Unit II Scholarly Activity Most problems companies face are due to a lack of inf
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Question
Unit II Scholarly Activity
Most problems companies face are due to a lack of information; with complete and accurate information, the problems could be solved. Using the CSU Online Library, explore the topic of how research is conducted in organizations to address problems or issues. Then, select a company that is of interest to you, and respond to the following questions/topics:
1. Briefly describe your company. Identify potential problems or issues (current or future) that your company might address with a research study.
2. What indicators are prevalent demonstrating that the company is effectively (or ineffectively) using research studies within the organization?
3. How might the company use secondary research? How might they use primary research?
4. What might this company do in the future to expand its research? Include your rationale.
Your APA-formatted response must be a minimum of three pages in length
Explanation / Answer
Conducting business research is a systematic and scientific process. It has well defined and clear objectives. As per requirement of the problem let's take a retail company which is a supermarket chain. This company came in existence just a year back i and has only two stores. The supermarket is currently carrying assortment mainly from well known brands. After initial warm response at the time ofo opening of the stores few issues are bothering the management. Footfall growth is diminishing and conversation rate is below industry average. Non availability and stock out are also concerning management. Initial growth plan of the company demands opening new stores and it is critical to keep investors complacent.
The company decided to undertake research to help in finding solutions to the issues that it's facing.
A brief from a research agency gave following research process outline.
1 Identifying the issues and problems
2. Translating the issues into research problems.
3. Defining research objectives
4. Designing the research
5. Collecting data
6. Tabulating and analyzing
7. Drawing inferences
8. Making conslusions and suggestions through a formal report.
Next question demands understanding what company should do to solve its problems. The indicators are identifiable from the issues mentioned above. Since footfall is diminishing, situations of nonavailability and stock out are visible. It clearly indicates company is not using research to understand shoppers needs, company does not have proper information on adding new products and managing inventory.
Company must use secondary research and get data from various existing and published sources to understand products that are loved and reviewed favourably to add and eliminate products. Store design and layout could be studied and adopted that can make shoppers comfortable. In fact all aspects of retailing can be elaborated based on secondary research.
Primary research needs to be more focused and specific. Here Market basket analysis techniques could be used to understand buying and bundling pattern of products. Further primary research could be useful in selecting new store locations. Profiling residents through survey can help to decide inventory.
Research will be needed during entire journey of any organization. This company needs to constantly undertake research to gain insights into shoppers behaviour for strategizing future growth. Few important research requirements in future could be...
1. Location analysis for opening new stores.
2. Constantly assessing shopper's wants to rewamp assortment.
3. Change in industry pattern in terms of customer convenience and services.
4. Designing in-store as well as outdoor promotions and offers.
5. Manpower planning and idenfyinIde their training needs.one can elaborate on above points to develop 3 pages writeup. Do explain steps in research process better through a flow chart. Details of various secondary sources must be included. Also explain various primary data collection methods and link their applicability with this hopothetical company. Justification for future research lies in need to grow, gain competitive advantage, develop shopper's patronage, reduce inventory cost, identifying locations that offers high footfall.
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