To complete this assignment on research method process for strategic managers, I will locate a local business and submit a research proposal

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Borough College London

Course: Level 7 BTEC Advanced Professional Diploma in Management Studies

Assignment: Research Methods for Strategic Managers

Research Question. Explain about your research question taking into account your hypothesis, research method, preparation and methodology and justify your choice. You should conduct individual preliminary investigation before selecting your research question. Prepare an action plan with target dates and methods for monitoring and updating

  • Literature Review. Analysing
  • Data for Research Proposal.
  • Presenting a Research Proposal and its Evaluation.
  • Conclusion and Recommendation.

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Contents

  1. Abstract
  2. Introduction
  3. Research questions and methods
  • Questions
  • Methods
  • Market orientation
  • Marketing theories
  1. Action plan
  2. Case study
  3. Literature review
  4. Theory formulation
  5. Research methods and design
  • The purpose of research
  • The type of investigation
  • The extent of research interference
  1. Research analysis
  2. Research data collection
  • Interview
  1. Research findings
  2. Conclusion and recommendations
  3. Literature
  4. Appendix
  • Questionnaire

Abstract

To complete this assignment on research method process for strategic managers, I will locate a local business and submit a research proposal. The purpose of this research is to help design a plan of research methods for strategic managers which they are interested in undertaking and to explain this project to other people.

The research methods include:

  • What is the main research question?
  • What are research methods and techniques?
  • What is the main hypothesis?
  • What data collection and techniques?
  • Research analysis
  • Findings
  • Recommendations

The evaluators will be less well informed about the background and motivation of my research methods, so I will have to provide information that will help put the details in perspective. No two methods are alike, and there is no general recipe which, if followed to the letter, will guarantee a good research. Most methods do share—or can share—a few common structural features, however. These are indicated by the headings below. A good method includes either a hypothesis (keep in mind that a hypothesis is not a foregone conclusion but a testable scientific idea) or a problem statement (a recognized problem in need of a solution). It is important to be realistic about the impact of my research project. While it may be unlikely that my project will result in a major breakthrough, indicate how it is a part of a research plan to address a larger scientific question.

Introduction

Research methods are the basic need which cannot be ignored by any strategic manager in any way, anywhere. This is most recent trend in fulfilling business world and this basic need used by many strategic managers in any organisation. Any organisation has a number of players in this regard that seek good strategy in quick, innovative and satisfying ways is very important thing. But the modern business world does not permit any segment of any type of business to exist in isolation. All businesses have to face competition at some point in their life-span, both local and foreign. Anticipating this competition is natural for any business, but fighting it off and retaining its customers is quite a different ball game.

In my assignment I will research my local fast-food restaurant which is was open by people from my country Lithuania. To this fast-food restaurant I am going every Friday with my boyfriend. I have chosen this fast-food restaurant because I would like to research and understand strategy in this recession tome to see it growth and downside.

After recession in 2008 started this restaurant was nearly surviving but it started losing profits and a place among other big food providers. A few years ago, local restaurants like “Juada Balta” alone were seeking to fulfil this need and were actually able to cater to Lithuanian consumers quite well. But when foreign franchises like KFC, McDonald’s, and Pizza Hut expanded operations into this area “Juada Balta” faced a huge setback, as it failed dismally to retain its customers, who drifted away to the new restaurants in flocks. The local consumers saw an opportunity to experience different and varying tastes right in their hometown, tastes which they were not aware of before except by hearsay. Attracting local consumers towards themselves was not as difficult as retaining them, a task which these foreign franchises achieved wonderfully, and a task which left “Juada Balta” floundering in confusion at its own home turf, thereby hurting the their profitability along with itself as a local business.

Through this example, let’s first look at what strategy managers faces with. “Juada Balta” is a chain of local food restaurants serving fast food at different locations at Beckton. It remained a thriving business until the late 1990s when suddenly McDonalds, KFC and Pizza Hut jumped in. “Juada Balta” was a hot choice of fast food lovers then, but they began exploring the newly introduced variety of restaurants. “Juada Balta” still exists but the exponential growth it should’ve experienced is nowhere to be seen.

Research Questions and Methods

On this research my main the main questions arise for strategic managers:

  • Which country does “Juada Balta” belong to and who owns the international food chains operating in Beckton?
  •  How do the local food chains lose business when international food chains enter the scene?
  • What impact does losing of business by the locals or gaining of business by the internationals have on the UK’s economy?

“Juada Balta” belongs to Lithuanians as the owner is purely a Lithuanian. The international food chains are owned by big conglomerates operating mainly from the Europe, such as Pizza Hut, KFC and McDonalds.

Methods

The fault in the decline of local fast-food business lies with Lithuanian food chains such as “Juada Balta”, etc., as well as with strategic managers in the organisation who either did not get it right or were corrupt. Thus the methods now are:

  • What capabilities do I (the manager) require to make effective marketing decisions?
  • What are the main environmental factors that affect the way "my" organization seeks a sustainable competitive advantage?
  • What strategy or approach can help "my" organization achieve competitive advantage in its field of operation?
  • Why is innovative and creative thinking ability of managers essential in making strategic marketing decisions?
  • What are the points that are considered as strengths and weaknesses in the process of marketing decision-making?
  • How important is the consideration of product life cycle in strategic marketing decision- making?

Market Orientation

This attempt's to understand and then satisfy the needs of customers through products. Satisfying customer needs is given utmost importance (Conant and Michael,1987,page 21-32) Worldwide View of Marketing The organization must have a worldwide view of marketing if aims to grow large and function beyond the boundaries of the country. The worldwide view, also termed as global marketing, is a concept that takes the organization a step ahead in terms of profits, customers, products and competition. There are various strategies and theories that fall under the worldwide view:

Integrated Global Marketing Strategy: globalizing all aspects of the organization Global Product Category Strategy: capture a certain category of product worldwide.

  • Global Segment Strategy: Targeting the same segment globally.
  • Global Marketing Mix Strategy: globalizing marketing mix elements based on global logic.
  • Global Branding Strategies: using the same brand name or logo worldwide.
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Marketing Theories

Following "Market Orientation" concept is not enough to attain growth, but carefully formulated marketing theories and strategies must be implemented. The organization, after selecting a theory on the basis of thorough research, must ensure proper strategies are devised and duly put into action. Some of the theories used in marketing are defined below:

  • Value Innovation and the Value Curve: Identifying what customers value the most and innovating change accordingly.
  • Porter's Five Forces of Competition Framework: Understanding industry competitiveness and market-entry strategy.
  • Market-Oriented Ethnography: Understanding consumers by observing their behaviour rather than by researching their attitudes. ...

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