Research and Decision Making The ability to craft devices to acquire data and to be able to understand, organize and extract useful information from that data, is critical in today’s business world. Companies must be able to ask the right questions, in the right way, to get the most relevant information to their situations. Knowing the limitations of research is an integral part of understanding acquired information and making sound decisions based upon it. In the Managing Research Design Simulation, Coffee Time must do just that; acquired data, analyze it for information and determine the validity and limitations of that information to make important business judgments. Coffee Time is a chain of coffee bars that is very popular in the United States and Europe and now is looking into getting in the South Asia Market (Managing Research Design Simulation, 2002). In order for Coffee Time to determine if South Asia is going to be a good market to release their product, Coffee Time has to analyze different data that will help identify the various locations in India that sell coffee and other types of research needed to identify the need of coffee in this region. Conducting and analyzing this research data will help Coffee Time to see how valid and reliable this data is to make a better and final decision to invest in this region. After running the Managing Research Design simulation, it was determined to analyze these different cities within India: Ahmedabad, Mumbai, Delhi, Bangalore, Chennai, and Pune, out of the 12 cities provided to analyze. Analyzing these cities will give a better idea of the type of modern cultural outlook that population has compared to other cities. From this data, Coffee Time will be also able to analyze the demographics of the area, leisure and lifestyle of the population, how infrastructure will affect the business, and finally what kind of competition Coffee Time will be facing if they decide to establish business in India. As the simulation mentions: “Among the secondary data, the monthly income of people, the number of malls in the city, the average number of visitors in the mall, the number of sq. km, and the number of coffee chains are key indicators of market potential for Coffee Time’s products” (Managing Research Design Simulation, 2002).
From my research I had gathered enough information to determine whether or not my new business would be stable enough to survive in the current market. My results told me that there is always a way to improve a shop which provide internet and coffee. I need to change some aspects of the shop to cater for my potential customers. The most impressive way in which I conducted my market research was questionnaires. This is because it is such a quick and accurate method of getting to know the customers’ opinions and to hear constructive criticism. Through the results which I had gained I noticed a mode price that people would pay for a coffee. This will help to decide on a price that will benefit my business profitably and also satisfy the customers.
Introduction During the process of research, professionals collect data or identifiable private information through intervention or interaction. While this is a vital part of the scientific and medical fields, every precaution must be taken by researchers to protect the participants' rights. Ethics, outlined by the Belmont report; requirements, described by the Department of Health and Human Services (DHHS); and regulations, laid out by the Food and Drug Administration (FDA) are verified by an Institutional Review Board (IRB). This procedure ensures that all human rights are safeguarded during the entire research process. The Institutional Review Board The IRB is an administrative body which has been established to make sure research participants' rights are protected.
To become more efficient in its operations, Tim’s coffee shop should consider changes in its management style, human resource make-up, as well as its marketing and financial strategies. Incorporating technology into these aspects of its operations will greatly improve resource utilization.
Express Espresso had many key accomplishments and a few weaknesses. The key accomplishment that it achieved was being in first place through ten out of the thirteen decisions consecutively. Also it was rated to have the best ambiance and customer satisfaction compared to the other teams. Another accomplishment was that Express Espresso was the first café to get out of debt and have a positive cumulative net income.We also ended up with the highest customer satisfaction of 88.7 compared to the other teams. Also there was a significant increase in sales from 1,684 to 40,776 cups sold over the course of the simulation. However this was a great deal lower compared to our number one competitor, The International Café who for the last decision sold 51,378 cups, 10,602 more than our cafe did. Some of the weaknesses were the cafe ended in second place for the last decision. The second place was the fault of the management team not paying close attention to the competition, mainly The Internation...
Despite our best intentions, it is hard to bring the best evidence to bear on our decisions (Kinicki, & Williams, 2012). However, recognizing failure to promote innovation has many benefits. Thus, recognizing disappointments to promote innovation is tricky. Nevertheless, the benefits of congratulating failure can have a positive approach on a team. Furthermore, there are seven implementation principles to help companies that are committed to doing what it takes to profit from evidence-based management (Kinicki, & Williams, 2012). Those are;
The importance of economic indicators to the strategic planning process in any organization is the ability to benchmark economic conditions that contribute to improve profitability, business growth and market size. Leadership sets up the mission “to establish Starbucks as the most recognized and respected brand in the world.” In doing so, they have created a set of industry-leading, comprehensive coffee-buying guidelines addressing coffee quality, financial transparency, social and environmental responsibility. Starbucks strategy is also expanding market in globally to provide high quality coffee in convenient and visibility locations. They are continuing to innovate and extend the business with imaginative new ready-to-drink beverages and expanded packaged coffee offerings (Starbucks Corporation, 2007).
This case study revolves around Starbucks ability to launch an aggressive expansion in China, a coffee frontier steeped in nearly 5,000 years of tea, Starbucks location-scouting skills and marketing savvy will be put to the test. This case study involves three questions: 1) Should Starbucks continue its expansion in China? 2) Will the Chinese be persuaded to drink coffee instead of tea after 5000 years of no consumption of coffee? 3) Will Starbucks current marketing plan work in China without advertising?
To stay true to its mission, Starbucks must implement a marketing research plan that will bring about a clearer perspective to the ins and outs of its core customer for the proper introduction of the new “Coffee of the Month” program. The implementation of this plan requires Marketing Team A to analyze the proper marketing research tools to use for this project, including a comparison of the selected tools. Qualitative surveys, demographic research, customer research panels, and secondary data mining are the market research tools that Starbucks is considering for studying its new research project. Furthermore, Marketing Team A will analyze the most, and least, applicable research tools to use before moving forward toward unveiling its proposed “Coffee of the Month” Program.
Caf? Expresso, as the first mover in the coffeehouse marketplace, which has expanded quickly and become one of the ?big three? players in the global coffee shops chain. However, recently this company is continuously facing a lot of problems in terms of its staff, easy-copied business model and product range, resulting this company lost its leading position to the number three. Therefore, its adjusted visionary goal is ?return Caf? Expresso to the number one position in the marketplace? (Beardwell, 2010). To achieve this goal, Caf? Expresso identifies ?the coffee drinking experience? is significant to achieve competitive advantage and customer value-added, which was delivered through three key elements (graph 1),
This Marketing report comprises of information regarding Coffee Bean and Tea Leaf, a renowned coffee retailer founded in the US. This report begins with an introduction of the company that discuss the origin and elements that this report focuses on, then followed by the vision, mission and values of the coffee retailer for the coming years. Then, it discusses the situational audit of the company where in it provides information about the internal analysis using the strengths and weaknesses of the company. The external analysis continues in the form of a PESTEL analysis which focuses on the factors that affect Coffee Bean and Tea Leaf course of business. A further analysis will take the form of Porter analysis that defines the competition the
Drinking coffee has always been a strong culture in Malaysia.There was a survey that showed that Malaysian drinks 2.38 cup of coffee daily. Drinking coffee used to be an early morning routine, but now it is an all-day activity. As Malaysian’s drinking coffee habit is rising significantly, the coffee house business is also grown along with the drinking habit. Coffee house in Malaysia was started from a traditional chinese coffee house that called as kopitiam. As the west culture started to influence the market, they introduced Malaysia to a “cafe” concept. International coffee shops chains started to enter the Malaysia coffee shop market with the cafe concept applied. In fact, this concept seems to attract generation Y as the customer. Starbucks coffee is one of the most famous and successful international coffee shop chain in Malaysia. Starbucks was first opened in Seattle in the year of 1971. It grew very intensely and now it owns 16,635 stores all over the world, included 115 stores in Malaysia. Starbucks got in to the Malaysia market through the mode of licensing. Berjaya Corporation Berhad obtained the license to operate Starbucks Coffee. Just like another coffee shops, Starbucks Coffee sells coffee-based drinks, non-caffeine beverages, tea-based drinks, coffee-related souvenirs, equipments, and coffee beans. Starbucks coffee is now one of the most successful coffee shops among the competitors. Even there are lots of international coffee shop chains such as coffee bean and San Fransisco coffee, also other new independents local coffee shops with cafe concept, starbucks still able to manage the loyalty of their customer. But in the other hand, there have been some words of mouth that said that for a coffee shop tha...
An employee does an unsatisfactory job on an assigned project. Explain the attribution process that this person's manager will use to form judgments about this employee's job performance.
Research philosophy, refers to the development of knowledge adopted by the researchers in their research (Saunders, Lewis and Thornhill, 2009). In other words, it is the theory that used to direct the researcher for conducting the procedure of research design, research strategy, questionnaire design and sampling (Malhotra, 2009). It is very important to have a clear understanding of the research philosophy so that we could examine the assumptions about the way we view the world, which are contained in the research philosophy we choose, knowing that whether they are appropriate or not (Saunders, Lewis and Thornhill, 2009). According to Saunders, Lewis and Thornhill (2009), three major ways of thinking about research philosophy are examined: ontology, epistemology and axiology. Each of them carries significant differences which will have an impact on the way we consider the research procedures. Ontology, “is concerned with nature of reality”, while epistemology “concerns what constitutes acceptable knowledge in a field of study and axiology “studies judgements about value” (Saunders, Lewis and Thornhill, 2009, p110, p112, p116). This study is intent on creating some “facts” from objective evaluations which are made by the subjects. Therefore, epistemology will be chosen for this study as the way of thinking about the research philosophy.
Making decisions is an important part of our everyday life. Decisions define actions and lead to the achievement of goals. However, these depend on the effectiveness of the decision-making process. An effective decision is free from biases, uncertainties, and is deeply dependent on information and critical thinking. Poor decisions lead to the inability to achieve set objectives and could lead to losses, if finance is a factor. Therefore, it is important to contemplate about quality and ways to achieve it in decision-making, which is the focus of this paper. The purpose is to look into the needs of decision-making, including what one should do and what one should not do.
With clear core values towards providing quality coffee, the best service, and atmosphere, Starbucks has enjoyed great success since it was founded 30 years ago. The company has being doing very well for last 11 years with 5% or more store sales increase, even with the rest economy still reeling from the post-9/11 recession. However recent research, conducted to Starbucks, have showed some concerns regarding company’s problem meeting customers’ expectations.