This document provides answers to specific research questions and management decisions related to various business management problems. It includes information on the specific problem, research question, objectives, subject area, and keywords.
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BUS703 Managing Research: Task 1 Answer Sheet Name: Student Number: Date of Submission Answer 1: Tyre Retailer AnswersMax Marks 1.1 Problem and management decision(what is the specific problem or issue to be investigated? What is the company seeking to find out? What do they not know, what management decisions will be made?) The specific issue to be investigated is the problem of declining market share every year. The mentioned Australian tyre retailer having 25% of its market share in Australia faced sudden decline in their sales and profits . The company is trying to find out the reason behind their declining sales. They have been serving for so many years to the reputed brands like Good Year and Dunlop but are recently on the verge of losing all their loyal customers one by one. The fact is that they do not know about their lacking until the new CEO tells them . They do not know that their sores have high counters . The customers find difficulty in interacting with the store managers. Most of their customers were women who did not receive pleasant welcome and tried to leave the store as soon as possible. The overall problem that they did not know was the problem with the retail environment. The management decisions will be made to conduct a practical survey of the other stores and find out whether the situation is same(Brav et al. )stores. The modification of the retail environment based on the customer requirements will help to address the issue that is outlined by the CEO. The SWOT analysis of the company can serve to point out their strengths, weaknesses, what they can d and what they cannot do. It will help them to identify the areas of improvement(Weiblen and Chesbrough 2015). 1.2 Research question(What is the specific research question they should focus on? What information is required to answer the management problem?). They should focus on why their sales are declining? Why the customers are leaving and never visiting again? Are they lacking in their customer services or in their retail services? What can retail their potential customers and increase their growth? The information of why the customers are being dissatisfied can be received by conducting a customer survey. The feedbacks of the customers will allow them to modify the areas where the customers want the change. The information from the other stores also needs to be there to get a clear view f the scenario. 5
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1.3 (Information/Research) Objectives(Given the research question, what are the smaller sub- questions or information objectives related to this research question that should be answered? As a guide, minimum of three and no more than six). What is the resource based strength of the company? Do they have proper store setting ? Are the customer queries and requests responded on time ? Why do the customers want to leave the store as soon as possible ? 10 1.4 What is the subject area of business management that is relevant to this problem?(ie what is your parent discipline e.g. marketing, HRM, strategy etc) and what are the keywords to use when conducting a literature search of research that has been done about this issue? (about 10 words) Subject area - HRM …………………………… Keywords……… The human resource management, the management style of a store manager , the customer oriented service, the retail services, the store environment, the customer satisfaction , customer retention . 5
Answer 2: Singaporean Management Consulting Company AnswersMax Marks 2.1 Problem and management decision(what is the specific problem or issue to be investigated? What is the company seeking to find out? What do they not know, what management decisions will be made?) The problem is the fast changing trends in Singapore’s and in the global context. The competitors are rising fast and in such situation, organizations must implement innovative initiatives to move at par with the market conditions. The company is seeking to find out how innovation can be brought within the organization and in what way it can help the company gain the competitive advantage among the market rivals(Schweisfurth and Raasch 2015). They do not know about how to implement the initiative of innovation and how it will impact on the members. They also do not know how the innovation will support their profitability, reputation and profitability. The management decision will be made on knowing what the staffs’ perceptions are and what they think about the current innovation climate of the organization. Overall, the staffs’ opinions and perceptions on innovation will be considered before stepping into any innovative activity. It is because the current situation of the company has to be perfoecr for starting any innovative approach. 5 2.2 Research question(What is the specific research question they should focus on? What information is required to answer the management problem?). The research question they must follow is what can be the innovative initiative which will help to keep up with the competitors and the fast changing trends in the management. In order to conduct an innovative approach the perceptions of the staffs has to be understood. Their feedback will inform whether the company has done innovation earlier in any way or not. The information about the success rates of the innovation also needs to be known and how it was designed. 5 2.3 (Information/Research) Objectives(Given the research question, what are the smaller sub- questions or information objectives related to this research question that should be answered? As a guide, minimum of three and no more than six). What services the company provides to the customers ? What are the strategic ways of dealing with the customers ? Has the company earlier tried to work in some innovative way? How much successful the approach has been ? What are the strengths of the company based on which it can innovate ? 10
2.4 What is the subject area of business management that is relevant to this problem?(ie what is your parent discipline e.g. marketing, HRM, strategy etc) and what are the keywords to use when conducting a literature search of research that has been done about this issue? (about 10 words) Subject area…………innovation and development ……………………… Keywords… The innovation strategies , corporate innovation strategy, organizational communication , agile development , design thinking , open innovation , disruptive innovation ……………………… 5
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Answer 3: Fast Moving Consumer Good (FMCG) Supply Chain AnswersMax Marks 3.1 Problem and management decision(what is the specific problem or issue to be investigated? What is the company seeking to find out? What do they not know, what management decisions will be made?) 5 3.2 Research question(What is the specific research question they should focus on? What information is required to answer the management problem?). 5 3.3 (Information/Research) Objectives(Given the research question, what are the smaller sub- questions or information objectives related to this research question that should be answered? As a guide, minimum of three and no more than six). 10 3.4 What is the subject area of business management that is relevant to this problem?(ie what is your parent discipline e.g. marketing, HRM, strategy etc) and what are the keywords to use when conducting a literature search of research that has been done about this issue? (about 10 words) Subject area………………………………… Keywords………………………… 5
Answer 4: Health Festival AnswersMax Marks 3.1 Problem and management decision(what is the specific problem or issue to be investigated? What is the company seeking to find out? What do they not know, what management decisions will be made?) The specific problem or issue is that the local, the regional and the international tourists are not aware of why they should visit the local health festival. When the visitor’s motivation is not known to them, the effective tourism marketing strategies cannot be established(Kumar 2016). Different tourists have different motivation having socio - cultural, demographic characteristics or few situation specific characteristics. The visitors’ motivation plays a crucial part in the developing visitor specific strategies. The company is not aware of this fact that the visitors do not have the strong ground on which they would come to visit the local health festival(Johnson et al. 2018). The management decision will be made on how the visitors’ perceptions can be known along with their motivating factors. 5 4.2 Research question(What is the specific research question they should focus on? What information is required to answer the management problem?). The specific research question on which they should focus is that how the visitors’ motivation can be known and how the marketing strategies can be established addressing the visitors’ specific demands. The information of what kind of tourists is targeted in the local, regional and international level will play a crucial part in the management of the main issue. The interests of the visitors ‘ can be easily known when their demographic , psychographic , academic background will be known. 5 4.3 (Information/Research) Objectives(Given the research question, what are the smaller sub- questions or information objectives related to this research question that should be answered? As a guide, minimum of three and no more than six). What are the goals of the health festival? What are the target markets of the festival? What are the benefits of the health festival one can have? What are the visitors’ expenses of visiting the health festival ? 10
4.4 What is the subject area of business management that is relevant to this problem?(ie what is your parent discipline e.g. marketing, HRM, strategy etc) and what are the keywords to use when conducting a literature search of research that has been done about this issue? (about 10 words) Subject area……………………marketing …………… Keywords…………………digital marketing , the market research , market cap , market segmentation , target market, visitor’s motivation , advertising and brand awareness, promotion……… 5
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Scenario 5: Human Resources AnswersMax Marks 5.1 Problem and management decision(what is the specific problem or issue to be investigated? What is the company seeking to find out? What do they not know, what management decisions will be made?) The issue is that the hospital staffs are frequently falling off sick. He work related stress they are facing are leading them towards fatigue, burnouts and other work related stress. It is disrupting the well –being of the healthcare service sector(Bridgeman, Bridgeman and Barone 2018). The company is seeking to find out the ways by which these issues can be addressed. Since there are limited programs to address this issue, e conditions are worsening day by day(Howlett et al. 2015). They do not know that the major reasons behind such situation are the pressure on the employees for viewing the residents, sudden urge to learn the new IT systems. These factors are collaboratively resulting in the staff burnouts. The management decision will be how to find out the reasons behind the staff’s turnover and challenges in the particular organization. It is necessary for designing proper programs to address their concerns and make their duties easy and comfortable. 5 5.2 Research question(What is the specific research question they should focus on? What information is required to answer the management problem?). The specific research question must be focused on knowing more about the work pressure impacting on the staff burnouts. In order to answer the management problem, the information on what are the existing staff well –fare programs the organization is currently having has to be available. Moreover, what is the service style of the aged care facility also needs to be known. The working hours of the staffs and what is the work –life balance related issues they are facing must be known too. 5 5.3 (Information/Research) Objectives(Given the research question, what are the smaller sub- questions or information objectives related to this research question that should be answered? As a guide, minimum of three and no more than six). What are the working conditions in the aged care facility of the particular organization? Are there working flexibility for the aged care service providers? What are the staffs concerns related to the working environment and work pressure ? What can make them work comfortably? 10 5.4 What is the subject area of business management that is relevant to this problem? (ie what is your parent discipline e.g. marketing, HRM, strategy etc) and what are the keywords to use when conducting a literature search of research that has been done about this issue? (about 10 words) Subject area……………HRM…………………… Keywords……ethical climate in the healthcare , staff turnover, excessive work pressure , disruption in the work-life balance , employee dissatisfaction …………………… 5
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