LSBM300 Business Research: Operations & Profitability Analysis

This business research project proposal investigates the factors influencing the operations and profitability of beauty salons in the UK. It aims to analyze essential operational aspects, evaluate the business environment's impact, and identify strategies for performance and profit improvement. The research rationale emphasizes the significance of understanding these factors for organizational success and competitive advantage. The methodology outlines primary and secondary data collection methods, including qualitative and quantitative research approaches. The study references previous research on business process management, environmental factors, and competitive strategies to provide a comprehensive analysis of the beauty salon industry.

Business Research Project

Table of Contents
The Proposal Template....................................................................................................................1
REFERENCES..............................................................................................................................10

The Proposal Template
Student number
Please state which tutor(s) you discussed your proposal with, and the forum you used (e.g.
face to face, email, MS Teams)
Title (maximum 20 words)
Analysis of different factors on business operations as well as profitability.
Terms of Reference (approx. 400 words)
Research aims – To investigate the different aspects that needs to be consider by Beauty salons
in order to enhance its practices as well as increase profitability. Research proposal for Beauty
salons, UK
Research objectives –
• To analyse various operations of the Beauty salons that is essential for successfully
functioning.
• To evaluate the different aspects of business environment that needs to be consider by
company while conducting its Beauty salons practices.
To identify different ways and approaches that could be consider by Beauty salons in order to
increase it performance as well as earn more profits.
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Research question
• What are various operations of the Beauty salons that is essential for successfully
functioning?
• What are the different aspects of business environment that needs to be consider by
company while conducting its Beauty salons practices?
• What are the different ways and approaches that could be consider by Beauty salons in
order to increase its performance as well as earn more profits?
Rationale – This research is significant in order to analyse and determined the different aspects
which are related to Beauty salons as well as lead to have significant impact over organisational
practices. This is crucial research in order to identify different elements and operations that
needs to be consider by individual for performing future Beauty salons practices. It is important
that company is performing a proper research while conducting business activities as well as
enhancing future Beauty salons practices. This research will help investigator to identify the
different operations of business that will lead to successfully functioning of business as well as
help in overall improvement of organisation. through this research practices, investigator will
have accurate information about the different factors of business environment that is affecting
organisation along with its smooth functioning. The rationale of this research consist of
identification of different ways that will help researcher to perform Beauty salons practices in
effective and efficient manner in order to improve its profitability.
State the scope of your study – The scope of this study is that there are number of elements and
aspects that are crucial part of business as it will lead to have major impact over successful
functioning of Beauty salons. this will lead to have major impact on functioning of organisation
as well as assist respective business to gain competitive edge over other rival companies. It has
been determined that by determining different business environment aspects respective company
will be able to develop effective and strong strategies which is beneficial to attaining desired
goals along with this help in enhancing overall business practices.
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Relation to previous research
• To analyse various operations of the Beauty salons that is essential for successfully
functioning.
As per the views of Hanh Truong (2021) it has been determined that there are different kinds of
operations with in organisation that will lead to have major impact on its Beauty salons as well
as its practices It is essential that individual who is focusing on opening new business to have
accurate information about the various business operations so that they can carry out required set
of activities in right and proper manner. Business process management is a strategy that
associations utilize to supervise their Beauty salons processes to guarantee they are operating
without a hitch. It can assist with process improvement by helping management audit and can
handle authoritative processes to guarantee they are productive and compelling. Orgaisation that
is considering business process management programming to monitor and control computerized
and non-robotized business processes and to assist with further developing their management
processes. It has been determined that management is one of the crucial and essential operational
practice of business which needs to be performed in appropriate manner. Management processes
measure, monitor and control the exercises identified with business methods and frameworks.
Instances of management processes incorporate inner interchanges, administration, strategic
planning, budgeting, and foundation or capacity management. Through proper ad accurate
management of business respective organisation will be able to timely complete all task and
practices of business as well as focus on attaining desired goals.
• To evaluate the different aspects of business environment that needs to be consider
by company while conducting its Beauty salons practices.
According to the views of Siddhi Kamble (2021), it has been determine that there are different
aspects of business environment that will lead to have major impact over Beauty salons as well
as influence the way of functioning business practices. It is essential that company is considering
and evaluating the different factors of business environment which will lead to have significant
impact over business. Business environment refer to those aspects of the environmental factors
of business enterprise which influence or impact its tasks and decide its viability. Business
environment can be classified into two parts that is internal and external business environment.
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This will lead to have influence over the way business in performing its operations as well as
accomplishment of desired goals. Financial capability factors identify with the accessibility,
utilization and management of assets and all unified aspects that have a course on an Beauty
salons capacity and its capacity to carry out its procedures. It is important factor that needs to be
taken into consideration by organisation so that it is able to develop appropriate strategies of
business according to the financial capabilities of business. Marketing capability factors identify
with the valuing, advancement and dissemination of products or services and every one of the
partnered aspects that have a direction on an Beauty salons capacity and capacity to execute its
systems. Marketing potential of new business will lead to have significant impact on its overall
sales and profitability so this environmental factor needs to be consider by organisation. The
economic environment factors straightforwardly affect the businessman so businessmen of
Beauty salons should filter the economic environment and make ideal moves to manage these
environments. Economic environment might put requirements and may offer freedoms to the
businessman. There are different economical aspects which needs to be taken into consideration
so that company can carry out its business practices appropriately. World of politics comprises
every one of the variables identified with government undertakings like sort of government in
power, behaviour of government towards various gatherings of social orders, strategy changes
carried out by various governments and so on. The world of politics incredibly affects the
business exchanges so businessman of Beauty salons should check this environment cautiously.
Social Environment comprises of the traditions and customs of the general public where business
is existing. It incorporates the standard of residing, taste, preferences and education level of the
people residing in the general public where business exists. For successfully operating business
activities as well as attracting more customers social factors needs to be taken into consideration.
• To identify different ways and approaches that could be consider by Beauty salons
in order to increase its performance as well as earn more profits.
As per the views of Mitchell York (2021), it has been identified that there are different ways as
well as approaches which needs to be taken into consideration by organisation with the motive of
enhancing and improving its Beauty salons practices along with this earning more profits. It has
been analysed that organisation needs to carry out its practices in such a manner that it is able to
gain competitive edge over its rival companies because Competition kind the best outcomes. In
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order to be fruitful, it is crucial that organisation can not be unenthusiastic to study and gain from
your competitors. All things considered, they might be accomplishing something right that you
can execute in your business to get more cash-flow. It has been identified that in order to make
Beauty salons progress you should be coordinated. It will assist you with wrapping up
responsibilities and keep steady over action items. A decent method for being coordinated is to
make a plan for the day every day. It is crucial for organisation to complete everything from the
scratch it off to its turndowns. This will guarantee that you're not failing to remember anything
and finishing every one of the responsibilities that are crucial for the endurance of your business.
Continuously be searching for ways of working on Beauty salons business and make it stand out
from the competition. Perceive that individual don't know it all and be available to novel
thoughts and various ways to deal with Beauty salons business. it is important for organisation to
be consistent while performing and conducting business practices. Consistency is a critical part
to bringing in cash in business. business need to continue to do what is important to be fruitful all
day, every day. Through this organisation will be able to carry out its practices in appropriate
manner. This will make long term positive habits that will assist you with bringing in cash over
the long term. This assist in accomplishing desired goals and objectives of business.
Methodology
Methodology is consider as the very crucial and important part of this research as through this
investigator is able to determine the ways for gathering appropriate information. This can be
describe as the process that is consider by analyst to track down right and precise data about the
theme. It is fundamental that scientist is thinking about suitable exploration techniques for
gathering data. There are several ways and approaches that needs to be consider by researcher in
order to accomplishing desired goals. Research methodology includes information about the
different methods and approaches that needs to be taken into consideration for successfully
conducting practices.
Data collection method – This is refer as the way that assists organization with gathering
information and data which is pertinent to the point. This can be describe as the process or way
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which is consider by researcher in order to collect accurate and appropriate data so that desired
research outcome could be gathered. It is significant that exact information assortment strategies
has been viewed as to achieve wanted results. Information and data collection method consist to
primary and secondary methods that is mention below in detail.
• Primary method – This incorporates direct gathered data which is according to the topic
of the research. It has been distinguished that researcher which is gathering data through
essential technique is known as the owner of the information. Primary method of data collection
includes different sources such as survey, questionnaire and so on.
• Secondary method – Secondary method is consider to be very effective and useful
method of data collection that will help researcher to determine needed information in less time
and cost. This kind of information assortment strategy can be portray as the manner by which
scientist can gather data that has been accumulated in the essential information. There are a few
sources which is remembered for optional technique like books, journals, news papers, online
information and so on.
Research approaches – There are different research approaches that is helpful for researcher to
analyse and evaluate the information in proper and accurate manner. This includes qualitative
and quantitative approaches of collecting and analysing information.
Qualitative research – This type of research is focusing on collecting data which includes
theories and concepts that is significant in order to analyse appropriate information about the
topic as well as determining accurate. Through this researcher will be able to gain in depth and
accurate information about the investigation topic.
Quantitative research – This type of research can be presented into form of numerical data as
well as assist researcher to find relevant and accurate information about the research topic. This
is consider to be more systematic and accurate way of gathering information.
Thus, in the research for the business proposal of Beauty salons, both primary and secondary
research have been considered that will help in collecting appropriate information. In this
researcher will gather information from the 30 customers of Beauty salons so that relevant data is
gathered.
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Timeline
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REFERENCES
Donthu, N., Kumar, S. and Pattnaik, D., 2020. Forty-five years of journal of business research: a
bibliometric analysis. Journal of Business Research, 109, pp.1-14.
Lude, M. and Prügl, R., 2021. Experimental studies in family business research. Journal of Family
Business Strategy, 12(1), p.100361.
Easterby-Smith, M., Jaspersen, L.J., Thorpe, R. and Valizade, D., 2021. Management and business
research. Sage.
Kushins, E.R. and Behounek, E., 2020. Using sociological theory to problematize family business
research. Journal of Family Business Strategy, 11(1), p.100337.
Khan, M.A. and et.al., 2021. Value of special issues in the journal of business research: A bibliometric
analysis. Journal of Business Research, 125, pp.295-313.
Kurt, Y. and Kurt, M., 2020. Social network analysis in international business research: An assessment of
the current state of play and future research directions. International Business Review, 29(2), p.101633.
Beugelsdijk, S., Ambos, B. and Nell, P.C., 2020. Conceptualizing and measuring distance in international
business research: Recurring questions and best practice guidelines. In Research methods in international
business (pp. 449-498). Palgrave Macmillan, Cham.
Tinh, D.T., Thuy, N.T. and Ngoc Huy, D.T., 2021. Doing Business Research and Teaching Methodology
for Undergraduate, Postgraduate and Doctoral Students-Case in Various Markets Including
Vietnam. Ilkogretim Online, 20(1).
Donthu, N., Kumar, S. and Pattnaik, D., 2020. Forty-five years of journal of business research: a
bibliometric analysis. Journal of Business Research, 109, pp.1-14.
Lude, M. and Prügl, R., 2021. Experimental studies in family business research. Journal of Family
Business Strategy, 12(1), p.100361.
Babin, B.J., Ortinau, D.J., Herrmann, J.L. and Lopez, C., 2021. Science is about corroborating empirical
evidence, even in academic business research journals.
Khan, M.A. and et.al., 2021. Value of special issues in the journal of business research: A bibliometric
analysis. Journal of Business Research, 125, pp.295-313.
Online
The 3 Major Types of Business Operations. 2021. [Online]. Available through: <
https://altametrics.com/en/business-operations/3-types-of-business-operations.html>.
Business Environment – Definition, Components, & Features. 2021. [Online]. Available
through: < https://www.feedough.com/business-environment-definition-components/ >
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6 Ways to Increase Profits For Your Small Business. 2021. [Online]. Available through: <
https://www.thebalancesmb.com/steps-to-increase-small-business-profits-1200720 >.
Ethical Review Form: Part1
Part 1 needs to be completed by all Business Research Project students.
Please read the following two statements and place an X in the area indicated for the statement
that most accurately represents your research intentions.
Student Statement Insert X Student Action
Statement
1
I have read the above information. I
confirm that my research does not include
study on human participants.
You do not need to complete Part 2 of
this form. Ethics approval is not
required.
Statement
2
I have read the above information. I
confirm that my research does involve the
study on human participants.
X Please proceed to complete Part 2 of this
form.
Proposals that are submitted without the completed Ethical Review Form will not be
graded.
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