Strategic Business Research Methodology: KPIs, Goals, and Leadership

This report provides a comprehensive overview of business research methodology, focusing on key performance indicators (KPIs), work plans, and leadership qualities. It begins by reviewing job descriptions, organizational goals, and procedures, followed by establishing personal and team goals. The report details the development and use of KPIs to measure performance, maintain performance under various conditions, and the impact of personal traits on work plans. Activities to advance work goals, such as conducting surveys, supplier quality audits, and resource management, are discussed. The report also outlines a sample work plan, emphasizing market knowledge, supplier quality, training, budgetary restraints, and marketing. Furthermore, it describes the importance of serving as a positive role model, maintaining work-life balance, managing stress, and promoting health. The assessment includes evaluating personal knowledge and skills, performance feedback, and professional development plans, including networking activities. Desklib offers additional resources and solved assignments for students studying business research methodology.

BUSINESS RESEARCH METHODOLOGY

Table of contents
Assessment task 1 3
1. Reviewing job description and plans, policies, goals and procedures of the organisation 3
2. Establishing personal and team goals 3
3. Developing KPIs 4
a. Use of KPI to measure performance 4
b. Maintaining performance under contingencies and conditions 4
c. Effect of personal traits, strengths and weaknesses on work plans 5
4. Activities to advance work goals 5
5. Work plan 6
6. Describing: 8
a. Serving as positive role model 8
b. Maintaining work-life balance, managing stress and maintaining health 8
Assessment task 2 10
1. Assessing personal knowledge and skills against the competency standards 10
2. Performance feedback 10
3. Professional development plan 12
a. Professional development opportunities 13
b. Networking activities 14
Bibliography 15

Assessment task 1
1. Reviewing the job description and plans, policies, goals and procedures of the
organisation
As a CEO, the responsibilities are to work along and coordinate the entire operation and
business with a board of directors. This means setting the overall direction of the business
strategically along with necessary risk management with authorisation to undertake huge
financial risks and transactions. As a business enterprise attributes such as quality, customer
value and people are the cherished values. The CEO is responsible for setting mission and
vision and setting strategic decisions like brand building and in-depth market research. The
company plans to engage with customers through promotional activities supported by market
research by conducting the quarterly surveys on a scale of the customer satisfaction which will
help in evaluating the marketing data that determines the opportunities1. Building a measurable
reputation indicated by customer satisfaction levels is also an objective of the company.
Supplier quality audits, regular interactions with them while managing resources and customer
relationship systems is vital plans for future operations. Job opportunities will be provided and
necessary support and training shall be imparted by mechanism the of performance
management. One of the desired objectives is to reduce the cost of operations and channelize it
to increase sales revenue.
2. Establishing personal and team goals
Staying on target as an individual or as a team is an important goal and this requires good
communication on behalf of the leader and the team’s ability to support good decisions. A
personal goal should be dream big and be able to look into future to make guesses in which
way the business shall progress to achieve that. However, if these long-term plans are not
worked, the company may doom and this is why it is necessary to break these into milestone
events which will be only possible if the team comes together with their effort and hard work to
navigate through the ever-changing world of customer needs and expectations. The team needs
to work with the leader and participate in quarterly or yearly reviews that will help in determining
the operational shortcomings and requirements. Regular monitoring will be required to deal with
the regular business crisis situations that the company may face2.
1 Quinlan, Christina, Barry Babin, Jon Carr, and Mitch Griffin. Business research methods.
2 Marais, Hendrik C., and Magdalena Pienaar-Marais. European Conference on Research Methodology
for Business and Management studies.

Goals Attribute
Develop the customer handling team Specific
Resolving outstanding customer issues within
2 weeks
Measurable
To establish the company as the market
leader in the sector
Achievable
Team meeting to resolve issues related to
team goals
Realistic
Reviewing details of problem shooting every
week or bi-weekly.
Time-bound
3. Developing KPIs
a. Use of KPI to measure performance
For achieving market research and customer engagement one of the key indicators is the
completion and review of the customer's surveys. Brand building requires achieving
benchmarks in market categories, positive image, evaluating the frequency of complaints and
monitoring the products and services bought or returned3. Training can be easily accomplished
by recording frequency the of accidents or injuries, keeping a record of absentees, monitoring
anti-discrimination complaints. The performance will be evaluated in the performance
management process and indicators such as a number of completed coaching sessions and
operational related programmes. Cost management requires monitoring wages, cost of using
agency services, consultation fees and wastage. A set target of expense and cost of goods sold
will be excellent indicators of performance management. Targets pertaining to revenues and
profits are mandatory to evaluate the market position and increase the sales revenue by
exploiting the market opportunities.
b. Maintaining performance under contingencies and conditions
All the plans regarding contingency should be started during the process of annual budgeting as
this helps in establishing the baseline of the expected performance. This also important in
setting up the performance parameters. This is necessary because budgets are made by taking
into account the key assumptions made on basis of the competitive environment. The key to
acting in a contingency or similar condition are motivation and financial motivation is the most
3 Eriksson, Päivi, and Anne Kovalainen. Qualitative methods in business research: A practical guide to
social research.

preferred method to maintain performance even during contingencies4. The decision taken
during a contingency is to recover from the crisis. For example, a certain unit of the business
may be functional at 3% over the budget while it has been allowed an acceptable metric of 6%
over budget and in case of such an occurrence the management will concede funds to keep that
unit functional.
c. Effect of personal traits, strengths and weaknesses on work plans
If too much casual the entire management programme will be for nought and this cannot
happen. The team and management should be focussed and determined. The company is
focussed to build relations with people and treating them as just consumers will damage the
brand's influence on the psyche of potential buyers5. This means the company needs to abstain
from any wrong activities as well as enforce principles and guidelines for professionally and
morally acceptable ethics. Delivering what is promised builds trust and loyalty and if the
company is not able to deliver the deliverables to the stakeholders then there will be an
imminent decline in the performance of the company6. Risky decisions are part of any business
and the leadership should be able to motivate and support its team to achieve the desired goals.
The strengths of a leader should be being calm headed, decisive, tactical and diplomatic7. The
weaknesses that a leader should not possess can be being over-confidence, ethically wrong
and unsure of themselves.
4. Activities to advance work goals
Conducting surveys is a good activity to build market knowledge. Auditing the quality of supplier
and maintaining regular contact with them will help in managing the operational as well as
human resources of the company8. The policies need to be formulated in such a manner that
the distribution of resources is efficient that will bolster the consumer relationship systems and
help in developing points of sale. The company also needs to research the effectiveness of the
possible incentives that encourage a safe work environment and a healthy lifestyle. The
employees need to be engaged by providing strategic business goals and providing support for
professional development. Regular coaching and training in accordance to the skill gap need to
be provided along with necessary incentives to help build a strong team9. Renegotiating with old
4 Sekaran, Uma, and Roger Bougie. Research methods for business: A skill building approach.
5 Hair Jr, J.F., Wolfinbarger, M., Money, A.H., Samouel, P. and Page, M.J. Essentials of business
research methods.
6 Bernerth, Jeremy B., Michael S. Cole, Erik C. Taylor, and H. Jack Walker. Journal of Management.
7 Kao, Hao-Yun, Min-Chun Yu, Mehedi Masud, Wen-Hsiung Wu, Li-Ju Chen, and Yen-Chun Jim Wu.
Computers in Human Behavior
8 F. Hair Jr, Joe, Marko Sarstedt, Lucas Hopkins, and Volker G. Kuppelwieser. European Business
Review.
9 Wirtz, B. W., Pistoia, A., Ullrich, S., & Göttel, V. Long range planning.

suppliers and simultaneously searching for new buyers are necessary for cost management.
Budgetary restraints, researching new delivery options and inventory management is critical to
maintaining the direct or indirect financial losses. Lastly marketing campaigns and training of the
sales staff is important for increasing the revenue.
5. Work plan
Work
activity
Description Goals KPIs Timeframe Person
responsible
Market
research
To increase
knowledge
pertaining to
customer
insights
To identify
the key
market
segments
and devising
strategies
that will help
in market
penetration.
Identifying
market trends
and exploiting
them to take
marketing
strategies
Continuous Marketing
manager
Supplier
quality audit
To review the
quality of
products and
services from
the availed
suppliers
To meet the
expectations
and needs of
the consumer
in terms of
the overall
quality of the
product
Consumer
satisfaction
and product
quality
assurance
tests
Yearly Operations
general
manager
Training Providing
platform and
incentives to
retain the
talent
necessary for
the business
Inculcate and
develop
talent that
can help the
company to
function
efficiently and
enforce
High
employee
retention
levels
Monthly HR manager

strategies
effectively.
Budgetary
restraints
The projects
should not go
over budget
Minimising on
extra-
budgetary
expenditures
will be utilised
for
establishing
performance
parameters
and also
reduce the
financial
loses.
Lean and
efficient
management
Quarterly Chief
Financial
Officer
Marketing Reaching out
and
influencing
consumer
psyche
Marketing is
to be done to
reach the
consumer
psyche and
portray to
them the
usefulness
and necessity
of the
marketed
products and
services
Brand
association
Bi-annually Marketing
manager

6. Describing:
a. Serving as a positive role model
The leaders are great teachers. They become role models for those who wish to accomplish
great feats. However, not every leader is a role model. A role model is one who demonstrates
not only leadership attributes but is also confident. They are not afraid of uniqueness and feel
no inhibitions to communicate or interact with anyone. They have empathy and respect for
others and are knowledgeable individuals10. They are not over the top proud but rather have
humility as well as will to admit their own mistakes. A role model is also a person whose actions
are not limited to the domain of work. A role model will imbue humanity to the mundane
professional life and be positive in their outlook. They have confidence in themselves and others
which helps to plan for bigger goals11. Everybody has a different perspective and accepting that
is perhaps one of the greatest signs of being a role model. Communication is key when
motivating people and making them understand the plans12. A role model is one who is selected
by the masses and it is very necessary to maintain humility and empathy apart from being
driven and successful. Admitting to self-mistakes and rectifying them is what makes a leader a
role model.
b. Maintaining work-life balance, managing stress and maintaining health
A very good way to start maintaining a good work and life balance is to set goals that are highly
self-valued. Maintaining work-life balance is necessary as it reduces the levels of stress at both
homes and works while boosting focus and concentration leading to greater job satisfaction
levels. People will be able to participate more actively in their social life and pursue personal
interests and hobbies and subsequently enjoy an improved health13. Time management is
necessary and this can be done by reviewing the activities at work and prioritising them to
increase the probability of success factor. It is recommended to leave work at the workplace and
create a boundary to enjoy personal time. This will help in building a positive attitude and
develop resilience14. Stress and mental exhaustion are the sources of fatigue which should be
managed by maintaining a healthy lifestyle that boosts the ability to work in a productive
10 Neelankavil, James P. International business research.
11 DeConinck, Jim, and Mary Beth DeConinck. Archives of Business Research.
12 Pudelko, Markus, Helene Tenzer, and Anne-Wil Harzing
13 Mendenhall, Mark E., Joyce Osland, Allan Bird, Gary R. Oddou, Michael J. Stevens, Martha Maznevski,
and Günter K. Stahl, eds. Global leadership: Research, practice, and development.
14 Latham, John R. Quality Management Journal.

manner. Having a team to rely upon is also a big stress buster and delegating a job to team
members allows efficient handling of the situation as well as minimal stress. Perhaps the most
important of all is to enjoy what you do.

Assessment task 2
1. Assessing personal knowledge and skills against the competency standards
Leadership development is a very critical issue that is being dealt with in the businesses and
industries. Leadership skill is critical to the success of a business and while undertaking a risky
decision attributes such as logic, experience and available data play a very important role. This
means that as a CEO, the individual needs to be able to undertake critical thinking and problem
solving as well. Oral and written communication is very important for CEO as it induces
teamwork, collaboration and motivation15. Being technologically ignorant is a shortcoming for a
leader and hence a CEO must be knowledgeable to undertake application of digital technology.
Professionalism and work ethics define a CEO and this will be reflected in their leadership skills
as well career management ability. A good CEO needs to overcome the cultural barriers and
hence it is understandable that the CEO has a Global fluency which creates an intercultural
stability at the workspace. The competency models like competency proficiency questions
distinguish competency as essential, proficient, strong and exemplary16. A good CEO needs to
be proficient competent to foster the creative participation of the team. The self-evaluation tool
divides proficiency level into expert, advanced, intermediate, basic and awareness. When a
CEO self-evaluates they should have a proficiency level of expert or advanced as it applies to
exceptional leadership qualities in times of crisis serving as a key resource and advisor. They
require no or little guidance.
2. Performance feedback
Questions Person A Person B
Is the CEO good at strategy
making?
Yes, the CEO is a good
strategist and this is pretty
evident from the financial
results of the fiscal year. The
CEO has been able to
identify the key areas where
the effort is needed. During
the economic downturn, the
CEO was able to take
decisions to maintain the
The CEO can be considered
a good strategist considering
that the business objectives
have been based around the
key company values of
customer value, people and
quality. The decisions to
minimise on losses and focus
on strengths has made the
CEO irreplaceable as a
15 Cappelli, P., Singh, H., Singh, J., & Useem, M. (2015). The Leadership Quarterly.
16 Rosenbach, William E. Contemporary issues in leadership.

stability of the company. strategist and advisor.
Is the CEO good operator? There have been situations
when the company was in a
fix and even during those
times, it was the leadership of
the CEO to come forward and
take the responsibility of not
only the mistakes committed
but also of the employees.
The CEO has not been a very
good operator. If that was the
case, the company would
have not stumbled facing one
crisis situation after the
another. There are certain
times when the CEO
operates like a fine-tuned
machine, but most of the
times, the machine clogged
because the CEO does not
warrant much attention to the
processes and operations.
Does the CEO influence the
business culture?
No, the CEO does not
influence the work culture.
The team leader is supposed
to supervise and not
influence. As a CEO, the
individual has not stepped
beyond the ethical barriers to
influence the work culture.
The CEO does not have a
significant influence on the
business culture because
most of the employees do not
relate themselves to the
ideals and ethics displayed
by the CEO.
Does the CEO influences and
motivates workers?
Yes, the CEO is a good
motivator and has a very
good communication skill set
which is used for inducing a
positive behaviour and
motivating the employees.
Yes, the CEO does motivate
and influence the workers.

On the basis of the above feedback, the CEO needs to make sure that their plans and
activities are comprehensible by the rest of the team. The CEO need not be involved in
influencing the work space, but must be responsible for propagating ethically and
professionally appropriate behaviour, attitude and guidelines for the workplace. To be a
good leader is to be a good motivator and a CEO can channelize their efforts for team
building and team development which will help the organisation to overcome the
business challenges.

3. Professional development plan
a. Professional development opportunities
Timeframe Description of
opportunity/training
Skills/competency to
develop
Annually Collaborative workshop is
one way to sharpen the skills
required in high-level
engagement. Undertaking
interactive approaches like
team sharing activities with
different activities will help in
gaining expertise in a wide
array of topics like computers
and technology, strategies of
management, customer
service to name a few.
Teamwork
Bi-monthly Leadership development is
necessary to hone the
leadership skills of the
budding leaders and this will
help in building the
supervisory skills as well as
self-expertise in the field of
work.
Leadership
Weekly Online coursework is an
option nowadays to develop
the professional skills of an
employee. The online
courses not only encourages
career growth but also helps
in strengthening the basics of
Foundation to improved
business senses

business.
b. Networking activities
Timeframe Description of networking
activities
Opportunity/ Professional
advantage
Weekly Using networking apps This will help in tapping into
valuable consumer insight
which will help in figuring out
what they want and how they
can be provided products and
services.
Annually Taking up a cause Volunteering for a cause will
help in building self-
confidence and provide the
emotional solace to
professional boredom. It may
be anything from working in a
church to may help donate to
a non-profit organisation.
Bi-weekly Brainstorm sessions Brainstorming session is
important for inter-
organizational networking as
this will help in sharing ideas
and beliefs for developing
new products and services. It
will also serve as a testing
ground for ideas that are risky
and require a poll.

Bibliography
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