Conclusion on Approach 1,000 to 2,000 words

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Sverjbex1234

Business Finance

Description

    • Week 4: New Content (Discussion and Conclusion on Approach)
      • Identify conclusions from the results.
      • Discuss how successful the solution will be in resolving the issue.
      • Review your previous weeks and make any necessary adjustments to your work.
      • Review APA style.
  • Be sure to update your table of contents before submission.
  • Name the document "yourname_MGMT659_IP4.doc."

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Explanation & Answer

Hello, Find attached the assignment. Regards, Charlotte

RUNNING HEAD: Incompetency In the Market.

Impacts of a firm’s incompetency in the Market.
Management Capstone
Name of the instructor
Date:
Name of student:

Incompetency In the Market

2

Table of Contents
Impacts of a Firm’s Incompetency in the Market. ........................................................................................ 3
Problem analysis ........................................................................................................................................... 3
Problem identification ................................................................................................................................... 3
Prepare a statement to be resolved. ............................................................................................................... 4
Impacts of incompetency in the market ........................................................................................................ 4
Identifying the consequences if the issues are not resolved .......................................................................... 5
How to conduct the research ......................................................................................................................... 6
Problem Impact and Findings from Research (Week 2) ............................................................................... 7
Data Research and Data Analysis Methods (Week 3) ................................................................................ 12
Data collection ....................................................................................................................................... 12
Identification of the data needed. .................................................................................................... 12
Identification of the data collection process.................................................................................... 13
Analysis of the data ............................................................................................................................... 14
Research analysis methods ................................................................................................................... 15
Discuss analysis of measurement results. ........................................................................................ 15
Discuss the findings of the measurable results ............................................................................... 16
Discussion and Conclusion on Approach (Week 4) ................................................................................... 17
Identify the conclusions from the results ............................................................................................ 17
Recommendations ................................................................................................................................. 18
Discuss how successful the solution will be in resolving the issue..................................................... 20
Compilation of Findings, Conclusions and Recommendations (Week 5) .................................................. 21
References ................................................................................................................................................... 21

Incompetency In the Market

3

Impacts of a Firm’s Incompetency in the Market.

Problem analysis
This might be defined as doing an autopsy to a problem in order to unearth the root cause of the
avenues that led to the emergence of the problem. In any organization, problems can emanate
from different ends, including technical, location, procedural, people among others. Problem
analysis is a carefully though process that should include all the parameters. (Shoket, 2014) The
researcher should have interest, be competent and have the resources that would help them do a
root cayuse analysis. There are some other parameters that should be considered during a
problem autopsy. This includes the importance and urgency of the said concern. Resources and
time are limited hence priorities should be well placed. This boils down to the feasibility of the
research. If the research is deemed not to be feasible, then it is better to focus on other areas.
Lastly, the personnel involved in the research should be enough and so are the facilities that are
to be used.

Problem identification
Of late, the firm has had episodes where employees are resigning while the financial base is
greatly on the nose dive. This has been attributed to major shifts in the market occasioned by
change of tactics and advancement in technology. Most of our initial clients have diverted and
have decided to find refuge somewhere else. This can be seen as incompetence from the side of
the firm. Clients are the biggest assets of any organization without which hardly any firm can be
operational. Therefore, such issues ought to be quickly resolved before the firms plunges into an
irreversible economic abyss.

Incompetency In the Market

4
Prepare a statement to be resolved.

With the aforementioned problem identification, it is crystal clear that the firm has to invest more
in technology, capacity building among others to become relevant once again in the market.
With such an occurrence, the company has got myriad options, closing it down not being one of
them. To remain relevant in the market, the firm has to come up with different ways of;


Continuous capacity building



Hiring skilled workforce



Motivating the employees.



Purchase of new survey and mapping equipment
Impacts of incompetency in the market

Incompetency is one of the major reasons that will drive one completely out of the market.
Surveys show that firms in this market are growing in double digits and each is trying to develop
avenues in which they can easily attract customers. Mapping is revolutionary, and the archaic
methods of doing surveying and mapping are becoming obsolete. Most of these methods or
equipment that used in the aforementioned take a lot of time hence becoming expensive as
compared to modern equipment whose operation time is greatly reduced with even more desired
results. If the pertinent issues with regards to modern equipment are not resolved, other
companies in the market will continue having an edge over the firm and it will reach a point
where the company’s sustainability will be an issue.
On the same note, employees will also leave the company to go and seek a more challenging
venture that would enable them grow more in their ...


Anonymous
Excellent resource! Really helped me get the gist of things.

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