Viable Topic Assessment And Information Source Evaluation - Research Paper Example

VIABLE RESEARCH TOPIC ASSESSMENT of List of topics A. Business plan for Payday Loan Services to convenience stores.B. War: A fuel to worldwide economic crisis.C. Marketing vs. e-marketing: Which is more effective and efficient in the world today?2. TopicsCriteria for a viable research topicABCTopic characteristics10761. Topic is related to a business function (Required).7442. I have a passion about this topic (e.g., I will not tire of the topic).9883. As a result of self-directed research, I will be able to expand (enhance) my knowledge/skills related to this topic.9864. In-depth knowledge of this topic is of value to me and may be valued by present/future employer(s).

Literature related to topic8855 was available, but generally, related to the topic (be careful on this criteria—large quantities of material related to the topic may indicate that the topic is too broad).101096. was available specific to the topic (large quantities of material specific to your topic may indicate the topic has been well researched and is of great interest to organizations; however, few current information sources may indicate an emerging interest in your topic, or may indicate a lack of interest to organizations and researchers).10527. was available in professional journals (refereed, peer reviewed).10438. was available on websites sponsored by professional organizations.9219. presented a balanced, unbiased view of the topic (both pros and cons).

105510 was sufficient in quantities to indicate that the topic has been researched by professionals, is of interest to organizations, and will support the Literature Review section of my Research Proposal.926149Total PointsTopic Selected: (A) Business plan for Payday Loan Services to convenience stores Approach selected: (Business plan)I will approach my Research Proposal as a business plan of Payday Loan services to convenience stores, this are institutions providing credit services among other business functions.

This topic is of great value as most people run out of cash from time to time during shopping; from the business point of view they are considered as potential target customers for the business (Miller, 2012). The business plan shall focus on the essential areas that make up a good and successful startup business. This information can be of great importance to the student thus useful for future endeavors. There are enough resources that will help during development of such a plan (Brooks & Dunn., 2009). With some guidance from other people the information can be helpful to present and future employers for reference, the same information can be obtained from libraries and other government resource centers online.

With substantial information one is able to understand how to write a business plan of a professional standard, by knowing the common elements of business plans. With a number of samples at hand one is enabled to write a professional plan (Harold & Heinz, 2008).The plan shall include the business structure of the company both in size and complexity. It shall also focus on the sources of funding for the business, the company description that is for this case it shall be lending institution that will more different from the banks, that is faster services and cheaper to the customers in terms of interest charges (Ireland, Hitt, & Hoskisson, 2009).

The plan shall include the rules governing the services, the ways to earn income and also the procedures of hiring employees to the company. Licensing and other legal guidelines in the industry as set by the government shall be also an essential component of business plan (Braswell, R.McCarthy, & McCarthy, 2012).The main benefits of the payday loan services to customers is to save time used to process loans in banks, save money through the reduced charges and interests, save the credit as it serves as temporary loan service, one is has the power to by all the items they need with the little money they have and lastly it enables the customer to get money by not necessarily asking around for friends’ help (Feldman, 2011).

Other benefits can be creation of employment to the people who will be serving the customers. The challenges for the business shall be the competition from other already established similar businesses and banks which might be offering more services (Ireland, Hitt, & Hoskisson, 2009). Marketing strategies and ways to earn trust and confidence from both the customers and the stores shall be included in the business plan. Services to be offered and products of the company shall be well defined in the plan with all the legal and practical guidelines of operation.

The budget and sources of financing the services of the business shall be well defined in the business plan to avoid lack of funds in case the other sources fail (Blanchard, 2010). The location of the services and mode of operation shall be well defined and inclusion of an online platform for the services shall increase the consumer market shares alongside saving the commuter cost for those using credit cards and other similar online platforms such as Skrill and Paypal (OLeary, 2002) (Schneider, 2011).

Lastly, one should prepare a good transition procedure for closure or transfer of a business from one owner to another. This is essential and it is a legal recommendation. It also stated ways in which a business’s structure should be changed and as well on how to file bankruptcy of the business (Aswathappa, 2007).Bibliography1. Aswathappa, K. (2007). Human Resource and Personnel Management. New Delhi: Tata McGraw-Hill Education.2. Blanchard, D. (2010). Supply Chain Management Best Practices.

New Jersey: John Wiley & Sons.3. Braswell, M. C., R.McCarthy, B., & McCarthy, B. J. (2012). Justice, Crime and Ethics. Burlington: Elsevier Inc.4. Brooks, L. J., & Dunn., P. (2009). Business & Professional Ethics: For Directors, Executives & Accountants. Ohio: South-Western, Cengage Learning.5. Feldman, R. S. (2011). Understanding Psychology. New York: McGraw-Hill.6. Harold, K., & Heinz, W. (2008). Essentials Of Management. New Delhi: Tata McGraw-Hill Education.7. Ireland, R. D., Hitt, M. A., & Hoskisson, R. E. (2009).

Understanding Business Strategy: Concepts and Cases. New York: South Western;Cengage Learning.8. Miller, R. L. (2012). Economics Today (16th ed.). Boston, USA: Pearson Education, Inc.9. OLeary, D. E. (2002). Enterprise Resource Planning Systems: Systems, Life Cycle, Electronic commerce and risk. New York: Cambridge University Press.10. Schneider, G. P. (2011). ELECTRONIC COMMERCE (ninth ed.). Boston, USA: Cengage Learning.