Research ........................................................................................................................................................ 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 YES to 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
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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Research
It is a process of finding solutions to a problem after a thorough study and analysis to the situational factors
Business Research
Business 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, consumer feedback, 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 of unnecessary 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 of another 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.
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Management
Study of employee attitude and behavior, HRM, POM, strategy formulation.
Finance
Financial Ratios, mergers and acquisitions, mortgages, operations of financial institutions
Marketing
Product image, Advertising, Sales promotion, packaging, pricing, after sale service, new product development etc.
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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 Research
Research 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 in organizational 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 associated with 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.
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Other organizations that have used their services can also be contacted to ascertain the merits and effectiveness of the individuals and the reputation of the firm.
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 and the employees in the organization, enabling the full co-operation of the later.
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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.
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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.
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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. The ultimate 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.
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For 2011 it is estimated that Telenor Pakistan contributed over Rs. 23 billion in various forms of direct and indirect taxes to the economy of Pakistan.
usiness
Research in Telenor:
Telenor Research and Innovation (Telenor R&I, prior to September 1, 2006 known as
Telenor R&D) is Norway's largest research establishment within Information and Communications Technology (ICT), with more than 200 full-time researchers. Telenor R&I have research facilities in Fornebu, Kuala Lumpur, Trondheim and Troms. In 2009 Telenor R&I was merged with Global Coordination team, and is now part of the executive entity Telenor Business Development - headed by EVP Morten Karlsen Srby. Telenor also owns 51, 8% of EDB Business Partner that offers a wide range of IT-services. The company is listed on Oslo Stock Exchange.
Research
Telenors research portfolio is closely linked to our strategic challenges. Main areas for Telenor research are: Customer insight, including innovations in customer facing processes and customer data analytics Business models, including competition strategy and regulations, and Internet value networks New services, such as service diffusion and the Internet of things Future technologies, such as future network concepts and next generation IS/IT architecture
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SWOT ANALYSIS:
STRENGHT:
Research covering all over Pakistan cities Micro and Macro Based researchs Superior Customer Care Financial Strength Excellent Coverage & Distribution Contract with Siemens & Nokia Brand Image of Quality Superior Product quality for customers Better Customer relationship than competitors Extra Features and services Committed And Efficient Staff Products innovations ongoing Good reputation among customers Good packages according to the target market
WEAKNESS:
Delay in timely present Research Reports. Less time in market as compared to other cellular companies, like mobilink. Less coverage as compared to the competitors like mobilink
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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 the needs 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 Books a. Cooper, D. R., & Schindler, P. S. (2010). Business Research Methods (11th Ed)
2.