Bus703 Managing Research Answers | Assessment Answer

Answer:

1.1Problem and management decision

The problem with the current environment is the unwelcoming retail environment in a majority of the stores. The reachability to the cash counters is limited to tall customers and the environment is not comfortable for female customers.

The management decision shall be based on the infrastructural, operational, and technical enhancements that shall be made to the retail store (Kent and Kirby, 2009).  

1.2Research question

The following research questions shall be answered with the conduction of the research.

• What are the current issues with the retail environment?
• What are the changes that shall be made to enhance customer engagement and gain competitive edge?
• What are the associated cost and schedule for implementing the changes?

The information necessary for the research will include customer preferences, current issues, market trends, and set of changes. There shall also be information gathering techniques that shall be carried out through measures, such as interviews, observations, and group discussions.

1.3(Information/Research) Objectives

• To understand the current set of issues and the changes that shall be made to improve the retail environment of the stores.
• To analyse the strengths, weakness, opportunities, and threats for gaining a competitive edge in the market (Sachdeva and Goel, 2015).
• To implement the changes those are pointed out to enhance the customer engagement and satisfaction.
• To adhere to the cost and schedule estimated for the work.

1.4 What is the subject area of business management that is relevant to this problem?

Subject area: Retailing & Marketing

Keywords: Market Shares, Customer Choices, Retail Responsiveness, Retail Environment, Tyre Retailing

Answer 2: Singaporean Management Consulting Company

Answers

2.1 Problem and management decision

The company lacks innovation and the use of emerging technologies to maintain the pace with the changing nature of technology and market. This may lead to the prevention to gain competitive edge in the market.

The management is required to decide upon the innovative techniques that it shall deploy and the staff’s perception towards the same. Cost-effective and evidence-based research is required to be done to achieve these aims.

2.2 Research question

The following research questions will be answered through the conduction of the research.

• What are the innovative techniques and emerging technologies that can be implemented for management consulting?
• What are the trends being followed by the prime competitors and new entrants in the market?
• What are the changes that will be introduced for the members of the staff? (Srinivasan, 2014)
• What is the change management approach that will be followed?

The information required for the research will be inputs from the staff in terms of current loopholes, suggestions on the use of emerging techniques, market trends, and customer choices.

2.3 (Information/Research) Objectives

The research will achieve the followings set of goals and objectives.

• To analyse and identify the emerging and innovative techniques that may be implemented in the company.
• To understand the perspective of the members of staff towards these changes (Visscher, 2006).
• To identify the market trends and patterns.

2.4 What is the subject area of business management that is relevant to this problem?

Subject area: Management Consulting

Keywords: Change Management, Emerging Technologies, Innovative Techniques, Management Market Trends

Answer 3: Fast Moving Consumer Good (FMCG) Supply Chain

Answers

3.1 Problem and management decision

A German chemical and consumer goods company is required to carry out effective and adequate supply chain management to make sure that business performance is always improved upon. The assessment of current situation shall be done to find out new initiatives that may be implemented for managing supply chains.

The management needs to assess the current scenario and determine the new measures that shall be implemented to maintain supply chain agility and faster launch of new products (Bourlakis and Matopoulos, 2010).

3.2 Research question

The following research questions will be answered upon the conduction of the research.

• What is the current state of supply chain management in the organization?
• What are the issues that need to be resolved?
• What are the new measures and tools that may be utilized to manage supply chains?

The information required to answer the research questions will include the perception of the staff members and the changes that shall be made to the organization for managing and improving the supply chains.

3.3 (Information/Research) Objectives

• To assess the current state of supply chain management in the organization.
• To determine the issues that is associated with supply chain agility in the organization.
• To develop a list of tools and measures that can be used to improve supply chain management.

To determine the benefits that improved supply chain management can have on the new system

3.4 What is the subject area of business management that is relevant to this problem?

 

Subject area: Supply Chain Management

Keywords: Supply Chain Management, FMCG, agility, supply chains, laundry and home care

Answer 4: Health Festival

Answers

3.1 Problem and management decision

The Health Festival that has to be organized by the local tourism organizations needs careful planning and analysis to make the event successful. There are multiple factors that are not yet known to the event organizers that need to be researched upon.

The management needs to determine the multiple factors, such as socio-demographic factors, location factors, festival theme, etc. to decide upon the health festival being organized and the minute details associated with the same (Lee, 2014).

4.2 Research question

The following research questions shall be answered upon the conduction of the research.

• What is the location that shall be used to organize the event?
• What are the age groups that will be involved and what will be the expected number of attendees?
• What are the multiple factors involved in the organization of the event?  

The information necessary for the research will include the environmental conditions and patterns for determining the location, socio-demographic factors, theme of the festival, and analysis of the expected attendees.

4.3 (Information/Research) Objectives

The following research objectives will be achieved with the conduction of the research.

• To determine the location for the organization of the health festival
• To analyse the attendees and age groups that will be attending the event
• To determine the factors that shall be involved for organizing the health festival

4.4 What is the subject area of business management that is relevant to this problem?

Subject area: Strategic Planning for Event Organization

Keywords: Socio-demographic factors, health festival, festival theme, attendees preference

References

Bourlakis, M. and Matopoulos, A. (2010). Trends in food supply chain management. Delivering Performance in Food Supply Chains, pp.511-527.

Kent, A. and Kirby, A. (2009). The design of the store environment and its implications for retail image. The International Review of Retail, Distribution and Consumer Research, 19(4), pp.457-468.

Lee, S. (2014). Successful event management: a practical handbook/third edition. Journal of Policy Research in Tourism, Leisure and Events, 6(3), pp.273-274.

Sachdeva, I. and Goel, S. (2015). Retail store environment and customer experience: a paradigm. Journal of Fashion Marketing and Management: An International Journal, 19(3), pp.290-298.

Srinivasan, R. (2014). The management consulting industry. IIMB Management Review, 26(4), pp.257-270.

Visscher, K. (2006). Capturing the competence of management consulting work. Journal of Workplace Learning, 18(4), pp.248-260.