STA101 – Statistics for Business

Instructions:

Students are required to cover all stated requirements.
Your answer must be both uploaded to Moodle in word file and handed over a printed copy.
You need to support your answers with appropriate Harvard style references where necessary.
Include a title/cover page containing the subject title and code and the name, student id numbers.
Please save the document as STA101AT1_first name_Surename_Student Number Eg: STA101AT1_John_Smith_NA20170000

Each of the following question worth 6 marks, please answer all of them. If needed please use Harvard referencing style. There is no word limit, but it is necessary that you provide answers with explanations.

Question 1:


Below are five questions from a survey of MBA students. Answers were written in the blank at the left of each question. For each question, state the data type (categorical, discrete numerical, or continuous numerical) and measurement level (nominal, ordinal, interval, ratio). Explain your reasoning. If there is doubt, discuss the alternatives.
What is your gender? (Male = 0, Female = 1)
What is your approximate undergraduate college GPA? (1.0 to 4.0)
About how many hours per week do you expect to work at an outside job this semester?
What do you think is the ideal number of children for a married couple?
On a 1 to 5 scale, which best describes your parents? (1 = Mother clearly dominant ⟷ 5 = Father clearly dominant)

Question 2:


Below are monthly rents paid by 30 students who live off campus. (a) Find the mean, median, and mode. (b) Do the measures of central tendency agree? Explain. (c) Calculate the standard deviation. (d) Sort and standardize the data. (e) Are there outliers or unusual data values? (f) Using the Empirical Rule, do you think the data could be from a normal population

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Business Strategy A Case Study Of Primark

Business Strategy A Case Study Of Primark

Introduction
In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.
In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy.

About the Book

This is a solution of Business Strategy A Case Study Of Primark in which we discuss Business Strategy.

Introduction

In this research, the researcher has incorporated with the various discussions related to the strategic management of an organization. Here, this can be stated that an organization has to face several challenges that are prevailing within the market. The market is highly competitive in nature and hence every company are focusing much on developing the marketing strategies that would enable them to cope up with the competition.

In this assignment, the researcher has considered the marketing strategy of the Primark. It is an organization, which deals with the trending fashion of both men and women. It is an Irish company having it’s headquarter in Dublin, Ireland. More Know About:- Computer Software Assignment Help

The company successfully operates in Belgium, France, UK, US, Austria, Ireland, etc. the company is now developing plans to introduce its products in India. As they are the new entrants in the market, they have to develop a well-defined marketing strategy. 

Mission, vision, goals, objectives and core competencies of the company

In this section, the Mission, vision, goals, objectives and core competencies of Primark will be briefly discussed:

Mission of Primark

To serve their ordinary folks with the opportunity to purchase the products as rich people but at low prices.

Vision

  • To be the first choice of the customers
  • Grab the opportunity to be the market leader
  • Proper training to the employees
  • To operate being customer centric

Goals and objectives

  • Offer customers with low price products
  • New innovated products
  • To be the first choice of the customers
  • Make strong marketing strategies to be the market leader
  • Operate sustainably

Core competencies

Develop strategies that would help them to be the market leader and to pose high competition in the market. The competitors are mainly Pantaloons, Zara and H&M (Alexis, 2012, p.67).

Factors contributing strategic planning

There are certain factors that contribute to the strategic planning of the organization named, Primark. According to Sadler (2003), it can be stated that strategic planning is considered to be the stepwise and systematic process to develop the strategy for an organization (Bravo, 2010, p.65). It was further mentioned, that there are three issues that contributes to the strategic planning which are mainly the detachment from reality, lack of ownership and dampening of innovations. 

Figure 1: Issues in strategic planning

(Source: Created by Author)

It is very essential to overcome the issues and to make suitable plans that would develop brand image of the organization.  Five major factors contribute to the development of strategic planning are mainly the Engagement, Innovation, Culture, Communication and Project Management. The development in these factors would help in better strategic planning for Primark.

Figure 2: Factors contributing to strategic planning

(Source: Created by Author) 

Effectiveness of techniques used for strategic planning

There are certain techniques that would help the management to develop a well- defined marketing strategies. For instance, the command planning is only applicable for small business, which has a stable environment (Cohen, 2011, p.61).Read More About:- Computer Systems Development Assignment Help

On the other hand, another technique that would help in strategic planning is the directive planning is only applicable for the large organizations having stable environment. In addition, the top- level management is highly involved in this planning.

The third techniques are the emergent strategy planning. The Primark mainly makes the use of the emergent strategy planning, as it is only applicable for complex organizational environment and mostly performed by expert teams or corporate strategic department.

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