Impact of Intellectual Capital on the Financial Performance of Australian Banks

This research proposal evaluates the impact of intellectual capital on the financial performance of banks in Australia. It includes a literature review, research methodology, and recommendations for improving intellectual capital management.

Running head: APPLIED BUSINESS RESEARCH
Applied business research
Name of student
Name of University
Author note

1APPLIED BUSINESS RESEARCH
Executive summary
The purpose of the research proposal was to determine the impact of intellectual capital
on the financial performance of banks in Autstralia. The research proposal evaluated the various
important aspects of intellectual capital and its components including the human capital,
structured capital and how it had been interconnected with the knowledge management practices
for the creation of value within the Australian banking industry. The research problem was
focused on the problems that might have arisen due to the lack of proper intellectual capital
management and this could even deteriorate the financial performance of the banks in Australia.
The objectives were designed according to the scope of the research and its impact on the value
creation by resolving the issues experienced during the research too. The literature review
provided explanations of the link between intellectual capital and knowledge along with its
impact on the banks in Australia, The research methods included the research designs,
approaches and strategies followed to manage proper collection and analysis of data, furthermore
derive positive outcomes for accomplishing the objectives of the research fruitfully.
Table of Content

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s
Chapter 1: Introduction....................................................................................................................4
1.0 Introduction............................................................................................................................4
1.1 Research background.............................................................................................................4
1.2 Research rationale..................................................................................................................5
1.3 Research aim..........................................................................................................................5
1.4 Research objectives................................................................................................................5
1.5 Research questions.................................................................................................................6
1.6 Research structure..................................................................................................................6
Chapter 2: Literature review............................................................................................................7
2.0 Introduction............................................................................................................................7
2.1 Intellectual capital potential in knowledge economy.............................................................8
2.2 Intellectual capital impact on the banking performance......................................................10
2.3 Various components of the intellectual capital....................................................................11
2.4 Intellectual capital assets and knowledge management practices contributing to the value
creation.......................................................................................................................................13
Chapter 3: Research methodology.................................................................................................14
3.0 Research philosophy............................................................................................................14
3.1 Research approach...............................................................................................................15
3.2 Research design....................................................................................................................15
3.3 Data collection.....................................................................................................................16
3.4 Data analysis........................................................................................................................16
3.5 Sample size..........................................................................................................................17
3.6 Sampling technique..............................................................................................................17

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3.7 Ethical consideration............................................................................................................17
3.8 Reliability and validity.........................................................................................................18
4.0 Action plan...............................................................................................................................18
References......................................................................................................................................21

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Impact of intellectual capital on the financial performance of the Australian banks
Chapter 1: Introduction
1.0 Introduction
The research is conducted to focus on the various concepts of intellectual capital and how
it is related to the impact on financial performance of the banks in Australia based on the
recommendations made by Hyane Royal Commission. The Intellectual capital is the intangible
value of a business that includes the people working there, value of relationships and other
business processes that are associated with the additional of value and improvement of financial
performance within the banking sector in Australia. The intellectual capital includes combining
the intangible assets to drive the best value and focus on knowledge management to formulate a
strategic vision through various exploration, exploitation, measurement and disclosure
(Nimtrakoon 2015). The intellectual capital is used and managed for measuring the wealth of the
financial institutions and check whether the enterprise value exceeds the value of the tangible,
i.e., both physical and financial assets or not.
1.1 Research background
The background of research focuses on the impact of intellectual capital on the value
addition of the Australian banks. The financial institutions nowadays want to stay afloat in the
competitive business environment and so it is important to enable innovation, which will be
possible through the proper management of intellectual capital. The intellectual capital can bring
innovation as well as allow the banks in Australia to ensure that the financial and banking

5APPLIED BUSINESS RESEARCH
services delivered can keep the customers satisfied. Based on the Australian context, the research
background elaborates the importance intellectual capital and its impact on the value addition to
the Australian banks (Mention and Bontis 2013). The intellectual capital includes both physical
and financial assets that can not only add value, but also improve the financial performance
through focus o knowledge economy and information management. The intellectual capital
within the company also leverages the assets and optimizes the stock price that can help in
improving the financial performance through addition of value to the financial enterprises
(Khalique et al. 2013).
1.2 Research rationale
The research rationale is actually the problem of the research considering the lack of
intellectual capital and its management, which can deteriorate the financial performance as well
as make the banks unable to attract and retain customers in large numbers. The intangible value
of business including the relational capital, structural capital and other intangible assets could
create problems for the company and that has been focused on while determining the rationale of
the research. The research rationale will also demonstrate the extent to which the intellectual
capital can add value to the Australian banks (Yalama 2013). Without proper management of the
intellectual assets and capital, innovation and creativity will not be promoted, which can further
create difficulty in adding value to the banks in Australia.
1.3 Research aim
The main aim of the research is to determine the extent to which the intellectual capital
can add value to the banks in Australia

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1.4 Research objectives
 To identify the relationship between the intellectual capital and financial performance of
the banks in Australia
 To evaluate the impact of intellectual capital on the financial performance of the
Australian banks
 To assess the extent to which the intellectual capital can add value to the banks in
Australia
 To provide suitable recommendations for improving the management of intellectual
capital and ensure adding more value to improve the financial performance within the
banking sector of Australia
1.5 Research questions
What is the relationship between the intellectual capital and the financial performances of the
banks within the Australian banking sector?
How can the intellectual capital create an impact on the additional of value to the Australian
banks?
To what extent the major financial activities in business influence the addition of value and
financial performance improvement within the banking sector?
What necessary measures are recommended to improve the financial performance and addition
of value for the Australian banks through the management of intellectual capital?

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1.6 Research structure
Introduction – The introductory chapter provides a brief overview of the research topic and the
link between the intellectual capital and value addition along with its impact on the financial
performance of the Australian banks. The introduction chapter includes the background of
research, problem of research, objectives and questions too, which can help in conducting the
hypothesis test as well.
Literature review – The literature review will present information about the different variable
and link those to achieve the research goals and objectives with ease. The assessment of
literature data and information will be done with the use of four major sources and articles that
can help to conduct the research much more effectively.
Research methodology – The research methodology consists of the various philosophies,
approaches, designs and approaches undertaken for conducting the research with ease and
efficiency. The ways of collecting and analyzing data will be illustrated here as well along with
the ethical considerations and validity of research. A Gantt chart will be provided as well for
determining the time line for the research methods.
Conclusion and recommendations – The conclusive chapter will allow for linking the research
objectives and derive positive outcomes, furthermore provide relevant recommendations for
conducting the research effectively and in an appropriate way too.

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Chapter 2: Literature review
2.0 Introduction
The intellectual capital defines the intangible assets, human and structured capital along
with the various technologies, customer related information, brand image and reputation and
corporate culture. All these intangible assets were considered as important components required
to measure the skills, abilities, knowledge and competencies of the financial institutions (Saeed,
Gull and Rasheed 2013). The intellectual capital demonstrated the technologies, customer related
information, brand image and reputation along with the corporate culture maintained for
enhancing the organization’s financial performance. The intellectual properties and technologies
were adopted by the organizations as well for enhancing the competencies and using professional
skills to manage the customers, furthermore create value and remain competitive in the market
(Ulum, Ghozali and Purwanto 2014). The individual and organization’s knowledge were
essential and considered by the financial institutions to contribute to the sustainable competitive
advantage and creation of wealth within the Australian banking sector too. Pulic (1998) though
stated that the market assessment should also be done for understanding the scenarios and
analyze the strengths of the companies in terms of financial knowledge and information related
to the management of intellectual capital in Australian banking sector (Pulic 1998).
2.1 Intellectual capital potential in knowledge economy
The Australian economy is considered as one of the most stable economies with very low
rate of unemployment. The Australian banking and financial sectors have grown and is
considered as the second largest sector in terms of market capitalization, consisting of the banks,
credit unions, banks, insurance and superannuation companies. According to Joshi et al. (2013),

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the business processes require high level of skills, knowledge to manage innovation and ensure
proper interaction between the personnel and customers (Joshi et al. 2013). Thus, it was
important to make investments for the development of human and intellectual capital to enhance
the corporate knowledge and achieve sustainable competitive advantage in business. The core
competencies required to ensure corporate growth and development within the Australian
banking sector were intellectual capital and knowledge management. According to Pulic (1998),
knowledge economy enables proper distribution, production and innovation for facilitated the
growth and creation of value and wealth for the Australian banks. Based on the responses, it
could be understood that the human capital, relational capital and structural capital were
important components of the intellectual capital that allowed to add value for the Australian
banks and even allowed to gain sustainable competitive advantage in businesses (Pulic 1998).
The measurement of intellectual capital could also influence the efficiency of investments
decisions made, furthermore maintain proper value of the financial reports in the knowledge
economy. El-Bannany (2008) stated that the human capital could create a major impact on the
financial performance and profit level achieved by the banks. The intellectual capital’s human
capital could not only improve the financial performance of the organizations, but would also
establish a positive relationship between the intellectual capital and business performance (El-
Bannany 2008). The intellectual performances of the banks were stored in the Australian Stock
Exchange that established positive relationship between the intellectual capital and financial
returns, furthermore determined the importance of value derived from return on assets and equity
(Beattie and Smith 2013).
The human capital is the combining of skills, knowledge, behaviors, social and
personality attributes along with innovation and creativity skills to perform labor and produce the

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desired economic value required to become successful in business. The human capital includes a
dedicated and skilled workforce that can perform to the potential to achieve the desired project
outcomes with ease and effectiveness.
It was found that the research problem included lack of proper management of
intellectual capital, which hindered the creation of wealth for the Australian banks and even
deteriorated the financial performance. The knowledge based economy was also affected by lack
of intellectual capital management, which further contribution to the lack of creation of value,
innovation and openness required to facilitate the growth and development of the Australian
financial sector (Kianto et al. 2014). Based on Pulic (1998), the intellectual capital should be
managed properly with the involvement of employees who must be committed to their
knowledge and skills delivery through management of proper organizational infrastructure and
managing good relations with others within the workplace (Pulic 1998). This would enhance the
knowledge economy of the organization as well as manage proper human capital and structured
capital to foster innovation and creativity for the betterment of value creation and sustainability
in business. Cahill et al. (2010) stated that the banks became knowledge intensive through
successful management of intellectual capital and smoothened up the flow and distribution of
information related to the financial matters for ensuring strategic growth and development
(Cahill, Joshi & Sidhu 2010). Due to the growth and development of knowledge economy within
the financial sector, it was necessary to conduct financial measures, furthermore helped in
maintaining an appropriate balanced scorecard. Based on the responses of Cahill et al. (2010), it
was also proved that the intellectual capital not only resolved the issues regarding lack of
financial performance and wealth creation, but also created huge improvements in the designing
of IC policies and procedures for improving the financial performance (Joshi et al. 2013).

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2.2 Intellectual capital impact on the banking performance
According to Zou & Huan (2011), the intellectual capital created positive impacts on the
financial performance of the banks and allowed the banks to foster creativity and innovation for
achieving success in business. The intangible assets including the rights of intellectual property,
relationship and integrated intangible assets had already created an impact by adding capital
knowledge, which fostered innovation and improved the organization’s ability to enhance the
financial performance of the banks in Australia (Zou and Huan 2011). Based on the responses of
Al-Musali and Ismail (2014), the intellectual capital established knowledge, information and
managed the intellectual properties possessed by the banks to create wealth and at the same time,
enhance the organizational experience through integration of newer technologies and managing
better relationships with the customers too. Due to this, the professional skills and knowledge
also improved, which further created ease and convenience in making the Australian banks more
competent within the marketplace (Al-Musali and Ismail 2014). The contribution of employees
was huge and thus the skills and abilities of the employees and the organizations were critical to
the success and value creation at the banking sector. On the other hand, Dumay (2016) stated that
the intangible assets owned by the company were not only confined to the traditional accounting
procedures and accounting concepts, rather it was divided into four major categories including
the intellectual-property-right intangible assets, contract right intangible assets, relationship
intangible assets and integrated intangible assets (Dumay 2016). According to El-Bannany
(2008), the intelelctual capital was alinged with the human capital and knwledge of employees
and the roganisational itself, which created new ideas for making investments and drive the value
ceration. This would not only bring staretgic growtha nd development, but could also foster the
level of innvoation and creativity, furthermore make the Aystralian banks capable enough to

12APPLIED BUSINESS RESEARCH
adopt changes and improve the effectiveness of business functions within the financial sector in
Australia (El-Bannany 2008). The intellectual capital was thus considered as an important
intangible asset that had been possessed by the financial sectors in Astralia to improve the
knowledge economy, furthermore improve the financial performance and gains ustaimbale
competitive edge over its competitors. Intellectal capital held good wealth ccreation skills and
abilities rquired to promote the business functioning and achieve the desired reuslts in trems of
better financial eprformabce within the banking sector of Australia (Beattie and Smith 2013).
2.3 Various components of the intellectual capital
Based on the responses of Dumay and Garanina (2013), the intellectual capital comprises
of the highly value added capitalized knowledge components that are necessary for managing the
social reproduction cycle and enhance the knowledge economy. The intellectual capital
emphasized on the human capital, which could bring enhanced work performance and ability to
improve the knowledge and skills, furthermore reflect the organizational capacity (Dumay and
Garanina 2013). There had been application of skills ad knowledge, which enhanced the wealth
creating abilities and combined all the knowledge elements from the intellectual capital. By
measuring the intellectual capital, it became easy for analyzing the performances of the banks by
concentrating on the here major indexes including the effectiveness of capital employed,
efficiency of human capital and structural capital effectiveness as well. According to Beattie and
Smith (2013), the higher the value added intellectual capital, the better is the financial
performances of the Australian banks (Beattie and Smith 2013). It was found that there were
other researches that showed that the human capital of the managers of the banks helped in
controlling the technological aspects and fostered innovation for enhancing the knowledge
economy and capital management. The human capital not only created an impact on the

13APPLIED BUSINESS RESEARCH
performance of the banks in Australia but also the incentives on human capital property rights
improved the performances of the businesses largely (Sydler, Haefliger and Pruksa 2014).
Based on Ling (2013), the various components of intellectual capital created positive
impacts on the knowledge management practices within the Australian banks and even managed
the assets properly so that the companies could survive during crisis situations within the
competitive marketplace (Ling 2013). The more effective the knowledge management practices
would b, the better would be to leverage the potential performances of the intellectual capital
over time. The skills, knowledge and expertise of the employees were improved at the banks by
providing them with necessary training and developmental programs, which raised their potential
and through motivation, their morale level was at the peak level. With the implementation of ICT
practices, the information and data were properly utilized and this enabled the renewal’s capital
to create an impact on the organization’s performance (Kianto et al. 2014). The significance of
intellectual capital for the banks was to compete both locally as well as globally within the
competitive marketplace. The dynamic intellectual capital could align the organizational strategy
with the business environment and obtain the innovative nature of knowledge and information
for sustaining in the competitive business environment. This would not only enhance the ability
of the organization and improve the efficiency of the intellectual assets, but would also enhance
the self renewing capability of the financial institutions, furthermore gain enough potential and
strength to master, create, innovate and become susceptible to changes within the banking sector
with much convenience.

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2.4 Intellectual capital assets and knowledge management practices contributing to the
value creation
Kianto et al. (2014) argued that the link or interconnection between intellectual capital
assets and knowledge management practices create value as well within the banking sectors in
Australia. The knowledge and capabilities are essential components of value creation at the
banks and also created scopes for the possession of knowledge, experiences, skills, technological
aspects, professional skills and customer relationship management (Kianto et al. 2014). This
helped many of the banks in different locations all over the world to gain a competitive edge in
the market and ensured proper utilization of resources to contribute to the sustained competitive
advantage in business. According to Fathi, Farahmand and Khorasani (2013), the intellectual
capital was considered as an important aspect that combined both the knowledge related
resources and intangible resources for facilitating the process of production and r the creation of
value within the Australian banking sector. The intellectual capital was included as major
organizational assets within the stock categories consisting of human capital, structured capital
and relational capital (Dumay 2016). The human capital included the skills and knowledge of the
workers, motivation and encouragement level to drive their behaviors and performances while
the structural capital included the production features required during the management of
organizational systems, processes, management of databases, patents, intellectual properties and
stable network relationships too. The knowledge based economy and potential of the individuals
working for the organizations even allowed to respond flexibly to critical situations and fulfill
the changing demands and preferences of the customers with ease and efficacy (Fathi,
Farahmand and Khorasani 2013). On the other hand, Sydler, Haefliger and Pruksa (2014) argued
that the measurement of the intellectual capital with the use of financial figures could assess the

15APPLIED BUSINESS RESEARCH
profit level that might be achieved by the banks in Australia and even draw conclusive evidence
about the feasibility of business operations and financial performance. The dynamic perspective
of the knowledge management and intellectual capital interaction was related to the managerial
activities to control the intangible assets of the firm and control the resources properly to
determine the potential of the value creation (Sydler, Haefliger and Pruksa 2014). One such
example could be the knowledge management and intellectual capital management procedures,
which could enhance the ability to leverage the intangible assets and resources, which might had
been weakened due to the lack of value creation. The workforce must consist of the ICT systems
and extensive relationship networks with a huge number of skilled and expert workers who
should be cautious about the management approaches and then focus on delivering value for the
benefit of the Australian banks (Zouand Huan 2011).
Chapter 3: Research methodology
Research philosophy
In order to conduct a research, the researcher adopts a particular philosophy. As a matter
of specification, there are three types of philosophy- positivism, post-positivism and
interpretivism. Positivism refers to the projection of stable reality and projecting it from the
objective viewpoint (Taylor, Bogdan and DeVault 2015). Interpretivism refers to the subjective
interpretation of the data for delving deep into the subject matter of the research. Post-positivism
relates to the projection of the consequences after the representation of the objective viewpoint.
In this research, the researcher would choose positivism philosophy for providing the objective
opinions related to the intellectual value addition into the Australian banks. Objective knowledge
regarding the intellectual value would help in gaining insight into the customer approaches.

16APPLIED BUSINESS RESEARCH
Research approach
The researcher adopts a particular approach for carrying out the research. Inductive and
deductive are the two main approaches, which the researcher use for the execution of the
research. Inductive approach means the inferring new facts and theories from the already
established facts. On the other hand, deductive approach relates with the deduction of relevant
facts from the theories, ideas and concepts, which have been established by the scholars (Mackey
and Gass 2015). In this proposal, the researcher would select deductive approach for deducing
the facts related to the value addition into the banks of Australia. The annual report of the banks
would help in deducing the relevant conclusions towards value addition into the banks of
Australia.
Research design
Adopting a particular design helps the researcher to improve the focus towards efficient
execution of the research. Exploratory, explanatory and descriptive are the three main designs,
through which the researcher executes a research. Exploratory design relates to the attempts of
the researcher behind exploration of the unknown facts related to the research topic. Explanatory
design is the researcher’s initiatives towards explaining the minute details related to the topic of
the research. Descriptive design needs the researcher to describe the concepts related to the
subject matter of the research (Flick 2015). In this proposal, the researcher would choose
exploratory design for exploring the essential facts related to the intellectual value addition to the
banks of Australia. Online feedbacks forms provide assistance in terms of exploring the opinions
of the customers regarding the intellectual value addition.
Data collection

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The data for a research is collected mainly through primary and secondary methods. In
primary methods, there are subdivisions-quantitative and qualitative. Quantitative data is
collected through survey questionnaires. In qualitative, data is collected case studies, journals or
news articles related to the subject matter of the research. On the other hand, secondary data is
collected through the means of telephonic interviews or structured and semi-structued interviews
(Brinkmann 2014). For this proposal, the researcher would adopt primary method for data
collection on the intellectual value addition in the Australian banks. As a matter of specification,
the means of survey and experiment would be used for executing quantitative data. Journals and
articles would be used for collecting qualitative data. Survey questionnaires would be distributed
to a homogenous group of people from a heterogenous group based on which their responses
would be recorded as quantitative data.
Data analysis
The data collected for the research is analysed for deducing relevant conclusions. Primary
and secondary are the two main methods for analysing the collected data. With this, there are
subdivisions- quantitative and qualitative. Quantitative data is analyzed through the help of
charts, graphs and tables. Relevant themes are developed for analyzing the qualitative data
(Panneerselvam 2014). In this research, the data would be analyzed through SPSS and excel tool.
This would clarify the researchers’ perspectives in terms of the intellectual value addition into
the banks of Australia.
Sample size
The whole population directly or indirectly related with the research are the samples.
However, the researcher, in order to deal with the time and financial constraints, selects a certain

18APPLIED BUSINESS RESEARCH
sample size (Simonsohn, Nelson and Simmons 2017). In this research, the researcher would take
the sample size as 15 clients from different Australian banks.
Sampling technique
The samples are selected through certain criterias and techniques. These techniques are-
probability, simple and random. In the probability sampling technique, the samples are selected
by calculating the probable responses, which the samples might produce to the questions. Simple
and random techniques of sample selection are done without any calculations for coping up with
the lack of adequate time and financial resources (McCusker and Gunaydin 2015). In this
research, random and convient sampling technique would be used for gaining data from the
managers of the Australian banks regarding the intellectual value addition.
The non-probability sampling could be useful for selecting the samples based on the
accessibility and the researcher’s purposive judgment. The non-probability convenient sampling
method would allow the managers to be present for interviews at a certain time based on their
time convenience. The purposive sampling, on the other hand should help in identifying the
subjects that could best fit the research purpose and align with the research goals and objectives.
By conducting interviews with the managers, it would be easy to obtain their responses that
should be collected as qualitative data whereas the survey questionnaires were to be distributed
to a group of people for obtaining their responses, collected as quantitative data. The sample size
has been chosen as 15 clients and 4 managers of the banks in Australia.
Ethical consideration

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Consciousness towards the ethical consideration is crucial in terms of carrying out the
tasks in an efficient and effective manner. This is also applicable in terms of executing a
research. In this research, the researcher would adhere to the standards and codes of Data
Protection Act (1998). This would help the researcher to the expose liberal attitude towards the
samples. Specifically, the researcher would allow the respondents to withdraw from the survey
and interview, once they feel uncomfortable (Fletcher 2017). Along with this, the researcher
would avoid the consideration of those sites, which needs subscription or are forbidden.
Reliability and validity
The sources referred for collecting relevant data needs to be reliable and valid. Herein
lays the appropriateness of the inclusion and exclusion criteria, which the researcher needs to
follow. In the inclusion criteria, the researcher needs to include those sources, which are not
older than 10 years (Simonsohn, Nelson and Simmons 2017). In the exclusion criteria, those
sources, which have been published more than 10 years ago, needs to be excluded by the
researcher for collecting relevant data on the intellectual value addition in the Australian banks.
In this research, the researcher would include those journals and articles, which have been
published in the last 10 years. Consciousness towards this direction would reflect the reliability
and validity of the research.
4.0 Action plan
Jan-
Apr
il
May-
Augu
st
Sep-
Decemb
er
Jan
-
Apr
May-
Augu
st
Sep-
Decemb
er
Jan-
Apr
il
May-
Augu
st
Sep-
Decemb
er
First year Second year Third Year

20APPLIED BUSINESS RESEARCH
il
Activities
Collecting
information on
the topic
Developing
aims and
objectives
Preparing
questions
Applying
theories
Selecting
samples
Collecting
data from the
selected
samples
Analysing the
responses
through tables,
charts, graphs
and SPSS tool

21APPLIED BUSINESS RESEARCH
Deducing
relevant
conclusion and
recommendati
ons
First round
evaluation
Making the
necessary
changes
Final
evaluation
Submission
and closure
Table: Action Plan for 3 years

22APPLIED BUSINESS RESEARCH
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banking sector: a modified VAIC (M-VAIC) perspective. Asian Journal of Finance &
Accounting, 6(2), pp.103-123.
Yalama, A., 2013. The relationship between intellectual capital and banking performance in
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26APPLIED BUSINESS RESEARCH
Appendix
Survey
Do you believe that the intellectual capital impacts the performance of banks financially in
Australia?
Agree:____ Highly agree:____ Neutral:____ Disagree:____ Highly disagree:____
How often the human capital affected the functioning of the financial institutions in
Australia?
Agree:____ Highly agree:____ Neutral:____ Disagree:____ Highly disagree:____
Can the intellectual capital including the structural capital enhances the financial abilities f
the organizations?
Agree:____ Highly agree:____ Neutral:____ Disagree:____ Highly disagree:____
How the intellectual capital impacts the Australian banks in terms of more profit and
competitive advantage?
Agree:____ Highly agree:____ Neutral:____ Disagree:____ Highly disagree:____

27APPLIED BUSINESS RESEARCH
Timeline
4.0 Action plan
Jan-
Apr
il
May-
Augu
st
Sep-
Decemb
er
Jan
-
Apr
il
May-
Augu
st
Sep-
Decemb
er
Jan-
Apr
il
May-
Augu
st
Sep-
Decemb
er
Activities
Collecting
information on
the topic
Developing
aims and
objectives
Preparing
questions
Applying
theories
Selecting
samples
Collecting
data from the
selected
First year Second year Third Year

28APPLIED BUSINESS RESEARCH
samples
Analysing the
responses
through tables,
charts, graphs
and SPSS tool
Deducing
relevant
conclusion and
recommendati
ons
First round
evaluation
Making the
necessary
changes
Final
evaluation
Submission
and closure
Table: Action Plan for 3 years