Introduction to Cleaning Company
This report has been initiated for understanding the various problems that a cleaning company is undergoing with respect to their business portfolio. In this present research understanding has been formulated concerning research specifications (North and Macal, 2007). Even discussion has been carried out concerning resources that will be required for carrying out the present report. Finally, research will be drawing out reflective statement and research proposal.
Task 1: Understand How To Formulate A Research Specification
1.1 Provide a short profile of the consulting client and identify and explain the research problem.
Consulting client is a Curiosity consultants Ltd. It is a company that initiate research and consultancy services to SMEs and micro-businesses carrying out their operation in London (Hoffmann, 2007). They have identified research problem that is undergone by a cleaning company with respect to their business portfolio. It has been observed that business is not able to manage their portfolio with respect to their investments, holdings, products, businesses and brands in an effective manner (Varadarajan, DeFanti and Busch, 2006).
1.2 Explain how research might benefit the client
Research activities initiated by Curiosity consultants Ltd will be helping out cleaning company in managing their business portfolio in a most appropriate manner (Gelderman and Semeijn, 2006). Proper study carried out by the consultancy will help in exploring different aspect that can be initiated by cleaning business in managing various aspects of their operations. Benefits that organization will be looking after will be concerning the investment that cleaning company must initiate for managing their funds in an appropriate manner (Pulkkinen, Naumenko and Luostarinen, 2007). Further, research will also help in the management of different aspects such as their products, brands and their holdings in a most appropriate manner.
1.3 Outline the preliminary aims, objectives and scope of the proposed research
Aim of the study
The main aim of this research was to understand the issues faced by cleaning company with respect to their business portfolio.
Objectives of the study
- To study various factors affecting the business portfolio of the organization.
- To understand different aspects that can be initiated by cleaning company for managing their business portfolio.
- To recommend appropriate strategies that can be adopted for proper management of organization portfolio.
Scope of the proposed research
This research has been carried out for providing appropriate suggestions to cleaning company in managing out their business portfolio (Levine, 2007). It will help the organization in formulating appropriate strategies in the management of their portfolio. This will help business in carrying out their functioning in a most suitable manner for achieving long term goals and objectives of the enterprise (Reinartz and et.al., 2005). The present study is also going to contribute towards the existing literature that has been provided by other researcher and scholars with respect to the similar subject that is researched upon. The base of this study will be helpful for other researcher and scholars in developing their future study concerning business portfolio management (Nagji and Tuff, 2012). Present study will also help in developing a strong theoretical knowledge in the field of research.
TASK 2: RESOURCES
2.1: Research and identify key literature sources to address the problem identified in Task 1.
Ritter, Wilkinson and Johnston, (2004) discussed that from many years it has been observed that research and management has laid down their focus towards understanding of business relation and networks. However, in recent it has been seen that this focus is gradually shifting towards management of business relationship and networks. Author in this respect lays down two questions as their new approach. First question concerns that networks are loosely coupled systems and to what extent such networks are manageable? Secondly, how ability of an organization can be helpful in managing the network with respect to their characteristic and measurement? These were the major questions that formed to be the objectives for synthesizing current state of knowledge on management issues in networks and its contribution to managerial abilities in complex relationships. They have initiated a discussion that has led to the propositions in describing firms abilities for managing organization complex networks (Ritter, Wilkinson and Johnston, 2004).
Costanza and et.al., (2000) argues that there are no set of issues that can tend to separate economists and ecologists. This majorly concerns in the mind of the public. It majorly concerns about the surroundings that creates a link between economic growth, human carrying capacity, and the environment. Author further states that it has been seen that there is a general lack of interest among the majority of economists with respect to the problems of the environment. Even it is observed that there is parallel lack of interest seen majorly among the majority of ecologists concerning economic issues (Costanza and et.al., 2000).
O’Sullivan, (2002) argues that successful adoption of business practice is said to be one of the traditional characteristics concerning operational activities of an enterprise. It has been that analyst keeps a close concern towards how successful organization behave and operate. Further, author states that process of managing development is seen to be an important aspect for the success of any organization. Here, decisions of the management is entirely informed by appropriate and timely information. In an organization management of development information are majorly concerned towards customer requirements, business strategies, development projects and idea generation which are said to be the central aspects in achieving greater growth in operations of business. Author in their study tried to develop an information architecture and associated toolset, so that they are able to understand and manage their process development. They further discuss that their research has created a groupware application that focuses on distinct areas such as strategic planning, performance measurement, enterprise modelling, project portfolio management and team management. Author further suggests that groupware helps in the communicating core development information that management can initiate for informed decision-making. It even brings out people responsible for development in the organization closer together
2.2: Draft a research list with a sentence justifying the choice of resource
For accessing the reliable sources from where appropriate data can be collected with respect to the present study various databases has been accessed by the researcher (Osterwalder, Pigneur and Tucci, 2005). For collecting information various database accessed by the researcher were as follows:
- Sun direct
- Taylor and Francis
These sources were accessed by the researcher as it is database detailed above are considered to be reliable in terms of data that is provided within it. Researcher has made use of this database for collecting data for the present study as it has detailed authenticated information to be used for the research (Maizlish and Handler, 2010). These sources were properly used by researcher as it has helped in providing the most important that can be used for achieving the objection of the present study.
2.3: Explain how potential limiting factors and scarce resources might impact upon achieving the output of the Gantt chart
Limitations that researcher has undergone with respect to present study was majorly concerning the time and budget in which the research project must have been completed. While carrying out a research project the most important aspect that need to be taken into consideration is with respect to the time in which the study must be completed (Lutchen, 2011). But it has been observed that in the present research majority of the time that researcher has laid down was on collection of appropriate data from different sources that best suits the requirements of the present research. For accessing appropriate data it is even important that researcher need to have proper budget, so that they are able to access database that can help in collecting appropriate information (Rosemann, 2010). For collecting reliable and authenticated data huge cost need to be incurred as such database do not provide information free of cost. Hence, for accessing such an information it is important to have some sought of financial soundness. These were the important limitation that were seen to be incurring in present research. Further, it can be detailed that it is important to access proper information otherwise it will become very difficult for the researcher for building up strong theoretical background for the present study (Ritter, Wilkinson and Johnston, 2004). While carrying out a study it is even important to have quality data that can be accessed from different sources for enhancing overall effectiveness of the study.
TASK 3: REFLECTIVE ESSAY
While carrying out the present study it has been seen that there were many transferable skills developed within myself. In this data collection from different sources was the most important aspect learned by me while collecting information from various databases. Various data has been accessed concerning different factors affecting the business portfolio of the organization and understood different aspects that can be initiated by cleaning company for managing their business portfolio. Such collection of secondary data has been carried out by accessing different books, journals and online websites. At the beginning stage of the research I presumed that study will be overwhelming to me. In the process literature selection I came across different theories and models that has been proposed by different authors and scholars with respect to management of business portfolio with an enterprise. Carrying out this aspect has helped in developing a clear understanding with respect to the subject that has been carried out under the present research. This aspect even helped me out in developing a strong theoretical background for the research. Even learning has been developed with respect to qualitative analysis that has been initiated with respect to information that has been carried out concerning data collected from secondary sources. Looking after the analysis aspect it can be said that it is important to frame effective research methodology for achieving appropriate objectives for the research. For achieving aspects relating to research methodology various techniques have been undergone such as research philosophies, approach, design, sampling techniques etc.
Study completion has made me learned aspects that are relating to critical and analytical skills. For analyzing secondary information thematic analysis has been carried out for developing appropriate themes that can be used for drawing out appropriate findings for the research. Carrying out this analysis process has detailed me that there is a need of strong critical analysis skills for achieving the objectives in an appropriate manner. Proper qualitative analysis and interpretation has helped me in drawing out appropriate conclusion and recommendations for the present research.
There were many developments which I observed that will be helping me out and has contributed towards my overall development in skills. There were many aspects which has led to develop my learning while carrying out this present research. I even realized for achieving the objectives of the research, it is very important for laying down strong commitment and focus towards the aim of the study. In the beginning of this study I found that carrying out research will be straightforward for me. But later it has been seen that I was not able to manage my time in an effective manner with the time of my routine life. For managing my work I used to carry out proper planning in the beginning of each week, so that research activities can be initiated appropriately. This method has helped in achieving the goals of my research in a most systematic manner. I have also learned aspect that is important while undergoing a specific research subject. Even there were some sought of personal learning which were self-disciplined, organized and better at time management. Carrying out these aspects in my routine life will be helping me out in my future development and for my employment purpose.
TASK 4: RESEARCH PROPOSAL
1.1 Introductory background
In past few years portfolio management concept has taken greater heights for a way in which business investments are managed within an organization. It has been seen that management of the organization have very limited resources that they need to appropriate in an effective manner so that they are able to manage their resources in a most suitable manner (Costanza and et.al., 2000). Proper management of portfolio will help business in maximizing their overall value that in turn will help organization in achieving the objectives in a most suitable manner. In order to carry out portfolio management process there are various requirements that need to be fulfilled which concerns selection, prioritization, authorization and managing total functionality of the business and even helps in the management of different departments (O’Sullivan, 2002). It even helps in drawing out the baseline that can be used by subsequently for measuring out how well organization is managing their portfolio for meeting out various needs of a department. It has been observed that financial portfolio management do not lay down their focus on cost. Here, major assumption that has been made concerns expenditures that I turn results towards purchase of an asset in the form of stocks, bonds, etc. or a service in the form of trading fee, investment advice, etc (O’Sullivan, 2002). In an organization when management is carried out as per the portfolio then major focus is laid down on the cost relating to each portfolio component with respect to the value provided. If calculated value will be right then that work will be getting authorization. If it is found that the value is not appropriate then work would be eliminated, cut or backlogged.
1. 2 Reasons for researching in this area
It has become to research in this area as cleaning company was not able to manage their portfolio in an effective manner (Levine, 2007). This aspect was affecting their overall functioning with respect to internal and external environment. In order to avoid such an aspect within an organization it’s important to carry out proper planning for managing investments, holdings, products, businesses and brands of an organization in an effective manner (Lutchen, 2011).
1.3 Rationale for the study
This study has been carried out by the researcher for examining various aspects that need to be initiated for managing the business portfolio in a most appropriate manner (Osterwalder, Pigneur and Tucci, 2005). Researcher has also carried out this study so that proper identification can be carried out with respect to various factors that affect management of business portfolio within an enterprise. Study also understand different aspects that can be initiated by cleaning company for managing their business portfolio (Rosemann, 2010). Further, effective strategies has been explored that can be adopted for proper management of organization portfolio.
1.4 Research methodology
While carrying out a research majorly two kinds of research philosophies are formulated by a researcher (Gibaldi, 2010). These are Positivism and Interpretivism while carrying out a particular study. For carrying out the present research, researcher has made use of Interpretivism philosophy which is one of the technique that detail development of a new theory or model (Merriam, 2009). It does not rely on a universal phenomenon that is followed in a positivism philosophy.
Present research is going to select inductive approach as study base will be based upon theoretical approach. It is an approach that will began with an observations and theories (Fink, 2000). This will further help in formulation of end of research that will be based upon the aspect of observations. On the other hand, it can be said that carrying out this approach will not be including any theories in the beginning of the study and researcher has got all freedom to alter the direction of the study once the process of research has commenced (Burke, 2007).
Collection of data
Researcher is going to access various databases in order to collect appropriate secondary data that can be used for achieving the present objectives of the research (Gill and Johnson, 2002). Information has been collected as per the objectives that were framed for the study. In order to access appropriate data various online articles, journals and books were searched by the researcher.
The present research will be analyzed with the help of qualitative analysis. For this purpose various data will be collected from different secondary sources that will be used by researcher for drawing out appropriate themes for the study (Creswell, 2013). Investigator is going to analyze the various past studies that has been initiated by other researchers and scholars with respect to particular research subject (Beiske, 2003). Collected information from this source will be analyzed with the help of development of appropriate themes. It will further help in drawing out appropriate findings that can be initiated with respect to proper management of business portfolio within an enterprise (Ireland, Webb and Coombs, 2005).
From the study it can be concluded that in order to complete a research project in an effective manner there are various aspects that researcher need to look after for successful completion of a study. This aspect even helps in enhancing individual skills that are needed to be acquired for carrying out a research project. Further, research proposal has be drawn for understanding various aspects that need to be taken into consideration for appropriate management of business portfolio within an enterprise.
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