This research proposal aims to understand the challenges faced by a Singaporean management consulting company in implementing innovative strategies. It explores the current innovation practices, staff perception, and recommends new strategies for enhancing productivity.
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Running head: RESEARCH PROPOSAL RESEARCH PROPOSAL Name of the student Name of the university Author note
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1RESEARCH PROPOSAL Table of Contents 1.1Introduction...........................................................................................................................2 1.2Background of the study.......................................................................................................2 1.3 Problem statement................................................................................................................3 1.4 Research aims and objectives...............................................................................................3 1.5 Research question.................................................................................................................4 1.6 Literature review..................................................................................................................4 2.1 Trends and challenges of the management consulting industry.......................................4 2.2 Challenges of the management of the consulting industries............................................6 1.7 Research methodology........................................................................................................7 3.1 Research design................................................................................................................7 3.2 Data collection method....................................................................................................7 3.3 Conceptualisation and measurement................................................................................7 3.4 Data analysis method.......................................................................................................7 3.5 Research ethical consideration.........................................................................................8 3.6 Limitations of the study...................................................................................................8 Reference..................................................................................................................................11
2RESEARCH PROPOSAL 1.1Introduction The aim of this paper is to prepare the research proposal for the purpose of looking into the issue of Singaporean management consulting company that is faced with the challenges of bringing innovation to the company in order to support the climate of productivity. It is important to understand the context in which this company is facing such threats as it has been observed that the company has number of issues keeping with the innovation initiatives due to the change in the market trend in management consulting. At this juncture, it has been observed that the company is undergoing number of issues with the innovative strategies to be adopted for the company. However what is currently impacting the company is the staff’s perception on the current innovation strategies. Hence it can be derived that the problem issues impacting the company is the staff’s perception is the key question building the foundation of this research 1.2Background of the study It has been previously observed that the issue of management consulting industry in Singapore has been facing number of issues of expansion and change. For example, it has been highlighted that the management consulting market is seeing an expansion in terms of growth over 7.1 %(Brandon-Jones et al. 2016). According to the data released by the Australian Bureau of Statistics, it has been estimated that professional service sector of Australia is one of the fastest growing industries. Moreover it has been observed that with the expansion of the Asian companies in Australia, the role played by the Singapore consulting companyis premium (Sarros et al. 2008). It is even the fourth largest industry of Singapore having higher number of market share. Thirdly, it has been also observed that the government has increased their interest in digitalisation of the programs (Józsa et al. 2015). The issue of
3RESEARCH PROPOSAL digitalisation has been the one of the key aspects of the consulting industry since clients have come up with the consultation demand for the purposeof higher customer serviceand experience (Brandon-Jones et al. 2016). At this juncture, it has been observed that the consulting industry in the recent past has undergone number of changes and it has become primarily important for the purpose of the Singaporean consulting companyto adopt the new strategies in innovation in order to enhance their productivity. 1.3 Problem statement It has been identified in the previous discussion that the company is facing number of issues in initiating the innovating strategies for enhancing productivity. However before initiating the organizational change, it has become important for the CEO to understand the perception of the staff on the current innovation climate in order to find out the most cost effective strategies for innovation and development. Hence this research will be looking into the issue of the current innovation practices of the Singapore management consulting company in order to understand the feasibility of the new approaches to be adopted. 1.4 Research aims and objectives The aim of this research is to understand the nuances and gaps in the existing strategies of innovation method of the company in order to suggest the new methods of innovation that can effectively contribute to the newly emerging trends in the consulting market. The objectives of the research are: To analyse the current innovation practices of the Singapore management consulting company
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4RESEARCH PROPOSAL To understand the lacunae of the innovation strategies of the choose industry To recommend the ways in which the company can adopt the new innovative strategies for thecompany in order to keep the balance in the consulting market. 1.5 Research question RQ1. What arethe new strategies of innovation measures in order to developthe innovation climate for the company in order to maintain the existing profitability, reputation and productivity of the company? RQ2. What are the perception of the staff towards the new change and innovative strategies of the company? 1.6 Literature review 2.1 Trends and challenges of the management consulting industry Due to the changes in the global consulting agency there is a global trend developed in higher dependence on consultancy. The has led to the process of number of changes in the consultancy services around the world. Changes in the global consultancy industry are inclusive of the revenue, IT, strategy, management and the operations. In case of the management consultancy industry, it has been observed that the management consulting industry has seen a major growth in terms of higher investment of 267$ billion than the 233$ billion from the previous year such situation has led to the process of adaptation and change for the management consulting companyto changetheir previousmeasures (Lăzăroiu 2015). However during the financial crisis of the 2008 and 2009 the management consulting industry has undergone number of shocks and it has been realised that the need for
5RESEARCH PROPOSAL development ofnew ideas an innovative technologies has been the primary aspects of these companies. It has also been argued that the management consulting industry has been one of thecornerstone ofthe global management industry that has the been assisting number of management industries around the world (Kuratko et al. 2014). It has been observed that the impact of Brexit on the global platform, the management consulting industry has undergone number of changes in terms of the growing demand of the innovation and new ideas (Sarros et al. 2008). This has posed number of challenges in the management consulting companies and firms for the adoption of the new technologies and ideas into practice (Luftman et al. 2015). It has been argued that remaining competitive in the global market is the key to successful This graph clearly explains the fact that the growing expectation of the client on a global platform has posed number of challenges to these companies, the Singapore consulting company being one of them. In terms of the diversification of the services and the emerging probes, it is more complex in nature which is acting as a barrier in attracting the new
6RESEARCH PROPOSAL customers to the market (Lăzăroiu 2015). Hence it is to be argued from the above discussion that the recent changes and trends in the market is the source of issues for companies like the Singapore consulting industry (Poulfelt et al. 2017). 2.2 Challenges of the management of the consulting industries It has been observed that there are number of challenges faced by such firms on global scales. Some of the issues are: attracting the new clients in the delivery of new service. According to (Luftman et al. 2015) 72% of new firms are faced with the issue of generating new business opportunities since they lack the back innovating technologies for their services.Secondly, it is also important to note that meeting the market challenges in the market is one of the aspects that are impacting 25% of the business firms. Since numbers of international firms are equally challenging the local scenario, it has become a complex situation where the competing firms are posing number of serious threats to the existing firms that lack the innovating ways of idea generation (Lăzăroiu 2015). It has been further argued that generation of new ideas area another aspects that has been stagnant form the period of 2015. In terms of the issues of quality and complexity for the new challenges, there is a need to develop the right strategy for the purpose of developing their client base (Poulfelt et al. 2017). It is also noted that turbulent times have fostered challenges that are more complex in nature. There is an increasing pressure of the firms that are equally contributing to the nature of challenges in the global market. Hence it is to be argued from the above discussion thatdue to the challenges posed by the new players in the international markets, the management consulting companies are faced with number of issues in terms of generating new ideas (Scheepers 2008). It has been observed that the Singapore consulting company is facing the issue generating new ideas; however what is required at this juncture is the detailed analysis of the staff’s perception
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7RESEARCH PROPOSAL about the existing policies of innovation. Hence this paper will be analysing the same by developing an in-depth analysis of the perception of the people towards these new changes. 1.7 Research methodology 3.1 Research design The three dominant approaches research include realism, positivism and the interpretivism approach. For conductingthisresearch, thisstudy will be undertakingthe positivism approach (Simonsohn 2017). The advantages of this research framework are that it helps to conduct in-depth analysis of the different themes of the research. The reason for the rejection of the research frameworks are due to the fact that it the positivism framework has the scope of conducting the study in the systematic and logical manner. This study will be undertaking theanalyticalframeworkofdataanalysissinceitisimportanttohaveanalytical understanding of the issue. 3.2 Data collection method In order to conduct this study, this research would be undertaking the qualitative method of data collection. In order to understand the underlying nuance of the issue, primary and secondary method of data collection is to be adopted. For the collection of the primary data, this research study will be conducting interview of the sample size and for the collection of the secondary data, books and peer-reviewed journal would be consulted. 3.3 Conceptualisation and measurement This study will be based on the probability and non-probability method of data collection (Mackey 2015). Along with the two method of sampling, it will also be based on some random sampling.For the purpose of this study, this research is expected to be undertaking the three managers of the consulting companies for the purpose of the interview in order to present their viewpoint on the process of innovation and residuary strategies.
8RESEARCH PROPOSAL 3.4 Data analysis method After the process of collecting the required data, it is important to analyse them in a system manner. For the purpose of the analysis, this research will be undertaking the qualitative data would be analysed by adopting the thematic analysis method (Smith 2015). The rationale behind the choice of the thematic analysis is the fact that it leaves the option for choosing number of themes under the subject of the study. In case of the gathered data from other sources, it will be converted into graphs and chart and other pictorial method in order to use them in the most systematic manner. 3.5 Research ethical consideration During the process of research, there are certain ethical issues important to be considered. For examples, any form of symbolic representation of anything will be refrained from use in order to avoid any ethical breach of law. Secondly it is importantto cater to the fact that prior permission or authorisation is to be taken before the process of interview is initiated, in case of the secondary data collection, due reference is to be made in order to avoid any form of plagiarism issue since the purpose of the research is purely academic. Moreover it involves any form of advertisement; it will be barred throughout the process of the data collection and research method. 3.6 Limitations of the study Irrespective of the research being designed in systematic manner, every research is bound to have certain limitations (Panneerselvam 2014). For example, the issue of time is one of the issues that will be restrictive of the scope of the research since it has been observed that availability of the data and research material may not be possible within the limited nature of
9RESEARCH PROPOSAL time. Secondly it is important for the purpose of the research to remain neutral in the opinion shared due to the fact that most of the time opinion are based which destructs the scope of the research.
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10RESEARCH PROPOSAL Activities1st to 3rd Week 4th to10th week 11t hto 13th Week 14t hto 17th Week 18th to21st Week 22 ndto 23rd Week 24th Week Selection of the topic Data collection from secondary sources Creating layout Literature review Analysis and interpretation of collected data Findings of the data Conclusion of the study Formation of draft Submission of final work Gantt chart Created by the author
11RESEARCH PROPOSAL Reference Brandon-Jones, A., Lewis, M., Verma, R. and Walsman, M.C., 2016. Examining the characteristics and managerial challenges of professional services: An empirical study of management consultancy in the travel, tourism, and hospitality sector.Journal of Operations Management,42, pp.9-24. Flick, U., 2015.Introducing research methodology: A beginner's guide to doing a research project.Sage. Gast, D.L. and Ledford, J.R. eds., 2014.Single case research methodology: Applications in special education and behavioral sciences. Routledge. Józsa,I.,Vinogradov,S.A.andPoór,J.,2016.ANALYSISOFMANAGEMENT CONSULTINGMETHODSBASEDONEMPIRICALRESEARCHIN HUNGARY.Management (16487974),29(2). Kuratko, D.F., Hornsby, J.S. and Covin, J.G., 2014. Diagnosing a firm's internal environment for corporate entrepreneurship. Business Horizons, 57(1), pp.37-47. Lăzăroiu, G., 2015. The role of the management consultancy industry in the knowledge economy.Psychosociological Issues in Human Resource Management,3(2), pp.71-76. Luftman, J., Derksen, B., Dwivedi, R., Santana, M., Zadeh, H.S. and Rigoni, E., 2015. InfluentialITmanagementtrends:aninternationalstudy.JournalofInformation Technology,30(3), pp.293-305. Mackey, A. and Gass, S.M., 2015.Second language research: Methodology and design. Routledge. Panneerselvam, R., 2014.Research methodology. PHI Learning Pvt.Ltd.. Poulfelt, F., Olson, T.H., Bhambri, A. and Greiner, L., 2017. The changing global consulting industry. InManagement Consulting Today and Tomorrow(pp. 5-36). Routledge.
12RESEARCH PROPOSAL Sarros, J.C., Cooper, B.K. and Santora, J.C., 2008. Building a climate for innovation through transformationalleadershipandorganizationalculture.JournalofLeadership& Organizational Studies, 15(2), pp.145-158. Scheepers, M.J., Hough, J. and Bloom, J.Z., 2008. Nurturing the corporate entrepreneurship capability. Southern African Business Review, 12(3), pp.50-75. Simonsohn, U., Nelson, L. and Simmons, J., 2017. Research Methodology, Design, and Analysis.Annual Review of Psychology,69(1). Smith, J.A. ed., 2015.Qualitative psychology: A practical guide to research methods. Sage.