Term Paper on "Compiling Research Information"

Term Paper 12 pages (3685 words) Sources: 12

[EXCERPT] . . . .

Compiling Research Information

Over the last several years, the world of business has been continually evolving. This is because globalization and advancements in technology have set the stage for firms to compete against each other. The result has been a transformation in organizational strategies and the kinds of tools used to reach a host of objectives. As a result, research is shifting in those areas that are concentrating on how firms can effectively reach out to different stakeholders.

Evidence of this can be seen with observations from Hausser (2007) with him saying, "The twentieth century provided the marketer with a wealth of sophisticated primary marketing research tools and techniques. Advances in the areas of quantitative and qualitative research have made it much easier for the marketer to better understand the marketplace, the competition, and, most importantly, the customer. While focus groups still dominate the qualitative research scene, other techniques ranging from dyads and triads to ethnographies are helping the marketer better understand the customer and their wants and needs." (Hauser, 2007, pp. 38 -- 39)

This is illustrating how marketing theories and strategies have evolved with the transformation in the operating environments of firms.

Once this occurred, is when research tools and techniques began to adapt with these challenges. To fully understand how businesses are adjusting requires focusing on the way these changes are taking place in their businesses models. This will be accomplished by: providing background information about these issues, identifying the problem, discussing the purpose of the study, examining the significance of the problem, supporting various theories, conducting an analysis, providing recommendations to deal with these issues and defending your conclusion. Together, these different elements will offer specific insights as to how firms are changing and the way that are adapting to these transformations.

Background

To determine the effectiveness of different techniques requires examining various pieces of scholarly literature on the subject. This will be achieved by concentrating on numerous sources that will highlight how businesses are evolving. Once this occurs, is when specific insights are used to illustrate the way strategies are changing (in order to deal with a host of challenges in the future).

There are a number of different sources that are illustrating how the nature of business is continually evolving. In the article that was written by Johnson (2005). She is talking about how the role between government and private sector is constantly shifting through the use of satellites. This is because there are greater needs for corporations, to have access to the data that is provided (in order to offer better products and services to their customers). The long-term impact of these changes is that the relationship between: governments and private firms is adjusting. This means that many organizations will create their own infrastructure to achieve these objectives. (Johnson, 2005, pp. 42 -- 46)

Moreover, they could also outsource these kinds of functions to third party providers in addressing these needs. The information from this source is showing how the nature of business is continually changing based upon innovations in technology. As a result, the way that firms are interacting with government entities is transforming access to areas that were previously controlled by these organizations. This is illustrating how the shifts in technology are changing the relationship firms have with different stakeholders. (Johnson, 2005, pp. 42 -- 46)

When it comes to dealing with governmental entities, there is a unique relationship that exists between private firms. According to Mushoff (2011), this is because the government can impose various regulations that will have an impact on economic activity. The problem that a number of businesses will face is: understanding the risks posed from select activities. To address these issues, there is an emphasis on using predetermined models that will help executive to evaluate possible threats. During this process, is when there is a concentration on a number of factors to include: investment, financial and productivity decisions. (Mushoff, 2011, pp. 468 -- 478)

Those who are utilizing this approach have been able to analyze the potential risks and create strategies for addressing these challenges. As a result, the information from this source is showing how firms must be able to account for the practices of government. If this approach is used, it will help organizations to effectively deal with these kinds of challenges. This is when there is a transformation in the operating environment of the firm by applying these tools as part of the business model. (Mushoff, 2011, pp. 468 -- 478)

In the field of marketing, these shifts are occurring more rapidly. According to Sheth (2006), business to business practices are continually shifting. This creating gaps in the available amounts of research about the best practices for the firm. The notable include a lack of information in addressing areas such as: branding, organizational satisfaction and marketing theories. At the same time, there is surplus of data in select areas to include: demographics, new product development and sales techniques. The differences in the research are highlighting how the marketing strategies are changing to reflect the shifts in the business models of firms. The challenge is being able to locate sources that can provide timely information about: how to deal with a host of disparities in these areas. (Sheth, 2006, pp. 422 -- 427)

Moreover, Barnes (2010) found that there is a gap in empirical research. The reason why this is occurring is because most articles and studies are conducted by U.S. based authors. This makes it difficult for firms to understand how they can use specific techniques to reach out to a larger demographic of customers in developing regions. However, there has been an increase in the kinds of studies that are conducted with more of an international focus. This is highlighting how there has been a shift in empirical research surrounding marketing strategies. (Barnes, 2010, pp. 491 -- 518)

However, the problem is that many of these changes are not occurring fast enough. This is making it difficult for everyone to learn about: new ideas and to quickly adjust to a host of challenges. For internationally-based firms, this makes it tougher to use tools that will target specific segments of the population in these regions. As a result, this information is illustrating how select ideas are obtained from different research studies (which are showing the way executives should be approaching stakeholders). This is more challenging, as actuaries are forced to dig through a mountain of research to identify key international marketing techniques. (Barnes, 2010, pp. 491 -- 518)

To help firms deal with these kinds of issues, many organizations have been utilizing the Sigma Six Model. This is when there a focus on reducing mistakes and streamlining the manufacturing process. The basic idea is that the emphasis on improving manufacturing will yield significant long-term benefits to firms. As they can use this to: address needs of customers and create positive images for their products or services. According to Stroud (2007), a single unified model can address the marketing issues of firms by: concentrating on key aspects that are important to customers around the globe. The reason why is because, there is focus on receiving continuous feedback and adjusting the organization with these changes. This gives firms the ability to understand the needs of stakeholders and quickly address them (which reduces confusion and misunderstandings). (Stroud, 2007, pp. 561 -- 571)

Evidence of this can be seen with Stroud observing," Many underestimate the role that continuous feedback can play throughout the strategic managerial decision-making process. Continuous feedback enables the decision maker to continuously 'take the pulse' of what is going on in the organization's dynamic internal and external environments to determine the immediate effect(s) of a decision, and to make adjustments in the decision variables as necessary to achieve the desired outcome(s). The use of this process throughout the strategic managerial decision-making process can aid individuals in making timely and appropriate decisions given the organization's situational constraints. Additionally, appropriate and timely data interpretation, and the institutionalization and identification of metrics that focus on business results and accountability are the keys to enhancing the strategic managerial decision-making capability of individuals." This is illustrating how the Sigma Six model can address the marketing needs of firms by understanding everyone's viewpoints about a host of issues. This is when they can make adjustments to their strategy and effectively reach out to a variety of stakeholders. As a result, this information is showing the specific tactics that are used by executives to deal with different challenges. (Stroud, 2007, pp. 561 -- 571)

Furthermore, the article that was written by Hanna (2009), is talking about how there are often overlapping terms and ideas that are used interchangeably in the workplace. Those firms that have greater flexibility when using these concepts can integrate them with their existing operations. This helps to improve their marketing efforts and ability to address the needs of different stakeholders. The information from this source is useful, in illustrating how the best organizations will use specific ideas… READ MORE

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