MAR024-1 Individual Written Report Assignment Sample
Here’s the best sample of MAR024-1 Individual Written Report Assignment.
Executive summary
In this research proposal, there is a qualitative and a quantitative journal and the data that will be analyzed to classify and interpret them. To do that there will be different methods to choose from and the appropriate method will be used. That will be discussed in detail to understand the journals and then based on the article; different concepts will be identified from the data. The concepts will be linked to the discussion. Both the qualitative and quantitative data will be theoretically and practically implied with the study findings. An evidence-based conclusion and recommendation will be presented.
Introduction
In the qualitative journal, the topic is entrepreneurial marketing dimensions and SMEs performance which indicates the impact of entrepreneurial marketing on the performance of SMEs. Many marketplaces are traditional and sometimes they are not suitable for small and medium enterprises. So in that situation, entrepreneurs need to replace the traditional principles with new thoughts that are innovative and actions that are relevant for innovation and that require entrepreneurial marketing. Value creation is one of the most important factors in entrepreneurial marketing and that is linked positively with SMEs as it focuses on proactive and innovative ways of leveraging the resources. The quantitative journal provides data on the topic of timing and speed of internationalization which is evidenced by African banks. Internationalization means the design of a specific product that can be consumed across the world comfortably. This helps to expand the global footprint of a company. Speed and timing of internationalization refer to the measurement of the length of time which has been needed to achieve a certain target. Although the process of internationalization is considered dynamic, the time and speed of the process have always been an important factor. So the evidence from African banks can be used for analyzing the information about the timing and speed of internationalization.
Literature review
Proactiveness
According to Alkan et al. (2019), proactiveness refers to the behaviour that includes the actions that are taken in advance for the possible situations in the future. It involves more than just reacting to a situation. It takes control of things and makes it work positively. Proactiveness in entrepreneurial marketing provides the capability to the companies to control and implement new services and products in the market and it gives the companies the attitude to be ahead of their competitors.
Opportunity focus
Opportunity is an idea that is durable, attractive, and timely as well as attached to a product or service of the company. It helps to create and add worth to its end-user and buyer. Entrepreneurs in entrepreneurial marketing get success more quickly by being opportunity focused and that helps them start growing their company in the market. As opined by Alkan et al. (2019), utilizing the ideas in a way that provides the company with numerous benefits is a factor of opportunity focus. Being opportunity focused provided the small and medium enterprises to find new ways to evolve their business in the global market.
Calculation risk taking
According to Brown and Rich (2020), chances that have been taken after careful and serious analysis and then estimated with the problem as that is taken to the arbitration is calculated risk. Calculated risk-taking is vital because it points to the possible negative situation that can be there in the plans. It helps to recognize the opportunities for the future and that provides the company to have a better outcome towards success in their businesses. It helps to utilize the options that have been made for getting a better outcome from the unavoidable element risk factors.
Innovativeness
As opined by Cirillo et al. (2020), innovativeness includes many factors management such as creating a solution with new ideas that are originality and independent. Innovativeness refers to the effectiveness of an opportunity in marketing, which provides the company success in unique ways that are not done by other competitors of the company. Innovativeness is very important in entrepreneurial marketing because it can provide companies with solutions that apply to critical situations that have the potential to harm the company. Innovativeness requires ideas that have not been previously used by any company or enterprise so that the entrepreneurs can use those ideas to grow themselves.
Customer intensity
Customer intensity is one business operator’s tendency to build a marketing relationship that can take care of every single customer’s need, references, and desires that are relevant to the customers on a more personal level. Customer intensity helps entrepreneurial marketing to address the needs and desires of individual consumers of the company and that provides the company to grab more customers and gain their attention. Providing customers with products that they prefer is a smart way to increase the business on a global level (Healy et al., 2019).
Resource leverage
As opined by James (2019), resource leverage indicates the proper use of resources that are available in the company identifying the requirements of resources and the business is also a factor of resource leverage. Creating new resources in the company with the help of existing funding and newly identified funding from different Agencies and organizations is a part of resource leverage. It helps the entrepreneurial market to gain more profit in the market by using existing resources properly and producing products strategically for the different states in the world. It helps the company to utilize that time and use different Technologies to find out ways to use resources properly. Internationalization is a process of implementing and planning services and products so that it is easy for adaptation to the culture and local language this process is called localization. This internationalization process is also sometimes known as localization or translation. It refers to the incrementing of international trades, international alliances, international relations, and many more. It is not a process limited to build relations among international organizations and diplomats. Civil servants and diplomats of traditional national diplomacy are also vital members concerned with the internationalization process as they are the ones who are responsible for implementing government external actions. Internationalization is not a cooperative process as it considered various challenges, scenarios, and strategies at play (Kaul et al., 2019). It is seen that internationalization can be implemented with the help of three steps and those are as follows. The first step is building certain capabilities in the local market the second step is the establishment of growth options in the global market with the helped acquisitions that are small scale in nature or alliance that are strategic the last step is the quick integration and the global market entry. To accelerate the speed of internationalization there are certain factors to be considered which are as follows: experience accumulation, firm-level factor, include learning. There is a rapid integration in the speed of internationalization with the help of a strategic alliance. It has been seen in the recent study that the internationalization of African MNEs that motivates the international expansion of South African Breweries.ltd. In a survey of 46 African countries across seven years done by the World Bank enterprise projected the bond among the foreign participation in the enterprise in Africa. It is also seen that the participation of foreign enterprises had a positive impact on Africa for internationalization intensity. By anglicizing the post-acquisition behaviour of two African banks, Makhmadshoev and Ibeh it is seen that these banks us primary control-enabling data. According to the opinion of the author, the newer African multinational enterprise should focus on developing mission-critical capabilities ahead of the international acquisition. The study on the internationalization of African MENs is going on. The main benefits of internationalization are being rapidly growing in the past years and it is on the most important aspect for any organization. The international expansions offer a great range of opportunities and also consist of threats. The main benefits of the international trades’ help to get profits maximization and also helps in get more demands in the market share. However, it can be analyzed these are few benefits that will help the African bank to sustain in the international challenging market. Hence, from the above discussion, it can be easily seen that internationalization plays a vital role in African banks. As opined by Morgan (2019), from the above discussion, it can be stated that internationalization plays a great role in promoting the products and services of the bank.
Methodology
In the qualitative data, the methods of examining the information for the research were based on the information that was available in the journal of business research, “Entrepreneurial marketing dimensions and SMEs performance”. Qualitative methods have been used to focus on and study the reliability of the journal and the data collection process of the journal. It included factors of different economic sectors such as construction, production, retail, wholesale, restaurants, and hotels. The proactiveness, innovativeness, opportunity focuses, resource library, and many more in the journal were reviewed to use qualitative methods. Materials of the research methodology were available in the business research journal. The data was observed by the qualitative method and the methods included a detailed analysis of information in the journal, then getting familiar with the data, reviewing the research objectives then understanding the research were used to structure and label the data. Positive and negative responses of the questions were used to identify the pattern of responses from the journal (Myers, 2019). Understanding the content is one of the methods in a qualitative data analysis method. It involves examining responses from surveys that were available in the journal. Developing a proper framework by using coding and indexing is also a part of qualitative methods. Coding the information from the answers of the survey such as age, gender and socio-economic status along with concepts is the process of qualitative methodology. In the quantitative data, the methods of examining the information for the research were based on the information that was available in the journal of business research, “Timing and speed of internationalization: Evidence from African banks”. Here the quantitative method has been used to examine the data from the article and the literature. This method involved getting familiar with the data that is available in the journal because most of the information in the journal is based on just words that are relevant to the research to by reading the data it helped to get familiar with the data, then identifying the objectives were observed to understand the data in the journal. Identifying different patterns and connections in the data that is available in the journal is also a part of the qualitative method. This means the identification of themes that are in the journal and that helps to look for the most common responses that have been given to the question. By connecting the responses with the journal provides the information that needs to be explored further. The qualitative methodology helped to develop the framework that identifies and broad ideas, behaviours, concepts, and phrases assigned to the journal. Coding is a useful factor in the structure and label of information (Nair and Reed‐Tsochas, 2019).
Findings
Key findings 1
Traditional marketing is no more suitable for the business markets that are small as well as medium. It is very important to come up with different and latest marketing ideas which became possible with the help of entrepreneurial marketing. Entrepreneurial marketing is simply the latest innovative ideas as well as thoughts that are used to come up with better business ideas (Plakoyiannaki et al., 2019). This is a proven solution and is considered as very effective action especially for small firms or SMEs. This journal examines the exact impact that entrepreneurial marketing has on small and medium-sized enterprises. These finding shows that the respondents mainly are focused on gathering maximum opportunities and they also understand it very well that how leveraging the resources is important. Creating value can be considered as one of the most important dimensions of entrepreneurial marketing which is why the SMEs mainly focus on taking different risks. SMEs do not focus on becoming customer-based, innovative, or proactive. The candidates who are chosen for the interview section are mainly selected from the SMEs which is why this can be considered as a limitation because there are chances that the candidates do not provide honest answers.
Key findings 2
This study is focusing on internationalization and the banks of Africa. Internationalization means spreading the business market internationally which in this case is seen with the banks of Africa. To spread the business internationally, different strategies are needed and the banks of Africa can conduct faster and affective internationalization with this particular case study. The banks chosen in this particular case are the top 23 ranked banks of Africa. The experience of the broad members along with the firm's structure of ownership mainly helps to determine the speed and timing of internationalization. Three main findings show how the speed and timing of internationalization can increase among the bank of Africa. The first key factor discusses proper observation (Waluszewski et al., 2019). Observation is needed because observing the international business market is very important so that the banks can spread more effectively and effortlessly. Secondly, it is very important to expand in a business market that is more friendly and similar. This is why having a good bond in the international business market can help the banks of Africa to internationalize more easily. Another major factor that should be kept in mind while spreading internationally is to spread in those particular countries which are already developed rather than international rising in those countries which are still developing.
Conclusion
After classifying, interpreting, and analyzing the data in the qualitative business research journal it can be concluded that information in the article “entrepreneurial marketing dimensions and SMEs performance” is based on data that are significant for the future of small and medium enterprises. Relevant factors that can increase the performance of small and medium enterprises such as proactiveness of the company opportunity focuses on the entrepreneur’s calculated risk-taking options and innovativeness in the business ideas are useful in the process of developing entrepreneurial marketing. The possibilities of these factors are determined by collecting data via survey and by that the journal was reviewed. After analyzing and classifying the data that is available in the quantities journal of “timing and speed of internationalization: evidence from African banks”, it can be concluded that it has been in the focus of international business research and studies for a very long time. It is very beneficial for businesses to grow in different countries around the world. This Journal review is dependent on the data that is exclusively available in the article. Studies confirm that there is the involvement of the economics and banking industry in the process of internalization of business. Several African banks were excluded from the sample of data as some corporate reports are not available.
References:
Alkan, A., Canbay, K., Akman, G. and Aladağ, Z., 2019. Researching Usage of Globe Culture Dimensions In Organizational Management By Using Dematel Method. SakaryaÜniversitesi Fen BilimleriEnstitüsüDergisi, 23(2), pp.282-290.
Alkan, A., Canbay, K., Akman, G. and Aladağ, Z., 2019. Researching Usage of Globe Culture Dimensions In Organizational Management By Using Dematel Method. SakaryaÜniversitesi Fen BilimleriEnstitüsüDergisi, 23(2), pp.282-290.
Brown, A. and Rich, M., 2020, May. Researching student learning on business management degree courses: the problem of evaluation. In of the 19th European Conference of Research Methodology for Business and Management Studies.
Cirillo, A., Huybrechts, J., Mussolino, D., Sciascia, S. and Voordeckers, W., 2020. Researching family business growth. European management review.
Healy, G., Tatli, A., Ipek, G., Özturk, M., Seierstad, C. and Wright, T., 2019. In the steps of Joan Acker: A journey in researching inequality regimes and intersectional inequalities. Gender, Work & Organization, 26(12), pp.1749-1762.
James, W., 2019. Business Ethics.
Morgan, N.A., 2019. Researching marketing capabilities: reflections from academia. AMS Review, 9(3-4), pp.381-385.
Myers, M.D., 2019. Qualitative research in business and management. Sage Publications Limited.
Nair, A. and Reed‐Tsochas, F., 2019. Revisiting the complex adaptive systems paradigm: leading perspectives for researching operations and supply chain management issues. Journal of Operations Management, 65(2), pp.80-92.
Plakoyiannaki, E., Wei, T. and Prashantham, S., 2019. Rethinking qualitative scholarship in emerging markets: Researching, theorizing, and reporting. Management and Organization Review, 15(2), pp.217-234.
Waluszewski, A., Snehota, I. and La Rocca, A., 2019. What remains to be discovered? Manifesto for researching the interactive business world. Journal of Business & Industrial Marketing.
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