Managing Research Report: Vrik Communications Analysis

This report delves into the management challenges faced by Vrik Communications, focusing on overconfidence and a lack of adequate human capital skills as primary contributors to business failure. The research explores the significance of management functions, including planning, organizing, controlling, coordinating, and leading, and their impact on organizational success. The literature review examines the role of education level in business outcomes and identifies factors crucial for meeting organizational goals, such as multitasking, decision-making, and effective communication. The research design incorporates both exploratory and descriptive approaches, utilizing primary and secondary data sources, including surveys, articles, books, and journals. The report addresses ethical considerations, data collection methods, and the importance of addressing overconfidence and skill gaps through training and development programs. The analysis includes both qualitative and quantitative approaches to provide a comprehensive understanding of the management issues, aiming to offer insights into improving organizational performance and preventing business failures.

Running head: Managing Research 1
Managing Research

Managing Research 2
Contents
Introduction and Background..........................................................................................................3
Management Problem......................................................................................................................3
Literature review..............................................................................................................................3
Importance of functions of management.....................................................................................3
Impact of education level on the business’s success....................................................................4
Important factor to succeed in meeting organizational goals......................................................4
Reason behind overconfidence....................................................................................................5
Research Design..............................................................................................................................6
Research design and justification.................................................................................................6
Sources of data for the research...................................................................................................6
Conceptualisation and measurement............................................................................................6
Data collection/generation methods.............................................................................................7
Data analysis................................................................................................................................7
Ethical Issues and limitations..........................................................................................................8
Time frame and budget of the research...........................................................................................8
Gantt chart.......................................................................................................................................9
Reference List................................................................................................................................10

Managing Research 3

Managing Research 4
Introduction and Background
The role of management is huge in accomplishing the task or attaining the goal of the
organization. Managers of the company should be active and skilful as they have responsibility
to guide other employees. This research paper will elaborate the management issues for making
better understanding about the concept of the research. The literature review section of this
research paper will define the management concerns by taking various examples of the company
with the help of journal article, online resources and books. Research design is vital component
as it helps to explain that which factor has huge role in making the research. Ethical issues and
time framework will be elaborated in this research paper.
The overconfidence of the manager towards the specific condition can lead the organization into
failure way as it is vital for them to take action after considering the various factors of the
situation. The education level has significant role in decision making process of the organization
as educated and experienced manager is better to understand those aspects that have hidden
affects on the organization. The project is based in Vrik Communications limited company that
deals with supply of Vodafone products. The project of this company has failed due to adopt
incorrect strategies of management and lack of knowledge.
Management Problem
The management problem in the context of Vrik Communication is overconfidence and lack of
adequate human capital skills that lead to business failure. Manager of the company is ignoring
to make the daily report of its financial activities that may lead business into adverse situation.

Managing Research 5
Failure to execute any function can lead to businesses failure.

Managing Research 6
Literature review
The main aim of this literature review is to define the existing knowledge regarding the ongoing
management concerns within an organization. The review is conducted on showing the
importance of functions of management that leads the growth of the organization.
Overconfidence can be the major cause of failure of the business as it ignores the sustainability
of the business.
Importance of functions of management
The management has specific function such as planning, organizing, controlling, coordinating
and leading. The lack of one of them function can lead the organization into adverse situation
thus it is required for the company to observe the skills of the manager at the time of appointing.
Vrik Communication is facing management issues because of ineffective approach of the
manager. It has been analysed by Fayolle and Gailly, (2015), that managers are person who are
required to attain their goals by other people at the workplace. Today’s environment has become
more competitive and that is why it is required for them to show their good interpersonal skills.
There are various environmental challenges that are faced by them at every stage of the
company. The role of management function in such challenges is huge as they entertain all issues
with more efficient manner.

Managing Research 7
Impact of education level on the business’s success
It has been found that there are number of arguments to sustain the survival of a relation with a
harmful sign between informal entrepreneurship and education. The higher level of education of
an individual is more aware of the likely sanctions and fines that might result from bringing out
informal professional activities. According to Helfat and Peteraf, (2015), they are become more
aware about the morality and the negative influences on their social status. A manager of the
company has a lot of responsibility which can be fulfilled if manager has certain knowledge
about the issues and concepts. It has been stated by Rauch and Hulsink, (2015), that education
mattes a lot within the organization and that is why it is required for the company to evaluate the

Managing Research 8
education of the manager at the time of appointing which can be judged with the help of written
or verbal tests (Bridge and Dodds, 2018).
Important factor to succeed in meeting organizational goals
According to Harper, (2015) there are various factors that affect the organizational performance
in positive manner. Baptista, Karaöz and Mendonça, (2014), suggests that multi-tasking, decision
making skills, leadership, motivation, business development skills and effective communication
are basic skills that should be in manager as it facilitates to cope up any conflict situation. Team
work can enhance the productivity and attain the objectives of the company within time frame
and it could be possible in the organization of Vrik Communication with the help of these skills.
It has been discussed that the company has attained good response of its expansion in its starting
two years and after that company is facing various issues. According to Valerio, Parton and
Robb, (2014), lack of proper knowledge about the work process may lead the company in
adverse situation on the on the hand by getting instant gradual sales increase in start-ups
promotes overconfidence of managers (Van Knippenberg, Dahlander, Haas and George, 2015).
Reason behind overconfidence
Over confidence of the manager can damage the position and goodwill of the company that is
why it is required for the top authority of the company to analyze the situation of the company
time to time and evaluate with those factors that bring it on higher position. On the basis of
overconfidence bias, manager of the company can overvalue their expertise in order to evaluate
their area of investment which may hold undiversified and risky portfolios (Cloutier, Felusiak,
Hill and Pemberton-Jones, 2015). This kind of manager does not want to get others opinion in
their work process along with that they do not want to observe the market monopoly. Vrik
Communication’s managers are unable to make effective accounts calculation as well as books

Managing Research 9
and only keep their concentration on monthly turnover. According to Pucciarelli and Kaplan,
(2016), it is vital for the organization to keep focus on the availability of resources and their
contribution in the aim of the organization instead of observing the monthly turnover. It can be
improved if organization analysis day to day activities of the employee and provide training and
development program not only to the employees but also to the employer or leaders.
It has been found that various factors such as lack of basic skills and overconfidence can impact
the entire structure of the company. It is crucial for the company to observe those areas through
need assessment which require training program. Training program should be conducted with
efficient manner with including how to behave or work within the organization (Cloutier,
Felusiak, Hill and Pemberton-Jones, 2015).

Managing Research 10
Research Design
Two stage of the research design is crucial after the completion of the literature review. It is
because of the creation of new research objective and the target market must be précised. It is the
part of the research that facilitates to know from where data is collected.
Research design and justification
There are various kinds of research design that considerably facilitates to decide the design of the
research project. Exploratory and descriptive are two major research design that increase the
importance of the research. Exploratory research design is designed to develop ideas in case of ill
defined hypothesis. It is applied in the research project to diagnosis the issues and screen the
alternatives. The new ideas can be generated in significant manner with the help of this research.
The strength of the exploratory research design is to generate insights and resolve the concerns
regarding the research project (Collatto, Dresch, Lacerda and Bentz, 2017). On the other hand
descriptive research design is designed to present a summary of some factors of the environment
when the hypotheses are cautious and tentative in nature. It is unable to make the link between
the factors. The strength of the descriptive design within the research is accurate description.
Both exploratory and descriptive research designs are opted for this research study because with
the help of exploratory research design, researcher would be enabled to gather the information
regarding the management issues within the organization. On the other hand, descriptive research
design helps researchers to understand the characteristics of an individual and group. Along with
that it facilitates to collect the different perceptions of the participants, in order to meet the
objective of this research paper (Hyman and Sierra, 2010).

Managing Research 11
Sources of data for the research
Data can be gathered from two resources such as primary data and secondary data. Primary data
is collected for the research at very first time which has the feature of fresh data. On the other
hand, secondary source of data has been previously gathered for some other project. The
researcher has chosen both methods to gather the data regarding the chosen topic. The use of
primary data collection sources is efficient to get data by making direct interaction with people
for knowing their perceptions and views regarding management issues within the organization.
On the other hand the usage of secondary data is effective to develop the depth and theoretical
understanding about the research concerns (Gratton and Jones, 2010). The researcher facilitated
to accumulate data from various resources such as articles, books, websites and journals to
develop the trustworthiness of research outcomes. In the context of primary data, survey is the
effective approach that facilitate researcher to get quick response from participants to know their
response regarding the issues.
Conceptualisation and measurement
There are various approaches to conduct the research which can be classified in to qualitative
approach and quantitative approach (Klenke, 2015). This research is involved both approach of
research in which quantitative as well as qualitative approach which would be helpful to draw
the effective conclusion from the evaluation of the subjective and quantitative data (Flick,2013).
There are various kinds of variables but the most important is independent and dependent
variables. The independent variable is considered as the core of the experiment. It is isolated
which can be manipulated by the researcher. On the other hand dependent variable is the
computable outcome. In the context of research topic, dependent variable is organisational
performance because it can be changed (Gray, 2013). It is dependent on the management issues

Managing Research 12
because when the issue of management is resolved the performance of the organization can be
improved significantly. In the regards of qualitative research, the research questions will be
addressed in an adequate manner. The research questions of this research topic are defined
below.
 In what ways does a manager’s overconfidence and lack of adequate human capital skills
lead to business failure?
 What is the role of management functions within the organization to increase the
productivity of the company?
Both methods of the research are helpful to attain the objectives of the research in which the
research question can be addressed in significant manner by gathering the data. The data will be
defined from quantitative approach in graphs with brief summary so that the information about
the graph can be understood by the researcher (Marshall and Rossman, 2014).
Data collection/generation methods
Data collection is referred as the collection of the data in more systematic manner from the
various sources to meet the objectives of the research. The effective collection of the data assists
researchers to enhance the knowledge about the research concerns, which is also attractive to
make conclusions regarding to the research issue. Primary and secondary are two methods which
facilitate to gather the data in an appropriate manner (McNabb, 2015). Data is collected with the
help of both method in which survey is being conducted in the context of primary data. Survey is
effective approach that helps researcher to collect data regarding the concerns of management
from large population (Wan, Mao, Hsieh and Chen, 2017). Random sampling method is opted to
gather the data from the survey as it provides the equal opportunity to every individual of being