BENEFITS OF INDUSTRIAL COMPETIVENESS IN A COMPANY 12
BENEFITS OF INDUSTRIAL COMPETIVENESS IN A COMPANY
The Challenge to Be Addressed
Industrial competition is a major drawback in the companies that produce the various products mostly the services, for instance, the cameras and the drones create a big gap between the quality and the quantity. Major companies decided to address the quantity issues and attract more customers neglecting the fact that quality too did matter for their consumers. Most of them went out of business as a result of the same due to the improvements in the technology and the advanced education offered in the learning institutions as those that tend to adjust slowly to the changing environs are thrown off the market and new companies emerge offering even better services and the products (Veleva and Neely, 2015). Competition may either be healthy or unhealthy. The healthy competition would contribute positively to the outcomes (profits) of the companies and the customer satisfaction as it would result to the improvements of the products quality too which intern attracts more and more customers while the unhealthy competitions tend to result to the death of other companies as they result to the production of the poor quality products low prices and intern losses, in the long run, resulting to their foreclosure bringing about unemployment and a poor society.
Public relations, on the other hand, contributes largely to the successes of the business but in most cases is sidelined by the companies. They mostly forget that it is the one that outlines the relationship between the company and its consumers together with the relationship between the management and the workforce. In my case study, I decided to study the go-pro karma and their struggle to be in business and to defeat their competitors.
Public relations holds an end of the consumer company triangle that involves the communication which is passing the message about a product to the consumer and the other end is the advertising. This involves the direct sale of the services and the products offered to the clients or the consumers. Public relations joins these two parts at the top to form the consumer company relations triangle that ensures the smooth running of the day to day operations. (Motion, 2017)
Competition held a lot back from the go pro company and although nick woodland its CEO had a unique perspective about it “that in the go pro they did not consider competition rather they were focused on the vision and the mission of the company”.
Blind competition and overconfidence in the plans and visions of making profits bring most companies down to their knees and they end up counting more loses than they had ever anticipated (Veleva and Neely, 2015). Their relations with their customer’s counts a lot not just with the advertisements and customer satisfaction, physical interactions and basic promotions also counts in their books and earns the companies major add-on.
The strategy for conducting the research.
The research was conducted through the analysis of the interviews and the study of the journal questions as well as the research on the internet and the administration of various questionnaires using both the open and the close-ended questions so as to be able to reach down to the clients and some of the investors.
When clearly kept under considerations the competition and the public consumer relations would then help in improving the sales position and additional profits.
The Main Sources of Data
The data sources are largely categorized into two the primary sources that are collected directly from the clients, the company employees that is the case study through either the administration of the questionnaires or the interviews and then there are the secondary sources that do not involve the direct confrontation between the case study and the researcher themselves either through the books or the written journals too and also the documentaries.
I chose to use the secondary source and application of also some of the primary sources of data due to their availability, they were readily available and also they were cost-effective and easily acquired. Also because they included research from other researchers and could easily be compared with the rest, also they were easy to collect as they would be answered voluntarily by the customers and the investors of some of the companies and the main one the go pro company. The main secondary sources of data would include the internet and the documented journals concerning the various companies and the ways in which the unhealthy competition broke them down (Chen, and Chen, 2018). Also through the documented interviews of nick woodland the CEO of go pro company on the YouTube channel.
During this collection, I ensured that I listened and analyzed both sides of the story to ensure that I was not biased in my research. I also observed the integrity of the clients and ensured not to unveil quite personal questions. The questionnaire was well, carefully and written in an organized manner so that it did not offend the answerers in any way at all.
Methodology (Strategy) the Research Design
Before conducting a research proposal or project one is required to search or find the best method to conduct the research so as to acquire the best and most eligible data and find the best ways to analyze and present their findings hence the research design “A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure.” (Kothari, 2007). There are various methodology styles raised forward based on the sources of data, the aims a researcher has and also the kind of data one wishes to obtain and the methods of representing them after they are analyzed all these are different factors that determine what design we ought to approach. They are broadly categorized into three, the exploratory research, the descriptive and diagnostic studies and hypothesis testing research studies.
For my research I decided to approach the case study method (design) it involves the study of a particular research problem and not just studying various statistical inquiries. They are used mostly to narrow down a huge list of researchable fields into particular small ones. They may also use to study a particular theory and proving whether they apply to specific phenomena’s or rather they are for most phenomena’s. With this method, it would also indicate the source of the data and the various means that they came by. My main sources of data were the secondary sources starting with the listed and the documented sources like the written journals and through the documentaries made from the interview with the CEO of go pro company. The case study method of research would help in extending the knowledge that was known obtained from the previous studies conducted.
I also employed a bit of the casual design which is mostly used for understanding the phenomena’s in their conditional statements the relationship between two variables at hand. The design-assist researchers in understanding why the world did wok and the relations it creates with the rest of the human beings. With the help of the design, I would be able to compare how the public relations and the success of the business worked and also the relations that different companies have in respect to competition and why others failed when it was too tough to try.
The dependent and the Independent Variables
In a research study there usually is a dependent (those that whatever the outcomes coming from the manipulation of the independent variable affect them in one way or the other) and the independent variable (the standalone the ones that are not affected by other variables in any way). In these research, the dependent Variables were the profits while the independent variables were the competition and the public relations (Kang, Lee, and Kim, 2015). When the companies engaged in healthy completion that is they help each other in the production of the different sources, for instance, one produces the software’s while the others dealt with the hardware’s then they would be complementing each other while engaging in the healthy competition as they produce good quality products. And as they dealt in their day to day functions then they would involve their customers and their investors more often too not just in the advertisements and the marketing then their profits would largely increase in a great way.
The challenges that apprehend us as we plan, research and even draw conclusions from the data collected can never be done away with but we have find the various ways in which to overcome them and even find the right outcomes, choosing the best methods to analyze the data and also the ways to display the outcomes of the data including whom to research and why them. During the conduction of the research, I encountered various challenges that made it somewhat difficult to conduct the research but I was able to attain ways to overcome them and still acquire the outcomes. Some of the challenges included:
The Selection of the Right Topic
Even before a research is conducted there has to be a topic and the means and reasons surrounding the choosing of the topic. One has to answer the major questions surrounding the decisions that you make at the end of the day. For instance, why do u prefer the sound of that topic? Whom will you research? Why did you choose them? How does the topic affect the current growth and progress of the day to day business? What are the sources of data that you are going to use? During the preparation and the planning of my project, I had to analyze the facts and understand the different aspects that were laid down in the student assessment while from them choose the best one that did fit my research and the line of my thoughts. I decided to go with the industrial competition and the public relations, I answered the various questions like why in that I aimed at educating and providing the understanding of how the different companies would help and invoke some healthy competition among them while practicing the public relation to helping in the improvement of the profit-making. The how question by through the competition it has led to the death of the various companies and losses of potential customers as well as the investors, whom and why? I settled for the go pro camera company as they were struggling for their survival in the industry, the sources were the secondary sources of data as they were readily available and easily sourced.
Choosing the Right Methodology
Once the topic has been acquired then the way to conduct the research and the methods to be used have to be analyzed too for one to acquire the best data and easy representation too. A methodology is not just chosen but rather planned for and the various factors analyzed too so as to produce the best methodology to conduct the studies. Before I choose the methodology to use in this research I had to answer some questions to help with the critical decision. They include: what would be the purpose of the study? Where did the problem lie? And through the answer to these questions then they would help in resulting in the best design to conduct the research. From them, I had to explore, generate and understand which landed to a quantitative research at hand and in the end, come up with the best design. From there I ended up questioning on how I would analyze the data’s that are presented and the outcomes that I would attain. This also assisted in understanding the method of data collection that I would use. Would the design allow the pilot study or not.
During the interviews, administration of the questionnaires and also the written journals most of the participants tend to be biased and favor their opinion trying so hard to prove that the other party is wrong and must be made to view the other person perspective. Especially in the use of the secondary sources for the data collection they are mostly written based on one side of the story. For instance, the go pros CEO during his interview with the Bloomberg was quite positive about the company and never gave the negative and some of the faults of the company. He also noted that they were not concentrated on the competitors but only on their vision and the mission but in the end. Finding the story and source of data that is not biased is quite tricky
Format of Data
At times the kind of data presented in the secondary sources is normally twisted and changed into different formats that are not suitable for my research. And the way some of the samples answered a questionnaire would prove to make it useless in the research itself so it required that they are carefully analyzed again to ensure that they are fir and prove to be helpful.
The Quality of Data
Most of the times the times the primary method of data collection is the most preferred one as it provides more accurate data and it is normally first hand and not manipulated a lot. The secondary data sources are sometimes manipulated a lot until they deviate from the original version of the required document. During this research, the determination of the original data from the ones that are not valid was quite challenging and those that would help in the research the ones that have not been fully manipulated to alternate the story them.
The Results and Findings.
The Pilot Study
This part of the research is normally conducted so as to test whether the source of information is valid and if it would help in the research. Normally conducted before the actual research is carried out. A short questionnaire is written and supplied to the intended people whom would answer the questions as presented to them they just contain a few questions so as to prove whether the questionnaire would be useful in the research itself.
This is the process of gathering and measuring information on variables of interest in a systematic fashion that enables one to answer stated research questions, hypothesis testing and evaluate the outcomes. The data was collected from the secondary sources through the art of listening out the interview and documenting the important bits as analyzed after their collection. There was also the use of the questionnaires to collect the information from the clients in a more convenient way and also through the various reviews that they do leave after their purchase of the various products.