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Create a business solution based on statistical methods

THIS SOLUTION NEEDS TO HAVE SOLUTIONS THAT FOCUS ON RESEARCGH & STATISTIC CONCEPTS THAT WOULD BETTER DEVELOP THE ORGANIZATION. IT SHOULD CONTAIN A SOLUTION TO THE PROBLEMS THAT THE COMPANY IS HAVING TO HELP RESOLVE THE ISSUES! HOPE THAT MAKES SENSE.

I have a problem solution I need help with PLEASE!!!!

Here are just some of the questions I need help with. I have attached the scenario that these answers are to be based upon. Thank you VERY much. It is GREATLY appreciated!

1. Issue and Opportunity Identification
- Explain the most important past events that led to the issues and opportunities that the organization is having.

2. Stakeholder Perspectives/Ethical Dilemmas
- Identify the various stakeholders and their interests, rights, and values within the organization.

3. Problem Statement
- Think about what the organization aspires to be and the range of opportunities it must seize to achieve that vision

4. End-State Vision
- Implement measures to prevent the problem from happening again

5. Alternative Solutions
- Research problem statement to formulate alternative solutions to meet the end-state goals.

6. Analysis of Alternative Solutions

7. Risk Assessment and Mitigation Techniques
- Examine the probabilities and consequences of negative outcomes or risks associated with the two or three remaining alternative solutions.

8. Optimal Solution
- Describe what your solution looks like and describing how it will help achieve its vision

9. Implementation Plan
- Explain how to implement your new plan.

10. Evaluation of Results
- Detail how you will measure your proposal's success against the end-state goals.

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1. Issue and Opportunity Identification
- Explain the most important past events that led to the issues and opportunities that the organization is having.

The primary issue facing USA World Bank is the launch of a new product every year that, in recent years, has not been successful. This year's options are Instant Rewards Program and a Small Business Card in hopes of keeping existing customers and attract new customers to USA World Bank. The overall costs involved in launching a new product limit USA World Bank to only one of the two projects.

The Vice President of New Product Development, Mary Monroe, and the Vice President of Marketing Development, Jim Wilson, are vying to have their product endorsed by President of New Product Development Brian Allen. Both Monroe and Wilson had statistical analysis of their prospective markets conducted using different methods. The first option was Monroe's plan and was presented to the USA World Bank Board of Directors by Allen. A review of the statistical analysis performed by a newcomer to the Board of Directors, Bea Hansen, determined the data collected by Monroe may not have been representative of the costumer-bases.

With the doubt created by Hansen, Allen and Monroe rushed to get answers to her questions and collect new data while Wilson was advised to have his plan ready to present to the Board in the event Monroe's plan remained statistically flawed. A second attempt was a second class in statistical analysis from Hansen. Allen returned to discuss a collaborate effort on the parts of Monroe and Wilson for the data collection methods to ensure the customer bases are properly represented. Through collaboration, Monroe and Wilson now have the opportunity to develop a product which satisfies the needs of their prospective customers.

2. Stakeholder Perspectives/Ethical Dilemmas
- Identify the various stakeholders and their interests, rights, and values within the organization.

Board of directors and the Stockholders are concerned with the stock price and market share. The Senior Management is concerned about any increase the company's financial strength by bring back lost and gaining new customers through the implementation of a successful new product. The Bank needs to ensure that individuals do not work corporate politics to his or her advantage when it could possibly cause a loss of revenue through the loss of customers. As for Best Market Research, they must focus on regaining credibility in the way it conducts research.

USA World Bank is an international bank with a large consumer and small business customer base. In order to expand its market share, USA World Bank introduces a new product every year. The past few years have not been very successful resulting in a number of customers either leaving USA World Bank or considering that option. At first glance it appears the primary issue facing USA World Bank is which product to launch this year. However, a much harder look will reveal that the data used for product development has not been representative statistical data. Additionally, the project lead and other key decision makers do not know how to properly collect or interpret the data. Lastly, poor internal communication problems have lead to redundant, yet conflicting, data collection.

See, ethical dilemmas are unavoidable when more than one party is competing for the opportunity against another regardless if it is internal or external. This is no different for USA World Bank and Mary Monroe and Jim Wilson. The stakeholders here are the customers, the Board of Directors, the stockholders, Best Market Research, Monroe, and Wilson. Given the failure rates of past product launches, hard questions need to be asked by the Board. The addition of Bea Hansen have give rise to such questions as: "Is the supporting data representative of the population?" "Did the respondents feel pressured to answer in a specific way?" and "Did some respondent's answers skew the data as a whole based on their ownership of their respective company?"

The management at USA World Bank needs ensure individuals are not working corporate politics to his or her advantage when it could cause a loss of customers resulting in revenue reduction. Monroe and Wilson need to understand the sampling methods used and ensure the data being provided is representative of the population and if there were any possibilities of skewed data (such as population figures, paying members of a focus group, or a personal interest in the
company).

Don't forget that Monroe and Wilson need to ensure that the products being developed are representative of the bank's customer's needs and not based on the goals of management. USA World Bank must implement a process for generating product concepts while developing and marketing those ideas. When collecting and analyzing the statistical supporting information for new products, Monroe and Wilson need to make sure that the data collected ...

Solution Summary

The solution creates a business solution based on statistical methods.

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