Market Research & Data Collection Evaluation

This assignment involves a reflective evaluation of the market research process undertaken, including tasks such as data collection, analysis, and interpretation. The learner will assess their own performance, identify strengths and weaknesses, and discuss what they have learned from the project to support their continuous professional development.

MANAGING A
SUCCESSFUL BUSINESS
PROJECT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Aims and objectives ..............................................................................................................1
P2 Project management plan for Argos Ltd................................................................................2
P3 Work breakdown structure using Gantt chart .......................................................................4
TASK 2............................................................................................................................................6
P4 Small scale research using qualitative and quantitative research method ............................6
TASK 3............................................................................................................................................8
P5 Analysing research and data using tools and technique.........................................................8
P6 Recommendation using research and and data analysis .....................................................10
P7 Values and understanding ...................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14
LOGBOOK....................................................................................................................................15

INTRODUCTION
Digitisation is regarded as one of the important element for development of business in
different sectors. Implementation of latest technology and tools in workplace will help in
performing task is better and easier way. All the data are transferred through digital medium,
hence it provide a cheaper, faster and and accurate data to to right destination. Argos Ltd. Is
treated among the best retailer company in UK and Ireland. It was founded in 1972 and
effectively perform their business activity in retail stores (Eid, 2013). In current business
scenario apart from physical stores they have started online retail busies that helped them to
extend there reach to more geographical region in UK. This assessment focusses underlining
different methods that helps in understanding business strategies of company and how it can be
improved by implementing latest technology in their business activity.
TASK 1
P1 Aims and objectives
Business activities and trading practices ate fast growing in the world. Government all
over the world are planning to have free trading practices, this has provides different
organisation to expand their business practices (Zott and Massa, 2011). In current scenario the
cost of living of people are getting higher and desires of people have increased to have a standard
lifestyle. This has given opportunity to people in retail sector to grow as the demand is getting
higher. To fulfil demand company have changed tactics in business activities, the have modified
their equipments and use digital platform to reach out to people in a better manner (Hotho and
Champion, 2011. This modified technique of doing business has also given opportunities to
small scale business to start their business activities thorough online platform. Argos Ltd have to
adopt digitalisation in their business practices because these small start-ups and company are
lowering down business activities of bigger organisations.
Aim and objective of research activity – Important objective of organisation is to put
innovative ideas and technology effectively in business activity to gain fruitful by utilisation of
resources in effectual way. This assessment focus on determining those activities that will help
organisation to utilise digital platform in their business activities apart from this future
challenges and activities are also market that may hamper future growth process of organisation.
To sustain and earn more revenue in business market an Argos Ltd must also have defined
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objectives and aim in their business activities. Some of the objectives of organisations are
mentioned below.
 Determining the effect of digital market on societies in different geographical areas
(Ainin, 2011).
 Adopting better technology for smooth functioning of business activities.
 Modification and implementation of latest software in business activities so that the
organisation can easily operate their business functioning in different market
 Making every department accountable in business organisation will aid in proper
analysing and make proper business planning in future run (Hotho and Champion, 2011.
These objectives can easily be attained by proper collection of data using different
quantitative and qualitative tools. To increase efficiency of functioning of business activities
quantitative analysis like questionnaire can be used to understand impact of digital activity in
Argos Ltd. Some examples of questionnaires are -
 How effective it will be to put business activities on digital platform to enhance business
activities.
 Up to what extend it affect culture in different region ?
 What percentage of people are comfortable in using digital platform to perform sales
activities.
Analysing these types of question will help organisation to understand about present
standing of their organisation and how can they improve their business activities in different
competitive market.
In year 2016 Sainsbury agreed to takeover Argos's parent group for £1.4 billion and
planned to merge their retail stores with acquired group (Dezdar, 2011). In recent business
strategy they want to expand their retail stores in other countries, they have planned to target to
expand their business activities in all over Europe. In recent past they have started their retail
store in France and doing their business successfully.
P2 Project management plan for Argos Ltd.
To execute plan and strategies and generate opportunities to increase their revenue in
future market Argos Ltd. Must make sure that they have covered every department and are
utilising their resources effectively (Teece, 2010). Company must focus on planning on
allocation resources, managing workforce, competitor analysis etc. these will aid them to have
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competitive advantage in different geographical region. Planning also helps in monitoring
activities of their employees and judgement of their skills and knowledge (Porter and Kramer,
2011). Proper planning in organisation will aid in having better taking better decision related to
internal and external market. For better execution of planning several factors must be considered
those are underlined below.
Cost – It is an important element that is to be considered in performing business
planning. Retail company must make sure that they maintain high standard for their product and
sell at an affordable price so that more number of customer can avail their service. Planning
related to cost of product must be maintained and done by making strategies related to financial
condition of company and their investment strategy. Implementing innovative ideas like putting
business on digital platform and software need large investment that must be taken care while
making strategies for future investments (Dezdar, 2011). For making effective plans for costing
activities it can be divided into different projects where analyse and make separate plans.
Scope- It is very important to understand aims and objectives of projects. Having proper
goals will aid company to work in effectual way on projects. For gaining ultimate scopes and
objectives Argos Ltd have to make proper strategies and plan related to different projects so that
each project can be executed properly (Porter and Kramer, 2011). The company is having
variety of products that incudes, home care, furniture, gift shops etc., by treating each product
separately as projects they can easily make strategies and execute them properly.
Time- Performing activity in an desired time frame is important as it helps in achieving
desired target on right time and earn more revenue from different market. Argos Ltd are very
punctual in performing their business, they adopt different strategies and appropriates to perform
and complete their work in given time frame. Company has formulated a team that is assigned
for forecasting of demand of their product in different market so that they can launch their
product in right time in market to earn more profit.
Quality – Over the years organisation is investing in maintaining quality in their product.
There are so many small and big company in market so customers have alternatives to switch-
over from one company to another company so maintaining standard in product will aid
company to have competitive advantage (Wilson, 2010). Argos Ltd. Has planned to increase
their business activity in different market so it is essential for them to maintain quality in their
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product. As company is dealing in retail sector they must check quality of product before
purchasing them (Bonnet, 2014).
Communication- It is an essential factor for developing business in market. Having
better communication in organisation will aid in proper passing of information hence will
increase coordination between different departments. A manager can use communication to
make their aware about objectives and scopes of company in market, they can also influence
their employees and make them goal oriented (Fitzgerald, 2014). Communication practices is
also used in performing researches and collection of data. In external organisational factors
communicating with customers will generate faith among the customers (Dezdar, 2011).
Risk – While competing in global market risk and uncertainty are some of the major
elements that are to me taken care otherwise business cannot sustain for longer period of time.
While considering risk factors in UK Argos Ltd. Have to consider many small and large
organisations like Amazon, Mark and Spencer are some of the bigger competitor for company.
The country is in the verge of implementing Brexit so government is giving more opportunity
and funding to to small scale organisation to increase their market (Peppard and Ward, 2016).
Digitisation also create uncertainty for organisation in digital market market as it provide
opportunity to every organisation to perform their business on same platform.
Resources – Resource is termed as human resource or physical resource. Argos Ltd.
Deals in various types of products so they are having good amount of assert (Cavusgil, 2014)..
By proper evaluation and utilisation of different resource will help organisation to develop their
business better. Te main resources of most the company dealing in retail sector are inventory and
transportation. By having these two factors are the biggest strength of organisation as they are
able to make fast delivery of product and easily regulate chain of network in an easier way
P3 Work breakdown structure using Gantt chart
Breakdown of work means division of work into several stages and make planning
achieve them. Task is divided into hierarchical substructure that provide a better way to
performing activity stepwise. By properly distribution of project and task among the employee
according to their potential will help in properly execution of task and increase productivity. For
better utilisation of workforces in task two major factors that must be taken care are efficiently
and positive intent (Hotho and Champion, 2011). For making plans and executing them
organisation has to observe skills and knowledge of workers as well as determining the frame of
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mind workers are in. Argos Ltd. Monitor capabilities and skills of employee before assigning
them relevant task or work. For example company is providing training and improving skills for
employee working on digital portal so that they can enhance skills to improve customer
experience while using their portals.
For presentation of work in a systematic manner graphical representation can be
efficiently used. Gantt Chart is a better prospective for presenting data in an effectual way. This
chart is being used very effectively by many company for proper analysis and distribution of
work according to potential and skills of employee for producing getter output in business
activities. Proper representation of data related to activities helps a manager to explain elements
of project in their desired way (Hotho and Champion, 2011). Argos Ltd. Always prefer to put
different activities and project on Gantt Chart so that all manager and employees can understand
the goals and objectives they are working at and how can they achieve their target in potent
way. There are different kind tools and techniques available in market and company can use
them according to business activities they perform.
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TASK 2
P4 Small scale research using qualitative and quantitative research method
Researches helps in finding and analysing different factors that are used to evaluate
different micro and micro factors of the organisation. It aids organisation to evaluate different
factors that influence activities of organisation in performing their business activity (Stokes,
2010).. Some of the major factors that are used in business activities of organisation are
workforce management, competitive market, geographical boundaries, customer and their need,
political factors, skills and knowledge of employees, attitude and behaviour of employees,
changing behaviour of customers towards organisation, innovation and technology (Laudon and
Laudon, 2016). Research methods are always time consuming, it collect opinion and survey of
people about business activities and product and analyse their sustainability. There are several
quantitative and quantitative techniques that are used to analyse different factors about the
product and business activities.
Qualitative research – This research practice is done on collection of historical data and
analyse them. Observation of past data helps in understanding past performance of company and
how it has influence business activities. This majorly focus on determining attitude and
behaviour of employees towards products of company (Laudon and Laudon, 2016). For proper
analysing human nature several elements like wishes, experiences, experience, participation,
responses are added in surveying activities. As many company wish to invest invest in different
geographical region they have to evaluate other factors like religion, culture, ethics, tradition,
satisfaction level so that they can provide better customer services to employees. A separate
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department is formed by Argos Ltd. For collection of data from business market. Collection of
data, making statical analysis and plotting graphs help in better analysis of output.
Sampling – It is a crucial element of research methodology. In sampling process a small
amount of data is collected from large sample size and analyse then (Dezdar, 2011). The overall
data are the collection of feedback and opinions of people in market and analyse activities based
on them. Companies in different sector used to perform sampling process time to time to
understand the sales volume of their product and collect opinion of people if any changes are
required.
Questionnaire
Name:-
Gender:-
Resident :-
Age:-
Q1. Will it be effective to perform business activities on digital platform ?
A. Yes
B. No
Q2. Can digitalisation practice be fruitful to earn revenue ?
A. Yes
B. No
Q3. Can digitalisation practices work effectively in different geographical market ?
A. Yes
B. No
Q4. Can digital market provide a better platform for performing business activities?
A. Yes
B. No
Q. 5. Give your opinion about digital marketing strategies ?
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TASK 3
P5 Analysing research and data using tools and technique
Research tools and techniques provide qualitative analysis of data that will help
organisation to make efficient planning and adopt right approach to perform their activities. The
below questionnaire is made on the basis on survey performed in different business market by
organisation. These samples are very useful in understanding the impact of digitalisation on
business activities of company (Ainin, 2011). The analysis of business activities are as follows.
Theme: 1 Effective to perform business activities on digital platform
Q1. Will it be effective to perform business activities on digital
platform ?
Frequency
A. Yes 25
B. No 5
Yes No
0
5
10
15
20
25
25
5
Column C
Findings – By analysing above sampling size it is estimated that digitalisation will have
a positive impact on activities of organisation. 25 people out of 30 have understood that in
current and future business market digitalisation will be playing major role. Digitisation will be
fruitful for company and customers. Organisation can extend their reach to different
geographical market to sell their product. Customer will be happy with the door to door service
provided to them.
Theme 2 : Digitalisation practice
Q2. Can digitalisation practice be fruitful to earn revenue ? Frequency
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A. Yes 20
B. No 10
Yes No
0
5
10
15
20
20
10
Column C
Finding – 66% of the people agree that it will be beneficial to put trading practice on
digital platform. But some people are having doubt on that as they prefer to purchase product by
properly analysing them. For increasing business activity on digital platform company must
make sure that they provide best quality of product to generate faith among the customers.
Theme 3: Digitalisation practices for geographical market
Q3. Can digitalisation practices work effectively in different
geographical market ?
Frequency
A. Yes 22
B. No 8
Internet Pamphlet
0
5
10
15
20
25 22
8 Column C
Finding – 22 out of 30 people support this ideas of expansion of business activities in
different business areas Argos Ltd. Is working in different geographical market in all over
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Europe, there they have to analyse local culture, differences, ethics, values attitude and
behaviour of people so that they can plan their business activities effectively. Company have to
understand demand and need of product in different areas.
Theme 4 : Platform for performing business activities
Q4. Can digital market provide a better platform for performing business
activities?
Frequency
A. Yes 24
B. No 6
Modern technology
Traditional technology
0
5
10
15
20
25
24
6 Column C
Finding – Digital platform will provide better opportunities to perform their business. 24
out of 30 people agree to this because it will provide better opportunities for small and large
scale organisation to perform their business activities.
Q5. Give your opinion about digital marketing strategies ?
Finding – it is the individual opinion of people that is being recorded for analysing while
making strategies in business market.
P6 Recommendation using research and and data analysis
By properly analysing the research several factors about Argos Ltd. It is analyses that as
the company is dealing retail sector they have to continuously plan to increase their business in
different market. Company is only 45 years old but they hence able to compete with the
companies like Mart & Spenser and Amazon with efficient business strategies. They have
planned to increase their business activities in different geographical regions , preferably Europe
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wirer they will get more opportunity to increase their revenue base. Organisation have analysed
that several entrepreneurs and small scale business organisation have uses digital medium to a
good effect in performing their business activities. They have also planned to implement
technology in business activities. Argos Ltd. Has modified their software and have started e-
commerce medium for selling their product in business market. Other than these factors there are
several factors those are also need to be implemented to make the business more efficient. Some
of them are underlined below -
 Organisation must plan different seminars, training sessions and provide knowledge
about activities those are performed in business of organisation. Several areas where
skills of people can enhanced are marketing, technology, forecasting, coordinating,
decision making etc. so that company have overall development of organisation to
compete in different market.
 Company must also understand the changing political environment in UK. In 2019 Brexit
will be implemented, there are chances that new laws and policies of government may
not favour marketing strategies of company so they must be make planning to grow and
sustain in business market.
 Organisations have their own innovative ideas and approaches while implementing
digitalisation in their business activities. So efficient planning must be done before
implementing digital technology in their business activity. Argos Ltd. Is implementing
latest software in their retail business so company musk know about right purpose and
activities before implementing the software in business activities.
 Not only Argos Ltd. is modifying their software but these are other organisation who are
also working to modify their software and implement in their business. So Argos Ltd.
Must try to modify their software and implement business activities.
 Organisation is trying to invest in different geographical location mainly in all over
Europe so they need large financial planning to mark their grass root in those
geographical area. Implementation of software technology in those area need permission
from government of different country as the policy of government differ from each other
After analysing the research it is concluded that digitalisation will play important role in
performing business activities in effectual way. By survey it is being analysed that most of the
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people in different geographical region welcome the use of digitilisation activity on the other
hand using modified software will aid organisation to proceed in their business.
P7 Values and understanding
The above assessment focusses on impact of digitalisation on business activities of
organisation. Argos Limited is one of the famous company working successfully in retail
business. According to to my analysis in a short period of time and implementation of innovative
ideas in business activities that has helped organisation to have core competence in market.
Company has successfully managed both micro and macro factors for proper functioning of
organisation. In micro sector organisation is having manager having efficient management
quality and workforce equipped with skills and positive thinking, overall it must be mentioned
that the the company is having a better organisational culture to sustain in business environment.
In term of external sector they have been able to perform proper demand fornication of different
business market to improve their business activities. By further analysis of report I have found
that the major approach of their business activities are providing better quality of product and
increase their customer base, for doing so they have adopted ethical approach in performing
their business activity. For forecasting of demands and analysing growth and marketing of their
product company tend to adapt different research methodology that include questionnaire and
sampling for evaluate their existence in different business market. By performing further
research I have found that company is planning to perform these surveys on online platform so
that they can easily record and evaluate views of people and use then in planning and strategy
making.
CONCLUSION
From the above report one can conclude that digitalisation is one of the important factor
that an organisation use to increase their reach in different geographical areas and increase their
productivity. For making efficient plan for performing better business activities are cost, quality,
quantity, communication,risk and uncertainty, competitors, workforces etc. for better business
planning. By elevation sample size Argos ltd. can evaluate fissility of their product in different
market and they can make planning to compete in different market. Digitalisation is a vast area
that provide better opportunity to explore. It is termed as future of performing business
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activities as company can reach out to different market. This assessment provide a small glimpse
of advantage of technology in business activities and there are more to be explored in future run.
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REFERENCES
Books and Journals
Zott, C., Amit, R. and Massa, L., 2011. The business model: recent developments and future
research. Journal of management. 37(4). pp.1019-1042.
Teece, D.J., 2010. Business models, business strategy and innovation. Long range planning.
43(2). pp.172-194.
Stokes, D., Wilson, N. and Wilson, N., 2010. Small business management and entrepreneurship.
Cengage Learning EMEA.
Porter, M.E. and Kramer, M.R., 2011. The big idea: Creating shared value.
Peppard, J. and Ward, J., 2016. The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.
Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education
India.
Hotho, S. and Champion, K., 2011. Small businesses in the new creative industries: innovation
as a people management challenge. Management Decision. 49(1). pp.29-54.
Fitzgerald, M., Kruschwitz, N., Bonnet, D. and Welch, M., 2014. Embracing digital technology:
A new strategic imperative. MIT sloan management review. 55(2). p.1.
Eid, R. and El-Gohary, H., 2013. The impact of E-marketing use on small business enterprises'
marketing success. The Service Industries Journal. 33(1). pp.31-50.
Dezdar, S. and Ainin, S., 2011. The influence of organizational factors on successful ERP
implementation. Management Decision. 49(6). pp.911-926.
Cavusgil, S.T., et. al., 2014. International business. Pearson Australia.
Online
Work Breakdown Structure (WBS).2017. [Online]. Available through
:<http://www.workbreakdownstructure.com/ >.
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LOGBOOK
Project Logbook for the chosen
organisation: 4Com plc
Name of the learner: Name of the Supervisor:
Project Title: Managing Business
Successful
Date:
Update of weekly research/ tasks
achieved (Account for a minimum
of six weeks with dates)
 What have you completed?
 Did you fulfil Task
requirements?
 Are you on track and within
deadlines set?
 Did you need to make any
changes to your project
management plan?
Comments
This assessment is basically
focus impact of digitisation
on in retail sector and how
can they be utilised for
getting better productivity
Yes
Yes
Yes
Any risks and / or issues
identified?
 Did you identify
risks/issues with a lack of
skills required for
undertaking research
tasks?
 Did you identify any
additional risks/issues
that have an impact on the
project management plan?
No
No

Problems encountered
 What barriers did you face?
 How did you overcome them?
Some more time is required
in collection of data
I can help from my seniors
and mentors
New Ideas and change of project
direction
Many ideas are are
discussed and views are
collected for understanding
comparative market.
What Have I learnt about myself
this week?
 How did I feel when I had to
deal with tasks/problems?
 Did I find it useful to
complete the tasks?
 How well have I performed?
What did I contribute?
 What can I improve on next
week?
I was really satisfied after
collection of data
Yes
I have proffered
international research
paper to enhance my skills
Next time I will use more
quantitative data by using
different research tools
Tasks planned for next week
 Which tasks are priority?
 Have you set aside sufficient
time for completion?
Reaching out to people for
collecting data
No, I do not have sufficient
time to collect more data
Project plan status to date (on, Up to date
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ahead, behind)
Supervisor comments to address
Signature of the Supervisor and
date:
Template for Performance Review
Template to be attached with the
report by the learner:
1. What was the Project supposed to accomplish?
It is used to focus on achieving given target
2. Did the project succeed in its aims/ how do you know?
Specifically, please outline any evaluation and assessment
undertaken.
Yes by qualitative and quantitative analysis aims and objectives are
achieved
3. What things do you think worked well and why? Evaluate all
aspects of the project (e.g. initial inception, project activities and
project outcomes) from a range of perspectives.
Yes the work has been performed as planned by covering
different prospectives.
4. What problems emerged during the project and how were they
tackled? Was there timely identification of issues and resolution
during the project process?
Min problem is collection of data from different market.
5. What did you learn from undertaking the project?
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