Description
Unit 4 – Discussion Board
Business Research and Decision Making(MGT510-2305B-01)
Denise Francis
RE: UNIT 4 – DISCUSSION BOARD
Hello:
Your description outlines a comprehensive and insightful approach to addressing the low conversion rate on the e-commerce site. By combining quantitative data analysis, surveys, and statistical methods, your approach provided a holistic understanding of user behavior and allowed for targeted improvements to address specific pain points. This iterative process aligns with the principles of data-driven decision-making and continuous improvement in e-commerce. Great Post!
Kimberly Ford
RE: UNIT 4 – DISCUSSION BOARDHello, . Thank you for your post. You gave a good introduction about how business operate on numbers and collecting all that data can be overwhelming. I think the way you collected you quantitative data from a customer at your place of business is a good way to do a survey and collect data that is needed. Offering a customer a gift for doing the survey gives them an incentive to give their true opinion about the company. Throughl the use of a survey it can gather up data and show what the response rate is and what the level of satisfaction is for the customers. This helps business make decisions about what things need to be improved on to make the company stay on top and be successful.
Response to AMERIA:
I once had a clothing line wanted to analyze customer satisfaction data to identify areas for improvement. In this case, I could use a technique called regression analysis to identify which factors have the most significant impact on customer satisfaction.
Regression analysis allows Me to explore the relationship between a dependent variable (in this case, customer satisfaction) and one or more independent variables (such as product quality, price, customer service, etc.). By using regression analysis, I can quantify the impact of each independent variable on customer satisfaction and identify which factors are most important.
To accomplish your objective, I would gather quantitative data on customer satisfaction (perhaps through surveys), as well as data on various factors that could influence satisfaction. I would then use regression analysis to model the relationship between customer satisfaction and the independent variables, allowing me to identify areas where improvements could have the most significant impact on overall satisfaction.
Reference:
Smith, J. (2019). Quantitative Data Analysis in Business: A Practical Guide. New York, NY: Business Publishing.
Response to Monica Lee:
Hello To All,
Analyzing Quantitative Data
The quantitative data that I’ll be discussing was the time when I worked in the salon. My objective was to gain new clients. After months of working, I notice that there were several things just off track, but I knew in order for me to be successful in this salon I had to focus upon what I wanted to see a growth spurt in. And that was to be making a decent income for me & my 1 child at the moment. Understanding that data for quantitative analysis uses avenues for surveys & questionnaires. (Ofem,E. 2022)
Research Question: How many clients can I potentially gain being in this new salon?
After, doing my research outside of the salon. I gained a lot of knowledge from older previous stylist who had more experience & years than me. I used what they shared with me added my own twist with it. In order to collecting data, you must apply some pressure to gaining results that will then become beneficial.
I set a goal to gaining many women on the scale of 15 to 25 at the most. The males would be at 10 the highest. Knowingly that my specialty is working with women more versus men.
What I did was did small interaction by interviewing the males/females when they would enter into salon.
Questions I Asked:
-What attracts you to coming into the salon for your hair care?
-What change do you want to with your hair?
-How often do you come to salon?
Asking these questions to my new clients to into consideration that I as the stylist showed compassion about their hair regimens. Not only did they come back to seeing me, but they gave referrals to me by their word of mouth. Because not only did I offer great services, but I also persuaded them into purchasing the correct products needed for their hair in between the salon visits. I called it my away from the salon product care. I was constantly being thanked for the products because it made their hair feel good with a natural shine & not so heavy with all the other store brand products.
The questionnaire was a great success because it actually brought out my customer servicing skills to knowing that I can accomplish the job. And this also open doors for me becoming the manager in the upcoming store in the future.
Reference: Ofem, E. (2022) Quantitative Data: What It Is, Types and Examples. www.hevodata.com
Unit 4 – Discussion Board
Legal Aspects of Business Decisions(MGT525-2305B-02)
Response to Renee:
Start Talking’s Moral and Legal Obligations in Addressing Product Misuse
Start Talking, as a U.S. firm providing communication software to Shady Company, does bear both moral and legal responsibilities in the case of Shady Company exporting finished goods to a country where U.S. goods and parts are prohibited due to conflicts with the U.S. government. From a moral standpoint, Start Talking has a responsibility to consider the potential consequences of its products being used in ways that may violate international laws or contribute to activities against the interests of the United States (Wenbo, 2023). Ethical business practices involve a commitment to societal well-being beyond profit, and being aware of the misuse of its products aligns with these principles. By turning a blind eye to Shady Company’s actions, Start Talking may inadvertently become complicit in activities that could have severe ethical implications, including potential harm to individuals or violation of human rights.
Legally, Start Talking may also have a responsibility under U.S. law to ensure that its products are not being used in ways that violate government regulations, especially those related to export controls and restrictions on certain countries. Ignorance of the destination and use of its products might not absolve Start Talking of legal consequences. U.S. export control laws and regulations are designed to prevent the unauthorized export of goods that could be detrimental to national security or foreign policy objectives (Jia, 2023). If Start Talking is found to be supplying products that end up in prohibited destinations, it could face legal consequences, including fines and penalties.
In conclusion, both moral and legal considerations suggest that Start Talking has a responsibility to investigate and address the potential misuse of its products by Shady Company, ensuring alignment with ethical business practices and compliance with relevant U.S. laws.
References
Jia, C. (2023). Study of the export control tendency in the United States and the European Union and the response strategy of S company (Master’s thesis). https://repositorio.iscte-iul.pt/handle/10071/29515
Wenbo, S. (2023). Research on the extraterritorial application of China’s antitrust laws in the context of the Sino-US trade war. International Journal of Frontiers in Sociology, 5(13). https://francis-press.com/uploads/papers/jHKkuMWnRfmcRqcnw71NcE3ThJjiZd4l9E2uo2c7.pdf
Response to Tanya:
Hello everyone, good afternoon. Welcome to week four Discussion Board post.
For this week’s topic I feel that the U.S.firm Start Talking does in fact have a moral responsibility in the case against the “Shady Company.” The reason for this is because the manufacturing firm that it supplies Shady Company has been exporting finished goods to a country where United States goods and parts are prohibited. The moral responsibility for Start Talking would be that Shady Company is in fact in violations and should be held accountable for their actions because they knew it was unacceptable and illegal.
Start Talking I would also say can in fact be held legally responsible in this case as well. Because Start Talking supplies one of their manufacturing firms Shady Company they have to stay on top of everything that goes on meaning the who, what, when, why, and where. Which in this case they did find out Shady Company was committing illegal activities.
When it comes to the exporting of goods outside of the United States the International Trade Administration provides resources on export laws as well as regulations. For anything that pertains to a licensing export, the Bureau of Industry and Security or the United States Department of State’s Directorate of Defense Trade Controls is your license agency.
When it comes to your technology and software, the Export Administration Regulations (EAR) govern the re-export and export of these commodities.
Before I would open any manufacturing company I would highly recommend to research everything possible from license’s, to whom you can ship to, all rules and regulations, extensive background on every supplier you come in contact with, screen and extensive background on the employees and management team you have working for you as well as all your products (from start to finish). You should always have a backup plan in place should anything go wrong and seek advice from reputable attorney’s in the event something does happen. Hefty fines and possibly imprisonment can cost you in the long run if you don’t have your proper licenses, documents, or follow all rules and regulations.
References
American InterContinental University. (2023). International Business: Types of Businesses [Multimedia presentation]. American InterContinental University Virtual Campus, MGT525-2305B-02: https://mycampus.aiu-online.com
International Trade Administration. (n.d.). Consolidated Screening List. trade.gov https://www.trade.gov/consolidated-screening-list
Pagnattaro, M. A., Cahoy, D. R. Magid, J. M. & Shedd, P. J. (2022). The legal and regulatory environment of business. (19th ed.). McGraw-Hill https://bookshelf.vitalsource.com/
