Research for opportunities and threats essay

Here are some great sources for you to gather information for your timed essay on Monday

Car industry

http://www.tutor2u.net/blog/index.php/business-studies/comments/rolls-royce-cars-in-china-demand-for-luxury-sustained

http://www.tutor2u.net/blog/index.php/business-studies/comments/luxury-cars-and-emerging-markets-a-winning-product/

Luxury goods

http://live.wsj.com/video/louis-vuitton-gucci-lose-shine-with-chinese/912043F4-DAE7-4EDE-B9B4-030CC54271F5.html#!912043F4-DAE7-4EDE-B9B4-030CC54271F5

http://www.forbes.com/sites/kenrapoza/2013/06/27/sorry-louis-vuitton-china-no-longer-into-you/

Supermarket sector

http://www.tutor2u.net/blog/index.php/business-studies/comments/abandoned-shopping-carts-why-did-tesco-and-best-buy-fail-in-china

http://www.bbc.co.uk/news/business-24374863

Structuring a wow paragraph

In a wow paragraph you need data (economic and/or demographic), examples (compared and contrasted), business studies theory and some evaluation. Here is an example format for you:

 

 One of the opportunities offered by the Chinese market is the sheer size of the market (over 1.3 billion people) and an economy still growing at a considerable rate compared with most western economies (China had a 7.7% growth rate for 2013). In terms of Ansoff’s matrix China provides an opportunity for companies to pursue a strategy of market development. If we look at one specific sector of the Chinese economy, China’s luxury goods/car/supermarket sector is worth $*****  per year and is growing at X%. Company X has been able to take advantage of this growth in the market, and has pursued a strategy of differentiation in the Chinese market to great success. The specific USP which has appealed to Chinese consumers of Company X is ………………….. Consequently their results in China have been   …………………(DATA).  By contrast Company Y, seeking to compete in the same sector as Company X has been less successful as shown by its results  …….. (DATA)  The key reason for Company Y’s failure to take advantage of the opportunities provided by Chinese market is …………..(ANALYSIS)  Overall the key point which the performance of company X and Company Y tells me in relation to the question asked is (EVALUATE – EMPHASISE WHAT YOU SEE AS THE KEY POINT)

Eating the elephant

I have recently looked back on an article I had published in the Business Review last year on the research topic to see if there is anything that can help you with your revision. The article was called "Eating the Elephant". I have tweaked parts of the article to make it relevant to this year's research topic.

In your revision remember the importance of wow examples :- examples with real depth that would make the examiner go “wow, this student has really done some great research!” Rather than having dozens of examples against each bullet point look for a few really meaty examples against each bullet point (“wow examples”) which linked in with some business studies theory. The inclusion of appropriate counter examples can be especially helpful, particularly if you can explain the difference between the counter-example and the main example. For instance, if discussing a firm which has been able to take advantage of the great opportunities of the Chinese market, explain why a rival firm in the same sector failed. Why did Firm A succeed and Firm B fail. What were the critical success factor?

Business Studies theory

You now know a considerable amount of business studies theory and it is essential you don’t lose sight of that. BUSS4 is supposed to be “synoptic” i.e. it brings together the content of the other three units. Consequently, rather than treating the research topic as an entirely separate exercise, try to link the theory into your research whenever you can. For example, if talking about the motives for JLR's growth in China; why not bring in the fact Tata (JLR's owner) is a conglomerate business which, almost by definition,  has a strategy of diversification (Ansoff matrix: new products, new markets)

And finally ………….

 In BUSS1, 2 and 3 you have been taught business studies and have done well to survive the course up to this point. Your challenge in BUSS4, particularly in the research task, is to show the examiner that you “live and breathe” business studies. In other words, you need to convince the examiner that you have absorbed the theory and are able to come up with commercially-savvy answers of your own which you can illustrate with a handful of carefully chosen, detailed, real world examples. It may sound like a tall order at this stage; but with a measure of determination and organisation, students can surprise themselves with how well they can perform on the research topic.