Research Proposal on "Strategy Diversification"

Research Proposal 18 pages (4871 words) Sources: 50

[EXCERPT] . . . .

Business Strategy of White Cliffs Hair Studio (WCHS) and WCHS's viability succeeding within the medical industry for Non-Surgical Hair Reconstruction Devices

If You Wanted to Know the Future of Small Business, What Questions Would You Ask?"

Fuller 2003, Introduction ¶ 1).

Consideration of Questions

Fuller recounts a mini historical account of "small business from post-medieval times, through the Industrial Revolution to the present day" (Ibid.), in the study, "If You Wanted to Know the Future of Small Business What Questions Would You Ask?." The brawny message encapsulated in Fuller's study's title, which simultaneously depicts a significant study scenario, contributed to the researcher's determination for the proposed study. In a figurative sense, the proposed study "predicts" the future of White Cliffs Hair Studio (WCHS) by asking the right question/s.

Ultimately, through the development of the proposed study, the researcher will relate the determination/s from: Examining the business strategy of White Cliffs Hair Studio (WCHS) and its viability in succeeding within the medical industry for "Non surgical hair reconstruction devices." By examining components contributing to the success of WCHS, the researcher will, in turn, determine the validity of the hypothesis for the proposed study: If White Cliffs Hair Studio succeeds in fulfilling its goal to diversify and expand into the medical industry for "Non surgical hair reconstruction devices," then, along with enhanced opportunities to help patients who experience Alopecia, WCHS will simultaneously obtain the ability to increase its potential to earn more profits.

Research Questions

Research questions contributing to the determination, which will also help to maintain the proposed study's focus, include:

What business strategy does White Cliffs Hair Studio currently employ?

What effect does a business strategy have upon a business and its potential to diverge?

What factors reflect the viability of WCHS to succeed within the medical industry for "Non surgical hair reconstruction devices"?

Background to Cancer and Alopecia Patients

Cancer Concerns number of studies project the concern that approximately one in three individuals will develop cancer in some form during his/her life. Cancer currently challenges more than a quarter of a million individuals in the UK each year. (Office for national statistics 2004)

Alopecia

Alopecia, hair loss, a common side effect of chemotherapy generally begins within several weeks of the patient's initial course of chemotherapy (chemo). his/her hair re-growth, according to studies, typically begins a month after the patient completes his/her chemo treatment (Higgs 1990). In the meantime, cancer patients frequently experience extreme anxiety, with some patients reportedly considering rejecting, and some actually rejecting curative treatment (Tierney and Taylor 1991) for Alopecia.

White Cliffs Hair Studio

White Cliffs Hair Studio, which advertises itself to be, "the UK's leading provider of state-of-the-art hair replacement products and other advanced hair loss solutions" (White Cliffs 2008), reports its mission constitutes: "to improve the lives of those experiencing the trauma of hair loss and Alopecia, as well those who desire to improve their natural appearance"(White Cliffs 2008).

The following figures portray a few of WCHS's clients featured on their Web site (permission to a reproduced these photos for the proposed study; currently in progress).

A www.whitecliffsgroup.com/Images/gallery/1large.jpg"

White Cliffs Hair Studio currently manages the following eight hair replacement studios in the UK:

London Hair Replacement Studio - Mayfair, UK;

London Hair Replacement Studio - London Bridge, UK;

Manchester Hair Replacement Studio, UK;

Bristol Hair Replacement Studio, UK;

Birmingham Hair Replacement Studio, UK;

Leeds Hair Replacement Studio, UK;

Dublin Hair Replacement Studio, Ireland;

Glasgow Hair Replacement Studio, Scotland. (White Cliffs 2008)

In the United States (U.S.), White Cliffs Hair Studio currently manages the following five hair replacement studios:

Cleveland Hair ReplacementStudio, OH;

Indianapolis Hair Replacement Studio, in;

Chicago Hair Replacement Studio, IL;

Los Angeles Hair Replacement Studio, CA;

New York City Hair Replacement Studio, NY. (White Cliffs 2008)

In India, White Cliffs Hair Studio currently manages the following five hair replacement studios: Chennai Hair Replacement Studio, India; Hyderabad Hair Replacement Studio, India; Bangalore Hair Replacement Studio, India; Mumbai Hair Replacement Studio, India. In Canada, WCHS opened Toronto Hair Replacement Studio, Canada, its first hair replacement studios, on November 1, 2008. WCHS currently operates two hair replacement studios in Australia: Sydney Hair Replacement Studio, Australia, and Melbourne Hair Replacement Studio, Australia. The Sri Lanka Hair Replacement Studio, in Sri Lanka advertises White Cliffs Hair Studio, its founder, as the "Best Hair Replacement in Europe" (White Cliffs 2008).

Significance of the Proposed Study

The proposed study firstly proves significant for the research as it serves as the forerunner for the full dissertation mandated for the awarding of the researcher's future degree. Secondly, after the researcher completes the forthcoming dissertation, the knowledge obtained during the proposed study's effort will have increased the researcher's understanding of the subject of hair loss replacement for patients who experience Alopecia, as well as enhance the researcher's future capabilities in the career in the chosen field / subject.

Study Structure for the Proposed Study

The following five chapters will constitute the body of the proposed study:

Chapter I: Introduction

Chapter II: Review of the Literature

Chapter III: Methodology

Chapter IV: Analysis and Findings

Chapter I: Discussion, Conclusion, and Recommendations

Aims and Objectives

Fulfilling the primary aim for the proposed study:

Examining the business strategy of White Cliffs Hair Studio (WCHS) and its viability in succeeding within the medical industry for "Non surgical hair reconstruction devices," mandates the following the objectives be addressed:

Objective one: Examine the business strategy White Cliffs Hair Studio currently employs.

Objective two:

Thoroughly review current literature regarding the effect/s a business strategy may have upon a business and its potential to diverge.

Objective three: Identify factors that reflect the viability of WCHS to succeed within the medical industry for "Non surgical hair reconstruction devices."

In turn, as these objectives are fulfilled, along with the analysis of the retrieved researched information, the hypothesis for the proposed study will be determined: If White Cliffs Hair Studio succeeds in fulfilling its goal to diversify and expand into the medical industry for "Non surgical hair reconstruction devices," then, along with enhanced opportunities to help patients who experience Alopecia, WCHS will simultaneously obtain the ability to increase its potential to earn more profits.

During the next segment of the proposed study, the propose literature review, the researcher relates a sampling of information to be retrieved during the forthcoming study.

CHAPTER II: LITERATURE REVIEW

Strategy is about making choices some of which appear to be riskier than others"

Parnell 2003, ¶ 28)

2.1: Introduction Literature relevant to the proposed study initially included a review of approximately 50 sources, specifically exploring information for connections to three broad themes. Focus for this literature review segment will aim to support this study's research questions, fulfill objectives noted in the introduction for this study, and ultimately contribute to the determination of the hypothesis for the proposed study. The hypothesis, as noted in the previous chapter, purports: If White Cliffs Hair Studio succeeds in fulfilling its goal to diversify and expand into the medical industry for "Non surgical hair reconstruction devices," then, along with enhanced opportunities to help patients who experience Alopecia, WCHS will simultaneously obtain the ability to increase its potential to earn more profits.

To help the researcher maintain focus and..., this study adheres to a thematic organization, while exploring the following three themes:

White Cliffs Hair Studio's current business strategy,

New Business Strategy, and Contemporary Issues.

2.1: White Cliffs Hair Studio's Current Business Strategy

Both founders being hair loss sufferers, they had a dream to make a Hair Replacement and Hair Re-Growth company that was radically different: one based on people-first (not profit) and innovation. Warren and Andrew's passion gave rise to a whole new way of thinking for the industry: based on Trust, Compassion, being Customer-Dedicated, that would offer clients the style andcreativity that Mayfair London is famed for, and would provide world-leading solutions within one "Sanctuary."

That "Sanctuary" became WHITE CLIFFS- a friend, advocate, and place where real solutions that work are offered, hair loss sufferers' needs are understood, their best interests taken to heart, and where they are never just a "number." Like its namesake the WHITE CLIFFS of Dover, WHITE CLIFFS Hair Studio is about the classic British values of Trust, being Reliable, Beauty/Creativity, Fair Play, Innovation, and always being there for our clients.

Our expertise is world renowned and our clients come from all walks of life from global movie stars and celebrities to shopssistants. The common bond between all of our clients is they love beautiful hair and have a desire to have their hair back - as natural as possible, allowing them to live life normally... To get back in the game of life.

For WHITE CLIFFS, every client is an opportunity to improve someone's life and to prove that we are "The Better Way."

Hair Loss Therapy

WCHS utilizes low-level laser hair loss therapy, which according to studies, confirm the following "selling points" the company relates to respective clients, for this particular treatment, reported to be effective "for most forms of hair loss, including male and female… READ MORE

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