Instructordate Assignment 5 Competition Market Research Man

Nameinstuctordateassignment 5competition Market Research Manager

Assignement 5 COMPETITION – MARKET RESEARCH Manager Analysis Due Date: Week 10 Note: While representative of possible situations faced by Target & Walmart, all scenarios in this assignment are fictional. Your Role This week, you’ll assume the role of a Market Research Manager at Target. What Is a MARKET RESEARCH Manager? Market Research Managers are responsible for creating and improving processes for gathering information on various market conditions, competitors, and consumer trends in their companies’ industries. They are typically responsible for managing a team of researchers and reporting their findings to the head of the department. Teams across the company then use these findings to help improve products, guide marketing efforts, and more. As a Market Research Manager, part of your role is to consistently analyze Target’s position relative to its competitors and report on these findings. As part of this process, you complete a SWOT analysis for each of Target’s main competitors each quarter. The quarter is coming to a close, and your boss has asked for the latest SWOT analysis for Walmart. Instructions Step 1: RESEARCH Search online and find 1-3 articles that discuss the competition between Target and Walmart. For each article: Identify Provide a link to the article. Identify which aspects of the article will be helpful as you conduct your SWOT analysis. Step 2: STRENGTHS Based on your own experiences shopping at Target and Walmart and the research you conducted: Identify 1-2 strengths Target has in comparison to Walmart. For each strength, explain your rationale. Step 3: WEAKNESSES Based on your own experiences shopping at Target and Walmart and the research you conducted: Identify 1-2 weaknesses Target has in comparison to Walmart. For each weakness, explain your rationale. Step 4: OPPORTUNITIES Based on your own experiences shopping at Target and Walmart and the research you conducted: Identify 1-2 possible opportunities Target has to be more competitive with Walmart. For each opportunity, explain your rationale. Step 5: THREATS Based on your own experiences shopping at Target and Walmart and the research you conducted: Identify 1-2 possible threats that might diminish Target’s competitiveness with Walmart. For each threat, explain your rationale Step 6: WHO WILL COME OUT AHEAD? Based on your SWOT analysis, do think that Target or Walmart is better positioned over the long term to come out ahead? Why? Step 7: REAL_WORLD APPLICATION Conduct a SWOT analysis for your company and one of its biggest competitors using the methodology outlined in Steps 2-5. BUS508: CONTEMPORARY BUSINESS What should Mark have done if Jack still was not able to resolve the problem? If Jack is not the who will be able to solve the problem, so that Mark would have given a chance to others in the team and would have taken their solutions instead of depending on single person for completion of work or solving a problem though he believe in Jack because of his association, skill sets, working capabilities and knowledge but at this point he was not helpful to Mark and was not able was not able to solve problem. Yes he would give chance to Jack even for second time and also would have included other team members to give a solution for the problem so that they would have come up with their solutions and would have helped in times like this when persons like Jack was not able to solve problems or at least he would have asked Jack to guide others and accompany them in solving the issue or he would have asked Jack to select a person basing on his capabilities that Jack will believe that he will be able to solve the problem. Would it make sense for Mark to assign this problem to someone else now, after Jack could not solve the problem the second time around? Yes, I believe that he would, If Jack was not able to solve the problem even after second basing on company reputation it is a very much huge time for wasting on a problem which even not solved after second time. It would have been a good idea if he would have chosen others and asked them to solve the problem. I never believe that if a person cannot solve a problem it is not right that no other will be able to solve. We need to consider everyone’s ability and capability for solving a problem. Though Mark perspective towards Jack may be right but that doesn’t mean no others have the capability in solving issues. Here in case study, Jack PHD also hasn’t helped to solve the problem. What should Mark have done if Jack still was not able to resolve the problem? If Jack was not able to resolve the problem Mark should have considered assigning it to another member of his team, or potentially even conduct a brainstorming session with his team to figure how to best solve the problem. Sometimes an outsider's perspective can enable experts to think more creatively and approach the problem from a different viewpoint. Another thing that Mark could do would be to hire an external consulting firm to help with the problem. A cost-benefit analysis could be conducted for hiring external consultants considering the competitive advantage and long-term strategic and financial benefits of coming up with the design mechanism. (Conti, 2019) Would it make sense for Mark to assign this problem to someone else now, after Jack could not solve the problem the second time around? I think certain factors need to be considered before making this decision. First is the timeline of the project. Jack had already spent 2 months working on the problem initially and then spent another few weeks trying to solve it the second time. If the company could afford to spend a few more months doing more research on the problem then Mark should definitely assign this problem to someone else. It might make more sense to form a working group instead of assigning it to just one person since a group of experts might be able to provide a different set of perspectives that could help solve the problem. Jack should be part of that group as well. Considering the significance of the outcome of this project and the competitive advantage it would provide the company it would make sense for them to invest more time and resources in trying to solve this problem. They could even consider niche design firms that they could partner with to solve the problem because they lack expertise internally. This technique is called open innovation. (Kerzner, 2013) Answer questions listed in the end based on case study. 150 words per answer. Total 300 words. Format in APA style. What should Mark have done if Jack still was not able to resolve the problem? 5. Would it make sense for Mark to assign this problem to someone else now, after Jack could not solve the problem the second time around?

Paper For Above instruction

In the hypothetical case involving Jack's failure to resolve a critical engineering problem, Mark, the project manager at McRoy Aerospace, should have adopted a more strategic and inclusive approach after Jack's inability to find a solution. Initially, Jack's expertise and prior success justified assigning the project to him; however, when he failed twice, it was essential for Mark to reconsider his decision. One effective strategy would have been to assign the problem to other qualified team members or create a multidisciplinary task force that could leverage diverse perspectives and expertise. This approach aligns with the principles of collaborative problem-solving, which foster innovation and often lead to more comprehensive solutions (Tushman & O'Reilly, 2013). Additionally, Mark could have facilitated brainstorming sessions or encouraged cross-functional collaboration, allowing team members to contribute ideas they might not have considered individually (Chesbrough, 2003). Bringing in external consultants or specialized design firms would have provided fresh insights and technical expertise that internal team members might lack, especially given the complexity and novelty of the problem (Chesbrough, 2006). Such external partnerships often accelerate innovation processes through open innovation strategies, which facilitate sharing knowledge and resources beyond organizational boundaries (Chesbrough, 2003). Conceptually, these approaches reduce dependency on a single individual’s capabilities and mitigate risks associated with project delays or failures, thus increasing the likelihood of problem resolution under time constraints aligned with business needs (Davies, 2011). Therefore, if Jack's efforts proved unsuccessful after repeated attempts, it would have been prudent for Mark to delegate the problem to others or seek external expertise promptly to avoid project stagnation and capitalize on broader problem-solving capacities.

References

• Chesbrough, H. (2003). Open Innovation: The New Imperative for Creating and Profiting from Technology. Harvard Business School Press.
• Chesbrough, H. (2006). Open Business Models: How to Thrive in the New Innovation Landscape. Harvard Business Review Press.
• Davies, A. (2011). Innovation and Creativity in Project Management. International Journal of Managing Projects in Business, 4(3), 439–464.
• Tushman, M. L., & O'Reilly, C. A. (2013). Organizational Ambidexterity: Past, Present, and Future. Academy of Management Perspectives, 27(4), 324-338.