Topic > Research and Decision Making - 1907

Research and Decision Making The ability to create devices to capture data and be able to understand, organize, and extract useful information from that data is critical in today's business world. Companies need to be able to ask the right questions, in the right way, to get the information most relevant to their situation. Knowing the limitations of the research is integral to understanding the information you gain and making sound decisions based on it. In the management research design simulation, Coffee Time must do just that; acquired data, analyze it for information, and determine the validity and limitations of that information to make important business judgments. Coffee Time is a very popular coffee shop chain in the US and Europe and is now trying to enter the South Asian Market (Research Design Simulation Management, 2002). In order for Coffee Time to determine whether South Asia will be a good market to launch its product, Coffee Time needs to analyze several data points that will help identify various locations in India that sell coffee and other types of research needed to identify the market. need for coffee in this region. Conducting and analyzing this research data will help Coffee Time see how valid and reliable this data is to make a better and final decision to invest in this region. After running the Managing Research Design simulation, it was decided to analyze these different cities of India: Ahmedabad, Mumbai, Delhi, Bangalore, Chennai and Pune, among the 12 cities provided to be analysed. The analysis of these cities will give a better idea of ​​the kind of modern cultural vision the population has compared to other cities. From this data, Coffee Time will also be able to analyze the demographics of the area, the leisure and lifestyle of the population, how infrastructure will affect the business and, finally, what kind of competition Coffee Time will face if it decides to start a business in India. As the simulation mentions: “Among secondary data, people's monthly income, the number of shopping malls in the city, the average number of visitors in the shopping mall, the number of square km and the number of coffee chains are key indicators of the market potential for Coffee Time products” (Managing Research Design Simulation, 2002).