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Strategic Management Project- Periscopix

Added on - 02 Feb 2020

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CMI Registration Number: P004454905Unit Title:Conducting astrategic management project
CMI Registration Number: P004454905TASK 1:A.C: 1.1 Determine a topic of investigation that has astrategic implication:The topic under investigation is based on staff turnover of medium size organization. Here,selected company is Periscopix that is advertising agency and produces digital advertisement.The company’s strategic objective is to reduce 10% employee turnover by 2020. According toorganization’s management, the company is facing issue related to employee’s turnover.Organisation needs to keep its trained and experienced work force to generate higher revenue.But when employee turnover is too high its lead to lower productivity, it harms the customerservice quality, lower profit and increases its operational cost.Current Staff Turnover of the companyCompany Name PeriscopixYear 2014-2015Staff turnover (male and female)25.00%Source:www.Periscopix1.2 Discussing the aim, scope and objectives of project:The aim, scope and objectives of project have been specified as follows-Aim-To investigates the high number of staff turnover in Periscopix.Objectives:Objectives of current study have been formulated as follows which assists researcher tocollect data and analyze the same to analyze the potential reason behind high employee turnoverin organization-To evaluate causes of employees turnover in PeriscopixTo examine impact of employee turnover on productivity of PeriscopixTo identify different ways for reducing employee turnover2
CMI Registration Number: P004454905Research questions:What are different causes behind employee turnover in Periscopix?How employee turnover affect productivity of Periscopix?What are different ways to reduce employee turnover in Periscopix?Scope of research:The present study is based oncritical scenario of corporation in term of employee’sturnover. It creates several issues in managing business activities like formulating effectivepromotion strategies for other corporations. Owing to this, study has been conducted to uncoverissues behind high employee turnover and its potential impact on overall performance ofcompany. The study will help researcher to draw valid conclusion and provide suggestions forcorporation to take corrective actions in order to reduce employee turnover. In addition to this,research project on employee turnover can also be fruitful for organizations facing the sameissue. At this juncture, current research can be helpful for other researchers who are doing studyin the same field. Periscopix is a small advertisement company with 20/30 employees that’s whyresearcher use below method to reduce staff turnover but it will be bit difficult to use the samemethod of a bigger organization.1.3 Justify the topic of investigation and its aim, scope andobjectives:The selected research objectives are justified in term of research issue of selectedcorporation. Here, research at first give explanation regarding reasons behind employee turnover.At this juncture, management of corporation analyzes all reasons associated with high employeeturnover. Furthermore, impact of staff turnover has also been assessed on productivity ofcompany. This way researcher analyzes the overall scenario for taking corrective action.The scope of study is also justified in context of its purpose and benefit to several parties.The research project on employee turnover is helpful for all small sector businesses as these aidsto retain employees and cater need of buyers effectively (Jordan and Troth, 2011).However, it is3
CMI Registration Number: P004454905fact that staff turnover affect productivity of the business and increases cost of production. It isbecause corporation need to hire more skilled and personnel along with training on right time.This scenario of small business affects its competitive edge because high turnover distractcompany from the path of growth and development. Owing to this, present study is being carriedto examine the causes behind high employee turnover and its direct impact on performance ofthe business. It would be effective for corporation apply effective strategies address issues whichare being faced by employees and retain them for longer time span.Your justification is quite general; you note the impact of staff turnover onproductivity has been assessed, you should include the magnitude of thatimpact and be specific to your organization – not try to create a model forall small organizations –Please follow this comments made by examiner1.4 Evaluate the project research methodology, including theproject structure and research base:The research methodology used in the project will be explained as follows. The type ofinvestigation for research will be qualitative under which qualitative analysis will be done byusing thematic technique. It is helpful in conducting theoretical analysis of study (Bray andBoon, 2011).The reason behind not using quantitative type of investigation is to conduct in-depth analysis of the topic under investigation. However, quantitative type of research justfocuses upon application of statistical tool for the purpose of assessing impact on one variable onother. Owing to this, qualitative method has been applied in the current study so as to carry outin-depth analysis to reach at aim and objectives of the research.On the other hand, inductive approach will be used for data collection method. Here,research will begin from general to specific pattern (Weller and Gulick, 2014). Owing to this, atfirst information related to high employees turnover will be gathered by using different sources(Koslowsky and Krausz, 2012). It will prove to be effective in developing valid outcome forspecific issue of corporation. On the other hand, both primary and secondary data will be4
CMI Registration Number: P004454905collected by using different sources (Garland and Garland, 2012). This tends to supportresearcher in proposing valid recommendations. Apart from this, descriptive research design hasbeen used which helps scholar to conduct study effectively. Similarly, interpretivism researchphilosophy will be used because research ensures inclusion of human being into study. This wayscholar has right to interpret single truth in different aspects. In the same manner, qualitativetechnique will be used for data analysis so that accordingly findings can be presented in rightmanner. For this purpose, thematic analysis will be used to reach at the aim of the study andprovide valid outcome in accordance with collected data.The structure of research is divided into five tasks. The first one is of proposal where inresearch aim and rationale of study is described in clear manner. The section of proposal willinclude research aim, scope and objectives. Along with that, methodology and strategicimplication is also explained.This entire section enable researcher to reach at the aim of thestudy so as to extract valid outcome. However, this will provide rationale of the study andproposed methodology which would be employed in the research. It proves to be effective todevelop deep understanding among researcher.After completion of first task, second deals with number of sources for data collection. Itaids to develop strong base of information and enables researcher to reach at valid conclusion ofstudy.Further, here number of sources like journals, books and online articles are included forcollecting large amount of information. This chapter also shed light on causes of attrition rateand its direct impact on performance of Periscopix. Accordingly all potential causes behind issueof the company is assessed and accordingly fruitful suggestions can be provided.On the other hand, third task will be based on detail analysis of collected primary andsecondary information.Under this, chapter all primary and secondary information are collectedin the light of research aim and objectives. It facilitates to evaluate the collected data effectivelyand proper the suggestions in an effectual manner. In addition to this, all the collectedinformation will be presented under tabular and graphical form which tend to focus upon viewsand suggestions of targeted population.Apart from this, fourth chapter is of conclusion andrecommendation wherein research presents findings of study in an effectual manner.It is the lastchapter of the study under which research provided recommendations in accordance with5
CMI Registration Number: P004454905research aim and objectives. However, collected secondary and primary both data facilitate tooffer suggestions.Action plan of the research projectThe action plan of study has been prepared as follows. It consists of list of researchactivities are to be completed for the research proposal. The table itself reflects that researchproposal will take two weeks and research methodology part requires time of 2 weeks. Inaddition to this, collection of primary data takes 3 weeks. Similarly, for collecting primary dataresearch need to incur cost like stationary and accessing several sources like journals, books andonline. After collecting information from different resources researcher then analyze the same inthe light of research aim and objectives.ResearchActivities/weeks1st2nd3rd4th5th6th7th8th9th10th11th12thWritingproposal forstudyResearchMethodologyPlanning forcollection ofprimary dataandsecondarydataAnalysis ofprimary andsecondarydataConclusionsandRecommendationsCompletingtheremainingworkRevise and6
CMI Registration Number: P004454905draftYou describe the methodology but an evaluation asks youto examine the positives and the negatives of the variousparts of the structure.PLEASE EVALUATE MORE CRITICALLY PLEASEFOLLOW THIS COMMENTS MADE BY EXMINNERTASK 22.1 Identifying sources of data and information that support the aim of the projectResearch methodology is the most important part in any study. Under this, a source ofdata is one of the imperative aspects which support researcher to draw valid conclusion. Thestudy herewith access different sources of information like journals, books and online material.Basically two types of data are collected such as primary and secondary (Kumar, 2014). Thecollection of primary data is the most important part because here researcher create strong basefor the study (Khan, 2011). This can ensure inclusion of best quality of data so as to draw validconclusion. The primary data can be collected from sources like survey, interview and otherrelated. The present research topic is based on questionnaire methodology. It reflects thatstandard questionnaire is formulated in order to meet objectives of study. The current researchproject consists of close ended questions wherein respondents are provided multiple choices. Theselection of appropriate option is highly based on researcher which leads to draw meaningfuloutcome for collected data (Novikov and Novikov, 2013).The secondary sources of information are already available to researcher. For the currentstudy sources like books and journals as well as online material are used. These all are externalsources but internal can be like sales data and records of customers (Panneerselvam, 2014). Onthe other hand, journals are helpful because researcher can access available findings so thatsignificant difference in available and existing study can be reduced to a great extent. Apart from7
CMI Registration Number: P004454905this, for collecting primary data, it is very important to select appropriate sampling design(Kuada, 2012).Owing to this, simple random sampling has been used where employees of corporationcan equal change to get selected in the study. However, the size of sample for study is kept 20.The reason behind selecting 20 sample size is the represent the views of employees. In thismanner, Periscopix can assess potential reason behind high employee turnover and it effect onproductivity of company (Mackey and Gass, 2015). However, selected employees will becommunicated information related to purpose of study. This aspect tends to maintain ethicalfacet and generate positive attitude among employees. In addition to this, copy of questionnairewill be distributed among selected participants and they will be communicated or clarified abouteach included question (Allen and Bryant, 2012).According to the selected sources of information scholar can easily gather large amountof information and pool of information can be prepared for drawing valid conclusion. Thisproves to be effective in reaching at research aim and objectives. This reflects that both primaryand secondary information support aim and objectives of present research project (Jex and Britt,2014).2.2 Synthesizing the data and information for options that support project aimTheme 1: Employee finds effective working condition in PeriscopixResponseNumber of participantsAlways3Rarely5Most of time7Never5Theme 2: Satisfied with salary of PeriscopixResponseNumber of participantsHighly satisfied4Satisfied5Neutral18
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