 2012 RES 351 Steve German Two The business research process is very crucial to conducting ethical and successful business. This process includes learning everything possible about the company’s customers, competitors, and the industry. Having information and competitive advantage is prudent to conducting any business research. Goals, decision support, business intelligence, strategy, and tactics will only strengthen the research process. The objectives to focus on during the business research process are to determine what products and services to offer, who will purchase them, and how to accurately price and promote those products. It is important to be knowledgeable about what consumers are looking for in the particular industry one is in. The steps in the business research process are to define the objective or problem, create a research proposal, design and prepare materials to carry out the research plan, conduct sampling, observations and collect data, analyze the data collected, and draw out a conclusion and communicate results of the research. While working at Starbucks, we were constantly faced with the changing needs of our customers. There were constant promotions happening, which kept consumers returning for more. Over last summer, Starbucks launched a new product called Starbucks Refreshers, and offered three different ways. We had to come up with a way to effectively sample these...
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...the small 1/3 who will remain in business for 15 or more years, it is critical that the business have the successful tools to continue being profitable. In any business, whether it be new or old, it is critical for the business to have a marketing plan that is always being re-structured to stay ahead of the competitors and draw the right demographic of buyers to the company’s product or service. One of the main & essential parts in a marketing plan is conducting the proper research methods to find out the pertinent information needed to market a product or service. Not only is this research necessary at the start of forming a thriving business, but research will always have to be conducted in order to continue keeping a significant comparable advantage over its competitor. One research method that could be utilized is quantitative research. In the case of a company entering the retail space, it would be critical to conduct this kind of research. In one case where we can see how marketing research has affected the development of a retail company is the case of J.C. Penney in A Preface to Marketing Management. In this case presented by Harvard Business School, they discuss some of the effects that J.C. Penney’s faced from what they say was a “radical makeover” of their marketing plan in early 2012 after having faced great financial losses in years prior to their other large competitors. The Observation Method in quantitative research methods for marketing was a big...
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...Before conducting business research it is important to know the proper and most effective way to conduct this type of research. By using the business research process as discussed in our textbooks, a student or employee can conduct research and find the necessary information in a shorter time period than someone who has not examined the process outlined in the textbook. Throughout this assignment I will explain how the business research process can be used in a business or workplace setting. The first thing to do when conducting business research is to prepare to search by clarifying the research question. Explore every angle of the question you are trying to answer.. For example, I am a buyer for a subprime auto finance company and we have a lot of competition in the business. So, I conduct research to find out what other companies like ours are doing, how they are operating, and how that may be hurting or aiding our business. I take my findings to management in order to propose necessary changes and help the business grow. The second step is to prepare a research proposal and develop a research design strategy. You need to know exactly what you are proposing to research, outline every detail of what you need to know and where you can get the information that you need to obtain. When I research our competition I write out a list of all of the companies we are similar to in the industry and begin to research specific details of what they do and why they do it. You need to...
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...Understanding Business Research Terms and Concepts: Part 1 RES/351 Business Research August 13, 2014 Understanding Business Research Terms and Concepts: Part 1 It is important to understand business research terms and concepts when conducting research. Having an unclear understanding of the terms and concepts could lead to ineffective research results. Having good measurement tools in place can be used as an indicator for measuring accuracy. Tools that are put in place to measure accuracy are evaluated using three key criteria, validity, reliability, and practicality. Validity is the main concern of the research. Reliability deals with the quality of measurement. Practicality is concerned with factors of economy, interpretability and convenience. In this paper, I have chosen two articles and will identify, compare, and contrast the two approaches, qualitative and quantitative, used by the researcher. In the first article titled, “Research in the News: Practicality trumps desirability in gift giving”, the researchers use a qualitative approach. The strength of this approach was that the studies were conducted face to face in a classroom which allowed the study capture the actual emotions, feelings, and opinions of the individuals being surveyed. Using a combined approach in this study would enhance the results by adding in statistical measures, which will be obtained through the quantitative design. The appropriate method for this research study was the qualitative...
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...Business Research Ethics University of Phoenix RES/351, Sean Kenney By. Claudia Nerio August 31, 2015 The article Why Millennials Will Improve Your Company explores the differences between millennials and other groups in the workforce. Millennials expect autonomy, insist their work have purpose, and think business needs a reset toward more concern for helping society. The article explains how this younger generation is pointing in a direction that may be good for business and for the public sphere as well. This theory was backed up by a survey conducted by Deloitte which confirmed that 60 percent of millennial respondents said that a sense of purpose is part of the reason they chose to work for their current employer. Additionally millennials responses proved that they are critical of business leadership for putting profit and personal reward above employee well-being and growth. In addition the article also focuses on the negative reputation millenials have gained over the years. For instance, it has been said before that millennials can’t tolerate difficult work for long, and that they expect continual encouragement and rewards. There has also been a lot of focus on soft skills, many argue that millennials fall short in this area. When many enter the workforce they lack practice with soft skills. A recent survey conducted of business people and millennials showed that 84 percent of decision-makers and 78 percent of corporate recruiters said that soft skills are very important...
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...Business Research Ethics Adam S. Wilcox RES/351 9/24/2012 Maja Zelihic Ph.D. Business Research Ethics Ethics in business research refers to a code of conduct that is expected to be observed while conducting research. This ethical conduct applies both to the organization and the individual researchers conducting the research. The ethical behavior must be included in each step of the research process from data collection and analysis, through the reporting of the findings. If an organization or individual researcher does not abide by the code of ethics for business research he, or she may end up facing penalties from termination and fines to jail time. Unethical Research Example In November of 2007 Raj Mathur was convicted of receiving “secret commissions” and breach of trust for accepting funds from private companies seeking government grants (Shannon, 2007). Mathur was a National Research Council adviser whose duties included assisting companies applying for government grants. Mathur’s wife Priti Mathur owned a company that received over $300,000 in “consulting” fees from private companies. These unethical transactions took place between 1999 and 2003. Priti Mathur claimed that the applications for government grants were completed by herself and her son. However, she did admit to seeking advice from her husband occasionally. While Raj Mathur claimed he did not give his wife any more assistance than he would give any other...
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...Business research involves the systematic and objective process of gathering data and transforming it into useful information. The research process is not confined around a single universal methodology. Infact it differs from one research study to another depending on the purpose of the research, the industry/ sector of the client company concerned, the research method/ tools used etc. As the research process differs, researcher faces different problems and issues pertaining to the research at almost every stage of the research process. It is important to note that the research problems are more complicated in studies involving subjective issues such as customer satisfaction surveys because in such a study, the quality and effectiveness of the service/ product varies among different customers depending on the customer''s perceived value of the offering, their prefferences and varying needs and demands. One of the most common problem the researcher faces are budgetary constraints. This occurs in almost all the business researches regarless of the company sector, nature of the problem, the location where the study is conducted etc. However, budget constraints are higher when researches are conducted for SME (Small and medium enterprise) clients. Such clients have limited budget for such research activities as the company needs to ensure that the value generated by the research activity exceeds the cost involved in conducting the research. Depending on their project...
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...Small Business & Technology Development Center Conducting an Industry Analysis This guide is intended to assist you with your research as you perform an analysis of your business industry. The following steps should be used as a template to report major findings and organize your research. Several key factors must be considered as you analyze your industry: Geographic Area – Local?, regional?, statewide?, national?, international? Industry – Size, trends, outlook Product Buyers – Target customers Regulatory Environment Company Information – Identify and research most successful businesses Identify the Industry Determine the Standard Industrial Classification (SIC) Code and/or NAICS Code for the industry. Find codes at the US Census Website: http://www.census.gov/eos/www/naics/ Industry Overview Include: A brief history Factors that affect growth Government regulations Leading businesses in the industry Library Resources: o Standard & Poor's Industry Surveys o US Industry & Trade Outlook o Encyclopedia of Emerging Industries, Gale Research o Encyclopedia of American Industries, Gale Research Internet Resources (free or for purchase): o Trade Associations – Find appropriate associations in: Encyclopedia of Associations or a general Internet search) o Hoover's Online (http://www.hoovers.com/) – Companies and Industries Section o MarketReseach.com (http://www.marketresearch.com) – Retailer of private market research reports Small Business & Technology...
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...Business Research Application RES/320 Foundations of Research September 9, 2013 Dr. Elizabeth Frayne Business Research Applications Research is an essential activity for businesses of all sizes. It is necessary to collect as much data as possible to make sound business decisions. The primary goal of the business research process is to generate valuable insights about a company that can produce growth in shareholder wealth. The main steps covered include research question development, research design, survey, and the final data analysis. Throughout this paper, the focus will be on the research methods of Exxon Mobile Corporation. Create a Research Question The first step in the business research process is to identify goals and outcomes that will lead to prosperity for the organization. An effective business research question should have the ability set the foundation for future data gathering activities. Research questions can be related virtually to any business area, such as customer service, competition, employee relations, etc. The question should seek an answer to a potential weakness within the company. Once the question is answered, it will allow the company to make better business decisions (Baruch, 2008). As one of the largest oil and gas producers in the world, Exxon Mobile must focus on goals that will help the company maintain dominance within its industry. Research questions will be related to competitor analysis and global market conditions...
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...Marketing assessment Outcome 1 1. Identify three key characteristics of the marketing concept. Marketing is about being consumer orientated. All the marketing and the business activities involved should be directed to create and satisfy consumers’ needs and wants. The goal should be consumer satisfaction in order to succeed. The product or service which is being offered should be purely focused on customers/consumers. Market research is another key characteristic in order to succeed as it helps organisation to determine what consumer’s needs and wants are. By conducting market research it helps understanding what consumers are seeking for and finding ways to provide products or services which customers demand as it very vital. Also by conducting market research regularly it allows a business to keep up to date with the market. Marketing planning is another key asset to have in order to succeed. The overall objective of a firm is to maximise profit through satisfaction of customers. This is achieved by identifying, anticipating predicting and satisfying customers’ needs and wants. It is about understanding and amending and shaping your service or product based on your customers’ demands. 2. Explain Clare’s Chocolates micro and macro environment. An organisation is affected by many things which can either be long term or on a daily basis. There is an marketing environment in a firm which influences the way they operate which can be split into 3 sections which...
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...Table of Contents 1. Background ………………………………………………………… 2 2. Objectives of the Research………………………………………… 4 3. Methadology……………………………………………….………. 5 4. Executive Summary………………………………………………. 6 5. Findings………………………………………………………….... 7 6. Conclusion and recommendations……………………………….. 11 7. Appendices…………………………………………………………… 13 Background About Apple Apple Inc. is an American multinational corporation that designs and markets consumer electronics, computer software, and personal computers. The company's best-known hardware products include the Macintosh line of computers, the iPod, the iPhone and the iPad. About RIM Research In Motion Limited (RIM) is a Canadian telecommunication and wireless device company best known as the developer of the BlackBerry smartphone. Target markets for the iPhone and BlackBerry are starting to overlap. The iPhone is a media consumer's dream, playing movies and music with ease. But it's not as finely tuned for the corporate user; large companies have resisted letting employees use iPhones on corporate networks The iPhone accounted for 16.1% of the market in the quarter, compared to 10.9% the same period a year ago, IDC said in releasing its quarterly report Friday. In terms of shipments, Apple shipped 8.8 million units, a 131.6% increase from the 3.8 million shipments a year ago. RIM, meanwhile, saws its share drop to 19.4% from 20.9% a year ago. Nevertheless, the company shipped 10.6 million units, a 45.2% increase...
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...Assignment 2 – Philosophy of Science Sofia Ellmén, 072270 QRM, 23019 Instructor: Veronica Liljander Individual assignment 2 HT 2011 The aim of marketing research is to conduct empirical studies, which generate theory through the findings that the researcher makes in his or her study. In marketing research the object of research is usually concerned with consumer behavior and other social matters. When conducting academic research, one must not only be familiar with the appropriate theoretical framework to use, but also know which methods are suitable for conducting that particular study. Theory and methodology cannot be separated from each other, but should be seen instead as a whole. Depending on the theoretical framework you also commit yourself into using specific tools in the empirical research you aim to do. In other words, your world view directs what methodology you can and should use in your empirical work (Desphande,1983). The different world views are in this case broadly classified as research philosophy and when discussing different research stances one can take, we are talking about research paradigms. The three assigned articles by Desphande(1983), Brand(2009) and Tadajewski(2004) discuss the various research paradigms and how they can and should be contrasted to one another in order to form a more functional whole. In the first article by Desphande, a definition for paradigms by Thomas Kuhn is offered. Paradigms are described as a guide for...
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