Foundation Year Project

Classroom Rules

Be on time and be
Keep your mobile Ask only relevant
always prepared for
phone switched off questions during
your class. Bring your
or in a silent mode. teaching time.
laptop in class.

Be polite and
Do not interfere with
respectful of the
the teaching and
teacher, yourself, Always do your best.
learning of your
your classmates and
colleagues.
your institution.
Badges
 You demonstrate dedication and persistence in pursuing
GBS Graduate Committed to succeed your academic, personal and professional goals and
objectives.
Achievements You demonstrate the skills, attitudes and behaviours
Effective team member necessary to inspire, guide and lead others towards an
• Throughout your identified goal.
course, your workplace You demonstrate the skills, attitudes and behaviours
and your interactions Confident Leader necessary to inspire, guide and lead others towards an
with others, you will be identified goal.
gaining employability You demonstrate a professional mindset and readiness to
skills and attributes. Professionally Oriented apply your knowledge, skills and competencies in a
workplace and study context.

• At GBS we have badged You demonstrate an innovative and proactive approach to

these, so you will see Enterprising mindset identifying new opportunities, adding value and solving
these badges when you problems in a variety of contexts.
learn these skills, to You demonstrate global and social awareness through the
help you reflect on the Globally and socially ability to look beyond yourself and your own cultural
development and aware perspective and by being committed to making a positive
acquisition of these difference.
skills. You demonstrate competence in a range of digital
Digitally competent technologies and can apply these skills effectively, safely
and responsibly in a variety of contexts.
By the end of this session students will be able to:

1. Revise the Stakeholder analysis and apply it to their own business idea.

2. Understand the basic concept of marketing research, customers’ needs, wants

and demands.

3. Learn about market mapping concept and identify gaps in the market and apply
the concept while making a business research.
Assignments
Review
 Assignment – Business Research Project
Title Page SWOT analysis (400 words)

Table of content (Optional: list of Digital Application/Software (300 words)

figures, list of tables, list of appendices)

Introduction (500 words) Conclusion (200 words)

Management Structure (300 words) Reference list (see Reading list to link
to theory) – 10 minimum
Market research (800 words) Appendices (optional)

Business strategy (500 words)

 Stakeholder
Analysis

Material from Module 3 Week Two

What Is A Stakeholder?
A stakeholder is a person, group or organization that has interest or concern in another
organization (Boutilier, 2012).

Source: Zhou & Ouyang, 2020

 Stakeholder Analysis
Questions to help you understand your
stakeholders:

1. What drives them to your business?

2. What is their interest in your business?
3. What are they trying to get out of the
cooperation with you?
4. What is their motivation?
5. What is their current understanding of your
business?
6. If you can't win their support, what can you do
to stay in opposition and work towards one
goal?
7. Is their Influence on your business can affect
another fellow stakeholder?
8. What can you do to keep them interested?

Eden and Ackerman (2013): Image: SME Strategy

 Group discussion (15 minutes)
1. Profit/ return on investment
2. Bonuses / Wages How are the following decisions
3. Unemployment / Jobs / Redundancies affected by the stakeholders?
4. Success of the business What conflicts may arise?
5. Influencing the business
6. Working conditions Which stakeholders you need to
7. Value for money consult with when taking those
8. Local investment decisions?
9. Quality
10. Growth of the business
11. Level of profit/dividends
12. Who controls the business
13. Legislation/ Taxation
14. Supplier payment terms/ relationship
Marketing Research
Marketing

(Kotler, 2016)

Marketing is the term used to

describe collectively those • Marketing is making business
business functions most directly decisions with the customer in
concerned with the demand mind.
stimulating and demand-fulfilling • Customers are attracted and
activities of the business retained when their needs are
enterprise (Cundiff and Still, met (Kotler, 2016).
2012).
 Marketing Research
• Marketing research is the Marketing research focuses and
organizes marketing information. It
systematic gathering, recording permits entrepreneurs to:
and analyzing of data about
problems relating to the
marketing of goods and 1. Spot current and upcoming
services. problems in the current market.
• Market research will give you 2. Reduce business risks.
the data you need to identify 3. Identify sales opportunities.
and reach your target market at 4. Develop plans of action.
a price customers are willing to
pay.
(Kotler, 2007)
 Marketing Research
Examples of marketing research
activities:

• Analysing internal data (customer

records and purchases; historical
trends)
• Marketing intelligence
• Measuring of market potentials
• Market-share analysis
• Studies of business trends
• Short-range/long-range forecasting
• Testing of existing products
• Competitive product studies
Image: Lion Spirit Media (2023)

(Kotler, 2016)
Class discussion (15 minutes)
Discuss the following:

1. Have you ever been asked to give a feedback after you

purchased a product or service?
2. Were you happy to give this feedback?
3. Have you been unhappy with a product or service? How did the
company deal with your complaint?
 Market research
• Successful marketing requires timely • Market research will identify trends that
affect sales and profitability:
and relevant market information.
• Population shifts
• Marketing research is not a perfect • The local economic situation should
science because of the constant be monitored to quickly identify
buying behavioral change which are problems and opportunities
influenced by countless subjective • Questionnaires/surveys can
factors. uncover dissatisfaction or possible
new products or services.
• To conduct marketing research, you
• Keeping up with competitors' market
must gather facts and opinions in an strategies also is important.
orderly, objective way to find out what
people want to buy, not just what you
want to sell them. (Luck et al, 2002)
 Group activity (25 minutes)
Choose one of the following business Choose ONE per group:
sectors on the right and discuss: 1. Legal consultant
2. Accountant/tax consultant
1. If I open this business, who will be my
3. Payroll services
customers and potential customers?
2. What kind of people are they? 4. Bank
3. Where do they live? 5. Mortgage Broker
4. What is their income? 6. Business Advisor
5. Can they afford and will they buy my 7. Financial Advisor
product/service? 8. Insurance Broker
6. What do they like doing/hobbies? 9. Insurance Loss Adjuster
7. Are there competitors that offer the same
Tip: research National Careers Service
product/service? https://nationalcareers.service.gov.uk/job-categories/business-and-
finance
Activity ( 5min )

The systematic gathering, recording and analyzing of data about problems relating
to the marketing of goods and services is termed as?

A. Market strategy
B. Market research
C. Market approach
D. Market plan
 Examples of market research
• Analyze returned items.
• Ask former customers why they have
switched.
• Look at competitors’ prices.
• Market research can be simple or
complex.
• Simple: Questionnaire in your
customer bills to gather demographic
information about your customers.
• Complex: Hiring a professional
market research firm to conduct
primary research to aid in developing Image: Product Coalition, 2018
a marketing strategy to launch a new
product (Craig, & Douglas, 2001).
Activity (5 minutes)
Decide if the following situation a marketing problem or opportunity?
Awareness of your company and its products or services is Problem
low.
You are trying to launch a new product or service. Opportunity

The market is familiar with your company, but still is not doing Problem
business with you.

A new shopping center is opening soon. Opportunity

One of the products/services you sell is constantly sold out. Opportunity

Needs, Wants and
Demands
 Needs, Wants and Demands (NWD)
Needs Wants Demands Market Offerings
Human have many Wants are how People choose Some
complex needs: people products that combination of
• basic physical needs communicate with produce the tangible
for food, clothing, their needs. most satisfaction products,
warmth, and safety; for their money. services,
information, or
• social needs for People have experiences that
belonging, affection, almost unlimited When backed by are offered to the
fun, and relaxation; wants but limited buying power, market.
• esteem needs for resources. wants become
prestige, recognition, demands.
and fame;
• individual needs for
knowledge and self- (Kotler, 2016)
expression.
I am hungry
I am hungry
Need (example)
I am hungry
I am hungry
Want (example)
 Demand (example)
I know a nice Let’s eat at the
sit-down café at Uni’s canteen
the corner

Oh well, I can’t afford

the restaurant. I will
buy in a shop and
cook myself

Demand: what you

can afford
Class Discussion (15 minutes)
Decide how the following needs can be expressed as wants and demands by
different people:

1. Need a place to stay

2. Need to relax
3. Need to decorate the walls
4. Need to socialize
5. Need to be loved
6. Need to move to another flat
7. Need to store things
8. Need to be organized
9. Need to reduce risks
10. Need to safeguard one’s belongings
Business Strategy
Market mapping
Market map of airlines

Market mapping, also known as

perceptual mapping, is the process of
plotting competitor products on a
graph to visually illustrate a sector.
It does this by comparing two
competitive factors. The graph maps
your competitive position and can reveal
gaps in the market and how to position
the product.
(Jones, 2015)

(Image: Guerric, 2017)

Market map of car brands, by price-quality Market map of car brands, by perception

(Bellanger, 2014)
Market mapping

Market mapping can help business

to:
• Estimate future market
• Identify close competitors
• Assist with valuation analysis
• Determine business strategy
• Identify potential partners or
acquisition targets
• Recognize gaps in the market
(Jones, 2015)

(CB Insights, 2015)

 Activity (20
minutes)
This is a market
map of finance
related start-ups
in Thailand.
Identify similar
companies
working in the UK
market.

CB Insights, 2015
Case Study
 Case Study (25 minutes)
U.S. programmer outsources own job to China, surfs cat videos
Call it an amazing example of entrepreneurship or a daring play of deceit.

After a U.S.-based “critical infrastructure” company discovered in 2012 its

computer systems were being accessed from China, its security personnel
caught the culprit ultimately responsible: Not a hacker from the Middle
Kingdom but one of the company’s own employees sitting right at his desk in
the United States.

The software developer is simply referred to as “Bob,” according to a case

study by the U.S. telecommunications firm Verizon Business.

Bob was an “inoffensive and quiet” programmer in his mid-40’s, according to

his employee profile, with “a relatively long tenure with the company” and
“someone you wouldn’t look at twice in an elevator.”
Case Study (continued)
Those innocuous traits led investigators to initially believe the computer
access from China using Bob’s credentials was unauthorized – and that
some form of malware was sidestepping strong two-factor authentication
that included a token RSA key fob under Bob’s name.

Investigators then discovered Bob had “physically FedExed his RSA

token to China so that the third-party contractor could log-in under his
credentials during the workday,” wrote Andrew Valentine, a senior
forensic investigator for Verizon.

Bob had hired a programming firm in the northeastern Chinese city of

Shenyang to do his work. His helpers half a world away worked overnight
on a schedule imitating an average 9-to-5 workday in the United States.
He paid them one-fifth of his six-figure salary, according to Verizon.
 Case Study (continued)
And over the past several years, Bob received excellent performance reviews of his “clean,
well written” coding. He had even been noted as “the best developer in the building.” A forensic
image of Bob’s workstation revealed his true work habits and typical day:
9:00 a.m. – Get to work, surf Reddit, watch cat videos
11:30 a.m. – Lunch
1:00 p.m. – Ebay
2:00 p.m or so – Facebook and LinkedIn
4:30 p.m. – Send end-of-day e-mail update to management
5:00 p.m. – Go home
The Verizon investigation suggested Bob’s entrepreneurial outsourcing spirit stretched across
several companies in his area – netting him several hundred thousand dollars a year as he
paid out about $50,000 a year to his China-based ghost writers, according to hundreds of PDF
invoices also discovered on his work computer. Verizon’s Valentine told CNN via e-mail that
Bob “was in fact terminated at the conclusion of the investigation.”

(Inocencio, 2013)
Class discussion
1. Do you think what Bob did was legal?
2. Do you think what Bob did was ethical?
3. If you were the business owner, would you be happy with Bob?
4. Bob was fired – and unlikely to be hired as an IT specialist again. Do you
think he deserved this?
5. Why do people cheat?
What is AMC
Academic Misconduct

(GBS, 2022)
 Academic Misconduct

No formal penalty

Awarded 'Refer'
Resubmit + Pass
Retake the Module

Withdraw

(Adapted from GBS, 2022)

 AMC
Academic misconduct

➢ Less than 30% similarity in total

➢ You should have less that 15 to 20% before submitting, the percentage increases after few
hours

➢ When you are caught with AMC

➢ You will be invited to defend on a teams call or face to face
➢ You will be asked to rewrite the work
➢ You will be required to resubmit within a limited time
➢ You are at risk of failing the module
 References
• Eden, C., & Ackermann, F. (2013). Making strategy: The journey of strategic management. London:
SAGE.
• Mark-Herbert, C., von Schantz, C. (2007) Communicating Corporate Social Responsibility–Brand
management. EJBO Electronic Journal of Business Ethics and Organization Studies, 12.
• Kotler, P. (2016) Marketing for Hospitality and Tourism. 7 edn. Pearson.
• Bellanger, S. (2015) Marketing Audit of Renault and Volkswagen. Available at:
https://rockstarsbm.wordpress.com/2014/11/23/perceptual-maps/. (Accessed: 6 January 2024).
• Inocencio, R. (2013) ‘U.S. Programmer Outsources Own Job to China, Surfs Cat Videos’. CNN Business.
Available at: https://edition.cnn.com/2013/01/17/business/us-outsource-job-china/index.html
(Accessed: 6 January 2024).
• GBS (2022) Academic Good Practice and Academic Misconduct Policy and Procedure. Available at:
https://globalbanking.ac.uk/media/ffflpuys/gbs-academic-good-practice-and-academic-misconduct-policy-
and-procedure-bs-rm-dp-v3-0-vfinal.pdf (Accessed: 6 January 2024).
• Craig, C. S., & Douglas, S. P. (2001). Conducting international marketing research in the twenty-first century,
International Marketing Review, 18(1), 80-90.