characterize the external environment

Project – Phase 4 – Instructions – Fall 2019 Purpose: Phase 4 of your retail business venture project will build on the work done in…

Project
– Phase 4 – Instructions – Fall 2019

Purpose:

Phase 4 of your
retail business venture project will build on the work done in
previous phases. From the scope of research that remains to be done,
you will proceed with the Observations (Part 1) and
Questionnaires (Part 2). You will continue focusing on 2
areas: 1. characterize the external environment (PESTLE
– impact of the external environment on the business)
and 2. how the project MIGHT unfold, with an emphasis on the
marketing aspects of the business (4Ps, segmentation et al.).
Please remember, for the project, you are an external research team
(consultants) that is under contract to a potential investor. You
will also need to wrap-up the project by discussing what remains to
be achieved (Part 3), the quality of your research (Part 4) and your
learning experience (Part 5).

Structure:

A short
introduction will describe to the reader 1. the purpose
of Phase 4 and 2. the content of the report.

The body is
divided into 5 parts:

Part 1:
You will use the Observation tool to continue the search for
knowledge/answers in the 2 areas identified above. There will be a
minimum of 4 observations in 2 different types
of locations, each type having its own purposes. This part has 3
components:

What were
the purposes (i.e. questions to be answered or knowledge to be
acquired) for each type of observation?

How was
each type of observation done: structure and execution; clear
explanations required

Information
found, presented in a manner that allows the reader to grasp the
key points observed and their potential impact on your retail
venture.

Part 2:
You will use the Questionnaires tool to wrap up your primary
research. You will design one questionnaire aimed at your target
market (i.e. the segment of the population that will be your main
customers). There will be a minimum of 20 questions, using a minimum
of 3 types of questions and 8 different forms. A
minimum of 40 fully completed questionnaires (i.e. responses
collected). You will use the face-to-face method. You will explain
how you managed not to insert any biases in the selection process of
respondents (refer to the RIDE program in how police officers stop
drivers in a manner that clearly indicates that there was no biases
(i.e. all drivers are stopped or at a fix interval, e.g. 10 cars))
to meet the justice requirements of fairness). This part has 3
components:

2.1
What were the purposes (i.e. questions to be answered or knowledge
to be acquired)?

2.2 How was it done; structure and execution; with clear
explanations required on the design of the questionnaire. A copy of
your questionnaire needs to be attached in an appendix.

2.3 Information found, collected in a manner that allows the reader
to grasp the key points observed and their potential impact on your
retail venture. You will need to use a minimum of 5 different
graphics in the illustration of your data in addition to as many
tables as required. Your raw data needs to be attached in an appendix
in a manner that will allow the reader to consult it.

Part 3:
You will identify and discuss the questions or the body of knowledge
that remains to be answered after having completed your secondary
and primary research. You will explain why you were not able achieve
these. This part aims to have you reflect on the level of knowledge
you now possess, and the shortcomings in regards to understanding
your external environment (PESTLE analysis), and your potential
customers and how to approach them (segmentation and 4Ps).

Part 4:
Reflecting on your project, you
will characterise the relevancy and the quality of the processes you
have used, and the information gathered by addressing the following
points:

Discuss
the confidence and reliability of the tools used, including
understanding the effectiveness of the process used in answering
your questions or acquiring the body of knowledge needed

Discuss
the reliability and quality of the information gathered, identify
areas where the information is strong or weak, providing an
explanation (relevancy and sufficiency)

This
section will be challenging for you as it entails that you do a
critical review and analysis of the methods, processes, steps
taken, quality, etc. used to obtain the information found in Phases
2, 3 and 4. This is a segment of the project that should be done as
a group at the end of the project, as you are required to review
what you have done during the 3 latest phases. One person might
write this part, but it needs to be the combination of everyone’s
written contribution. To facilitate this process, each team member
who did research ought to have taken notes when doing it. These
notes can then be used to complete this section.

Part 5:
In regards to this project as a whole, what would you change in the
way you have managed the project and how you proceeded in doing your
research to support your retail business venture. Be candid with
your comments. Honesty and critical sense are highly respected in
any work environment.

A short
conclusion will present what you want the reader to remember.

A
bibliographical reference sheet, if required, for any secondary
research done in support of your primary research (on a separate
sheet). Not included in the word count.

Appendices as
required. Not included in the word count.

The document
needs to follow the APA format: https://apa.conestogac.on.ca/.
Refer to slide in the PPPs.

I suggest
your report be visually structured (i.e. section headings and
subheadings if required), and might include other tools (picture,
illustration, table, graph, etc.). Make your reports interesting and
appealing to read.

If you elect
to divide the work between the team members, you need to ensure that
the report is harmonized. This implies that you will need to
coordinate your team work from early on and frequently. Part 5 needs
to be done as a group exercise Also, please remember what Winston
Churchill wrote at the end of a 5-page letter to a friend: Sorry
for the long letter as I did not have the time to write a shorter
one. It is all about added-value.

Reports:

Phase 4
report is to be presented in the binder, and placed after the fourth
separator.

There is no
need for a table of content. Write at the top of the first page the
following: Phase 4 – Your retail sector – Section no.

After the
conclusion, at the bottom of the page, write the following: names
and student numbers, date and the number of words. You are limited
to 5,000 words for the introduction, the body and the conclusion.

The report
will need to be filed in Turn-it-in by 1 student before it is
handed in.

Marking:

Phase 4 is
worth 45% of the overall project mark.

The marking
will be based on the rubric provided in eConestoga.

You are asked
to apply and demonstrate your understanding of the tools and methods
taught in the course. To achieve this point, you must read the
textbook and study the PowerPoint presentations. If you do not, you
are exposed to not meeting my expectations.

Please note
that the content (relevant and sufficient), and the format
are key elements of the marking structure.

Please
remember that facts are powerful, while opinions are a reflect of
who you are. At this time, based on your limited knowledge and
experience, your opinion does not count for much yet. Time will add
weight to your opinion.

Milestones:

Phase 4
report will be handed in the binder at the beginning (<5 min.) of
Lec. 12 (week 13).

For further details,
refer to the Project Instructions document in eConestoga, to the
feedback provided in your Phase 1, 2 and 3 reports and in the
PowerPoint presentations, and to the textbook.

If you have any
questions, do not hesitate to contact me at my Conestoga e-mail
[email protected]
Do not use eConestoga e-mail.

JPB.191029
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