Solution Design (Research Design and Methodology)
Added on 2020-10-04
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Solution Design (ResearchDesign and Methodology)
Table of ContentsCHAPTER 4: SOLUTION DESIGN..............................................................................................24.1 Introduction............................................................................................................................24.2 Research philosophy..............................................................................................................24.3 Research approach.................................................................................................................24.4 Research design.....................................................................................................................24.5 Type of research....................................................................................................................34.6 Data collection.......................................................................................................................34.7 Sampling................................................................................................................................44.8 Data analysis..........................................................................................................................44.9 Validity and reliability...........................................................................................................44.10 Ethical considerations..........................................................................................................54.11Research limitations..............................................................................................................5Probable solution to the issues.....................................................................................................5CHAPTER 5: SOLUTION EVALUATION.................................................................................19CHAPTER SIX: CONCLUSION..................................................................................................35Conclusion.................................................................................................................................35Implication for both practice and future research......................................................................42REFERENCES..............................................................................................................................441
CHAPTER 4: SOLUTION DESIGN4.1 IntroductionAfter literature review, solution design is considered to be the most important chapter ofwhole dissertation, where, the researcher is able to frame methodology which will be taken intoconsideration. It helps in ensuring that appropriate set of design has been used in a manner thatbest possible outcomes can be derived out of it. The chapter is responsible for explaining thathow the overall research will be carried out using appropriate methodologies (Neuman, 2013). 4.2 Research philosophyThere are various types of research philosophies that can be use by the researcher. Theseare, positivism, interpretivism and realism. Positivism research philosophy helps in providingadequate justification to the researchers as well as readers. However, in case of interpretivismphilosophy, it is responsible for interpreting various elements of the investigation(Lewis, 2015). Another type of research philosophy is realism which generally rely on the ideaofindependence of reality from human mind. There is a greater assumption of scientific approachfor core development of knowledge (Brinkmann, 2014). Hence, in the present research,pragmatism type of research philosophy has been taken into consideration which has helped ingenerating specific picture of overall research. This is most suitable method because this hassupported in focusing on actual research area and finding more practical problems in theCorinthia group. It has also been able to draw effective conclusion, in broader sense, out of theresearch that has been initiated. Realism approach has helped in finding out the reasons offinancial crisis and also its impact on functioning of various other companies. 4.3 Research approachThere are basically two types of research approach. These are, inductive and deductive.Inductive type of research approach helps in finding out new theory and initiate the content fromspecific to generalaspects (Vaioleti, 2016). However, in case of deductive approach, the contentmoves from generalto specific aspects. In the present study abductive approach has been used.This method has supported in combining qualitative and quantitative data in effective manner.This is significantly able to meet with the entire research objective and finding positive results.Innovation and sustainability in themethods adopted at the time of financial crisis and after it canbe found out which could have improvedoverall condition of entities. Inductive approach can bequite helpful in this scenario.2
4.4 Research designResearch design helps in collecting, measuring and analysing data. There are various typesof research designs, such as, descriptive, exploratory and explanatory (Flick, 2015). Descriptiveresearch refers to describing the characteristics of population based on the phenomenon that hasbeen studied in subject matter. In exploratory type of research design, study is generallyconducted for a problem which has not been clearly studied in the past research or any additionin the concept have developed the requirements of researching the concept or subject mattermore. Another type of research design is explanatory research design, where, the ideas areattempted to be connected in such a manner thatcause and effect relationship of the same can bestudies in order to explain overall crux of the study (BNS and HV, 2013). In the present researchexplanatory type of research design will be taken into consideration so as to develop arelationship between existing as well as new knowledge aspects. 4.5 Type of researchThere are basically three types of research. These are,qualitative, quantitative and casestudy. Qualitative type of research helps in exploring the issue in a well-defined manner. It alsohelps in answering various questions after analysis has been performed and develop sense froman unstructured data. Hence, it can be stated that, this type of study is suitable in conducting indepth studies related to subject matter(Panneerselvam, 2014). Quantitative research helps incalculation of specific results and finding out the outcomes in most systematic manner. Anothertype of research is case study, where, case of a particular organization is taken into consideration.It helps in generation of multi-facetedunderstanding of a particular complex issue which ispresent in a real-life context.In the present research,case study approach will be taken into consideration.4.6 Data collection It is considered to be one of the most important aspects of the research which is related tocollection of data in such a manner that overall specific outcomes can be generated out of theresearch. There are basically two types of data collection methods that can be used in theresearch. These are primary as well as secondary type of research. Primary type of datacollection method helps in collecting first hand data, which has not been adopted by any otherresearcher earlier (Smith, 2015).However, in case of secondary type of data collection method,data that has already been collected by the other researcher is taken into consideration. 3
In the present research, both primary as well as secondary type of data collection methodwill be used so as to reach to the specific research. It will also be helpful in development of newtheory which may not be derived by the other researchers. To collect secondary data books,research papers, periodicals, journals, conference papers, directories, research reports, has beentaken into consideration (Gale and et.al., 2013). Also,secondary data has also been collected withrespect to global financial crisis with the help of books and journals.4.7 SamplingA sample is a subset of overall population. It is not possible for the research to conductresearch on whole of the population. In this scenario, a sample, as a representation of wholepopulation, is chosen so as to generate specific results which can thereby be generalised all overagain. In the present research of analysis of factors related to shareholders, a sample of 50companies will be chosen so as to carry out the research. These companies are listed on FTSE350 Index which has inclusion of UK’s largest companies. The entities will be selectedrandomly.4.8 Data analysisData analysis is one of the most important aspect of the research which helps in preparingan assessment of what type of data analysis method will be taken into consideration on data thathas been collected for the present research(Reynolds and et.al, 2014).There are basically twotypes of data analysis method which can be adopted by the researcher in the present research.These methods are, qualitative type of data analysis and quantitative type of data analysis.Qualitative concerns towards obtainingin-depthinsights with respect to the chosen subject matter.It helps in exploring various aspects of the research which assist in reaching to specificconclusion as well. However, incomparison to this, quantitative approach helps in drawing outresults by using various statistical tests4.9 Validity and reliabilityWhen any type of study is initiated, it is important from the part of researcherthatappropriate types of tools and techniques are taken into consideration. Hence, in thisscenario, it becomes important to consider the concept of validity and reliability aspects whilepreparing research. Validity helps in indicating how flawless the overall research has beenconducted. Data collection is the true reflection of validity where it can be ascertained that4
whether the particular data is true reflection of validity phenomenon or not(Nieswiadomy andBailey, 2017).Reliability is another important aspect that is important to be present in the research. It isan important aspect to measure the overall quality of conducted investigation.The current studyfocuses on stakeholders where data will be gathered through authenticated sources only so as toproduce effective results. It has been ensured by the researcher that there is engagement ofminimum biasness and manipulation in the research being conducted by him (Karanikolos,Mackenbach and McKee, 2013).4.10 Ethical considerationsIn the present research, the researcher hasconsidered the following aspects that are relatedto ethics. These factors are mentioned below:Restricted access:The work required to refer certainwebsitesso as to gather informationwhich is secondary in nature. Some of them do not have access to use them directly. In thisscenario, prior permission has been taken by authors and then only information is collectedfrom those websites (Vera and Fabian, 2016). Citing work:In certain cases, work of previous scholars has also been included who musthave conducted research on similar topic. Proper citing of work has been done based oninformation that has been gathered through various sources.4.11Research limitationsThere are certain limitations that acts a hinderance in providing specific results to thereaders. In the present research as well, there are certain challenges that are faced by theresearcher in presenting the dissertation. Some of the limitations that are linked to it are asfollows:Time consuming process:Conducting a research is a prolonged process as data collectionand analysis taken longer time and thenanalysis aspect is also time taking scenario (The casestudy approach, 2011). However, it has been ensured by researcher of present investigationthat all the important aspects of research are properly taken care of and adequate time isgiven to each and every aspect of the research. Insufficient secondary information:The present research is based on factors related toshareholders. The other limitation that has been faced by the researcher is that, all the5
important information related to subject matter is not specifically available to the researcherwhich has led to create restrictions on overall results of the research.Probable solution to the issuesNegative impact of global financial crisisGlobal financialcrisis has been able to have long term sustainability impact ofcompanies.It not only resulted inineffective functioning of companies but had greater impact onoverall shareholder’s value. Entities experienced economic and financialbreakdown in thecompany which has affectedoverallgeneration of revenue and even its stability in the market(Shiller, 2012).The corporations, which used to be high value risk taking companies, have nowbecome performance concerned. It is detrimental to focus on only profits without analysingongoing conditions of share market. It has become important for the management to focus onvarious factors that has led to financial crisis and the methods that can be adopted if it tends tooccur again in the financial market. In that scenario, it will be informed risk which caneffectively be managed by the management of company. A stronger impact of financial crisis has also been propounded on investing behaviour ofinvestors due to external shock and sudden down experiencedby the market in the year 2008.Hence, investors tend to take all their decision wiselyand ensure that whether they want to makeinvestment in a particular company or not. It basically helps in identifying their risk-takingbehaviourand if the market is at riskor not (Peters and et.al., 2012). A strong relationshiphas been developed since then between, actual performanceof the firm and value creation. Itbecomes difficult for the management of the company to manage shareholders and performanceof the organizationwith declining returns. It generates the requirement of establishment ofcorporate strategy that helps inidentification of risk, it is takes place in near future. So as toperform this function, it is important to prepare an assessment of condition so thatreason ofglobal financial crisis can be explored. Effectiveness of leadership and strategic decision makingcan help in exploration of the same. It is important for the organization to ensure that thedecision making must be focused and of sustained value for both long as well as short term(Erkens, Hung and Matos, 2012).The main aim of strategic managers is to ensure that adequate outcomes have beenachieved without hampering core activities of the business. Financial crisis has led to increasefocus on corporate governance and strategic alignments of the company so that desired outcomes6
can be attained. It was the main reason due to which various companies, such as Enron, failed tocome out successfully from the crisis of 2008 (Taylor, 2013). Ability of companies to have highlevel of accountabilityand transparency can also help in ensuring that appropriate strategies ofresearch have been prepared by the managers. Another proposed solution for the situation of financial crisis is optimum utilization andallocation of available resources so that it can be preserved for future requirements. It helps inensuring that whenever financial crisis will occur in the market, the company will be able to copeup with it with the help of accumulated resources. Plan may include, reduction of debt, increasein number of shareholders, aiding development or expansion plan, etc. It is important to regularlyanalyse the performance of business in such a manner that better corrective actions can be takenby the team incase of sudden crisis (Fratzscher, 2012). Strive to achieve the target, being framed,as to all the resources and functions can move towards the same direction.Developingcommunication with customers and suppliers is the other aspect that must positively beconsidered by the team while handling financial crisis in the company. Crisis communicationplan must be prepared beforehand, by the management so that solution can be achieved bycommunicating with other stakeholders of the company as well.The year 2008, case up with various economic experiences for the companies, where theyfaced major downturn experienced by America, whose impact was also born by other countriesaswell. Credit melt down led to worldwide reduction in overall spending ofcorporations.Common unfavourable aspects of financial crisis are, rise in inflation,unemployment, negative or very low growth rate, falling prices of assets, reduction in overallspending of the consumers (Aebi, Sabato and Schmid, 2012). It is not only unfavourable positionfor business practices but it is also not effective for conducting business operations. It is difficultto maintain favourable economic environment all the time, especially when crisis strikes, it canchallenge the well being of company. It is the time, when it is required to taker appropriateactions that can help or save the organization from sinking. One of the important aspect at thattime is to have positive behaviour andinitiate new ideas among employees which can help incoping up with the issue the organization must be facing due to economical crisis. Financialturmoil in the organization may affect overall sales revenue and profits which ultimately affectoverallfunctioning of the company. Cost cutting can improve the performance of the company(Chodorow-Reich, 2013). However,new and effective set of employees and retrenching the7
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