524 Assignement (Completed) Assg # 02

8/13/2019 524 Assignement (Completed) Assg # 02

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Table of ContentsResearch ........................................................................................................................................................ 1

Business Research ......................................................................................................................................... 1

Financial Data ............................................................................................................................................ 1

Consumer Feedback .................................................................................................................................. 1

Product Research ...................................................................................................................................... 2

Competitive Analysis ................................................................................................................................. 2

Industry Data ............................................................................................................................................. 2

What managers do? ...................................................................................................................................... 2

Experience, Hunch or Hope?......................................................................................................................... 2

Good Decision Making fetches YESto the following questions.................................................................... 3

Examples of Business Problems .................................................................................................................... 3

Types of Business Research .......................................................................................................................... 3

Applied Research ...................................................................................................................................... 4

Basic Research........................................................................................................................................... 4

How is it helpful? .......................................................................................................................................... 4

Managers and Research ................................................................................................................................ 4

How to locate and Select a Researcher? ...................................................................................................... 4

The Manager Researcher Relationship ......................................................................................................... 5

To summarize, the manager should make sure while hiring researchers or consultants that: ............... 5

Internal Versus External Consultants-Researcher ........................................................................................ 5

Internal Consultants/Researchers ............................................................................................................ 5

Advantages of Internal Researcher ........................................................................................................... 5

Disadvantages of Internal Researchers ..................................................................................................... 6

Advantages of External Researcher/Consultant ....................................................................................... 6

Disadvantages of External Researcher/Consultant .................................................................................. 6

Ethics in Business Research .......................................................................................................................... 6

Ethics of Business Research .......................................................................................................................... 6

Importance of Business Research in Management Functions ...................................................................... 7

Testing New Products ............................................................................................................................... 7

Ensuring Adequate Distribution ................................................................................................................ 7

Measuring Advertising Effectiveness ........................................................................................................ 8


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Studying the Competition ......................................................................................................................... 8

Why Is the Business Research Process Necessary to Assist Managers? ....................................................... 8

Defining Business Objective ...................................................................................................................... 8

Data Collection .......................................................................................................................................... 9

Analysis ..................................................................................................................................................... 9

Alternatives ............................................................................................................................................... 9

Decision Making ........................................................................................................................................ 9

CASE STUDY:................................................................................................................................................ 10

History: ........................................................................................................................................................ 10

Offering mobile financial services ........................................................................................................... 10

Contributing to Pakistan's economy ....................................................................................................... 10

Business Research in Telenor:..................................................................................................................... 11

Research .................................................................................................................................................. 11

Telenor R&D Department: ...................................................................................................................... 13

Marketing Research in Telenor ............................................................................................................... 13

SWOT ANALYSIS: ......................................................................................................................................... 13

STRENGHT: .............................................................................................................................................. 13

WEAKNESS: ............................................................................................................................................. 13

OPPORTUNITY: ........................................................................................................................................ 14

THREATs: ................................................................................................................................................. 14

Conclusion: .................................................................................................................................................. 14

Recommendations: ..................................................................................................................................... 15

REFERENCES ................................................................................................................................................ 15


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Business Research and Management

Effectiveness

"The secret of success is to know something nobody else knows.

Aristotle Onassis

Research

It is a process of finding solutions to a problem after a thorough study and analysis to thesituational factors

Business ResearchBusiness Research is an organized, systematic, data based, critical, objective, scientific enquiry

into a specific problem, undertaken with a purpose of finding answers or solutions to it.

Business research is a field of practical study in which a company obtains data and analyzes it in

order to better manage the company. Business research can include financial data, consumerfeedback, product research and competitive analysis. Executives and managers who use

business research methods are able to better understand their company, the position it holds in

the market and how to improve that position.

Financial Data

Financial data takes qualitative information--such as sales reports, revenues and cost reports--

to see what areas make money and what costs money. By reviewing data, managers can find

the products, staff and departments that are most efficient and determine areas ofunnecessary costs.

Consumer Feedback


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Understanding what the public says about the products and services a company provides is

essential to making sure the company is meeting consumer needs. Customer feedback includes

case studies, focus groups, customer surveys and questionnaires.

Product Research

Product research seeks to improve the product to meet the needs of consumers. This may

include technological advancements, improved customer service or access to the product

through a variety of distribution channels.

Competitive Analysis

Competitive analysis is when one company compares its products and services to those ofanother company. This can be done to improve the product, create a niche or determine a

more attractive price point to lure customers.

Industry Data

Using research tools such as the information compiled by Dun & Bradstreet can help a company

to understand how the industry as a whole is doing. This can help executives make decisions

based on economic factors affecting their industry that are not limited to their own products.

What managers do? Make several decisions Solve problems

What would help you to make right decisions?

Will it be your experience on the job?

Or hunch?

Or you just hope for good luck?

Experience, Hunch or Hope?

All of these will play a part after you have thoroughly investigated the problem situationand generated some alternative solutions to choose from.

Whether or not managers realize it they are constantly engaged in research as they tryto find solutions to the day-to-day problems; big or small, that confront them at work.


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Good Decision Making fetches YESto the following

questions

Do managers identify where exactly the problem lies? Do they correctly recognize the relevant factors? Do they know what type of information to be gathered and how? Do they know how to make use of the information collected and draw appropriate

conclusions to make the right decisions?

Do they know how to implement the results of this process to solve the problem?

Examples of Business Problems

AccountingBudgets control systems, inventory costing methods, accelerated depreciation taxation

methods are some areas that are researched.

ManagementStudy of employee attitude and behavior, HRM, POM, strategy formulation.

FinanceFinancial Ratios, mergers and acquisitions, mortgages, operations of financial

institutions

MarketingProduct image, Advertising, Sales promotion, packaging, pricing, after sale service,

new product development etc.

Types of Business Research


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Applied Research

Research done with the intention of applying the results of the findings to solve specific

problems currently being experienced in the organization is called Applied Research.

Basic ResearchResearch done chiefly to enhance the understanding of certain problems that commonly occur

in organizational settings, and seek methods of solving them is called basic or fundamental

research. It is also known as pure research.Such knowledge generated is usually later applied inorganizational setting for problem solving

How is it helpful?

1. Identify and effectively solve minor problems in the work setting.2. Know how to determine good from bad research.3. Appreciate and be constantly aware of the multiple influences and multiple effects of

factors impinging on a situation.

4. Take calculated risks in decision making, knowing full well the probabilities associatedwith the different possible outcomes.

5. Prevent possible vested interests from exercising their interests in a situation.6. Relate to hire researchers and consultants more effectively.7. Combine experience with scientific knowledge while making decisions.

Managers and Research

Managers with knowledge of research have an advantage over those without. Though you yourself may not be doing any major research as a manager, you have to

understand, predict, and control events that are dysfunctional to the organization

Due to complexity of modern organizations and the uncertainty of environment theyface, the management has become one of constant trouble shooting in workplace

This Research will help managers sense, spot, and deal with problems before they getout of hand.

How to locate and Select a Researcher?

Through telephone directories. The consulting firms will provide lists of individuals that have expertise in specific areas.


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Other organizations that have used their services can also be contacted to ascertain themerits and effectiveness of the individuals and the reputation of the firm.

The Manager Researcher Relationship

When the manager is knowledgeable about research, then the interactions between themanager and researcher become more meaningful purposeful and beneficial to both

organization and the researcher.

Managers provide information. What records will not be made available.

To summarize, the manager should make sure while hiring

researchers or consultants that:

The roles and expectations of both parties are made explicit. Relevant philosophies and value systems of the organization are clearly stated, and

constraints, if any, communicated.

A good rapport is established with the researchers, and between the researchers andthe employees in the organization, enabling the full co-operation of the later.

Internal Versus External Consultants-Researcher

Internal Consultants/ResearchersSome organizations have their own consulting or research department, which might be called

the Management Services Department, the Organization and method department

Advantages of Internal Researcher

The internal team is readily accepted by the employees where research is to be done. The team requires much less time in understanding the structure. They would be available for implementation after the research findings are accepted, if

bugs appear it would be removed with their help.

Cost is less as compare to external team.


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Disadvantages of Internal Researchers

They may fall into stereotype way of looking at the organization and its problems. There is scope of certain powerful coalitions in the organizations to influence the

internal team to conceal, distort or misrepresent certain facts.

They might not be perceived as experts by the staff and management. Certain organization biases of the internal research team might in some instances make

the findings less objective and less scientific.

Advantages of External Researcher/Consultant

The external team has a wealth of experience as they have worked with variousorganizations. They would think divergently and convergent rather than hurry to an

instant solution on the basis of apparent facts in the situation.

They have periodic training programs. External research institutions ensure that theirmembers are current on the latest innovations through periodic organized training

programs.

Disadvantages of External Researcher/Consultant

The cost of hiring External Researcher is usually high. They seldom get a warm welcome, nor are accepted by employees. The external team also charges additional fees for their assistance in the

implementation and evaluation phases.

Ethics in Business Research

Ethics in business research refers to a code of conduct or expected societal norm of behavior

while conducting research

Ethical conduct applies to Organization Members sponsoring the research The researchers who undertake the research The respondents who provide them with the relevant data

Ethics of Business Research

The person instituting the research should do so in good faith.


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Pay attention to what the results indicate. Surrender the ego. Pursue organizational rather than self interest. Ethical conduct should be reflected in the behavior of the researchers, participants who

provide the data, analyst who provide the result and the entire research team who

provide the interpretation and suggests alternative solutions.

Importance of Business Research in Management

Functions

Companies conduct business research for a number of reasons, including gathering crucial

information on consumers and business clients. However, companies must make sure they use

the correct methods for collecting customer information. Most company market researchers

use phone surveys when they want to get reliable information quickly. However, companiesmust make sure they complete enough surveys so the results can best represent opinions of

the entire demographic.

Testing New Products

Business research tests the potential success of new products. Companies must know what

types of products and services customers want before they market them. For example, a

restaurant chain may initially interview focus groups to test half dozen types of fish meals. The

focus groups will likely consist of small groups of customers. The objective of the focus group

may be to determine which fish meal customers like the best. The company may even use

customer input in naming the entree and ask how much consumers would spend for the meal.

Eventually, the company may test the fish meal through surveys with larger groups of people.

Ensuring Adequate Distribution

Companies may also use business research to ensure the adequate distribution of their

products. For example, a telephone directory publisher may conduct a distribution follow-up

study to make sure phone directories have been delivered to all residential customers.

Publishers of telephone directories base their advertising rates on distribution. Therefore,

ensuring that all residences receive phone books is crucial to the success of the publisher's

business clients. Similarly, a consumer products company may want to talk to retailers about all


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the different brands they sell. The results of the business research will help marketing

managers determine where they need to increase their product distribution.

Measuring Advertising Effectiveness

Companies use business research to determine the success of their advertising. For example, a

milk manufacturer may want to know what percentage of the population saw its most recent

television commercial. The milk company may find that more people become aware of its

advertising the longer the television ad runs. The milk company may need to run its television

advertisements at different times if few people have seen the commercials. Companies also use

business research to see if consumers recall the message or slogan of their commercials.

Studying the Competition

Companies often use business research to study key competitors in their markets. Companies

will often start with secondary research information or information that is already available. For

example, a software company may want to know the percentage of customers in the market

who purchase its products versus competitors' products. The researchers can then study the

purchasing trends in the industry, striving to increase their company's share of the market.

Companies will often need to increase their market share in an industry to increase sales and

profits.

Why Is the Business Research Process Necessary to

Assist Managers?

Business research is the process of gathering the necessary data for an industry to be

successful. Business research is synonymous with market research, but companies typically use

every type of market research available to fully analyze their business situation: industry

analysis, product research, and even identifying key customer groups. The business research

process is necessary to assist managers in making major business decisions.

Defining Business Objective

Before a business can start operating, it first must define its business. For example, a new

discount health-care company may define its objective as providing affordable health care to

individuals and families. After a company defines its main objective, it then is ready to study the


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industry and competition. The process of defining a business objective is necessary for

managers to properly align their business plans with the right customers.

Data Collection

Companies usually start the data collection process by studying secondary research data. Some

of this information may be available in business articles or at local libraries. A company often

will need to purchase this data from vendors. Businesses can acquire information through

secondary research about the size of their industry and how sales have trended. The second

part of data collection entails primary research surveys. Companies do research surveys to

measure satisfaction among customers, to ensure that the customer's needs are being met

with current products and to identify consumers that are most likely to use their products.

Analysis

Marketing managers and other business professionals analyze data so they fully understand

where they stand versus competitors in sales volume and market share. A company may also

learn more about its key strengths and weaknesses versus competitors. For example, secondary

research may reveal that a key competitor is on the verge of merging with another company.

Another competitor may be suffering financially. Additionally, analyzing primary research can

help a company understand how it fares against competitors in product quality, service, price

and value. Customers also may want additional features added to the company's products. Theultimate goal of the analysis stage is to start developing some relevant choices or alternatives.

Alternatives

After fully analyzing all available data, business managers usually will list possible alternatives

for harnessing strengths and overcoming weaknesses. These alternatives eventually will need

to be winnowed down to one viable solution or alternative. The goal of this solution will be to

better satisfy key customers, increase distribution or whatever it takes to improve the

company's sales and profits.

Decision Making

Ultimately, the business research process will lead to certain company decisions or strategies.

The savvy business man knows that he can learn a lot from business research. However, he


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must also use it to avoid being outmaneuvered by competitors on important issues such as

service and product features. For example, a company may revamp its customer service

department to deal with low customer satisfaction scores revealed in the research. New

product features may be added to satisfy the sector of the market that requested them.

CASE STUDY:

History:Telenor Pakistan is 100% owned by the Telenor Group, an international provider of high quality

voice, data, content and communication services in 11 markets across Europe and Asia. Telenor

Group is among the largest mobile operators in the world with 140 million mobile subscriptions

(Q4 2011) and a workforce of approximately 30,000.

Telenor Pakistan is the country's single largest European foreign direct investor, with

investments in excess of US$2 billion. It acquired a GSM license in 2004 and began commercial

operations on March 15, 2005.

At the end of December 2011 it had a reported subscriber base of 28.11 million, and a market

share of 24% making it the country's second largest mobile operator.

Offering mobile financial services

Telenor Pakistan acquired 51% of Tameer Microfinance Bank in November 2008. In 2009 it

launched 'easy paisa' to become Pakistan's first telecom operator to partner with a bank to

offer mobile financial services across Pakistan.

Contributing to Pakistan's economy

The company continues to contribute to Pakistan's economy. It has created 3,000 direct and

25,000 plus indirect jobs and has a network of over 180,000 retailers, franchises and sales &

service centers, thus providing a means to livelihood to thousands.


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Subscribers stats for Telenor:

Market share of Telenor Pakistan:


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Less experienced employees than competitors Seth Organization Not able to capitalize on start

OPPORTUNITY:

Covering tribal areas of Pakistan. Mergers joint ventures or strategic alliances Extension to overseas Low Cellular market penetration Decline of major competitors E-Commerce Usage Mobile Number Portability IMEI System Technologically better environment More customers on newer products introduced

THREATs: Emerging companies in market Unstable political Conditions MNP Mobile Number Portability Wireless Technology at Boom New companies entrance in the telecommunication market

High Public Expectations Low Prices of competing brands Propagandas attacking

Conclusion:Telenor is a telecommunication company having fewer weaknesses because of its well

organized managerial structure and a better study of local markets. Despite of having so many

threats Telenor came with very attractive packages and captured the attention of youngsters,

shift of young generation was due to affordable rates, relaxation in Short Message Service, Easy

Load Facility and GPRS Facility all at a same time.

Telenor faced a lot of challenges during last years but survived due to strategic planning and

better distribution of sales and services.


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Recommendations:Most people associate the research and development (R&D) function of a company with the

invention of new products. Whilst this is very important, the development of existing products

is of equal significance because consumer preferences are continually changing. The task of

product research and development is to come up with the goods and services that meet theneeds of tomorrow's customers.

In Telenor Company, research and development have strictly commercial functions - to further

the company's business objectives by creating better products, to improve operational

processes and to provide expert advice to the rest of the company and to customers.

Some research is not expected to pay for itself within a foreseeable time span. Large companies

may allocate as much as one-tenth of their research budget to so-called blue-sky investigations

whose most likely contribution is to the development of new products and a possible pay-off in

the distant future.

REFERENCES

1. Internet

a. Telenor.com

b. Wikipedia

c. Ask.com

d. google.com

2. Books

a. Cooper, D. R., & Schindler, P. S. (2010). Business Research Methods (11th Ed)

524 Assignement (Completed) Assg # 02

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