Business Decision Making Assignment Example | Topics and Well Written Essays - 3000 words

Business Decision Making - Assignment Example While all the garden centres offer natural plants as the main product, there are a wide range of services and products that some garden centres offer customers. Some of the products that the organization’s competitors offer include fertilizers, small pets, outdoor furniture, and landscaping services and products. The Garden Centre Group which owns a total of 139 garden centres, for example, has a restaurant, plant shop, gardening club, and online shop as part of its package (The Garden Centre Group 2013). The group offers among other products, Christmas lights, bulbs, artificial Christmas trees, tree decorations, garlands and wreaths (The Garden Centre Group 2013). Customers seeking garden centre products are keen to find the specific kinds of products they desire. They are particularly keen on finding products that are of high quality which means garden centres must carefully choose what they stock (Watson-Smyth 2012). They are keen on shopping in an environment that is natur al, serene, and magnificent. Many customers prefer to buy unique herbaceous plants and certain varieties of clematis (Watson-Smyth 2012). ... The business can also get a good idea about the size of the market from which it draws its customers. Furthermore, secondary data may give the business a hint about where the customers in the market come from in terms of geographical locations. Yet again, the organization may be able to establish the demographic characteristics of market including the income levels, age range, culture, ethnicity, marital status and education levels of potential customers (acsbdc.org par. 3). Other characteristics that secondary sources may reveal about the customers and potential customers of the business include their lifestyle, behavior, attitudes, product consumption habits, trends, and loyalty to specific brands (acsbdc.org par. 5). Based on these set of information, the garden centre can establish different market segments. 1.2 Survey Methodology and Sampling Frame By conducting a market research, a business can get to establish what its customers feel about its products and services. This being the case, the garden centre needs to conduct a market research to establish what its customers feel about the products and services offered by the business. The customers can also give suggestions on how their experiences with the garden center can be improved. Data for a market research may be drawn from primary or secondary sources, or even both. The garden centre will rely on primary data to make inferences and decisions regarding customer experiences at the facility. While there are several methods of collecting primary data, the organization will conduct a survey featuring a sample of visitors to the garden centre. The population under study in this case will include the customers of the garden centre. The population in

Leadership Styles and Motivational Theories for Small Businesses Coursework

Leadership Styles and Motivational Theories for Small Businesses - Coursework Example Motivational Theories for a Small Business Maslow’s Hierarchy of Needs One of the best known motivational theories is known as Maslow’s Hierarchy of Needs. According to Abraham Maslow, human beings have some basic needs which occur according to the level of their importance. The lowest needs in the hierarchy of needs that must be met first include food, water, air, sleep, and sex. The next level after the first hierarchy involves needs such as safety and security, followed by other social needs such as self-esteem. The highest level in the hierarch has self-actualization needs (Hatten 2011, p. 415). Small business entrepreneurs should be aware that their workers will not always demand these needs in a similar manner and in the same order. There are instances whereby employees will be at different levels of needs in different instances. However, sometimes the needs may occur simultaneously. To cater to the varying employee needs, a variety of ways to motivate their behav ior are required. For instance, the use of money to motivate employees can pose challenges at the work place. In most small business environments, money is seen as providing basic physiological needs but not being important for the employee to achieve other needs in the hierarchy. ... ow’s theory helps entrepreneurs to learn that in the process of motivating their employees, they should recognize that people have needs that arise suddenly and continue to require attention until they are satisfied. Employees can have lower end needs that must be met before they concentrate on a higher level need. Employees must have good food, water and air before they begin to achieve social needs at the workplace. Socialization at the workplace cannot be attained when the lower end needs in the hierarchy, which are important, are not met (Miner 2007, p. 27). Herzberg’s Motivation-Hygiene Theory Another important theory of motivation in the small businesses is known as Herzberg’s Motivation-Hygiene Theory. Small business entrepreneurs can benefit from this theory since it states that the factors that produce job satisfaction are not the same as those that motivate employees to excel. Herzberg referred to the factors that cause employees to feel good about thei r job as job hygiene factors. Job hygiene factors such as safe working conditions and reasonable pay should be met at the workplace. In addition, the presence of these factors leads to contentment among employees but may not motivate them to excel. True motivation at workplace may require factors such as recognition, advancement, or job enrichment (Hatten 2011, p. 415). The most important aspect to consider in motivating employees for the small businesses is to know what is important to them. For instance, if the entrepreneur avails a motivational reward that is not appropriate to the employees, it may look like a form of punishment (Miner 2007, p. 27). Leadership Style for a Small Business Many scholars and leadership experts argue that leadership is the driving force of any organization. This is because