Research proposal str 581

RESEARCH PROPOSAL 2

RESEARCH PROPOSAL 7

Research Proposal

UNIVERSITY OF PHOENIX

STR/581

Running head: RESEARCH PROPOSAL 1

Research Proposal

Business name: Weight loss Singles Dating Agency

The researcher has chosen to provide an investigative proposal for an existing industry of online dating. The business will be unique as it will be tailored to provide dating services only to individuals over the age of 18 years who have undergone any form of weight loss surgery and are interested in companionship. To ensure that the proposal of implementing this service is successful methodical examination must include the first steps of creating a business mission, vision, values statement, and people’s strategies, as well as alignment of these factors with the original strategic plan. Next, both external and internal environmental analysis is central to effective strategy creation as identifying sources used will ensure competitive advantage is maintained. The analysis includes the aforementioned thereby fostering a blueprint to create strategic value through optimization of resources available.

The following mission, vision, values statement, and people strategy has been proposed for this niche market:

Business mission

“To enhance the online dating industry by inspiring individuals to develop, nurture, and strengthen personal relationships with others who have a shared a similar weight loss journey.”

Business vision

“To create lasting and loving relationships through personal connections made possible by being the most customer-centric dating company in the weight loss industry.”

Values statement

· Love and companionship to those who have gone through a similar journey of weight loss surgery.

· Enduring customer relationships

· Connecting people to help him/her feel appreciated is the foundation of our success

People strategy

Because this will be a very sensitive service offered by the business, the researcher will ensure the staff worked with will be knowledgeable, has experience in the dating industry, well-trained, and highly motivated to serve the target market identified.

The company will hire enough staff to meet immediate requirements and any additions will be made after one year depending upon the number of clients demanding our services. The business will hire the most qualified staff in the dating industry at the lowest reasonable cost. The company will adopt a behavior standard of low tolerance for any unethical or illegal behavior among staff (Wallace, 2009).

The hiring strategy will be from within the industry because the staff will already possess the required skills and knowledge. Training and development strategies include support and funding in providing training and development to employees as a trained workforce is crucial to the increased customer service needed to maintain market share.

Alignment of Mission, Vision, Value Statements and People Strategies

In order to align the mission, vision, value statements, and people strategies to the strategic plan of the organization, the intention is to pay attention to those areas in the online dating industry that will pose potential risks to the maintenance and achievement of our goals. One such area is customer security and satisfaction. The core purpose of this business will be to improve the dating industry by providing companionship to interested individuals who are over 18 years and who have undergone weight loss surgery.

Because this is a unique and sensitive service, there will be an assurance of security and satisfaction to the potential clients (Wallace, 2009).

This will be achieved by developing a shared view of who we are as a company in the dating industry by making sure that all the staff employed have a clear understanding of the vision, mission, and values the organization is pursuing. A plan will be implemented on how the stakeholders will be utilized so as to achieve the intended purpose of the business. This will provide a clear sense of the direction and focus of the company. Analysis of the business environment surrounding the dating industry distinguishing the right action plans will drive the organization to achieve strategic goals identified that are in line with the mission and the vision of the business (Wallace, 2009).

Sources of External and Internal Environmental Analysis

Numerous sources including the use of research center data reports as well as a thorough examination of the industry will be utilized to identify external and internal environmental factors with the proposed business. Creation of a SWOT analysis must be included to examine the various opportunities and threats existing in the online dating industry.

External Analysis Sources

The following areas have been identified that need data sources to ensure efficient strategic planning:

Evaluate strategic position through:

· Assessment of the online dating market, customer base, and important markets

· Assess proposed business of online dating industry

· Assess the competition – How can proposed business differentiate from potential competitors?

The sources identified to perform this analysis will include market analysis of the online dating industry to include a cost structure, financial projections, and profitability analysis. Information about the market is an important source of analyzing the external environment as this provides insights in the market size, opportunities for growth, expenditure configuration, and key success factors (Menke, & Menke, 2012).

Data will be obtained from financial sites that currently contain information on competitors in the industry. Demographics, which include sites that can provide statistical information on weight loss surgery individuals, will also be examined to assess the market and proposed customer base. Industry sites will also be scrutinized to aid in the analysis of the motivations and the unmet needs of the customers in the dating industry.

Internal Analysis Sources

Internal environmental analysis will be performed by looking at the internal factors that can affect the business including:

· Availability of resources

· Physical assets / financial resources

· Human resources

· Intangible resources – Brand, product quality brand associations

In this case, employee capability will be an important aspect to consider, as well as the relative cost of introducing that customized service. Capabilities of the company in terms of the strengths, weaknesses and constraints will also be used to analyze the internal environment (Menke, & Menke, 2012).

Value chain analysis is another key component in identifying internal environmental examinations. This will include how the proposed business adds customer value.

Different activities through product differentiation, decreased product costs, and rapid fulfillment of customer needs will increase benefit and therefore demand of the proposed commodity (Pearce & Robinson, 2013).

Conclusion

The proposed business of an online dating service for individuals who have experienced weight loss surgery will provide a forum that promotes a connection through similar experiences. A creation of a mission, vision, and values statement ensures that all stakeholders have guidance on the purpose of the business and how the company strives to achieve this goal. Sources have been identified that will aid in both external and internal environmental analysis of the industry. This examination ensures that strategic value of the implementation is exploited to promote achievement of competitive market advantage.

References

Menke, W., & Menke, J. E. (2012). Environmental data analysis with MatLab. Amsterdam: Elsevier.

Pearce, J. A., & Robinson, R. B. (Eds.). (2013). Strategic management: Planning for domestic and global competition (13th ed.). New York, NY: McGraw Hill.

Wallace, Earl C. (2009). The Three-dimensional Leader: Negotiating Your Mission, Resources, and Context. Tate Pub & Enterprises Llc