Significant Changes of Toyota

Significant Changes of Toyota Our choice to pick Toyota was due to the significant changes it has gone through over the years. When Toyota first came into the market; nobody was willing to buy this Japanese car that they knew nothing about. But as time has gone by they have proved themselves to be one of the most reliable cars that can be found in todays market. A radio producer in Kenya once said every car in front of you and behind you is a Toyota (Juma, 2002) and indeed it is true. Toyotas decision to make this hybrid car was driven by both internal and external forces. It has been noted that the hybrid Camry will be the first commercially available hybrid vehicle built in Australia. The decision was announced in June 2008 to begin manufacturing a hybrid version of the Camry Sedan at the Altona plan in Melbourne from the beginning of 2010 (www.toyota.com.au). Looking at the internal forces first Toyota is committed to developing hybrid systems as a core technology. Globally, the goal is to reach one million hybrid sales per year during the 2010s. Toyotas worldwide goal is to approach zero impact on the environment in all our activities, including vehicles and production. While we may never be able to achieve zero impact, we always strive to do better and hybrid technology is an important part of that effort (www.toyota.com.au). There is constant need to improve their cars-not that they need that much improvement but in the sense of safety and efficiency for it s customers. External forces are the need to stay on top of the competitive market. All automobile companies are constantly making a new car or adding features to a new car. For Toyota to maintain its name and customers and attract new customers the hybrid was the best way to go about this. 2. DRIVING FORCES The forces which has no or minimal control by the Toyota Production System (TPS) are termed as External factors. These can be further classified into three categories. 1.Technological developments 2.Competitive environment 3.Social and Political pressure 2.2 Economic With the current global financial crisis hitting virtually the entire world, and as mentioned above the fluctuating fuel prices, there is bound to be a change in the consumer spending and price of most commodities will definitely be affected. It is in this aspect therefore those organizations will have to change so has adapted to the dynamism of the ever rapid globe and become relevant to the consumer in both product and services that they do offer in the market. 2.3 Social The current social trend is go-green which basically means being environmental cautious more of the eco-solution lean towards the conservation the earth- less pollution. The trend particularly in the automobile world is the one moving from fuel guzzlers cars to eco-friendly cars more of hybrid cars which the Toyota organization has done well to rebrand themselves as the automobile industry of the future. 2.4 Technological Environmental factors have driven TPS (Toyota Production System) to excel in their Technological developments. As a result TPS introduced hybrid vehicles, which are more fuel efficient and eco friendly. This external factor has transformed TPS from an ordinary passenger car manufacturing company to a Technology innovative company. With the new innovation particularly in the fuel conservation, Toyota Australia leads in the domestic market through its variable value timing intelligent technology (www.toyota.com.au , 2009). The VVTI technology makes it stand out from the other car manufactures. The organization is also distinctive in its development management styles such as the just-in-time and Toyota production system (www.toyota.com.au , 2009) which are incorporated by the Toyota Australia. 2.5 Competition Competitors in the automobile industry have been a key player for TPS development. In order to sustain in the market TPS reengineered some technological advancements and gadgets from their competitors such as Cruise control, Auto gearing in their products. (Driel, Dolfsma, 2009) Competitors in the automobile industry have been a key player for TPS development. The automobile industry has the most furious competition in the world, with the greatest Toyota competitors being, Honda which is from Japan. Toyota however stands alone due to its capability to change its technology and conform to its changed environment, particularly the fuel efficiency aspect 3. CHANGE PROCESS MODELS Following the strong desire that both the Federal and Victorian governments had for new environmental friendly technologies; Toyota decide to come up with an eco-friendly car, the hybrid. In addition to that; the growing demand for our Prius hybrid also confirmed that there is a need for more hybrid models in our line up (www.toyota.com.au). As purported by the equilibrium theory of change (Abernathy Utterback, 1978; Imai, 1986; Tushman Romanelli, 1985) comes the crucial fundamental understanding that change occurs in a series of radical and incremental changes (Abernathy Utterback, 1978; Imai, 1986; Tushman Romanelli, 1985). With emphasizes from (Kofoed, et al.2002) stating in other words that the above theory claims that an organisation-just like an organism- is pressured by periodic environmental events to change dramatically or else perish. So strong is this notion that it is further illustrated without any reasonable doubt by the Toyota organisation worldwide and to be specific Toyota Australia too. The Toyota Australia has conceptualized the essence of the equilibrium theory of change (Abernathy Utterback, 1978; Imai, 1986; Tushman Romanelli, 1985) more so by embarking on radical changes that are all geared towards the improvement of structural process and systems within the organisation. The Toyota Australia uses both the continuous improvement process and re-engineering process. 3.1 Continuous improvement process The essences of Toyota Australia continuous improvement process is its quality management programmes and to be emphatic Toyota production system (www.toyota.com.au). The organisation through the Toyota production system (www.toyota.com.au) are enabled to provide its customs with the highest quality cars and at the same time services. At the heart of this system is the Kaizen (www.toyota.com.au) which is the absolute elimination of waste and helps workers to be more efficient (www.toyota.com.au). 3.2 Re-engineering process As mentioned before, Toyota Australia makes use of this process because it has identified its distinctive competences that differentiate itself from other auto-motive industries are the fuel efficient cars that they produce. The organisation emphasises is on high-quality performing fuel efficient engine cars, at lowest possible cost, in a timely manner with the shortest possible lead times and its Just-in-time management schemes, (www.toyota.com.au). The car prices are relatively cheaper in comparison to other brand of cars from different industries. The core process without any doubt is the ability to come with a hybrid car of the future, since customers are keener about other alternatives of fuel consumption. The ability of such innovation adds value to customers thus the perception that, Toyota Australia is a series of processes from strategic planning to after-sales, (Robbins Judge, 2007). 3.3 Lewins three step model Lewins three step model of unfreezing, movement and refreezing can be noted in the change cycle used by Toyota. Unfreezing is the process of overcoming pressures of both individual resistance and group conformity (Robbins, 2007, p651). This is the status quo that all automobile companies share. Then comes the movement stage that transforms the organisation from the status quo. Toyotas movement stage was to develop the hybrid that has both petrol engine and an electric motor which recharges itself as the car is driven. The refreezing stage involves stabilizing the change model. This is quite evident in Toyota as seen in the success of the Prius. Sorensen adds on by telling us that companies with strong cultures excel at incremental change (2002). The Prius has been recognised globally as a clean vehicle achieving many awards and certification to the toughest environmental standards in the world. Many other engine technologies are yet to achieve emissions low enough to satisfy these emerging low emission standards (www.toyota.com.au). This is bound to bring about a competitive advantage over its rivals. Imitation of this may be quite costly and take Developing such a change has involved a lot of processes, knowledge and most importantly costs. Toyota is still very committed to its customers and maintains that trust by developing this new car that not more efficient but also environmental friendly for our future. To show its loyalty customers are guaranteed to an after sales service for three years or up to 600,000kms. As we have been told by Toyota; We are committed to sound environmental management for a sustainable future which in turn improves our business performance. Toyota Australias environmental performance, initiatives and technologies are further explained throughout this site (www.toyota.com.au). 3.4 Organisational development model Toyota Australia is an organisation whereby people are given respect and this aspect of the organisation is enshrined as part of its core value thus making it different, more of a standalone auto-motive industry. The other aspects of this change model that are used by Toyota Australia are trust and openness. These two characteristics are nurtured through having authenticity, openness and a supportive climate (Robbins Judge, 2007) in the organisation. Team building is also another characteristic that is embedded in the Toyota Australia organisation and in the processes helps in managing change. Last but not the least is the characteristic of confronting problems with again Toyota organisation having a notion of not ignoring or shrugging of problems. On the contrary these problems are dealt with amicably with innovation for a better organisation presently and in the future always in mind. 4. CONCLUSION If an organisation needs to survive, it must respond to changes in its environment. When competitors introduce new products or services, government agencies enact new laws, important sources of supply go out of business, or similar environmental changes take place, the organisation needs to adapt (Robbins, 2007). Toyota has realized that early enough and brought out a car that will be very helpful in the future as it is now. This success and competitive edge has kept Toyota in the worlds top ranking. REFRENCES Abernathy, W.J, Utterback, J.M (1978), Patterns of industrial innovation, Technology Review, Vol.80, pp 40-7. Busk Kofoed, L (2000), Experimentarium as arena for common learning during change processes, Processes in Human Factors and Ergonomics in Manufacturing, Driel V Hugo, Dolfsma Wilfred (2009), Path dependence, initial conditions, and routines in organizations, The Toyota production system re-examined, Journal or Organizational change Management, Vol. 22 No.1, 2009, pp. 49-72. Imai, M, (1986), Kaizen, McGraw-Hill, New York, NY. Robbins, S. P and Judge, T. A, (2007), Organisational Behaviour, 12th Edition, Prentice Hall, upper Saddle River, NJ. Sorensen, J. B, (2002), The strength of Corporate Culture and the Reliability of Firm Performance, Administrative Science Quarterly, pp 70-91. Tushman, M.L, Romanelli, E (1985), Organisational evolution: a metamorphosis model of convergence and reorientation, Research in Organisation Behavior, pp 171-222 Anonymous (2000), CI Changes: From Suggestion Box to Organisational Learning Continuous Improvement in Europe and Australia, Toyota: www.toyota.com.au (Accessed on 19/08/2009) CIA factbook: https://www.cia.gov/library/publications/the-world-factbook/geos/af.html (Accessed on 24/08/2009) Juma, Emmanuel, Radio Kiss fm, Nairobi 6th June, 2002. 10.30am.

Marketing Research Krispy Kreme

GROUP MEMBER [pic] †¢ Usarat Rungruangrattanawadee1531007027 †¢ Chavivuth Soonthornsima 1511001933 †¢ Tirapitch Pichitnorakarn 1511007096 †¢ Arnuphap Chaiyaraj 1531007209 †¢ Pavinee Pinijkijsopon1531007530 Exclusive Summary As you know Thailand has many brand of donut and last year have new brand come to Thailand it is Krispy Kreme Doughnut. First time that they promote everyone interesting and exciting about that. Now it not interesting like beginning period. So, our group would like to study about customer preference and want to know about customer satisfaction with price, place, taste and location of Krispy Kreme Doughnut.We try to know all customer think with Krispy Kreme Doughnut and also our competitor. We use many methods to do the research. For this research we get some limitation from whether, time, confusing with questionnaire, and etc. As we research we get good information back for analyze the data and code data for do graph. Introduction Backgrou nd 1937s A Humble Beginning †¢ Krispy Kreme Began More Than 70 Years Ago In Winston-Salem, NC †¢ Our Founder, Vemon Rudolph, Bought a Yeast-Raised Doughnut Recipe From a Chef in New Orleans. †¢ Today, All Krispy Kreme Stores Use the Same Proprietary Recipe That Was Used 70 Years Ago! 940s & 1950s A History of Innovation 40s&50s †¢ Improving the doughnut Making process through Innovation from the Beginning †¢ Krispy Kreme Was the First to Automate the Doughnut Making Process Soon After We Opened. †¢ These Innovation Remain the Foundation of Our Doughnut-Making Process Today 1960s & 1970s The Store Experience 60s & 70s (Our Stores are Fun Gathering place for Friends) †¢ The Store Expereince is the Brand for Our Customers. †¢ For Year, Krispy Kreme Stores Have Been Fun Places for Friends and Families to Gather Our â€Å"Doughnut Theatre† and You Team’s Great Customer Service are Critical Components. 1980s & 1990s Hot Original Glazed 80s & 90s (The famous hot doughnut experience) †¢ Krispy Kreme Signature Product Original is Our Original Glazed †¢ Our World Famous â€Å"Hot Now† Sign Signals To consumers that making Fresh Product †¢ Customer Young and Old Love Watching the Doughnuts Being Made Today Growing the Brand Worldwide (Sharing the Krispy Kreme experience) †¢ Today, Krispy Kreme has Stores in the United States, Europe, Latin America, the Middle East and Asia. †¢ We have More Than 500 Stores in 18 Countries More than 60% of Krispy Kreme’s Stores are Now Outside the US †¢ This Year, Krispy Kreme Hopes to Open Our First Stores in Dominican Republic, Thailand and Taiwan! Krispy Kreme in Thailand †¢ Krispy Kreme open in Thailand at Siam Paragon since 28 Sep, 2010 Situation Analysis First Krispy Kreme launchs in Bangkok at Siam Paragon. It has a Krispy Kreme trend because they have promotion for 100 prople get free Krispy Kreme but the first person of 100 peopl e will get Krispy Kreme free all year. People very interest and excited about Krispy Kreme. Before it lunch in Bangkok, it reputation in aboard.For first 4-5 months, it has very long queues out of Siam Paragon. Someone who waiting in queues for re-sell all opposite side at Siam Paragon, they will up price about 10-20 baht per piece or someone get 50-100 baht per box for waiting in queues instead of the person who want it. Now Krispy Kreme is quiet, no body waiting for buy Krispy Kreme, you can walk to the shop and buy it without waiting in long queues. Now it has variety for favors, first it launches only original favor. Research Objective †¢ To study Krispy Kreme Customer Preference. †¢ To know customer satisfaction with price. To know customer satisfaction with place such as atmosphere, decoration and convenience. †¢ To know customer satisfaction with taste such as soft and sweet. †¢ To know customer satisfaction with reputation. †¢ To know some improvemen t that we think customer will accept or it will effect with customer or not. †¢ The last objective that we want to know is about competitor. Define problem and opportunity identification Problem is Thai people interest with Krispy Kreme lower than the beginning period, so male Krispy Kreme no more long queues although Krispy Kreme launch more favors, but not attraction customer like beginning period.Now Krispy Kreme has not yet opens a new branch although I think Krispy Kreme must to open new branch. Limitation of the study Our main target is student, so we divide into two groups for research. The first group is BU Student at City Campus and Second group is Student around Siam Paragon and BTS (Siam station). First limitation that we met we can’t do the research inside Siam Paragon, so we must to go outside it and stand at BTS. We go to research about 5 pm; this time is the times for student go for tutor.We have some problem about student don’t have more time for d o our questionnaire. And we stay at BTS, we will met student who also hurry to back home. Until we meet one group in front of Siam Paragon, we go for research them but security guard is not allowing to research front of Siam Paragon. Second limitation that we met is some people they don’t understand some question and some people who say no with the question that we ask about last one month you ever consume Krispy Kreme or not, so it make that questionnaire fail. I must to do more questionnaires because we need 30 questionnaires.The last limitation that we met is weather, first of all we will stay at Siam Square, the place that reseller sell Krispy Kreme Donught but that they is raining day, so it make our can’t stay there. It hard to do questionnaire in raining day. Finally we decide to divide in to two groups first stay around BTS. We stand different door. Finally, The problem that we meet is from confusing with question, place and weather that we survey is not conven ience for do the research but finally we get questionnaire enough to do the research although it has correct one and wrong one.Method Definition of the population Is the amount of people or has the same characteristic in the similar way or the same way which include all sex and every age. Person are likely the same things and from one to others, they all in a group and as a group we called â€Å"population†. For example our group project we doing a research about donut which is the most popular and famous in Thailand now called â€Å"Crispy Cream† located in paragon shopping mall.As we research we want to know the amount of population which has the same things in the same ways such as like to eat donut or like to do the same activities, we don’t target only people who are under 30 but we do target all sex, age and people who are in Bangkok too. Therefore population are large group of people not even in the country can be all over the world who like to do or eat in the same or similar things. And if we want to target something we can target in a whole group of people which means population of something we want to target such as we want to know population of people who loves to eat donut especially â€Å"Crispy Cream†.Every research must have their population of their project which can tell u to analyze that people who you are targeting is like or dislike your product or services. These can tell u little more about people or customers are interest in your product or not. For example if high population it might means they like your product or service but if low population so which means that they might not be interest or not in the trends of nowadays. Sample plan and sample size Our sample plan is that we have conducted the sample of 30 respondents between the age of 16-25 both high school and university students who are consuming KrispyKreame donuts.To understand how these age group of people buying decision on the KrispyKreame produc ts on their preference on taste, price, reputation, quality of the products. The population of ours target is the people in Bangkok who consuming the donuts whether consume themselves or buy for other people as a gift. However, the total surveys that we have conducted was 50 questionnaires but only 30 of them which can be useful for conclude the final sample which gives us 60% of the total sample size that we have been given out for the surveys.Ours sample method was we have used an exploratory method but in questionnaire type and we let them to fill out the form by themselves and as we have a cluster sampling type of method which mean we have selected the group of ours sample size for this particular surveys. Furthermore, the sampling method for ours survey was probability sample type as we have select the sample which in equal chance to be select to fill out the questionnaire. We have resampling the sample to conclude the result by looking at the sample that we have gathered to ju dge the total population of people who like to consume donuts in Bangkok area.Development of the questionnaire We started developed our questionnaire to answer the objectives. The questionnaire was created by all members in group. First time we draft developed it in class room to know just like which direction we will ask. We also make sure by consult with the instructor about the content in questionnaire. After that we had meeting again to do questionnaire in details. Each member helps together to developed questionnaire and tries to show the ideas and the benefit of that question to fit with the objective.We had use of computer and networks to help in developed the questionnaire by type and design the questionnaire. We also sent the questionnaire through the E-mail to each member in our group to help together to recheck the questionnaire in term of the word understanding and design again before launch it to the public in testing the questionnaire within BU city campus. After that we fix the questionnaire again before use it in real surveys. We chose Closed- ended type to be our question response format. We use both Dichotomous which provide two response options and Multiple response which provide more than two response options.We design to use closed –ended question because it provide options on the questionnaire which help respondent to answer quickly and easily. The more benefit is this type of question is also easier to analyze the data which proper for short period of time that we have. Moreover we also use Scaled- response format to measure the attributes of the Krispy Kreme doughnuts. We design in Unlabled scale which is purely numerical that allow respondent to express feeling and it also easily to code the data. There are more details in each questions following; †¢ The first part of questionnaire is Screening questions.It helps us to identify which questionnaire can be the sample or the representative of the research. The screening quest ions start from question number one to three. ? The question one is â€Å"Have you been purchased Krispy Kreme doughnuts during the last one month? † This question will be separate respondent who is the representative apart from who is not by the answer. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question two is â€Å"How often do you consume Krispy Kreme doughnuts a month? † The purpose is to know the frequency of consuming Krispy Kreme doughnuts.The Scale of measurement is Interval scales because distance between each descriptor is equal. ? The question three is â€Å"Where did you buy Krispy Kreme doughnuts? † The purpose is to know is the respondent buy doughnuts from the Krispy Kreme directly or buy from the reseller. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. †¢ The second part of questionnaire is General question. It will be the question about the purpos e of buying Krispy Kreme Doughnuts and why. The general questions start from question number four to eight. The question four is â€Å"How did you know Krispy Kreme doughnuts? † The purpose is to know which way they know Krispy Kreame doughnuts. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question five is â€Å"Purpose of buying Krispy Kreme doughnuts? † The purpose is to know the objective of buying Krispy Kreme doughnuts. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question six is â€Å"if you see long queue, do you want to wait in queue or not? † The purpose is to know the tendency of who will wait in queue if there is line.The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question seven is â€Å"Why you want to waiting queue? † The purpose is to know the reason why they still want to wait in queue. The Scal e of measurement is Nominal scales because it uses only labels in questionnaire. ? The question eight is â€Å"Why did you buy Krispy Kreme doughnuts? † The purpose is to know reason why they buy. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. †¢ The third part of questionnaire is Preference. This will give depth data in term of Krispy Kreme attributes. There will be sub-questions for question nine which give data in scale about price, taste (soft and sweet), quality, reputation and location (atmosphere, decoration and convenience). The purpose is to know customer preference in each attributes. The Scale of measurement is Interval scales because distance between each descriptor is equal. †¢ The fourth part of question is Compettition. This will help to generate data about the rivals of Krispy Kreme doughnuts. The questions start from question number ten to thirteen. ? The question number ten is â€Å"Do you purchase others donuts brand while purchase Krispy Kreme doughnuts? The purpose is to know that do the representative still buy other doughnuts brand while buy Krispy Kreme doughnuts. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question eleven is â€Å"Which doughnuts brand that you purchase apart from Krispy Kreme doughnuts? † The purpose is to know who the Krispy Kreme doughnuts rivals are. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question twelve is â€Å"From question no 11: why do you purchase those doughnut brands? † The purpose is to know reason why the representatives still buy those brands.This may help to identify which attribute is Krispy Kreme do not well. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question thirteen is â€Å"Please rank which donut brands do you prefer the most? † The purpose is to know which bra nd do the representative prefer (order in rank). The Scale of measurement is Ordinal scales because provide rank-order to respondent. †¢ The fifth part of question is Improvement. These will help to know what could be improving for Krispy Kreme. The questions start from number fourteen to fifteen. ? The question fourteen is â€Å".If Krispy Kreme Doughnuts has a membership card, would it make you buy Krispy Kreme Doughnuts more than before or not? The purpose is to understand the potential of customer preference in membership card that may affect frequency of buying. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question fifteen is â€Å"If Krispy Kreme Doughnuts launch new branch, where would you like it be located? † The purpose is to know where representative want Krispy Kreme to open new branch. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. The sixth part of question is Perso nal data. This part will be detail about the representative which shows gender, ages, occupation and income per month. The purpose is to know details about the representative. The questions start from number sixteen to nineteen. ? The question sixteen is â€Å"Gender†. The Scale of measurement is Nominal scales because it uses only labels in questionnaire. ? The question seventeen is â€Å"age† The Scale of measurement is Interval scales because distance between each descriptor is equal. ? The question eighteen is â€Å"Occupation† The Scale of measurement is Nominal scales because it uses only labels in questionnaire. The question nineteen is â€Å"Income per month† The Scale of measurement is Interval scales because distance between each descriptor is equal. Questionnaire No. ___________ Interviewer’s name ___________ Bangkok University International College Questionnaire for Marketing Research Hello, I am student at Bangkok University Internatio nal College. I would like to conduct survey about Krispy Kreme Doughnuts. I would like to ask you few questions about your experience with Krispy Kreme Doughnuts. It will take only few minute and this questionnaire is part of term project of Marketing Research and it will be confidentially.Thank you for your spending time to response to the questionnaire. / / / Please answer the following question by mark (in ( given below: ( ( Screening Questions ( ) 1. Have you been purchased Krispy Kreme Doughnuts during the last one month? (1 ) Yes ( ) No ( ) 2. How often do you consume Krispy Kreme Doughnuts a month? ( ) Once (1 )2-4 times (2-4 ) 5-7 times (5-7 )More than 7 ( 7 ) 3. Where did you buy Krispy Kreme Doughnuts? ( ) Krispy Kreme Doughnuts shop at Siam Paragon ( ) By reseller ( ) General Questions ( ) 4. How did you know Krispy Kreme Doughnuts? ( Friend( )Experience ( ) Media and Advertising ( )Other Please specify (_____) 5. Purpose of buying Krispy Kr eme Doughnuts ( ) Consume ( )Resell ( ) Gift ( )Other Please specify (_____) 6. If you see long queue, do you want to wait in queue or not? ( ) Yes ( ) No (Skip question no. 7) ( 7) 7. Why you want to waiting queue? ( ) Trend( )Fashion ( )Want to try/eat ( / )Other Please specify (_____) 8. Why did you buy Krispy Kreme Doughnuts? ( ) Price ( ) Reputation ( ) Taste ( )Location ( ) Quality ( )Other Please specify (____) Preference ( ) 9. How did you rate Krispy Kreme Doughnuts in term oftheir price, taste, quality, reputation and location? ( , , , ) | |Low( | | | | |High( ) | | |1 |2 |3 |4 |5 |6 | |9. 1 Price ( ) |   |   |   |   |   |   | |9. 2 Taste ( ) |   |   |   |   |   |   | | 9. 2. 1 Soft ( |   |   |   |   |   |   | | 9. 2. 2 Sweet ( ) |   |   |   |   |   |   | |9. 3 Quality ( ) |   |   |   |   |   |   | |9. 4 Reputation ( ) |   |   |   |   |   |   | |9. Location ( ) |   |   |   |   |   |   | | 9. 5. 1 Atmosphere |   | |   |   |   |   | |( ) | | | | | | | | 9. 5. 2 Decoration |   |   |   |   |   |   | |( | | | | | | | | 9. 5. 3 Convenience |   |   |   |   |   |   | |( ) | | | | | | | Competition ( ) 10. Do you purchase others donut brand while purchase Krispy Kreme Doughnuts? ( Yes ( ) No ( ) 11. Which donut brand that you purchase apart from Krispy Kreme Doughnuts? (Answer more than one) ( 1 ) Bapple Donut Daddy Dough Dunkin’DonutsMister Donut Other (Please specify___________) 12. Form question no. 11; why do you purchase those Donut brand? ( 11 ) Price ( )Taste ( ) Quality ( )Location ( ) Other (Please specify___________) 13.Please rank which Donut brands do you prefer the most ( ) (1-5 1 5 ; 1= most , 5 = lease ) ____________ Bapple Donut ( ) ____________ Daddy Dough ( ) ____________ Dunkin’Donuts ( ) ____________ Krispy Kreme Doughnuts ( ) ____________ Mister Donut ( ) Improvement ( ) 14. If Krispy Kreme Doughnuts has a membership card, would it make you buy Krispy Kreme Doughnuts more than before or not? ( Yes ( ) No ( ) 15. If Krispy Kreme Doughnuts launch new branch, where would you like it be located? ( ) Central Plaza ( )The Emporium ( ) The mall ( )Robinson ( ) Super market (Tesco Lotus, Big C, Careful, and etc) ( , , ) Other (Please specify___________) Personal Data ( ) 16. Gender ( ) Male ( )Female ( ) 17. Age ( ) Less than 20 ( 20)21-25 30. 1-35 More than 35( 35) 18. Occupation ( ) Student ( / )Office Worker ( ) Business Owner ( )Other Please specify___________ ( ) 19. Income per month ( ) Less than 10,000 ( 10,000)10,001-15,000 15,001-20,000More than 20,0000 ( 20,000) ___________________________ Thank You ________________________ / Data collection method We design to use Exploratory research method to gain background information about the research topic. Exploratory also can help in define term and clarify problem.We use Secondary information to know and understand history or background of the company. It will provide how, when it establish and by whom. Normally, Exploratory research will be unstructured but for Krispy Kreme research we will use quantitative research to help in collection the data. The survey will use questionnaire which is structured question for respondent. The reason is that it can use with a large number of respondents and also easily for code and analysis. In collection mode, we use Self-administered which respondent have to completes the survey by his or her own.It is the most popular way in collection mode; some time people called it paper and pencil survey. The reason for using Self- administered is cost reduction and respondent can control the answer so, it will be affect to time saving. The location that we went to do survey is Siam Square and BU city campus. The reason is that our sample will be students who are in high school and university student. As the lifestyle of this group of people is li ke to hang out at Siam square so, Siam square is the place that majority of that student group like to go.If we went to Siam square we will get data from many type of student in that group. We divide members group to do survey in three small groups. To be faster to collection the data and avoid shy to do questionnaire with big group of researcher. In depth detail of the location, we did survey at BTS Siam, BU city campus. By the BTS Siam, we divide into two group because there is big area that can do survey. Nonsampling error reduction There are many types of errors that might occur during the questionnaire survey some might be avoidable but some might not due to the respondent’s behavior of the survey.However, the error also occurs with the field workers who hand the survey to the entire respondent to fill, they might not be effective to give the respondent an explanation of the question since they did not understand and explain the question to the respondent well. Furthermo re, interviewer might perform their job by unsatisfied reaction to the respondent if they ask too many questions on the survey and might show it to the respondent by tone, body language or characteristic of the interviewer.Some might not give the respondent full explanation of the objective of the survey. This will lead to respondent error, since they did not understand how to answer so they did not answer it correctly or answer it guessing since they unsure on the question or whether they intent to committed an error on purpose since they did not attend to focus on the survey as they might be in the hurry or on the way to work or see friends or get tired from work so they did not willing to answer it properly.Some might get a distraction on the location of the surveys by interruption or crowed places to be able to fill the questionnaire. However, we can reduce such error by supervision on the field workers or training them on the understanding of the survey before let them out on t he field. And for the respondent, we might check the answer before letting them go or go thought the question with them on by one so they can give the best possible answer.Not only an on field surveys that encounter a problem but other kinds of survey such as an online, mail, calling surveys also have the same problems. For an online survey, the respondent might have done more than one survey or might not answer the certain question that they did not want the interviewer to know such salary or occupation etc. Moreover, some even avoid to do it since they can just close the page on the web to avoid answer it. For mailing surveys might have a high set up cost to send to each household and might not get the mail back as they might consider a junk mail.Telephone survey, the interviewer have to follow up the respondent as some people might not be home or lazy to answer it on the phone since the might be in the middle of something such as cooking their meal, watching their favorite progra m. So to avoid such an error the interviewer might have to screening the questionnaire first before it complete, inspect the grammar error that might have confuse the reader and also the answer might have to be clear ,for example, scale question from 1 to 5 the respondent might answer only 5 or in the middle like 3.So these kind of screening might have been consider and need to be eliminate before conducting the questionnaire. Or providing a sample questionnaire to see whether the problems are might have occurred during the pretest. In addition, close supervise data collection and provide training to give the interviewer the best effort are also needed to minimize the error. Data analysis 1. For the question, â€Å"Have you been purchased Krispy Kreme Doughnuts during the last one month? † We analyze data by using Mode which is the value that occurs most frequently.The graph is response rate result from the survey is show that the 60% or 30 people of 50 answer Yes (Mode), whi le 40% or 20 people of 50 answer NO. (See graph at p. 31) 2. For the question, How often do you consume Krispy Kreme Doughnuts a month? We analyse by using Mean which result is 1. 2667(fx = 38 / N= 30) The graph result from the survey is show that the majority of the sample said they eat Krispy Kreme once a month which is 26 people out of 30 people as a percentage of 86. 67 percent. Next, the second high is 4 people out of 30 as a percentage of 13. 3 percent eat Krispy Kreme 2-4 times a month. Nobody said eat 5-7 times and more than 7 times a month. (See graph at p. 31) 3. This graph shows about where did you buy Krispy Kreme Dougnuts? We analyze data by using Mode which is the value that occurs most frequently. We research about 30 people. The majority of the respondent prefer to buy by Krispy Kreme Dougnuts shop (Mode) at Siam Paragon about 28 people out of 30 as a percentage of 93. 33 percent and people who choose buy by reseller are about 2 people out of 30 as a percentage of 6. 67 percent.Finally, the people who consume Krispy Kreme Dougnuts they like to buy by shop at Siam Paragon more than they buy by reseller. (See graph at p. 32 ) 4. For the question, How did you know Krispy Kreme Doughnuts? We analyze data by using Mode which is the value that occurs most frequently. The graph result from the survey is show that majority of sample said they know Krispy Kreme from Media and Advertising (Mode) which count as 14 people out of 30 as a percentage of 46. 67 percent. The second high is people know Krispy Kreme from Friend which is 13 people out of 30 as a percentage of 43. 3 percent. The third high is people know Krispy Kreme from Experience which is 3 people out of 30. (See graph at p. 32) 5. For the question, Purpose of buying Krispy Kreme Doughnuts. We analyze data by using Mode which is the value that occurs most frequently. The graph result from the survey is show that the majority of sample said they buy Krispy Kreme for Consume (Mode) which is 26 peo ple out of 30 as a percentage of 86. 67percent. The second high is they buy Krispy Kreme to be Gift which is 4 people out of 30 as a percentage of 13. 33 percent.And nobody answer resell in the research. (See graph at p. 33) 6. For the question, If you see long queue, do you want to wait in queue or not? We analyze data by using Mode which is the value that occurs most frequently. The graph result from the survey is show that the majority of sample said No (Mode) in wait in queue which is 77% out of 100%. Another said Yes which is 23% out of 100%. (See graph at p. 33) 7. For this graph talk about Why you want to waiting queue? We analyze data by using Mode which is the value that occurs most frequently.The graph result from the survey is show that 100% said they waiting queue bacause they want to try/eat Krispy Kreme doughnuts (Mode). (See graph at p. 34) 8. For the question, why did you buy Krispy Kreme Doughnuts? We analyze data by using Mode which is the value that occurs most fr equently. The graph result from the survey is show that majority of sample choose Reputation to be reason why they buy Krispy Kreme Doughnuts which is 15 people out of 30 or (50%). The second high that people choose is Taste which is 11 people out of 30 or (36. 67%).There are 3 people out of 30or ( 10%) choose other which they said trend and variety. There are 1 people out of 30 said location and another 1 people out of 30 30or ( 3. 33%) said quality. The choice that nobody answers in the research is price. (See graph at p. 34 ) 9. This graph shows about the rank that customer rate with Krispy Kreme Doughnuts in term of their price, taste, quality, reputation and location. We analyse by using Mean which result for price is 3. 47 (fx = 104 / N= 30), soft is 4. 67 (fx = 139 / N= 30), sweet is 4. 47 (fx = 134 / N= 30), quality is 4. 3 (fx = 133 / N= 30), reputation is 5. 07 (fx = 152 / N= 30), atmosphere is 4. 07 (fx = 122 / N= 30), decoration is 3. 83 (fx = 115 / N= 30), conveneinve i s 3. 37 (fx = 101 / N= 30). The first graph is shows Price, respondent prefer price in rank 3 with 19 people out of 30 as a percentage of 63. 33 percent. For the taste we divide into two categories are soft and sweet. For soft respondent choose Rank 4 with 10 people out of 30 as a percentage of 33. 33 percent and sweet respondent choose same Rank as 4,5 and 6 with 8 people out of 30, as a percentage of 26. 67 percent.For the quality respondent prefer rank 4 with 12 people out of 30 as a percentage of 40 percent. For reputation respondent prefer rank 5 with 13 people out of 30 as a percentage of 43. 33 percent. The last one is show location, we divided in to 3 categories. First one is atmosphere respondent prefer rank 4 with 12 people out of 30 as a percentage of 40 percent. Second is Decoration respondent prefer rank 3 with 12 people out of 30 as a percentage of 40 percent. Last one of location is convenience respondent prefer rank 3 with 10 people out of 30 as a percentage of 33. 3 percent. (See graph at p. 35) 10. For the question, Do you purchase others donut brand while consuming Krispy Kreme Doughnuts? We analyze data by using Mode which is the value that occurs most frequently. The graph result from the survey is show that the majority of sample 26 proplr out of 30 or 87% said they purchase others donut brand while consuming Krispy Kreme Doughnuts†YES† (Mode). Another part is 4 people out of 30 or 13% said they they did not buy others donut brand while consuming Krispy Kreme Doughnuts â€Å"NO†. (See graph at p. 35 ) 11.This graph shows about which donut brand that you purchase apart from Krispy Kreme Doughnuts? We analyze data by using Mode which is the value that occurs most frequently. It surprisingly, the most favorite donut brands that most of all the respondents on this survey preferred was Mister Donut (Mode) about 21 people out of 30 as a percentage of 70 percent, Dunkin’ donut and Daddy Dough are same as 12 people out o f 30 as a percentage of 40 percent, last one is Bapple Donut is 6 people out of 30 as a percentage of 20 percent. (See graph at p. 36) 12. Form question no. 1; why do you purchase those Donut brand? This pie chart has show us the most preferences of people who buying other donuts brand in term of their price, taste, quality, location and other factors. We analyze data by using Mode which is the value that occurs most frequently. From what you can see taste (Mode) was the major factors that were considered by many people who are buying the other donut brands. Followed by, location as it is easy to travel and with lots of transportations that can give them an easy access to get to the destination point.Furthermore, Siam Paragon is the place where most people are likely to go after work or meeting friends. Next, price was the third choice of buying and quality as a sequence. Since the price they would pay for the products must have the similar quality to the amount that they have pay t heir money for that why these 2 factors are follow each others. Other factors are considered to be last which is up to each individual person might have their own reason on their preferences. (See graph at p. 36) 13. This graph shows about Please rank which Donut brands do you prefer the most.We analyse by using Mean which result for Bapple Donut is 3. 7 (fx = 111 / N= 30), for Daddy Dough is 3. 2 (fx = 96 / N= 30), for Dunkin’Donuts is 2. 8 (fx = 84 / N= 30) for Krispy Kreme Doughnuts is 2. 7 (fx = 81 / N= 30), for Mister Donut is 2. 5 (fx = 76 / N= 30)This graph shows us the brands prefer the most by the 30 respondents. We have rank from 1 to 5 forms most favorite to least favorite according to the numbers. As you can see from the 1 rank, Mister Donut has the most preferred by respondents with 13/30 as the percentage of 43. 33 %.At rank 2 Dunkin’ Donuts has overcome KrispyKreme Doughnuts by one person which give Dunkin’ Donuts the second favorite brand among K rispyKreme Doughnuts by 10/30 as the percentage of 36. 03%. Between the rank of 3-4, KrispyKreme Doughnuts and Daddy Dough has the same amount among these two ranks which give them the same the number of respondents of 8/10 as the percentage of 26. 66%. The least favor donut brand at rank number 5 was Bapple with consist of 12/30 respondents are choose to be the least favorite brands of all. (See graph at p. 37 ) 14.This graph shows about If Krispy Kreme Doughnuts has a membership card, would it make you buy Krispy Kreme Doughnuts more than before or not? We analyze data by using Mode which is the value that occurs most frequently. The respondent answer â€Å"Yes† (Mode) 17 people out of 30 as a percentage is 65. 67 percent and answer â€Å"No† 13 people out of 30 as a percentage is 43. 33 percent. So, if Krispy Kreme Doughnuts has a membership it can effective with some customer. (See graph at p. 37) 15. In ours survey we have asked that if KrispyKreame Doughnuts will launch a new branch, where they would like it to be located.We analyze data by using Mode which is the value that occurs most frequently. Out of 30 respondents, 19 people or 63. 33 percent have chosen Central Plaza (Mode) as their first choice, followed by Emporium with 6 people or 20 percent have chosen it. Supermarket, such as Tesco Lotus, Big C, and Careful has been chosen by 3 people or 10 percent and Robinson as the last choice which only 2 persons or 6. 67 percent have chooses it as the new location. (See graph at p. 38) 16. For this graph talk about gender of respondents. We analyze data by using Mode which is the value that occurs most frequently.From the survey that we have interviewed, we have found out that 25 out of 30 people who have done the survey was â€Å"female† as the percentage of 83. 33% in total, whereas, male only 5 out of 30 give us a percentage of 16. 67%. Therefore, most of the women give us almost 90% out of the total number of all the respondents who given up their time to filled out the questionnaire for ours interview. (See graph at p. 38) Conclusion and Suggestion Surprisingly, from all 30 respondents that we have survey we have found out that the majority of Thai people prefer Mister Donut more than any other donut brands.Which give KrispyKreme Doughnut come behind Mister Donut and Dunkin’ Donut. So we can conclude form ours survey that Thai people are like to try new product as it first opening their products by giving to AF contender on TV show and many people may want to try it and wondering whether it is as good as it say or not. However, Mister Donut may be tastier to Thai people taste as it been in business for far longer than KrispyKreme Doughnuts so they know how Thai people taste would like it.In contrast, the reason Mister Donut was the first majority that Thai people are consider as their top donut brands might be that the price for these two brands are quite different to each others and many Thai peopl e are mostly at the middle class status so Mister Donut would be the most reasonable price for many Thai people follow by Dunkin† Donut as both brands have a similar in term of the price. Whereas, KrispyKreme Doughnuts mainly target the upper class status people who have more purchasing power to buy.Where others donut brands might not fit Thai people taste such as Daddy Dough and Bapple might be to sweet or at the same price they would consider of buying KrispyKreme Doughnuts instead. To sum up, according to ours survey we can refer that price was the main reason for Thai people when they consider to buy the product whether such product are food or cloth or electronic stuff. Our suggestion we think KrispyKreme Doughnuts should have a new branch at Central Plaza because, we got the result that if KrispyKreme Doughnuts have a new branch where would respondents like it be located, almost people choose Central Plaza.I think if KrispyKreme Doughnuts have a new branch at Central Pla za it easily for consumer to buy KrispyKreme Doughnuts. By survey respondents think location it not more convenience for them. This is some suggestion that we think for KrispyKreme Doughnuts to reach more consumers. Appendix Bangkok University International College Questionnaire for Marketing Research For the coding we will show how we change choice of answer to be number in coding process. We will show the number that we use instead of label in color number after each choice. The coding number will show in red colorPlease answer the following question by mark (in ( given below: ( ( Screening Questions ( ) 1. Have you been purchased Krispy Kreme Doughnuts during the last one month? (1 ) Yes ( ) (1) No ( ) (2) 2. How often do you consume Krispy Kreme Doughnuts a month? ( ) Once (1 ) (1) 2-4 times (2-4 ) (2) 5-7 times (5-7 ) (3)More than 7 ( ) (4) 3. Where did you buy Krispy Kreme Doughnuts? ( ) Krispy Kreme Doughnuts shop at Siam Paragon ( ) (1) By reseller ( ) (2) Ge neral Questions ( ) 4. How did you know Krispy Kreme Doughnuts? ( ) Friend( )(1) Experience ( ) (2) Media and Advertising ( ) (3) Other Please specify (___) (4) 5. Purpose of buying Krispy Kreme Doughnuts ( Consume ( ) (1) Resell ( ) (2) Gift ( ) (3) Other Please specify (___) (4) 6. If you see long queue, do you want to wait in queue or not? ( ) Yes ( ) (1) No (Skip question no. 7) ( 7) (2) 7. Why you want to waiting queue? ( ) Trend( ) (1) Fashion ( ) (2) Want to try/eat( / )(3) Other Please specify (_) 4) 8. Why did you buy Krispy Kreme Doughnuts? ( ) Price ( ) (1) Reputation ( ) (2) Taste ( ) (3)Location ( ) (4) Quality ( ) (5)Other Please specify (___) (6) Preference ( ) 9. How did you rate Krispy Kreme Doughnuts in term oftheir price, taste, quality, reputation and location? ( , , , ) | |Low( | | | | |High( ) | | |1(1) |2(2) |3(3) |4(4) |5(5) |6(6) | |9. 1 Price ( ) |   |   |   |   |   |   | |9. 2 Taste ( ) |   |   |   |   |   |   | | 9. 2. 1 Soft ( |   |   |   |   |   |   | | 9. 2. 2 Sweet ( ) |   |   |   |   |   |   | |9. 3 Quality ( ) |   |   |   |   |   |   | |9. 4 Reputation ( ) |   |   |   |   |   |   | |9. 5 Location ( |   |   |   |   |   |   | | 9. 5. 1 Atmosphere |   |   |   |   |   |   | |( ) | | | | | | | | 9. 5. 2 Decoration |   |   |   |   |   |   | |( | | | | | | | | 9. 5. 3 Convenience |   |   |   |   |   |   | |( ) | | | | | | | Competition ( ) 10. Do you purchase others donut brand while purchase Krispy Kreme Doughnuts? ( ) Yes ( ) (1) No ( ) (2) 11. Which donut brand that you purchase apart from Krispy Kreme Doughnuts? (Answer more than one) ( 1 ) Bapple Donut (1) Daddy Dough(1) Dunkin’Donuts(1)Mister Donut(1) Other (Please specify___________) (1) * 1 it’s mean respondent choose that brand 12. Form question no. 11; why do you purchase those Donut brand? ( 1 ) Price ( ) (1) Ta ste ( ) (2) Quality ( ) (3)Location ( ) (4) Other (Please specify___________) (5) 13. Please rank which Donut brands do you prefer the most ( ) (1-5 1 5 ; 1= most , 5 = lease ) ____________ Bapple Donut ( ) ____________ Daddy Dough ( ) ____________ Dunkin’Donuts ( ) ____________ Krispy Kreme Doughnuts ( ) ____________ Mister Donut ( *It code by how many respondent prefer with 1(most) – 5(lease) in each rank Improvement ( ) 14. If Krispy Kreme Doughnuts has a membership card, would it make you buy Krispy Kreme Doughnuts more than before or not? ( ) 15. If Krispy Kreme Doughnuts launch new branch, where would you like it be located? ( ) Central Plaza ( ) (1)The Emporium ( ) (2) The mall ( ) (3)Robinson ( ) (4) Super market Tesco Lotus, BigC, Careful, and etc) ( , , ) (5) Other (Please specify___________) (6) Personal Data ( ) 16. Gender ( ) Male ( ) (1)Female ( ) (2) 17. Age ( ) Less than 20 ( 20) (1)21-25 (2) 31. (3) 31-35(4) More than 35( 35) (5) 18 . Occupation ( ) Student ( / ) (1)Office Worker ( ) (2) Business Owner ( ) (3)Other Please specify_________ ( ) (4) 19. Income per month ( Less than 10,000 ( 10,000) (1)10,001-15,000(2) 15,001-20,000(3)More than 20,0000 ( 20,000) (4) ___________________________ Thank You _________________ / Coding [pic] [pic] [pic] Graphs 1. Response rate [pic] 2. [pic] 3. [pic] 4. [pic] 5. [pic] 6. [pic] 7. [pic] 8. [pic] 9. [pic] 10. [pic] 11. [pic] 12. [pic] 13. [pic] 14. [pic] 15. [pic] 16. [pic] References †¢ Gilbert A. Churchchill, Jr. , and Tom J. Brown (2007), Basic Marketing Research (6th ed. ), International Edition: Thomson South-Western. †¢ http://www. krispykreme. co. th/

Managing Communication Knowledge and Information â€

Managing communication knowledge and information – Unit 16 By MD YUSUF HND business level 5, Year 2012-13, Student No- cc00111 Introduction: – Market research is very essential whether you want to enter the market with a new product, increase the market base of an existing product or give  a unique offering to your customers. Every target group becoming smarter day by day, and word of mouth becoming stronger through social networks, Market research now very important which helps you make the right decisions. Why Market ResearchMarket Research provides the right direction such that your customer base is satisfied with you and you get to know which plans and features need to be adopted to retain or expand on the customer base. . â€Å"Market research is the systematic collection of information on existing and exponential markets for analysis and subsequent action† (William G. Zikmund, 2009). Now to actually understand Market research, you need to understand this statement accurately. Market research consists of two separate types of research that can be categorized as secondary and primary research.Secondary research consists of collecting already published data to create a â€Å"company database† that may serve to perform situation analysis. It helps to identify the company's competitors, perform a strategy for benchmarking and also determine the segments the company should target in view of factors such as demographics, population, usage rate, life style and behavioural patterns. The purpose of marketing research is to improve marketing and business decision making (Kolb, 2008).Recognize and define how primary and secondary information relating to products and service levels improve marketing decisions related to price, physical and virtual communications, distribution, and segmentation strategy and tactics. There are many categories of research design, such as exploratory versus quantitative, primary versus secondary, and experime ntal versus non-experimental. This module compares and contrasts alternative approaches, and discusses when each is appropriate.Primary research serves to provide information through monitoring sales levels and measuring effectiveness of existing business practices like service quality and tools for communication being used by the company. It carefully follows competitor plans to gather information on market competition. Both primary and secondary researches are essential to fulfil the company's objectives. Data Collection Methods:- Data collection methods for marketing research are divided into quantitative and qualitative methods.Quantitative studies use mathematical analysis, which can disclose differences that are statistically significant. The sample size used is quite large. Qualitative methods are used to provide a base for quantitative research and help in quantitative research design development. They target problem defining, generating hypotheses and identifying determinan ts. They consist of one to one interviews to probe for personal opinions, beliefs and values and serve to uncover hidden issues. The sample size in this method is small.The fact is that you can't have a successful company without having the right data about customers, products and the market in general. Market research is an essential management tool for a viable business plan enabling any company to survive and thrive in today's fiercely competitive market conditions. Examination of the information and knowledge of the market Many organizations are now more customer-focused and use knowledge-based  strategies to reach out to their customers. This is particularly so in knowledge-intensive industries such as the biotechnology and the engineering industries.Marketing Guru Peter Drucker , views marketing as a philosophy or way of doing business and in its importance in focusing on the customer (Drucker, 2007) Knowledge exploration focuses on the detection and acquisition of new wisdo m, while knowledge exploitation emphasizes the utilization of existing wisdom Developing the ability to understand different types of knowledge, maintain knowledge according to its different nature, and select an effective way to leverage each type of knowledge is paramount to the exploitation process.According to Kleiner (Kleiner, 2003) People must have a positive disposition to new knowledge if knowledge is to become effectively integrated in the firm’s operations. This positive attitude involves employees being intellectually curious, willing to explore new ideas, considering possible adoption of such new ideas, and, most importantly, managers encouraging employees to contribute their new ideas without fear of repercussions. Employees  are likely to have skills and experience to use market. Internal and external source of information and their usefulness Business data and information comes from multiple sources.The challenge for a business is to capture and use informati on that is relevant and reliable (Cook, 1997). The main sources are: Internal Information Accounting records are a prime source of internal information. They detail the transactions of the business in the past – which may be used as the basis for planning for the future (e. g. preparing a financial budget or forecast). The accounting records are primarily used to record what happens to the financial resources of a business. For example, how cash is obtained and spent; what assets are acquired; what profits or losses are made on the activities of the business.However, accounting records can provide much more than financial information. For example, details of the products manufactured and delivered from a factory can provide useful information about whether quality standards are being met. Data analysed from customer sales invoices provides a profile of what and to whom products are being sold. A lot of internal information is connected to accounting systems – but is no t directly part of them. External Information As the term implies, this is information that is obtained from outside the business.There are several categories of external information: – Information relating to way a business should undertake its activities businesses need to keep records so that they can collect taxes on behalf of the government. So a business needs to obtain regular information about the taxation system (e. g. PAYE, V AT, corporation Tax) and what actions it needs to take. Increasingly this kind of information (and the return forms a business needs to send) is provided in digital format. Similarly, a business needs to be aware of key legal areas (e. g. environmental legislation; health & safety regulation; employmentlaw).There is a whole publishing industry devoted to selling this kind of information to businesses. – Information about the markets in which a business operates This kind of external information is critically important to a business. It i s often referred to as â€Å"market† or â€Å"competitive intelligence†. Most of the external information that a business needs can be obtained from marketing research. Marketing research can help a business do one or more of the following:Firstly, Gain a more detailed understanding of consumers’ needs – marketing research can help firms to discover consumers’ opinions on a huge range of issues, e. . , views on products’ prices, packaging, recent advertising campaignsSecondly, Reduce the risk of product/business failure – there is no guarantee that any new idea will be a commercial success, but accurate and up-to-date information on the market can help a business make informed decisions, hopefully leading to products that consumers want insufficient numbers to achieve commercial success. Thirdly, Forecast future trends – marketing research can not only provide information regarding the current state of the market but it can als o be used to anticipate customer needs future customer needs.Firms can then make the necessary adjustments to their product portfolios and levels of output in order to remain successful. The information for marketing research tends to come from three main sources: Internal Company Information – e. g. sales, orders, customer profiles, stocks, customer service reports marketing intelligence – this is a catch-all term to include all the everyday information about developments in the market that helps a business prepare and adjust its marketing plans. It can be obtained from many sources, including suppliers, customers and distributors.It is also possible to buy intelligence information from outside suppliers who will produce commercial intelligence reports that can be sold profitably to any interested organisation. Some guidance to improve the process of information collectingData quality is essential to businesses in prospecting and retention efforts. Without accurate da ta, companies struggle to execute successful marketing campaigns or fulfil customer expectations. Despite the importance of accurate data, a recent Experian QAS study (Experian QAS, 2013) revealed that 51 present of businesses do not have a data quality strategy.Five recommendation   can improve contact data quality along with suggestions for measuring and tracking ROI. Recommendation 1:- Track mail deliverability. Personalized communications, through email or direct mail, drive a significant percentage of marketing efforts. These channels have evolved to facilitate truly relevant and customized messaging. Recommendation 2: Verify information before database entry. Correcting contact information is always easier when the client is engaged. This engagement can occur through a Web form, a telephone call or even a live online chat.Ideally, data verification software tools will prompt either the staff representative or the audience member to complete missing contact details and will t hen format the address to comply with USPS or email standards. Recommendation 3: Understand organizational data and how it got there. It is important for businesses to fully understand the information contained in their database in order to improve operations and communications. This will provide insight into data quality challenges and allow managers to better select solutions that get to the root of their troubles.Recommendation 4: Appoint multiple data quality managers. Data management is a multifaceted strategy that should be shared by all employees who capture access, manipulate and update records. Whether better data translates into more effective prospect on-site meetings, lead nurturing campaigns, customer implementations, product deliveries or other mail communications, the business benefits of promoting data quality are shared throughout all departments. Recommendation 5: Schedule regular database check-ups. Individuals and businesses have become mobile in today’s e conomic and social environment.Consider how quickly data expires within a given audience. A complete data quality strategy calls for regular database checkups on top of data capture best practices. To ensure contact data integrity, supplement real-time verificationefforts with regular bulk processing. stakeholder : who are related with us. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.All stakeholders are not equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs. This negatively affects the community of workers in the area and t herefore the localeconomy. Someone owning shares in a business such as Microsoft is positively affected, for example, when the company releases a new device and sees their profit and therefore stock price rise.Stake holder strategy: – some important conceptAt first, Identify the most important stakeholders: your customers, investors, suppliers, employees and members of your community. Secondly, create an open door policy to discover information and facilitate sharing. Invite comments and questions, send out surveys or hold focus groups to determine their needs and define the issues that matter most to them. Gather and update contact information on your stakeholders, too. Thirdly, Interact with stakeholders using appropriate communication channels.If they have a reference for email, use email to contact them. Train key spokespeople on how to deal with the media when answering questions on sensitive issues. Fourthly, Address stakeholder needs and issues in your communications t o them. Respond thoughtfully and honestly. Acknowledge significant problems, clarify and interpret any issues that may arise to reduce potential conflict. Fifthly, Provide a consistent message that â€Å"constantly refers to corporate ethics and values,† according to PR-inside. Reinforce your reputation and your brand in the minds of stakeholders through this messaging.Enhancing knowledge about the market Frank Drake is using informal way of business communication. Effective communication occurs when a message is completely understood by its recipient. Communication encompasses most areas of life. It is used in both official and personal relationships. Communication is intended to inform, persuade or inspire the listener. Some advantages of effective communication are it provides direction, clarity and purpose. Effective communication does have its drawbacks, however, as when it's used to persuade someone in a manipulative way and when it limits feedback.The advantages of ora l channels of communication :- They are fast – useful for obtaining very recent unpublished information, they are based on two-way communication and therefore promote an understanding of the real information need(s)  and the communication of  relevant  information, they are flexible, they are simplify and facilitate the transmission of information between people working in different subject areas (useful in interdisciplinary studies) and finally they are easy and pleasant to use The disadvantages of oral channels of communication:-They are not open to everyone – established researchers have access to good networks of contacts, but these usually take time to cultivate, they can lead to misconceptions because the information is sometimes incomplete (lack of detail etc. ), They are difficult to maintain and therefore unstable, it can also lead to misunderstanding ,as oral promises do not lend anywhere. On the other hand, as a human nature one can make mistake in spe lling something different which can sometimes leads to major mistake Communication system Official formal business communication is a strategic exchange of information that supports a clear agenda.This information is traditionally considered as in-house method of communication, but can include structured interactions with people and entities outside the organisation (Mary Ellen Guffey, 2010). Formal communication can also trigger informal interactions. For example, a chief officer may schedule a tour or town hall meeting where a free flow of comments on topics of discussion are encouraged. However, these can lead to personal interactions, stories and ideas that were not on the original agenda. System steps Step one, Frank need to find a mentor who exhibits the ability to communicate well at his company .Soon after he hired, ask him to share what he did to communicate well. Finally, ask that he keep track of your progress and give you pointers on how you can improve. As he becomes a â€Å"seasoned employee† who is on the rise, volunteer to become a mentor to someone who has just been hired. Step two:- Improve your ability to listen, and you are halfway to being a good business communicator. You may think that you listen well, but the chances are you are actually figuring out what you should say next. Ask good questions, and then listen well to the answers.You are likely to break through someone's â€Å"hidden agenda† and learn what is really important to her. Above all, remember there is often a difference between what someone may say and the opinions she might actually have. Step three:- Practice  your business  communications skills as frequently as you can. Start by writing memos and emails. Always write your findings, recommendations and other requirements of your job, even though you normally offer them face-to-face. Step four :-When you attend a meeting, be sure your presence is felt by the questions or answers you give. If necessary, fo rce yourself to do this until it becomes second nature.When you are asked to present your views to a group, prepare a formalized presentation then practice it beforehand. Increased familiarity will ease presenting to a group. Step five :-Take communications courses that your company may offer, or request permission to attend sessions by Dale Carnegie Corporation or something similar. Also, learn how to address an audience by becoming a member of Toastmasters International, an organization with chapters across the country. Improving your personal communication skill There are hundreds of footsteps that you can take to improve on your interpersonal communication skills.These skills are otherwise known as people skills and they make a huge difference in the number and quality of the friends that you have. Improving your interpersonal communication can mean the difference between making lifelong friendships or just having an over abundance of acquaintances. Have to be Honest:  People do not like someone who is a liar or someone who seems fake. Many people can tell if a person is acting in a way that is not real to them and this makes others feel the need to hide from you the same way. Do not act like someone that you are not just to gain the friendship of that person.Being honest is a people skill that true friends recognize as a trait that should be cherished. It does no good to tell lies as this type of interpersonal communication is insincere and is respectful to the other person. Honesty is the key to relationship and without it the relationship is nothing more than a sham. Don’t Criticize:  To criticize someone is to act as though you are inherently better than that person. You should go into any relationship with the thought that you are no better than the next person-because you aren't! You may do some things better than the other person, but they likely do some things better than you.A great people skill to have is the ability to recognize your strengths and weaknesses and those of the people around you without criticizing the other person. If you can do this then you can win more friends just for being compassionate enough to realize that you may do something better but you do not blurt that something out just for attention. Must listen to People:   This skill is very important for interpersonal communication success. To listen to someone means not just to hear what they are saying but to actually consider what they are saying and find something hat you can agree with. Do not just instantly decide that you disagree and then stop listening. Pay attention to the other person and think about what they are saying. Find a way that you can relate to their thoughts even if you don't fully agree with them. Know the matter:  Asking questions is a nonverbal communication technique that everyone should consider. This technique is useful to you and it makes the other person feel like you actually care. You should care enough to a sk questions that relate to a conversation so that you can continue a conversation.Admission:  Admit when you are wrong! If you are wrong and you know it or it has been proven, then admit to it gracefully. Do not make a big deal about it, we are all wrong at some point in our lives. It is how we admit our mistakes that make us more friendship oriented. Nobody likes someone who is arrogant and cannot admit a simple wrongdoing. If the other person is right, let them know that you realize that. Do not just bask in the fact that you do not want them to know. They deserve to know the same way that you deserve to know when you are right.This admission or right and wrong become a balance of respect and understanding between two friends and is a very important part of interpersonal communication. Information StrategiesKnowledge may be accessed at three stages: before, during, or after KM-related activities. Different organizations have tried various knowledge capture incentives, including making content submissionmandatory and incorporating rewards into performance measurement plans. Considerable controversy exists over whether incentives work or not in this field and no consensus has emerged. One strategy to KM involves actively managing knowledge (push strategy).In such an instance, individuals strive to explicitly encode their knowledge into a shared knowledge repository, such as adatabase, as well as retrieving knowledge they need that other individuals have provided to the repository knowledge management strategies and instruments for companies include:rewards (as a means of motivating for knowledge sharing),storytelling (as a means of transferring tacit knowledge),cross-project learning, after action reviews, knowledge mapping (a map of knowledge repositories within a company, accessible by all),communities of practice expert directories (to enable knowledge seeker to reach to the experts),best practice transfer, knowledge fairs, competence management (systema tic evaluation and planning of competences of individual rganization members),proximity ; architecture (the physical situation of employees can beeither conducive or obstructive to knowledge sharing). Not only those but also master-apprentice relationship, collaborative technologies (groupware, etc. ), social software (wikis, social bookmarking, blogs, etc. ), Inter-project knowledge transfer is also important factor for information strategythese knowledge management have the advantage of using the organization existing informationtechnology infrastructure. Organizations and business decision makers spend a great deal of resources and make significant investments in the latest technology, systems and infrastructure to support knowledge management.It is imperative that these investments are validated properly, made wisely and that the most appropriate technologies and software tools are selected or combined to facilitate knowledge management. Conclusion: Research management has also become a cornerstone in emerging business strategies such as Service Lifecycle Management with companies increasingly turning to software vendors to enhance their efficiency in industries including, but not limited to, the aviation industry. So it is important to Frank Drake to do research and use the data to make the best action for their business References Experian QAS. (2013, 01 10). Retrieved 02 15, 2013, from product data services: http://www. qas. co. k/products/index. htm? tid=1;tdet=qas;gclid=CPu3zMbR0bUCFfLLtAodakcAag Cook, H. E. (1997). Product Management: Value, quality, cost, price, profit and organization. Cambridge: Springer, . Drucker, P. F. (2007). The Effective Executive. Mumbai: Elsevierworldwide. Kleiner, E. (2003). The Successful Business Plan: Secrets ; Strategies. oxford: The Planning Shop. Kolb, B. (2008). Marketing Research: A Practical Approach. london: SAGE publisher. Mary Ellen Guffey, D. L. (2010). Business Communication: Process ; Product. boston: Cenga ge Learning. William G. Zikmund, B. J. (2009). Essentials of Marketing Research. oxford: Cengage Learning.

The True Essence of Romantic Love - 1130 Words

In William Shakespeare’s Romeo and Juliet, love is exemplified more ways that we can imagine, from the undying love of two people to parental love. Love celebrated by the protagonists with playful sonnets to express their endearment and love for one another. Love that transcends from such powerful gazes and translates into an undying love. Society’s encroachment to a very innate and fundamental aspect of our being is met with violence and death. We must not forget that the very essence of love is that you cannot control love. It is innate, a reflex if you will, and for everyone the Holy Grail of life. In the prologue, the narrator begins with â€Å"A pair of star-crossed lovers take their life;† (prologue 6). The protagonists are being†¦show more content†¦Innocent, pure, faultless, chaste, unblemished, righteous, pristine and immaculate, therefore how can we go wrong with love? Since time in memorial we all have written about love, for Fredrick Ham wrot e, â€Å"Two souls with but a single thought,/ Two hearts that beat as one.† St. Augustine wrote, â€Å"Better to have loved and lost, than to have never loved at all.†, Karen Sunde wrote, â€Å"To love is to receive a glimpse of heaven.†, and in the immortal words of John Lennon, â€Å"All you need is love, love, love is all you need.†. It seems that we celebrate and long for love because we know it is truly, the ultimate high. We long for it because sometimes we think it is impossible to attain and yet we continue to walk the face of the earth in search for our true love, whether one believes it or not. The playful sonnet on act 1 scene 5 is an exchange between Romeo and Juliet referring to one another as once again Heaven-like creatures. Romeo begins, â€Å"If I profane with my unworthiest hand/ This holy shrine, the gentle sin is this:/ My lips, two blushing Ty 4 pilgrims, ready stand/ To smooth that rough touch with a tender kiss† (1.5.104-107). Romeo reveres Juliet’s hand almost like the Holy Grail and is ready to face the consequences of touching and kissing them. Juliet indulges Romeo with his play with words and replies, â€Å"Good pilgrim you do wrong your hand too much,/ Which mannerly devotions shows this;/ For saints have hands thatShow MoreRelatedLove Has Many Definitions Essay791 Words   |  4 PagesWhat is love? Webster defines love as â€Å"a strong affection for another arising out of kinship or personal ties maternal love for a child (2): attraction based on sexual desire: affection and tenderness felt by lovers (3): affection based on admiration, benevolence, or common interests love for his old schoolmates.† Love comes in many forms. 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The novel was written after the crushing defeat of December uprising. In hisRead MoreAnalysis Of The Children Of Men 1718 Words   |  7 PagesOne would present a rather facile and straightforward argument in saying that P.D. James’ The Children of Men encompasses the very essence of dystopia and portrays it in way that evokes a sense of pathos within her audience. However, one might find it difficult to claim that the notion of romantic love, or eros, exists at a level greater than that of the general sense of complacency and desolation that runs rampant throughout humanity in James’ world. That being said, it becomes even more difficultRead MoreThe Decline Of Romanticism : Flaubert And Madame Bovary989 Words   |  4 Pageshis life onto Emma’s character. They were both fixated on this idea of romanti c love and a sense of yearning, they both shared sickness or depression, and both failed to realize the work and sacrifices needed to make their desires a reality. 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