2.4.1 Strengths. In assessing the strengths of the a particular business organization, the management need to identify the advantages of the company over its competitors in the industry as well as other firms that offer substitute products and services. The company likewise needs to examine the vital business operation and processes that it does better than other companies. This includes the unique value proposition of the business organization or the resources that the company utilizes which are incurred at low cost but bring profit and revenue. The management also need to take into account the perceived strengths and advantages of the business organization in the perspective of the clients and consumers. As such, realistic evaluation of the company should be undertaken by treating the competitors’ advantages as necessities of the focal company (1992; 1980; B1986; 1995; 1996).
2.4.2 Weaknesses. Meanwhile, when dealing with the weaknesses of the company, the SWOT Analysis require the management to provide information regarding the aspects of the business that needs improvement along with particular operations that do not add value to the company and should therefore be avoided. The company likewise needs to be assessed in the point of view of the public particularly the target market that the company serves and provides for. Evaluation of the weaknesses of the company need to be carried out by considering the internal as well as the external perspectives to come up with more holistic view of the drawbacks of the business organization. Competitors should be analyzed in terms of business aspects that they do better than the company. Dealing with the weaknesses of the company will be beneficial for immediate improvements for the long-term existence and success in the industry it belongs to (1992;1980; 1986; 1995; 1996).
2.4.3 Opportunities. But more than assessing the strengths and weaknesses of the business organization, companies likewise needs to be sensitive to the available opportunities they face. Opportunities of the company can be identified by reviewing the weaknesses since such aspects can be develop for the improvement. Trends likewise are efficient detectors of opportunities because they present new prospect and chance to outdo competitors particularly when the management is capable of immediately reacting to or setting the very trends. Among the opportunities that the business organization can consider may come from (1) changes in technology as well as markets in both the horizontal and vertical pints of view, (2) changes in governing policies that directly influence the operations of the company, (3) changes in the social conditions such as lifestyle patterns, demographic characteristics, psychographics, and (4) relevant events in the local setting. In considering the opportunities available to the company, the management should decide on weather the business organization is willing to venture on such possibilities (1992; 1980; 1986; 1995;1996).
2.4.4 Threats. Lastly, when it comes to threats challenging the company’s success and profitability, obstacles in terms of competition, buyer needs and requirements, technological changes and trends, economic constraints in cash flows, and the weakness that may seriously put the company off guard should be examined thoroughly. Assessing the threats of the company is beneficial in giving light into what should be done within the business operations as well as in immediately attending to the problems of the organization ( 1992; 1980; 1986; 1995; 1996).
According to (2004), the result of the SWOT analysis should be a thorough understanding of the organization’s status, of its standing with important groups in its environment and of the factors in the environment that may influence its operations. Moreover,and (1997) stated that SWOT analysis is used to analyze the current position of the organization in which the result should be taken into account when developing the business plan. Both (2004) and (1997) thought that in order to make SWOT more valuable, it should be carried out in an objective manner and it should cover all aspects of the organization.
(2002) added that the organization’s current capabilities can be assessed through SWOT analysis to evaluate whether it meet the goals and the mission of the business or not. (2001) proposed the use of SWOT analysis to match the core competencies of a company with the trends in its environment to identify present opportunities in increasing the creation of customer value as well as in improving the currently existing values and underlying competencies of the business organization. The utilization of SWOT analysis can help in effectively making intelligent and grounded decisions regarding the company’s future market strategy. However, among the highlighted criticisms against the SWOT analysis approach focusing on its inadequacy involves several reasons. These reasons include (1) the long lists of factors evaluated, (2) the unclear labeling or wording of factors identified, (3) the lack of priorities for items, and (4) the lack of attempt to show evidence to prove the points that were raised (2002; 2001).
3. Methodology
3.1 Chapter Overview
The methodology provides information on the description of the methods and procedures that were conceptualized and constructed in order to obtain the needed data and information that will be most useful to the study. Details on how the accumulated data will be analyzed and interpreted as well as how the conclusion will be drawn is discussed in full extent in this section. This provides justification of the means in which the study will be accomplished and at the same time helps in giving purpose and strength to the validity and reliability of the collected information that makes this particular research practice truthful and analytic. Specifically, this research methodology will cover the following discussions: the methods used in accomplishing the study, the sampling technique utilized, the statistical treatment used, the limitations of the collected data, and the logical and systematic data presentation and analysis.
3.2 Sample
The use of stratified random sampling technique was grounded on the need to ensure the represenativeness of the respondents in the survey method. This particular sampling technique ensures the validity and reliability of the data based on the number or quantity of the respondents who filled out the survey questionnaires. Stratified random sampling technique operates by classifying the target population into group classifications as set by the researcher. The samples are chosen through several selection procedures that usually take several stages depending on the complexity of the characteristics of the possible respondents and the interest of the researcher (2001).
Since there is a possibility that several of the accomplished questionnaires will not pass the standards of validity set by the researcher, 5 other individuals who have the same characteristics as that of the defined target samples of the study will also asked to accomplish the questionnaire as reserved samples. Such incidents include half-finished survey form, inconsistent answers, untruthful information and forms of the respondent who did not answer the questionnaire seriously. Upon the completion of the required number of respondents for the survey method, the valid questionnaires will still be included in the presentation and analysis of the findings and results of the study.
Basically, (1973) initiated that it is advisable to use the Slovin’s formula in choosing sample sizes. Thus, the sample size of the population in this paper was determined by Slovin’s formula. The formula of Slovin is given as follows:
Where:
n = a sample size
N= population size
e= desired margin of error (percent allowance for non-precision because of the use of the sample instead of the population).
3.3 Method
This study will operate under the quantitative paradigm wherein the survey method will be utilized in order to elicit the relevant information needed to complete research (1992). Besides, quantitative research plainly and distinctively specifies both the independent and the dependent variables under investigation (2002). It also follows resolutely the original set of research goals, arriving at more objective conclusions, determining the issues of causality and eliminates or minimises subjectivity of judgment (1996).
The survey method was implemented in three successive data collection procedures. These included the pretest of the questionnaire, the actual survey, and the back-checking after the analysis of the data. The pretest of the survey was necessary in order to identify possible shortcomings of the instrument that may hinder the efficient collection of valid and reliable data. On the other hand, the back-checking that was implemented to provide assurance that the results of the analysis are consistent with that of the available information and facts in the field. The researcher gathered secondary data and collate published studies from different local and foreign universities and articles from business journals. This research project was accomplished by conducting a questionnaire survey using a sample of at least 100 respondents in which inferential statistics was used in organizing and summarizing the findings of the study.
Moreover, the use of survey is efficient since copies of the questionnaire could reach a considerable number of respondents through efficient personal distribution. It will serve as an effective and efficient research tool to elicit and exhaust the information that the respondents perceive regarding the topic of the research project at hand. The questions included in the questionnaire are composed mostly of close-ended queries for easy manipulation of the data during analysis and interpretation. The respondents were asked to fill out the self-administered questionnaires until such time that the researcher was able to complete the number of samples for the study. The researcher will tally, score and tabulate all the responses in the provided questionnaires for the subsequent presentation, analysis and interpretation of the data that were accumulated. Responses from the interview as well as information from secondary resources will be used to support the calculated values.
3.4 Measure
For the quantitative data analysis of the variables of the study, descriptive statistics were primarily used so as to present descriptions in manageable forms. As such, univariate analysis which involves the evaluation of different cases of a specific variable for a specific period of time (2003) was incorporated through statistical tools in the form of the frequency distribution. The measures of central tendency: (a) mean, (b) median, and (c) mode is an estimate of the “center” of a distribution of values. It is the distribution or summary of the number of occurrence of individual values or ranges of values for a variable (2000). To compute the mean all the values are added up and divide by the number of values. The median is the score found at the exact middle of the set of values while the mode is the most frequently occurring value in the set of scores ( 2002).
The analysis of the quantitative data was composed of the description of the variables by presenting the frequencies and mean averages of each. Correlations among the variables were likewise investigated and determined. The answers of the respondents will be first encoded and subsequent tests will be applied to produce quantitative and descriptive data used to complete the research project. Frequency values and percentages of the answers of the respondents compose the findings and results of the study.
Percentage – to determine the magnitude of the responses to the questionnaire
n
% = ——– x 100 ; n – number of responses
N N – total number of respondents
The statistical analysis was conducted using Microsoft Excel where the quantitative data are tabulated, graphed and evaluated. The relationships of the variables were then analyzed and collated with other findings of the study. The extent and magnitude of the relationship between variables were presented for the systematic analysis of the collected information. The secondary data that were gathered were likewise used to compare and contrast for consistencies among all the related sources that were cited which likewise dealt with the topic and interest of this particular research study.
3.5 Limitations
Conceptualization of the whole research study will prove some difficulties in constructing an effective questionnaire that will not tire the respondents yet has the ability to exhaust all the needed information from the participants for the completion of the project. The potential and empirical obstacles will include the difficulties in the data gathering procedures and the subsequent circumstances that every researcher face in the field such as complete participation of the subjects and the problems regarding figures of authority who have the power and prerogative to hold information that will be of great relevance for the success of the study.
Meanwhile, sampling procedures will be a great challenge to the researcher in relation to the representativeness of the selected individuals who will take part in the data collection procedures. Sometimes a few of the selected participants of the study will decline the involvement in the research project. There are also respondents who will inquire on the specifics of the investigation which the researcher can not divulge since it could spoil the data that the participant will share in the collection of the information.
Ensuring the validity of the accumulated data is considered to be the most crucial stage of the research endeavor. Since a methodology is always employed in the service of a research question, validation of the inferences made on the basis of data from one analytic approach demands the use of multiple sources of information through validation study built into the design (1998; 2002;2001). Planning the gathering period while keeping in mind the possible constraints that could be encountered in the field as well as the time available to complete the investigation will prepare the researcher in the further execution of the research project.
3.6 Data Analysis
The research variables were primarily analyzed in order to provide description on the factors that concerns the topic of the study. The variables of the study imply quantitative research wherein the data, situations, or other facts collected will be explained or correlated with other data. Basically, this research based its findings through quantitative research methods because this permits a flexible and iterative approach. Through the survey method, qualitative elements that do not have standard measures such as behaviour, attitudes, opinions, and beliefs are analyzed. As such, the information that the informants of the study shared to the researcher will be accordingly examined, analyzed and interpreted to answer the research questions presented.
Generally, responses to a questionnaire are objectified and standardised and these make tabulation easy. But more importantly, the respondents’ replies are of their own free will because there is no interviewer to influence them. This is one way to avoid biases, particularly the interviewers’ bias. The researcher used graph and charts for data presentation. Tables, on the other hand, are the summary numbers and figures indicated in rows and columns normally used to present quantitative data and results of the statistical tests. Tables facilitated the systematic presentation of all the collected data and information from the survey method. Each table was provided with proper title, number, caption, text and explanation that will comprise most of the results and findings section of the research study.
The triangulation research strategy in which the use of multiple sources to enhance the rigor of the research (2002) helps in the in-depth case analysis of the paper. (1995) stated that the protocols that are used to ensure accuracy and alternative explanations are called triangulation. The need for triangulation arises from the ethical need to confirm the validity of the processes. In case studies, this could be done by using multiple sources of data (1984).
The data and information gathered in using the secondary data analysis were used to support and rebut the claims of the study wherein critical examination and analysis of the findings were compared and contrasted with each other. The secondary data were critically analyzed based on the credibility of the authors, the methods used and the sampling procedures made in order to accomplish the said previous research studies. Secondary data analysis is composed of the reviews of references and sources in this study to either support or rebut the claims and findings of this particular research endeavor. This enabled the researcher to compare and contrast the results that were accumulated by other researchers who investigated the same topic of research. These include published and available unpublished research studies, case studies, journal articles, and books that have concerned on the investigation and analysis of different concepts, variables and factors that relate to the principal idea of the study’s investigation.
SURVEY QUESTIONNAIRE
Good day! I am a Business Management student in Nothumbria University doing a research on customers’ perception of ZARA. To enable me to make the necessary conclusions and recommendations for this study, it would be very much appreciated if you answer all the items in the questionnaire. Please take some time to complete the following questionnaire. Your answers will provide the data needed in this study. Rest assured that your answers would be treated with utmost confidentiality. Your help and honesty will be greatly appreciated. Thank you very much!
1. Have you heard about ZARA?
A. Yes
B. No
If your answer is No, please proceed to Question #8.
2. How did you know ZARA? (Choose all that applies.)
A. Advertisement (e.g. TV, Magazine, Newspaper, etc..)
B. Friend/Relatives
C. Internet
D. ZARA Outlets
E. Others _______________________
3. What is your general perception on ZARA?
A. Good
B. Bad
C. No Comment
4. Have you ever go shopping in ZARA?
A. Yes
B. No. Why? ________________________________________________ (If No, please answer Why? and proceed to Question #8.)
5. How often do you go shopping in ZARA?
A. > 1 per month
B. 1 per month
C. <1 per month
6. How much do you spend for each visit in ZARA?
A.
B. – 0
C. 1 – 0
D. 1 -0
E. more than 0
7. What are the reasons you go shopping in ZARA? (Choose all that applies.)
A. Fashionable
B. Low Price
C. Good Customer Service
D. Full Stock
E. Recommended by Friend/Relative
F. Others___________________________
8. If you know that ZARA is fashionable and offers low price, will you go to visit?
A. Yes
B. No. Why? _________________________
9. What are your considerations when buying clothes? (Choose all that applies.)
A. Price
B. Quality
C. Fashion
D. Customer Service
E. Others ___________________________
10. Aside from ZARA, which other brands you usually go to? (Choose all that applies.)
A. Benetton
B. Agnes B
C. Espirit
D. I. T./ i.t.
E. 2%
F. Others ____________________________
Please rank fashion apparel brands that you know in terms of the criteria listed in the first column. (Use the following scale: 1 – Best 2 – Good 3 – Fair 4 – Bad 5 – Poor.)
CRITERIA
RANK
1
2
3
4
5
1. aesthetics and creativity
2. uniqueness
3. sophistication, class/glamour
4. price
5. availability, range of choices
6. customer service
7. innovativeness
8. accessibility of outlets
9. store format
10. attractiveness of design and features
11. Your Sex?
A. Male
B. Female
12. Your Age?
A. below 15 yrs. old
B. 15 – 18 yrs. old
C. 19 – 23 yrs. old
D. 24 – 28 yrs. old
E. 29 – 35 yrs. old
F. 36 – 42 yrs old
G. 42 yrs. old and above
13. Your educational Attainment?
A. Elementary
B. Secondary
C. College
D. Post Graduate Studies
14. Your Occupation? Please specify. ___________________________
Credit:ivythesis.typepad.com
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