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| (1) a possible Dave's decision problem,
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(2) the research problems (objectives) appropriate for this decision problem,
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Peon! (3) the research questions that are necessary to achieve the research objectives,
eople
Grad (4) possible variables to measure to answer the research questions.
ades
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Instruction In doing so,
iefly explain your logic and how your decisions in prior steps influenced your decisions in latter steps.
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Page Limit: 1 page (longer assignments will get a point penalty).
Writing Format: Bullet points and paragraphs are both OK - which ever you think is more readable and easier for me to find the information you are trying to
convey. However, you should be using full sentences to explain your logic.
Important: Please do NOT include the original question in your assignment. This unnecessarily flags your assignment for plagiarism and also makes it hard to
fit in the page limit you are given.
Tips:
1. Make sure to state your assumptions clearly - especially in formulating your management problem, but also in deriving research objectives/questions as
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1. Make sure to state your assumptions clearly - especially in formulating your management problem, but also in deriving research objectives/questions as
needed.
2. This is an exercise in practicing action-oriented decision problems. Thus, make sure to come up an actionable (action-oriented) decision problem (and not a
discovery oriented one). If you choose a discovery oriented problem, you will have difficulty with the rest of the assignment.
3. Research objectives basically ask the question: “what do | need to know to solve the management problem?” So, here it is essential that you list all the
things you would need to know to help you make the decision embedded in the management problem you have identified. It is also important that you do
NOT mention anything that is not directly relevant to your management problem.
4. Research questions follow a similar partner. You ask the question: "what do | need to know to address each of the research objectives | have identified?" So,
once again, it is essential that you list all the things you would need to know to address the research objectives and NOT mention anything that is NOT directly
elevant to it.
5. Finally, same principles apply to the listing of the variables: list all relevant variables, but not anything that is not. Depending on the variables you choose,
you might need to disclose any assumptions (e.g., do you assume the firm to be continuously collect some form of data, granularity of data, if needed data
collection method - survey, experiment, projective techniques etc.).
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Individual Assignment 1
Local Butche
Deciphering the symptoms a firm faces and formulating them into meaningful decision problems & research questions might be trickier then it seems. In this
exercise, you will be provided with a firm's situation and the symptoms it is facing.
Firms’ situation: Dave Grant, an entrepreneur and meat lover, recently opened a new butcher in Columbus. He was lucky enough to find a building that was
already fitted with a kitchen and the suitable setup. Dave closes his shop on Tuesdays and Wednesdays to do his butchering and is open for the remaining of
the days between 11am and 6pm. When he first opened his butcher, the novelty factor
ought in a lot of foot traffic, especially from the local neighborhood.
However, overtime, things has slowed down. He tried to reach his customers via new social media accounts, to offer lunch on Sundays and started offering
some specials. Later on, he also experimenting with increasing prices to make up for the lost revenue. Alas, he does not seem to increase the foot traffic or his
evenues.
So, these symptoms are:
= lower than ideal/expected foot traffic
= lower than ideal/expected revenues/profit
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Answered Same Day Sep 05, 2023

Solution

Banasree answered on Sep 05 2023
20 Votes
Page | 2
1. A possible Dave’s decision Problem:
i. Dave is faced with the decision dilemma of devising a strategy to revitalize the displays of his butcher shop.
ii. He must determine how to increase foot traffic during slow periods, especially on Tuesdays and Wednesdays, to increase revenue and profits without compromising customer satisfaction.
iii. Additionally, some decision requires him to make the right choices in marketing, pricing, supply chain and business improvement.
2. The research problem (objectives) appropriate for this decision problem.
i. Evaluate foot traffic: Understand foot traffic schedules at a moment’s notice, focusing on Tuesdays and Wednesdays to identify opportunities for improvement.
ii. Develop better pricing strategies: Evaluate the impact of recent price increases on customer loyalty and revenue and determine the most effective pricing strategy.
iii. Increase customer engagement: Evaluate the effectiveness of cu
ent marketing efforts and social media engagement.
iv. Improving the customer...
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