Project: Fall 2016 Business Operations Research

Step Description Expected Student Results
1 Student will be finalizing their choices for target business to conduct the market research study. A detailed analysis of the potential target market must be evaluated as this project is concerned with generational markets. II.INTRODUCTION A.Description of the business or organization * what is the type of business (manufacturer, wholesaler, retailer, service provider) * What products/services do they sell? * Who are the owners? * What size is the business? How long in business? * What are the business's current marketing efforts? * How is their market segmented (demographics, geographics, and psychographics)? * Do they have a promotional budget? If so, how much? B. Description of the community (economic, geographic, demographic and socioeconomic factors) *After determining the geographic boundaries of the business's market, a thorough analysis of that community must be researched and developed. C. Overview of the business or organization’s current promotional strategies and practices II. Introduction, will include researching the information listed and typing it in a written report using the outline format. Students will conduct secondary research as well as primary research to gather the needed data. Students are encouraged to but not required to use surveys, focus groups, interviews for the data collection. Most secondary data will be collected using the Internet provided in class. The student will submit a rough draft to the mentor. The mentor will review, edit and provide effective feedback for the student work, the student incorporates the feedback and submits a second draft for review, mentor reviews that draft. Students will make corrections and finally submit to teacher for teacher to grade.
2 Students will be preparing their method of research, whether it be a survey, interview questions, observation, focus group, etc. A draft survey will be developed and approved by the business or organization Students will decide upon their method of research, and submit a rough draft to the mentor in order to make sure that all pertinent questions are asked. The students may need assistance in asking the correct questions in order to get the information they are looking for.
3 III. Research Methods used in the Study A. Description and rationale of research methodologies selected to conduct the research study PRIMARY DATA: In conducting a SWOT analysis, the best way to gather information about the business is a face to face interview (survey) with owners/managers/employees/customers. Therefore, the method of collection will be important to the collection of applicable data. What information did you need to know in order to design your instrument? What types of questions did you need to ask about the business or organization? (For the manager or owner)? (Include these questions in section III.) SECONDARY DATA: (information already researched) -Prepare a competitor's' grid to analyze the competition as well as a SWOT analysis of the business. B. Process used to conduct the selected research methods (Completed after data is collected!) How was the Primary Data collected? What method(s) did the student utilize? This section should be a detailed explanation of what the student did to collect data. C. Data will be collected during this time. III. Research Methods used in the Study This section develops the reasoning and process of developing and utilizing the survey instrument(s). Also in this section the students will have prepared interview (survey) questions and analyze the process of actually accumulating the data. This is an objective narrative. **Students must collect data during this period.
4 IV FINDING AND CONCLUSIONS OF THE STUDY A. Finding of the research study-This section is the statistic report based on the data. There is no analysis of the data in this section, just an unbiased development of the customer profile and other data relevant to the project. B. Conclusions based on findings-This is section where real analysis happens. Deep analysis of the existing data which will then be a basis for the new marketing efforts. The student will submit a rough draft to the mentor. The mentor will review, edit and provide effective feedback for the student work, the student incorporates the feedback and submits a second draft for review, mentor reviews that draft. Students will make corrections and finally submit to teacher for teacher to grade.
5 V. PROPOSED STRATEGIC PLAN A. Objectives and rationale of the proposed plan-Very Specific Goals and metrics B. Proposed activities and timelines C. Proposed metrics or key performance indicators to measure plan effectiveness (ROI) *This section will be developed concurrently with the budget component in the next section V. Proposed Strategic Plan and Cost Analysis Students will set a budget and come up with means of measuring the results (ROI). The most difficult part of this section is the determination of the Return on Investment (ROI) as a result of the proposed marketing activities. Since students do not actually implement the project at a place of business, it is challenging for the students to understand how to calculate this information. They will probably need more help in this section. The student will submit a rough draft to the mentor. The mentor will review, edit and provide effective feedback for the student work. The student will incorporate the feedback and submits a second draft for review, mentor reviews that draft. Students will make corrections and finally submit to teacher for teacher to grade.
6 VI. Proposed Budget A.Costs associated with proposed strategies This section will force the students to consider all costs associated with the proposed changes and activities. Costs for each suggestion must be researched and referenced in the budget.
7 I. Executive Summary One to three page brief of the project Students will outline their project in a one to three page report for the executive summary. This is a very important part of the project; in some cases, this is the only part of the written project that the judge will be able to read. The student will submit a rough draft to the mentor. The mentor will review, edit and provide effective feedback for the student's work. The student will incorporate the feedback. Students will finally submit the final project to teacher for grading.
8 Oral Presentation of Project Students are expected to present their entire project orally in the classroom. The students will compete at a District Level in February and the top three winners from each category will move on to the State level. Mentor role: any feedback that will help the student succeed in the presentation will be appreciated. Evaluating presentation method is professional and clear is the goal.