Use the same business problem/opportunity and research variable you wrote about in Week 3.
Remember: do not actually collect any data; think hypothetically.
Develop a 1,050-word report in which you:
- Identify the types of descriptive statistics that might be best for summarizing the data, if you were to collect a sample.
- Analyze the types of inferential statistics that might be best for analyzing the data, if you were to collect a sample.
- Analyze the role probability or trend analysis might play in helping address the business problem.
- Analyze the role that linear regression for trend analysis might play in helping address the business problem.
- Analyze the role that a time series might play in helping address the business problem.
Format your assignment consistent with APA guidelines.
The download will be Part 1 of the paper.
Slide 1 of 1
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Running Head: CLO BUSINESS DECISION-MAKING PROJECT PART 1 CLO Business Decision-Making Project Part 1 Robert Schaller QNT/275 August 1, 2016 By: Shawna Burke This paper anchors on the fall in market share challenge faced by Samsung Company Mobile Division. Emergency of Smartphone producing firms translated to competition in the market thereby substantially reducing market share and revenues that the company makes. 1 CLO BUSINESS DECISION-MAKING PROJECT PART 1 2 Ability of these firms to be efficient in production has influenced the market negatively for Samsung Company. Increase in demand of mobile phones around the world and emergency of new firms in the industry brought about this change. Ability to maintain existing customers as well as attract new ones serves to determine change in market share of a firm. This paper advocates for uses both quantitative and qualitative data collection techniques to analyze fall in market share for Samsung company mobile division. The basis of use of qualitative data its suitability in establishing trend in market shares in the industry. Qualitative data brings about attitudes that form an important part in consumer preferences. The paper proposes use of data from respective companies to explore this topic. Questionnaires on mobile phone users help capture the qualitative aspect of the research. Credibility of this source is strength for the research. Research proposed in this basis on hypothesis that market share of Samsung company mobile division has declined over the last five years (Lewis, 2015). Samsung is a South Korean multinational corporation that focuses on merchandise in electronics and other products. It begun in 1938 and today it represents one of the biggest electronic producing firms in the world. In the mobile phones domain, it holds a substantial share in the market that translates to huge returns. Its worldwide reach helps in establishing a big pool of customers. Trends in the industry such as demand for smartphones are a factor that has influenced market share over the last five years. Viability of companies in the industry dictates their market share. Among competitors of the company in the industry, include Apple, Sony and LG among others. Ability of companies to cater for all sectors of the market ranging from low financial power to high financial power is important in determining their success. Market share of the company therefore depends partly on performance of competitors. Innovation is the key CLO BUSINESS DECISION-MAKING PROJECT PART 1 3 for companies to stay relevant in the industry. Research and technology are facilitators in this case (Leinvuo, 2010). Increase in level of competition in the market is a challenge for the company. Ability to engage clients around the world partly depends on input of competitors. In the event that competitors become more efficient and effective in their production, market share swings in their favor. Over the last few years, the mobile industry has seen emergency of new firms that are efficient and effective. Their ability to produce products that offer competition to dominant firms such as Samsung has undermined its market share. Returns that the company makes depend on its sales. Decrease in returns making competition with other companies hard. It is because returns help in facilitating production by the firm. Employment of new techniques that are expenses therefore becomes challenging. Fall in market share for the company is therefore a huge problem that needs address. An example of indications of the fall of market share by the company is fall in production table as Apple Company has surpassed it in the results produced by the Forbes magazine in the year 2015. The need for the company to restore its former dominance is apparent (Holzer & Ondrus, 2011). This paper seeks to look at market share of the firm by analyzing the number of sales that it makes compared to competitors. Number of sales therefore gives the size of market share enjoyed by the company. Comparison of sales made by the company with those of competitors over the years gives changes in market share (Holzer & Ondrus, 2009). Both qualitative and quantitative methods are applicable. Quantitative approach is best suited for the study. Use of data from the company on the volume of sales over the last five years compared to number of sales made on sale of mobile phones by all firms is a means to this end. CLO BUSINESS DECISION-MAKING PROJECT PART 1 4 Data from competitors needed adding up to that of Samsung to provide total number of sales. Use of pie charts is the best approach for determining percentage of sales by the company compared to total sales made by all mobile phone companies in the world. Comparison of percentage of sale by the company over the five years gives changes in market share. Qualitative method serves to fortify quantitative approach by bringing out feelings of consumers on products of the company. Their preference is captured by using questionnaires on persons who use mobile phones around the world. Questions such as preferred device producer now aids in the research (Holzer & Ondrus, 2009). Market share is measurable through analysis of sales that the company makes in comparison with other companies in the firm. Attitudes of consumer are important in that it signals their likelihood to engage devices by various companies in the market. Trend in the sales over last five years gives the flow of market share. This trend therefore offers support or discredits hypothesis used in the paper that volume share of the company has declined over the last five years (Holzer & Ondrus, 2011). Reliability of data collected depends on its credibility. Source of data determines its credibility. Data collected from website of various companies is credible than that collected from other sources. Collection of data is easy in this case because the difference in volume produced and available devices gives devices sold. Data obtained from the companies is therefore credible. One source of discrepancy in data collected is manipulation of accounts by companies to minimize amount of taxes they pay to the government. Use of compromised data undermines its reliability and therefore leading to establishment of wrong inferences (Leinvuo, 2010). CLO BUSINESS DECISION-MAKING PROJECT PART 1 5 In conclusion, Samsung Company is one of biggest firms in mobile phone production and sale. Its relatively long time in the market has led to substantial success due to credibility that it holds for producing high quality devices. Increase in demand for mobile devices and emergency of new firms in the industry-increased competition. Market share of the company changed as a result. Efficiency and effectiveness of competitors in the industry lead to this change. A research on volume of sales that the company makes in relation to total sales by all companies in the world offers insights in changes in market share of the company. Effectiveness of the method depends on credibility of data because it relies on figures supplied by respective companies in the industry. The trend over a duration of last five years supports of discredits hypothesis for the paper. The paper holds that market volume for the company has decreased over the years (Lewis, 2015). References CLO BUSINESS DECISION-MAKING PROJECT PART 1 Holzer, A., & Ondrus, J. (2009, April). Trends in mobile application development. In International Conference on Mobile Wireless Middleware, Operating Systems, and Applications (pp. 55-64). Springer Berlin Heidelberg. Holzer, A., & Ondrus, J. (2011). Mobile application market: A developer’s perspective. Telematics and informatics, 28(1), 22-31. http://www.secc.co.kr/eng/html/index.asp Leinvuo, A. T. (2010). U.S. Patent No. D617,755. Washington, DC: U.S. Patent and Trademark Office. Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five approaches. Health promotion practice, 1524839915580941. 6
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