Research Methods in Business and Economics - Essay Example

?  Research Methods in Business and Economics Inserts His/Her Inserts Grade Inserts (28, September, 2011) Value Creation, Competition, and Performance in Buyer-Supplier Relationships Research Focus Value creation is considered an important tool for attracting customers and increasing the profitability of a firm. A value added product or a service can outperform competitors while helping establish long term buyer-supplier relationship. The research done on the subject is quite extensive and many patterns have been identified. This research aims at providing a link between industry structures and firm performance. The paper also attempts to explore the differences between client-specific value creation and non client-specific value creation, and the effect of competition when there is a high level of client-specific value creation. The focus of the research is also to identify the effect of firm’s capabilities on performance of the firm. Basically many concepts are discussed in the research and a link between them is attempted to be made through empirical framework. The research explores the idea of competition with respect to value creation. A value creating firm might get affected by competition in many ways and this study explores this aspect as well. The research also talks about performance and industry structures. According to the researcher there is a link between performance and industry structures of firms operating. The idea behind the research is to identify how industry structures can affect performance. Value creation and buyer-supplier relationship is also discussed in the article. The focus is on strategic management concepts that can help a firm decide about its practice with respect to its industry, competition, and kind of value creation most suited for it. Illustration of Theoretical Concepts The article is written with a scholarly fervour and is not intended for the general audience. There is an erudite tone kept throughout the article, and it is assumed that the readers are professional and well read. The structure of the paper is also professional with introduction given first and then comprehensive literature follows. The study gives a sufficient introduction and literature review. The article has given considerable illustrations of the theoretical concepts mentioned in the research. Resource based view is discussed and through empirical studies and findings it is explain in terms of competition, performance and capability. Client-specific and non client-specific value addition is also differentiated and competition is discussed in the case of high client-specific value addition. The author has sometimes, in the article, gone with the flow and has jumped quickly from one concept to another. It is understandable that the nature of research is such to discuss and link many concepts but at times in the paper considerable time is not given to a concept. For example firm performance and capability is not discussed greatly in the paper. This may be because the researcher believes that the audience is well versed with the concept beforehand. The paper is indeed written for professional people but still some clear distinction and explanation of the concepts would have increased the reach of the study. Presentation of Findings The author has presented the findings of the study in a professional manner with tables and statistical information given to the readers. A longitudinal study is usually difficult to conduct as it requires use of complex statistical instruments, but the author seems to have worked well in this regard. The statistical information is also given in proper tables so that it is easy to read. The best thing about the research is that the hypotheses are presented very clearly. The study is no doubt a complicated study with focus on diverse concepts and their impact on each other. It was therefore important to present the methodology and hypotheses in a clear manner and this is done in the study rather effectively. The discussion is also aiding the understanding of viewers with regards to the results of the study. Discussion is based upon the results of the study and is written objectively. Discussion is also short and concise meaning that author has not dwelled upon the findings, and has not made an attempt to give opinions meaning objectivity has prevailed throughout the research. References used are also taken from a variety of sources but they are making sense. All the concepts which are discussed are explained through previous studies conducted on the subject, and overall the study is a good read for professionals and academic people. Testing Management Theories: Critical Realist Philosophy and Research Methods Research Focus It is often difficult to test theories pertinent to strategic management and therefore one has to rely on theoretical framework to provide evidence for strategic management theories. It is also difficult to setup an environment that can effectively test theories in an objective manner. In this article a four step approach of theory testing is given which can aid researchers to better understand and evaluate management theories objectively. Research methods are also proposed that can help test organizational theories. The article first discusses why it is difficult to test management theories with respect to organization. Organizations are extremely complex and they operate at varying levels of personal and collective relationships. It is therefore difficult to test theories regarding organizations because organizational settings cannot be recreated in a laboratory. Human behaviour is also unpredictable when it comes to strategic decision making, therefore testing management theories is difficult. Managers can also change their behaviour over time and the extent to which a tested theory is valid is questionable. All in all, management theories are different from natural and social science theories and are more complex to test. The research proposes a critical realist philosophy of testing theories of management. Critical realism argues that theories can be evaluated independently of other theories and it takes a humble stance on accepting or rejecting theories. The research then focuses on defining a model through which management theories can be tested empirically. The research offers computer simulations to create an environment that can test the effectiveness of management theories. Illustrations of Theoretical Concepts There are importance concepts discussed in the research and enough explanation is given. Critical realism is discussed greatly and other conflicting philosophies are also discussed. There are also factors given that restrict the objective evaluation of strategic management theories. The methodology proposed also has many concepts and all of them are explained sufficiently. The writing structure of the article is not conventional because it is not an empirical research. The article is proposing a new philosophy of testing strategic management theories effectively so that knowledge addition is possible. First the study explains the obstacles that hinder testing of strategic management theories. Then critical realist philosophy is explained and it is shown how it can aid in testing of management theories. After that possible methodology of empirical investigation of strategic management theories is given. The writing style is very professional and the article is written in a simplified manner. The concepts are explained thoroughly therefore general audience can also understand the study. The inability to test management theories is explained at great length so as to clear what the study is aiming to do. There are not many concepts discussed in the study rather a few concepts are given but these concepts are explained to the fullest extent, therefore the readers can understand the study easily. Presentation of Findings As mentioned before this study is not a conventional research. No empirical evidence is collected in the research paper rather theoretically an argument has been forwarded, and evidence of that argument is given by mentioning the existing literature on the subject. The article proposes a four step model that can help test the previously non-testable strategic management theories and also provides a philosophical justification for its claim. The findings are presented in a step by step method, and each step of the model is explained in great detail. The findings are therefore in a systematic pattern and are also easy to understand. The mentioning of existing literature has increased the academic worth of the study. Different references are used in the findings and they are differentiating the opinions of authors with facts. One main problem with these kinds of research is that authors can get carried away. They can dilute the results by giving their opinion as facts in the study. Because no empirical data is collected audience may be misguided as to what is fact or opinion. The best thing about the article is that it has attempted to differentiate between fact and opinion to a great extent. This is why references used in the study are justified and relevant with regards to the scope of the study. Corporate Social Responsibility: Investigating theory & Research in Marketing Context Research Focus Corporate social responsibility has become an important part of business world today and it is now expected of firms to contribute to the social causes of the society. Corporations are also forced to invest in such programs because non compliance will breed negative image of the firm in the market. The huge influence of corporate giants is often considered negatively so there is a perception that rich firms should be contributing to the society. The research focuses on the corporate social responsibility and how marketing research has addressed CSR. Marketing literature is examined with regards to corporate social responsibility in the study. The article attempts to define CSR and then study marketing literature to better understand the subject of corporate social responsibility through the lens of marketing. The focus of the research is on clarifying doubts that exist with regards to corporate social responsibility. The article argues that corporate social responsibility is not a very clear concept and managers are still trying to define the term. The absence of a strict definition has also hindered in the study of the concept with respect to marketing literature. The article also defines marketing and corporate social responsibility for the research purposes. The study uses secondary data in order to better understand the concept of corporate social responsibility. Marketing journals are used and articles from them are selected to be studied in the research. The use of secondary data is justified in the research because it aims to explain CSR as understood by marketing discipline. Illustration of Theoretical Concepts The article in question is written for the general public therefore it is easy to understand. There are no assumptions made by the authors about the understanding of audience and they have presented everything in the article in a simple form. All concepts are explained to the core and specific definitions are formulated after giving general and broad definitions. The concepts are explained to fullest extent and study is aimed for everyone who is interested, not only the academia or professionals. The study is also well structured with introduction and literature given before methodology and results. All ingredients of an objective study can be seen in the study and authors have not used their personal opinion to explain the issue in hand. The relevant material from the marketing journals is used to explain the concept of corporate social responsibility. Conflicting definitions of CSR and marketing are also given so that audience can get a clear idea about the concepts. It is also clear that authors have not attempted to dilute the study with their own opinions rather they have made use of the existing literature present on the concepts. This actually adds to the objectivity of the research. Presentation of Findings The findings are also presented in a proper manner in the study. Authors have systematically discussed the findings by breaking them into categories. Three main categories that came up after the study are ethics, social and environment. These three categories are used by marketing literature to explain CSR. Presentation of findings is also done in an objective manner and opinions are not used. Tables are used to aid the presentation which is good and all articles used in the research are clearly mentioned. The results of the study are also written in an easy manner that can be understood by everyone. No technical terms are used in the discussion and they are explained even if they are used. An attempt has been made by the authors to keep the study simple so that a wide range of people can understand the findings of the study. The citations given in the study are also relevant. References are given in a proper manner and authors have refrained from using their personal opinion to a great extent. Mostly they have relied on existing literature and this is a positive aspect of the research. A good study adds value to the knowledge base of the audience. This study is doing that and at the same time it is using the existing literature to compliment its findings. Drivers of Success for Market Entry into China and India Research Focus China and India are considered the emerging markets of today. They are growing at a great pace for many years and are expected to do so in near future as well. Many firms are also trying to get into Chinese and Indian markets in order to cater to the large markets of the country. The cheap labor of both the countries is also attracting businesses towards them. Production units are being shifted to China and India in order to lower costs of production. The focus of the research is to identify success factors that can play a role in the success or failure of a firm that is entering emerging markets like China and India. The article differentiates entering of firms in China and India from their success. It is believed that China and India are great for doing business, and in reality they are the economic giants of the world, but all firms do not get successful just by entering in these countries. There are certain factors that play a role in firm’s success in India and China, and these factors are identified in this research. There other empirical studies that have focused on the same topic like Gielens and Dekimpe (2007) and Luo (1998). This shows that the topic of the article under discussion is not something very unique and works like this have been conducted before. It is important to look for similar studies because they give a benchmark for comparison. This also increases the overall objectivity of the research. The study has also used an unconventional definition of success. Authors have defined success as the historical success of firms as given in the archival records. They have not used market share or profits as a measure of success which is usually the case. Illustration of Theoretical Concepts There are many concepts like market entry mode, economic distance, cultural distance, country risk, and country openness discussed in the study. The authors have explained all these firms in a very detailed manner and there are no assumptions made regarding the audience. The article is written in a professional way but still it can be understood by general audience because explanation of the research focus and concepts is given in simple, non technical language. The structure of the article is also conventional and academic in nature. Introduction talks about the topic itself and what readers will get to read in the study. Introduction is followed by a literature review and then research questions are stated. Methodology and results are given in the end. This research is based on collection of archival records of firms entering in China and India therefore primary data is collected. The literature review is also formulated with great expertise because previous literature is used in abundance. Authors have tried to inculcate as much existing literature on the subject as possible. They have also made their argument in the convincing manner by highlighting clearly what previous studies were not able to identify and what they will do new in the study. This makes it very clear about the objectives of the research. Presentation of Findings Findings of the research are presented in table forms which is easy to read. The results are discussed sufficiently and there is nothing that is not clear. The study uses quantitative measures to find answers to the research questions but an attempt has been made to present the results in a simple form. The use of non-technical language facilitates understanding of general public. The discussion section is also based on the findings of the research. Authors have not attempted to make assumptions and have stated the facts as it is. Limitations of the study are also given and this is a positive point of the study. Limitations help readers understand the extent of validity of the study. It also helps future studies that will be conducted on the subject. Research implications are also discussed is the article. Article also uses relevant sources in order to aid the understanding of the readers. Sources are used from a variety of places because two different countries are involved in the study. The Impact of Product Design on Supply Chain Risk: a Case Study Research Focus Supply chain management is becoming extremely important in today’s business world because firms are moving towards specialization. Firms are trying to cash in their core competence, and in the mean while are outsourcing other functions to specialized firms in hope of lowering costs and increasing efficiency. In such a business realm supply chain plays a major role in delivering value to the customer. The chances of errors have also increased because firms are dependent on other firms and cultural diversity may hinder productivity. This is why importance of supply chain management is immense in today’s business world. The focus of the research is on impact of product design on supply chain risk. The study is based on the fashion retail industry and clothing manufacturing industry. The risk of product design is considerable in fashion and garment industry because retailers are totally dependent on suppliers. Clothing is also not similar to technology products where specific specifications can be set on highly sophisticated machines. Garments are mostly manufactured by hand and design risk is significant when it comes to fashion clothing. This is why fashion retail industry is a very good choice for measuring impact of design on supply chain risk. Off-shoring is also prevalent in the fashion and garment industry because cost benefits it offers. Asian countries are a very good choice for off-shoring because they have a strong textile industry (Abernathy, Anthony, & Weil, 2005). Product design risk increase s when European firms place orders in Asian countries like China and Bangladesh. This is how research is relevant to the issues that are prevalent in the garment industry. The study also offers a framework for risk management with regards to product design risk. Other implications of supply chain risk are also discussed in the study. Illustration of Theoretical Concepts There are not many theoretical concepts discussed in the study. Product design, risk management, and supply chain risk are the concepts used in the study. These concepts are illustrated sufficiently in the research. General audience can also understand the dynamics of the study because it is written in an easy non technical language. There are no complex concepts discussed in the article. Product design and other concepts used in the study are defined for the research purpose. These definitions are also given after commenting on existing literature on the concepts and in this way they are justified. The writing structure of the study is also professional academic. This is a research article and primary data is collected. The study follows a case study method of research where focus is on one organization and longitudinal data is collected. This type of research has a narrow focus but there results are more objective and scientific in nature because many organization specific factors are either controlled or taken into account. The information about the organization is also given and all the small details are covered that may impact the risk management of product design. Presentation of Findings The findings of the study are presented in a systematic manner with little ambiguity. Sometimes results are given in a vague manner that is difficult to understand but this is not the case in this research. All elements of findings are given in great detail and all aspects are explained. A table is given highlighting the business risks of the case study organization. This aids the understanding of audiences with regards to the outcome of the research. Findings are also divided in headings which are also useful for the readers. This allows the readers to give specific attention to the different aspects of the research. A detailed risk management strategy is also given with regards to the product design of the case study organization. It is important for every research to have research implications so that readers can identify the merits of the study. Every research should help better deal with a problem and for that research implication is important. This study has clearly stated research implications for the readers. Guidelines for future research are also given and limitations are identified. Future research on the topic is important because this research only answers the topic narrowly. This is why research limitations are given and study is not over-rated with regards to the validity. Authors have stated that the research outcomes may not be exactly applicable for other studies. The use of references is also relevant and different journals are used as sources. Further readings are also given at the end of the study. Internal brand factors driving Successful Financial Services Brands Research Focus Brand image is very important in today’s world where communication technology has grown to a great extent. Any news about a firm cannot escape the eyes of media and this is why brand image becomes extremely important. The perception of people about a particular brand reflects on the sales of the product, and this is why many studies have been conducted on establishing brand image and brand equity. The success of branding strategies is quite visible in business world because we see that some products are sold at a higher price just because of their strong brand image. The purpose of the research in question is to identify internal factors that can that can contribute to financial services brand success and in turn can help enhance brand equity. Financial services have also developed with the advent of communication technology and therefore branding also applies to services sector. A customer creates certain perceptions that play a role in purchasing decisions. The research focuses on internal factors that contribute to those perceptions of customers regarding financial services. The focus of the research is to identify internal factors in the firm that can contribute to the successful branding strategy. For this purpose authors have conducted a qualitative analysis. Interviews have been used to collected data and employees of financial services were interviewed. The aim is to identify factors within a firm that can create a successful brand. Illustration of Theoretical Concepts Theoretical concepts are explained in great detail in the article. The research method is qualitative in nature therefore many themes were identified but authors have explained all the concepts with detail. Constructs are also clearly mentioned under separate headings which are facilitating the understanding of readers. Each construct identified in the research is explained through existing literature as well as through the interviews conducted. This has increased the objectivity of the research. The writing style of the article is simple but professional. There are terms used that general public may not understand but sufficient explanation of those terms is given. The article is adding value to the studies that have been conducted on the subject therefore professionally it is beneficial. On the other hand general public might also get useful insights regarding branding success and internal firm factors. The structure of the report is different from conventional studies. Introduction is given at first but literature review is not followed rather methodology follows introduction. The study is actually qualitative in nature therefore interview insights are given main focus. While discussing interview insights, authors have used existing literature to help facilitate the understanding of audience and at the same to enhance the credibility of the study. Presentation of Findings The findings are also presented in a professional manner with headings. The findings are a bit longer than usual because this is the first qualitative study we are commenting on. Previously all the studies were quantitative in nature therefore findings were presented on a few pages. But in this study findings constitute most of the article and this is because evaluating interviews takes time. Excerpts of interviews are used by the authors to explain the findings of the study. The study came up with many factors like holistic approach of branding, personalized customer service, and responsiveness to change that can affect the brand success and failure. The use of relevant references is a very strong point of the research. Authors have first given their findings from the interview and then have proved them from existing literature. This has made the study much more objective and worthwhile to read. There are so many different sources cited and all are adding to the value of the research. The Global Competitiveness Report 2011-2012 Research Focus The 20th century has seen an increasing trend of competition not only between firms but between countries. As mentioned before, firms are focusing on their core competences, and this has led to an increased inter-country competition. Products are also being made more competitive in order to reap maximum benefits. Innovation is playing a major role in increasing competitiveness of products and services. Ultimately customers are benefiting from this as they are getting better and improved products on a regular basis. The effect of competitiveness is also felt at a macroeconomic level because employment, foreign exchange, and economic growth are affected by the level of competitiveness of a country. The study in question is the global competiveness report for the year 2011-2012 by the World Economic Forum. In this report strategies are discussed that can play a role in enhancing competitiveness all over the world. The focus of the research is to present ideas that can help overcome hurdles in achieving competitiveness. The study is based on a country level research and national competitiveness is discussed. The study is aimed at helping countries develop a policy framework that can stimulate competiveness in their economy. The scope of the research is global and many factors are identified and taken into account before suggestions are made to the countries. The report talks about the pillars of country competiveness. It also explains the different levels or stages of development of countries with regards to competitiveness. The report also provides a comprehensive list of countries and the stage of competiveness they are currently in. This research done by the authors is extensive and many areas are covered comprehensively. A region by region analysis is also given and important economies of the regions are discussed. This shows that the research done by the authors is comprehensive and all necessary standards are met in the report. Illustration of Theoretical Concepts The theoretical concepts used in the report are explained to a great extent. All major terms used are defined and explained. The pillars of competiveness are used to clarify the basic concepts used in the report and then the ratings of economies are given. A reader can easily identify the link between the concepts and how they are applied. Stages of development are also given which facilitates the division of countries. The list of countries discussed is very long therefore divisions were important. All major countries are discussed sufficiently and best practices are highlighted. The style of the report is extremely professional as it is coming from an established authority. World Economic Forum is a renowned organization all over the world and this report seems to display the authority of the organization. The structure of the report is similar to the structures of global reports. Introduction is given and then the research is explained, although methodology is not discussed. The focus of the research is on presenting results. A comprehensive appendix is given that provides more insights about the topic. Country competitiveness is explained effectively and message of the report is forwarded to the public. The report is intended for the general audience therefore technical language is avoided. General terms are used and all technical terms are explained. Presentation of Findings The findings are presented in a user friendly manner and readers can easily understand the major findings. Country competitive rating is given in tabular form which is easy to read and understand. One can also identify the country of interest and see the ratings for competiveness. This is a big advantage of the report because the main purpose of a study is to forward its findings to the public. Tables also contain previous year ratings so that readers can compare the performance of countries. The top 10 countries are given focus to highlight the success factors in competiveness. But this does not meant that other countries are not discussed. All major economies are given enough focus. References are not used as they are used in conventional studies. Only a few references were used and even they were from previous studies. It is understandable because the report is based on a worldwide analysis therefore they have relied on their data only. Using other studies might have decreased the objectivity of the report because the scope of those studies might not have been as extensive as this report. Bibliography Abernathy, Volpe, & Weil. 2005. The Future of the Apparel and Textile Industries: Prospects and Choices for Public and Private Actors. Harvard Centre for Textile and Apparel Research Chatain, O. 2010. Value Creation, Competition, and Performance in Buyer-Supplier Relationship. Strategic Management Journal, 32: 76-102 Chernatony & Cottam. 2005. Internal brand factors driving successful financial services brands. European Journal of Marketing, 40(5/6): 611-633 Gielens & Dekimpe. 2007. The Entry Strategy of Retail Firms into Transition Economies. Journal of Marketing, 71:196–212 Johnson & Tellis. 2008. Drivers of Success for Market Entry into China and India. Journal of Marketing, 72: 1-13 Khan, Christopher, & Burnes. 2008. The impact of product design on supply chain risk: a case study. 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