Quantitative Methods for Business - Case Study Example

QUANTITATIVE METHODS FOR BUSINESS Name University Course Tutor Date Introduction Vippy transport has proposed to add two new minibus services in Sydney and one outside the local region of Sydney. The main purpose of the services is for groups of people to hire the buses for transportation to areas around and outside Sydney. The study will try to investigate which of the areas in Sydney and which areas outside of Sydney will provide the best location to start the business. It will try to identify the area that has a ready market for the services by identifying which of the regions hosts the greatest number of social events and shopping trips. Analysis methods The study will consider both quantitative and qualitative analysis to identify the best strategically placed the location where the minibusses can provide their services and provide the highest revenue collection. The qualitative analysis uses semi structured or unstructured flexible techniques that to provide a comprehensive view of the required outcomes. Some of the qualitative analysis used includes the interviews and group discussions. The qualitative analysis provides a non-statistical approach to acquiring evidence and results that are guided by the materials at hand. Qualitative analysis will be used to provide richness and precision in the data that is being collected. The quantitative analysis provides the organization with real data from predetermined samples that allow the decision-making the process to be made through data analysis. It is considered to be statistically reliable in generalizing results. The quantitative analysis will help to classify features, and construct complex models that will be used as a sample of the whole group. As the researcher takes a collection and analysis of the data, several procedures will be used to ensure that the data collected is credible and dependable. Data collected will be edited and coded. Data analysis will be done to analyze the coded and edited data. The data collected will be analyzed in terms of case analysis. This will be mainly for evaluating the relevant case studies from the respective companies. Case study analysis will be used to describe the company's management practices that will play a crucial role in delivering information that regards to the company’s operations and performance. Study area The study will be conducted in a total of six local government areas that have been selectively determined to identify which best provides the highest revenues when the minibus services are introduced into such areas. Three of the local government areas will be from Sydney while the other three will be local government areas that are outside of Sydney. The local government areas in Sydney will be the Municipal of Ashfield, the city of Campbell town in New South Wales and the North Sydney Council. The local government authority areas that are outside Sydney to be sampled are in Richmond-Tweed and include the city of Lismore, Richmond Valley Council and Kyogle Council. Target population When it comes to hiring services, it is most probable that the users of the services will be in groups and will likely not have personal means of travel. The target population for the service will be schools, business groups and the elderly in the local government area. The product for Vippy transport services will also target the tourists who are likely to visit the local government areas. Sampling procedures A sample is a miniature representation of the whole population. Given that the researcher has limited time, and the cost of research is high, sampling will be done to reduce the workload. When sampling, the researcher will be expected to determine the sampling frame that forms the classes from which the potential respondents are drawn. Sampling procedure refers to the techniques that will be used by the research to sample the data collected. Probability sampling will be done where any respondents in the sampling frame have an equal chance of being selected for the sample. Before probability sampling is done, stratified sampling will be used to help in classifying the population in different strata. The stratified population encompasses some different categories, organized into different frames termed as strata. Each of the identified strata will be sampled independently where individual elements will be selected from each stratum using probability sampling [Rob08] The population will be divided into strata based on the customers who are individuals residing in the local government areas and the employees of the organization. Proportionate representation from the sample will be arrived at by giving each stratum in the sample an equal fraction. Since each of the strata of the population is treated as independent, different sampling techniques could be used and applied to the different strata. Table builder databases A table Builder is an online tool that has been provided by the Australian Bureau of Statistics to provide users with information from the census that was carried out in 2006 and 2011. The database allows the users to select from a variety of topic-based data while doing their research on a given topic. There are two types of table builders that have been developed by the Australian Bureau of Statistics namely the table builder basic and the table builder pro. The basic table builder is a free product that provides users with access to most of the census topics from 2011. Among the variables contained in the table builder databases include cultural and language diversity, children and childcare, disability, carers and need for assistance, dwelling characteristics, education and qualifications, employment, income and unpaid work, family characteristics, household income and expenditure, persons and relationships, persons in private dwellings, persons in non-private dwellings and usual address and internal migration. One the other hand, the table builder Pro is a charged product that provides the users access to nearly all the variables from the 2011 census. The difference between the two is that the table builder pro allows for the importation of personal databases and systems providing the users with an opportunity to choose what they want to build. Among the variables that are available in the table builder database include counting dwellings, counting employed persons, place of enumeration, place of work, counting families, place of usual residence, counting persons, place of enumeration and counting persons, place of usual residence. The report only requires that the population of the six local government authorities be identified and determine which of the local authorities will best provide the organization with the opportunity to develop their business and have the biggest returns. Among the determinants of the decision-making process will be the geographical positioning of the city, the economic activities of the city and the competition that may be faced by the organizations. Zone one local government areas Age Ranges Number of Males Number of Females Census Night Usual Residents Census Night Usual Residents 0-4 years 3 305 3 177 2 984 2 889 5-9 years 1 790 1 651 1 745 1 590 10-14 years 1 693 1 379 1 675 1 358 15-19 years 3 494 2 753 3 843 3 050 20-24 years 11 942 10 099 13 091 11 046 25-29 years 17 151 15 410 16 348 14 876 30-34 years 14 841 13 456 12 641 11 527 35-39 years 10 852 9 600 8 215 7 321 40-44 years 8 751 7 262 6 111 5 117 45-49 years 7 159 5 778 5,098 4 108 50-54 years 6 314 4 869 4 795 3 782 55-59 years 5 125 3 939 4 467 3 565 60-64 years 4 459 3 576 3 614 2 960 65-69 years 2 989 2 479 2 452 2 067 70-74 years 1 901 1 649 1 850 1 603 75-79 years 1 343 1 208 1 313 1 184 80-84 years 872 797 994 934 85+ years 528 482 1 036 962 The age ranges are a determinant of the percentage usage of the bus services in the different local government authorities. The young and old require the bus services to go to school and fulfil their leisure activities respectively. The middle ages will require the bus services to travel to and from work daily. Dataset: Quarterly Population Estimates (ERP), by State/Territory, Sex and Age Age All ages Sex Persons Measure Estimated Resident Population Frequency Quarterly Time Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 State             New South Wales   7495361 7516632 7545203 7566395 7596554 Victoria   5817348 5838855 5865183 5885795 5914860 Queensland   4705567 4721231 4738980 4750396 4766702 South Australia   1682295 1685472 1688654 1691579 1696217 Western Australia   2551676 2560521 2569153 2576394 2587024 Tasmania   514653 514747 515045 515296 516111 Northern Territory   243325 244088 244378 243741 243826 Australian Capital Territory   384900 385363 386514 387514 389747 Australia   23398320 23470118 23556320 23620330 23714272 Dataset: Quarterly Population Estimates (ERP), by State/Territory, Sex and Age Age All ages Sex Persons Measure Estimated Resident Population Frequency Annually Time 2011 Sydney region LGA population   Municipal of Ashfield   41,214 City of Campbell town   145,967 North Sydney council   62,289 TOTALS 249, 470 Zone 2 local government areas Dataset: Quarterly Population Estimates (ERP), by State/Territory, Sex and Age Age All ages Sex Persons Measure Estimated Resident Population Frequency Annually Time 2011 Hunter region LGA population   city of Lismore   45,645 Richmond valley council   22,037 Kyogle council   9,824 TOTALS 77506 With about 50% of individuals using the bus services to their different destinations daily, the LGA with the highest population will provide the best destination for the bus services. In zone 1, the City of Campbell town will provide the best location for the services since about 73,000 individuals will use the bus services. In zone 2, the city of Lismore will provide the best strategic location. It has the highest population of 45,645 and when 50% use the services, and then Vippy services will enjoy a customer base of about 23,000 individuals. Special characteristics to support the argument The management of Vippy transport should also consider some variable factors within the city that could provide them with additional information for their decision-making process. City of Campbell town is served by good road links to other countries that will provide Vippy transport services with a great opportunity to build and establish they services in the city [Ple12]. The city of Campbell Town is also a major tourist attraction site as it hosts three major festivals annually. The first is the Festival of Fisher’s Ghost that is held annually and features ten days of family fun. The other festivals are the Riverfest festival and the Ingleburn Alive. In the three local government areas in Richmond_tweed, some activities may help increase the likelihood that the Vippy Transport services will enjoy more consumers and thus better revenue. Kyogle Council is a city that highly depends on farming. The individual income per week is averaged to be at $305 which is equal to approximately $15,904 per year. The economy of the city of Lismore highly depends on businesses to provide employment to the residents. Some of the businesses that have hired the highest number of people in the city include the clerical and administrative works, cafes, restaurants and takeaway, supermarkets and grocery stores and tertiary education. The median income for persons in the area is about $378 per week which is approximate $19,710 annually. Report on the sampling methodology The chapter entails various methodological approaches that will be used in the study. This encompasses the research design, data collection and analysis methods, ethical consideration, and research limitation. The research design is a framework that will be used to obtain the information that will assist in solving the research problem. The research will entail determining the organizational behavior and strategic management of the Vippy Transport services. This is to determine the business strategy to be adopted for the future sustainability of Vippy Transport services (Robert, Michael and R 2008). To effectively deliver the research objectives, a descriptive research will be used. Descriptive research is conclusive research design that helps to describe the characteristics of the variables being evaluated. They help to answer the research questions effectively. The research design is used for both qualitative and quantitative researches. The descriptive research design will help in determining the weaknesses and strength that are evident in the management of the Vippy Transport services. The process of research will entail using the selected research tools to collect information regarding the research objectives. Similarly, descriptive research design will help to bring out the key attributes in the management style adopted by Vippy Transport services. This will be done through hypothesis formulation where general methodology will be adopted. Main research tools will entail an empirical approach where key concepts will be linked to each other about research objectives. The concepts will revolve around management strategies and organizational behaviors. The concepts will be manipulated using various data analysis methods to evaluate the efficiency of the business strategies towards the future sustainability of Vippy Transport services. Data collection methods are determined by the type of data that needs to be collected [Mic08].The study adopts both primary data collection methods as well as secondary collection methods. The main primary data collection method that will be used entail semi-structured interviews. Semi-structured interviews provides a valid way of gaining key information form the respondent and on the same provides a room for the researcher to adopt a similar strategy in handling respondents. The interviews will be conducted on both company's management team and selected employees. On the same, observation method will serve as another method to collect information form the companies. This will entail observing the key behaviours adopted by both managers and employees. The information will be effective as will be first-hand information from the population under investigation. Secondary data collection method will be done through analysis of past records that are available from the magazines, reports, published journals of the company and the companies’ websites. The sources will be crucial as they will help in a collection published information about the companies. They will serve as backup information for data collected using primary sources. Information collected will be used with great integrity to prevent any misleading information about the companies' organizational behavior and management style. This may lead to legal actions. On the other hand, the information collected will be for academic performance as the information should be confidential as may influence the competitive power of the companies. All key factors necessary to be considered in academic research will be adhered to effectively to maintain a high integrity level in doing the research. The nature of the research does not enable the researcher to evaluate the whole company. This is due to the diverse sections of the companies and number of available respondents. This serves as a limitation as not all respondents are evaluated. The tools used to collect the data only provide information about a certain size of the population. Time and cost of doing the research will be another limiting factor. The research time will not fully efficient as the population size will be large. Similarly, the cost of doing research will increase with the increase of the population size. These two will limit the extent under which the research can extend its scope. Zone 2 analysis Age structure - five year age groups Kyogle Council - Total persons 2011 Five year age groups (years) Number Kyogle Council % 0 to 4 549 5.9 5 to 9 592 6.4 10 to 14 628 6.8 15 to 19 621 6.7 20 to 24 336 3.6 25 to 29 343 3.7 30 to 34 383 4.2 35 to 39 451 4.9 40 to 44 584 6.3 45 to 49 679 7.4 50 to 54 855 9.3 55 to 59 847 9.2 60 to 64 764 8.3 65 to 69 496 5.4 70 to 74 375 4.1 75 to 79 307 3.3 80 to 84 217 2.4 85 and over 200 2.2 Total people 9,227 100.0 Lismore City 2011 Ten year age groups (years) Number % New South Wales% 15 to 24 years 7,809 13.2 14.5 25 to 34 years 8,705 14.7 21.9 35 to 44 years 12,995 21.9 23.1 45 to 54 years 15,810 26.7 22.6 55 to 64 years 11,398 19.2 14.4 65 years and over 2,518 4.3 3.4 Total persons 59,235 100.0 100.0 Richmond Valley Council - Total persons 2011 Five year age groups (years) Number Richmond Valley Council % Australia % 0 to 4 1,486 6.7 6.6 5 to 9 1,491 6.8 6.3 10 to 14 1,608 7.3 6.4 15 to 19 1,457 6.6 6.5 20 to 24 1,029 4.7 6.7 25 to 29 939 4.3 7.0 30 to 34 1,058 4.8 6.8 35 to 39 1,233 5.6 7.1 40 to 44 1,274 5.8 7.1 45 to 49 1,501 6.8 7.0 50 to 54 1,562 7.1 6.7 55 to 59 1,591 7.2 6.0 60 to 64 1,478 6.7 5.6 65 to 69 1,261 5.7 4.3 70 to 74 1,017 4.6 3.3 75 to 79 842 3.8 2.6 80 to 84 641 2.9 2.1 85 and over 570 2.6 1.9 Total people 22,038 100.0 100.0 Occupation A high population of people who work in middle and low income earning jobs will provide an opportunity for the organization to enjoy high returns. The professionals have high returns and most of them drive or are driven in their own vehicles to and from work. The high population of city of Lismore, compared with the high percentage of middle and low income earning jobs employing the people will provide the best location for the minibus services. Zone 1 analysis Campbelltown City - Total persons 2011 Five year age groups (years) Number Campbelltown City % Australia % 0 to 4 10,892 7.5 6.6 5 to 9 10,325 7.1 6.3 10 to 14 10,793 7.4 6.4 15 to 19 11,580 7.9 6.5 20 to 24 10,990 7.5 6.7 25 to 29 10,821 7.4 7.0 30 to 34 9,859 6.8 6.8 35 to 39 9,699 6.6 7.1 40 to 44 9,402 6.4 7.1 45 to 49 10,106 6.9 7.0 50 to 54 10,331 7.1 6.7 55 to 59 9,424 6.5 6.0 60 to 64 8,151 5.6 5.6 65 to 69 5,096 3.5 4.3 70 to 74 3,280 2.2 3.3 75 to 79 2,230 1.5 2.6 80 to 84 1,624 1.1 2.1 85 and over 1,366 0.9 1.9 Total people 145,969 100.0 100.0 Occupation Ashfield Council - Total persons 2011 2006 Change Five year age groups (years) Number Ashfield Council % Australia % Number Ashfield Council % Australia % 2006 to 2011 0 to 4 2,400 5.8 6.6 2,210 5.6 6.4 +190 5 to 9 1,997 4.8 6.3 2,011 5.1 6.6 -14 10 to 14 1,818 4.4 6.4 1,908 4.8 6.9 -90 15 to 19 1,912 4.6 6.5 1,985 5.0 6.8 -73 20 to 24 3,192 7.7 6.7 3,044 7.7 6.7 +148 25 to 29 4,154 10.1 7.0 3,573 9.0 6.4 +581 30 to 34 3,705 9.0 6.8 3,610 9.1 7.1 +95 35 to 39 3,351 8.1 7.1 3,324 8.4 7.4 +27 40 to 44 3,002 7.3 7.1 3,289 8.3 7.4 -287 45 to 49 2,974 7.2 7.0 2,861 7.2 7.3 +113 50 to 54 2,625 6.4 6.7 2,455 6.2 6.6 +170 55 to 59 2,215 5.4 6.0 2,137 5.4 6.2 +78 60 to 64 1,921 4.7 5.6 1,503 3.8 4.8 +418 65 to 69 1,310 3.2 4.3 1,296 3.3 3.8 +14 70 to 74 1,223 3.0 3.3 1,304 3.3 3.1 -81 75 to 79 1,167 2.8 2.6 1,146 2.9 2.8 +21 80 to 84 1,013 2.5 2.1 901 2.3 2.1 +112 85 and over 1,235 3.0 1.9 1,113 2.8 1.6 +122 Total people 41,214 100.0 100.0 39,670 100.0 100.0 +1,544 Occupation North Sydney Council - Total persons 2011 Five year age groups (years) Number North Sydney Council % Australia % 0 to 4 3,354 5.4 6.6 5 to 9 2,021 3.2 6.3 10 to 14 1,559 2.5 6.4 15 to 19 1,697 2.7 6.5 20 to 24 3,644 5.9 6.7 25 to 29 8,135 13.1 7.0 30 to 34 8,434 13.5 6.8 35 to 39 6,607 10.6 7.1 40 to 44 4,753 7.6 7.1 45 to 49 3,777 6.1 7.0 50 to 54 3,620 5.8 6.7 55 to 59 3,374 5.4 6.0 60 to 64 3,505 5.6 5.6 65 to 69 2,699 4.3 4.3 70 to 74 1,815 2.9 3.3 75 to 79 1,267 2.0 2.6 80 to 84 958 1.5 2.1 85 and over 1,070 1.7 1.9 Total people 62,289 100.0 100.0 Occupation Comparing the occupation of individuals in Zone 1 against the total population will provide an insight of the best location for the minibus services. The highest population compared with the highest percentage of middle and low income earning individuals will be the best location for the services. The City of Campbell town will provide the best location as it has the highest population with about 65% of then being employed and earning middle and low incomes. Conclusion How the statistics provided support the argument Age and the occupation of the people in the different local government authorities is by far a means for determining the best location of the services by Vippy transport. The age distribution will be a critical factor since a large size of the elderly and young people is likely to attract more services than the middle class ages. The young ages need to be provided with transportation to their schools while the elderly usually take a lot of time enjoying their leisure. For this reason, they are likely to hire the bus services so that they can travel to different destinations. The means of transport that the individuals use to go to work daily is by far a great determinant of the likelihood of Vippy enjoy returns from their services. The information provided on the excel worksheet on the means of transport show that more than 300,000 individuals both male and female use the bus services to go to work daily. With such high usage of the services, it is possible for Vippy service to start a new location and get high returns. In the local government areas within Sydney, the Campbelltown City is likely to provide the best opportunity for the services provided by Vippy transport services as identified in the statistical graphs. This is because it has a high population of both the old and the young and the occupation of most individuals is that of the hotels and restaurant industry. For the local zone 2, the best strategically positioned location is the Richmond Valley Council since it has a high number of young and old citizens as well as having the greatest number in the cafe and restaurant industry. Recommendations A number of factors will determine the location of Vippy transport services in the locations identified. Majority of the factors identified to determine the location of the minibus services are internal factors. However, the external factors cannot also be neglected. While determining the locations, the following factors should also be considered. The security of the areas The rate of inflation and costs incurred by residents The availability of other close substitutes REFERENCES Rob08: , (Robert, Michael, & R, 2008), Ple12: , (Pleffer, 2012), Mic08: , (Micheal & Ott, 2008), Read More