Business Research Methodology for Desklib Online Library

BUSINESS RESEARCH METHODOLOGY

Table of contents
Assessment task 1 3
1. Reviewing job description and plans, policies, goals and procedures of the organisation 3
2. Establishing personal and team goals 3
3. Developing KPIs 4
a. Use of KPI to measure performance 4
b. Maintaining performance under contingencies and conditions 4
c. Effect of personal traits, strengths and weaknesses on work plans 5
4. Activities to advance work goals 5
5. Work plan 6
6. Describing: 8
a. Serving as positive role model 8
b. Maintaining work-life balance, managing stress and maintaining health 8
Assessment task 2 10
1. Assessing personal knowledge and skills against the competency standards 10
2. Performance feedback 10
3. Professional development plan 12
a. Professional development opportunities 13
b. Networking activities 14
Bibliography 15

Assessment task 1
1. Reviewing the job description and plans, policies, goals and procedures of the
organisation
As a CEO, the responsibilities are to work along and coordinate the entire operation and
business with a board of directors. This means setting the overall direction of the business
strategically along with necessary risk management with authorisation to undertake huge
financial risks and transactions. As a business enterprise attributes such as quality, customer
value and people are the cherished values. The CEO is responsible for setting mission and
vision and setting strategic decisions like brand building and in-depth market research. The
company plans to engage with customers through promotional activities supported by market
research by conducting the quarterly surveys on a scale of the customer satisfaction which will
help in evaluating the marketing data that determines the opportunities1. Building a measurable
reputation indicated by customer satisfaction levels is also an objective of the company.
Supplier quality audits, regular interactions with them while managing resources and customer
relationship systems is vital plans for future operations. Job opportunities will be provided and
necessary support and training shall be imparted by mechanism the of performance
management. One of the desired objectives is to reduce the cost of operations and channelize it
to increase sales revenue.
2. Establishing personal and team goals
Staying on target as an individual or as a team is an important goal and this requires good
communication on behalf of the leader and the team’s ability to support good decisions. A
personal goal should be dream big and be able to look into future to make guesses in which
way the business shall progress to achieve that. However, if these long-term plans are not
worked, the company may doom and this is why it is necessary to break these into milestone
events which will be only possible if the team comes together with their effort and hard work to
navigate through the ever-changing world of customer needs and expectations. The team needs
to work with the leader and participate in quarterly or yearly reviews that will help in determining
the operational shortcomings and requirements. Regular monitoring will be required to deal with
the regular business crisis situations that the company may face2.
1 Quinlan, Christina, Barry Babin, Jon Carr, and Mitch Griffin. Business research methods.
2 Eriksson, Päivi, and Anne Kovalainen. Qualitative methods in business research: A practical guide to
social research.

Goals Attribute
Develop the customer handling team Specific
Resolving outstanding customer issues within
2 weeks
Measurable
To establish the company as the market
leader in the sector
Achievable
Team meeting to resolve issues related to
team goals
Realistic
Reviewing details of problem shooting every
week or bi-weekly.
Time-bound
3. Developing KPIs
a. Use of KPI to measure performance
For achieving market research and customer engagement one of the key indicators is the
completion and review of the customer's surveys. Brand building requires achieving
benchmarks in market categories, positive image, evaluating the frequency of complaints and
monitoring the products and services bought or returned3. Training can be easily accomplished
by recording frequency the of accidents or injuries, keeping a record of absentees, monitoring
anti-discrimination complaints. The performance will be evaluated in the performance
management process and indicators such as a number of completed coaching sessions and
operational related programmes. Cost management requires monitoring wages, cost of using
agency services, consultation fees and wastage. A set target of expense and cost of goods sold
will be excellent indicators of performance management. Targets pertaining to revenues and
profits are mandatory to evaluate the market position and increase the sales revenue by
exploiting the market opportunities.
b. Maintaining performance under contingencies and conditions
All the plans regarding contingency should be started during the process of annual budgeting as
this helps in establishing the baseline of the expected performance. This also important in
setting up the performance parameters. This is necessary because budgets are made by taking
into account the key assumptions made on basis of the competitive environment. The key to
acting in a contingency or similar condition are motivation and financial motivation is the most
3 Eriksson, Päivi, and Anne Kovalainen. Qualitative methods in business research: A practical guide to
social research.