Question

Company Z, in the manufacturing industry, was established 40 years ago and was very successful until recently. The company started experiencing decline in its profitability. Assume that you are employed in this organization and have been requested to carry out research to determine the problem affecting the organization. Develop a little of the problem which demonstrates causality. What are four different specific objectives you would use to guide your study?

a) Identify market trends
b) Analyze production processes
c) Evaluate financial management
d) Assess customer satisfaction

Answer 1

To determine the problem affecting Company Z, the four specific objectives to guide the study are: identifying market trends, analyzing production processes, evaluating financial management, and assessing customer satisfaction.

Step-by-step explanation:

To determine the problem affecting Company Z, the following four specific objectives can be used to guide the study Identify market trends This objective involves researching and analyzing the current market trends and dynamics in the manufacturing industry that may be impacting Company Z's profitability.Analyze production processes This objective focuses on evaluating the efficiency and effectiveness of the company's production processes to identify any issues or areas for improvement.Evaluate financial management: This objective involves assessing the company's financial management practices, including budgeting, cost control, and financial decision-making, to determine if there are any gaps or weaknesses that could be impacting profitability.Assess customer satisfaction This objective involves gathering data and feedback from customers to measure their satisfaction levels with Company Z's products or services. This can provide insights into any potential issues or areas where the company can improve to increase profitability.