Effects of the Proper Research and Strategic Management Lit review
Introduction
Brainstorming new great ideas is always fun especially when its something that interest you and that you have a passion for. Having a special interest will help you to keep focus on your main goal and ultimately gear you towards the goal that you set forth. You always make sure that the information that you receive is useful (Lawler, Jossey-Bass, 1985). Before you can make a goal for this specific area of interest some may say it is wise to set forth some kind of order by making a plan first. Here is where the hard work comes in and where you really want to get into the nitty gritty by conducting a concise form of research. By conducting a form of research it may very well help you to accumulate most of the information you will need to gain the necessary tools to assist you with your final outcome. There are many ways to research a topic, but you always want to find the research that is the most effective for your product and or service.
Formal Research
Formal research is a form of conducting an experiment under controlled conditions in order to discover, demonstrate or test a hypothesis. For example a company may conduct formal research on a specific product that they would like to introduce then research competitors and evaluate how market the same product and how well they have succeeded based on a studied hypothetical assumption (What Is the Theory on a Business Proposal Vs. A Formal Research, by Mary Jane, Demand Media, paragraph).
Formal Research Example 1
In business it is very important to conduct research so that you gain insight on what product that to are selling, the customer whom you are selling to, and the competitors who you would be i...
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...& Oguntebi, J. (2012). Toward learning and knowledge creation: operationalising the Social Learning Cycle. Journal Of General Management, 37(4), 29-53.
• Lesley Spencer Pyle Entrepreneur; Market Research – The Basics; September 2010
• Mary Jane , What Is the Theory on a Business Proposal Vs. A Formal Research, Demand Media, 2008.
• McDaniel, S. W., & Parasuraman, A. A. (1985). Small Business Experience With and Attitudes Toward Formal Marketing Research. American Journal Of Small Business, 9(4), 1-6.
• M. Ronald Buckley, Gerald R. Ferris, H. John Bernarain, Micheal G. Harvey, The Disconnect between Science and Practice of Management; Business Horizons, 1998, pg 31-38.
• Pervaiz K. Ahmed, Mohammed Rafiq, Norizan M. Saad, (2003) "Internal marketing and the mediating role of organisational competencies", European Journal of Marketing, Vol. 37 Iss: 9, pp.1221 - 1241
Aaker, D. A., Kumar, V., & Day, G. (2007). The Marketing Research Process. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx.
Companies use marketing research to identify problems or opportunities that they might encounter. Organizations may also use marketing research to identify their strengths and weaknesses, and certain trends that are forming in their market. H&R Block is a tax service company that prepares state and federal taxes for individual customers and small to mid-size companies (H&R Block, 2010). This company has defined their marketing research and has different types of marketing research techniques it uses. Furthermore, there are other types of H&R Block’s marketing research techniques that would be beneficial to if they were implemented correctly.
Organizations need to maintain their competitive advantage by quickly adapting to change and promoting new and innovative strategies to ensure their success. Researchers have determined that since most popular strategies focus on people and knowledge as assets in order to improve performance, learning at all levels is necessary for an organization to succeed (Kotter, 2012). Therefore, organizations should function as Learning Organizations (LOs) by creating an environment where members can learn continuously (Slater and Narver, 1995). Senge (1990: 3) considered a LO to be an organization “where people continually expand their capacity to create the results they truly desire, where new and expansive patterns of thinking are nurtured, where collective aspiration is set free, and where people are continually learning to see the whole together.” Others, such as Pedler et al. (1998: 3) simply defined it as “an organization that facilitates the learning of all its members and consciously transforms itself and its context”.
Michael R Solomon; Bradley Barnes. (2009) Marketing: real people, real decisions (1st Edition). Harlow : Pearson Education Limited pp.492-494
When conducting research, when is it conducive to use primary research over secondary research and vice versa? Both research techniques are viable and beneficial. They each have purpose and can be used as a marketing research template when conducting research. Both techniques are equipped with tools that can be used to guide a researcher through the research process. If these tools are properly adhered to, the research process can be seamless and quite effective. Moreover, market research can assist a researcher in making accurate decisions and improve the chance of success. This paper will explain the difference among research tools used in primary and secondary research. It will also depict the differences in primary and secondary research when using qualitative and quantitative approaches. Additionally, it will indicate which tools are used for each approach and why.
Whenever a company has a new product or service it would like to offer to the public there are always questions it needs to answer and analyze first. For instance, who is the target market or markets we want to appeal to? Is the market receptive to a new entry or are the products or services already there sufficiently entrenched barring any successful new release into the market? How well will our product or service address the wants and needs of our customers? The answer to each of these questions requires this firm to conduct research, specifically market research, to gain the knowledge they seek. Using the Valley Yellow Pages Company as an example, this paper will define market research, identify the different types of marketing research used, and describe the importance of this research to the organization.
Sekaran U. (2003) Research Methods for Business: A Skill Building Approach 4th ed. New York: Hermitage Publishing Service
Transfer and New Product Development: A Study of Manufacturing Firms in Malaysia. University of South Australia.
The conduction of research has developed inspiration and brought ideas of potential projects to mind. This memo will discuss the inspiration and ideas developed from specific TED and scholarly articles.
Polaris Marketing Research (2008). Marketing Research Process: An Overview. Retrieved May 8, 2008, from http://www.polarismr.com/edctr_overview.html
Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing Research (9th ed.). Hoboken, NJ: John Wiley & Sons.
Marketing is a very broad term, which encompasses all the activities that help businesses in identifying their customers and needs of their target market, utilising all the communication resources in order to target their target market, eventually persuading them to purchase the organisations products and services. It is much broader than the concept of selling, as selling just includes techniques of direct communication used to persuade the customers to buy the products and services of an organisation. In fact, sales are the integral part of marketing. Marketing also helps organisations to utilise all resources in an efficient way to gain customer satisfaction, which will eventually help in the growth of the company. While, on one hand, marketers tend to focus on the needs and preferences of the customers, they also need to keep a close eye on their competitors (Gillespie, 2010). Companies always look to beat down their competition with providing better products and/or services, or by providing less-expensive goods to the customers than their competitors, in order to achieve or maintain the leading position in the industry. The core focus of this paper is to identify and discuss the core aspects how managers could maintain the marketing activities of the organisation in the global context.
In a learning organization, individuals are the key where they are acting in order to learn, or where they are acting to produce a result. All the knowledge has to be generalized and crafted in ways in which the mind and brain can use it in order to make it actionable (Argyris 1993)
Presently, organizations have become a complex phenomenon, which requires numerous functions and strategies to manage the human resources. In today’s world there is a great need for organizational change and learning from time to time because of increasing globalization and technological advances. Proper plans and policies should be framed for implementing organizational change (Allen & Kilman, 2001). Organization learning and change manage the performance of the employees in the organization.
Malhotra, N.K., 2002. Basic Marketing Research: A Decision-Making Approach. Upper Saddle River, New Jersey.: Prentice Hall.