This is a class paper needs some revision it is lengthy but I hope that it enlightens some
Introduction
With greater influence on being intuitive and ingenuitive, the next big step could be a
breakthrough. And with more markets on the verge of shutting down or in the middle of a
financial crisis, I believe the Frameworks and methodologies taught here within this class may
only begin to solve some problems that occur in any sector. With noticeable changes in income
from major companies and nonchalant discussions about what a major organization may do
about environmental factors or competition. These issues have made my opening statement
almost redundant and that, however, is the purpose of this paper. To create a problem statement
or use any of our past post to describe and discuss a problem in the economy/workforce in detail.
I plan to use a theoretical methodology to describe a workplace problem while discussing
research methods that can be used to study or solve these problems. This will be done while
elaborating on current business trends and opportunities and stating why this is a necessary
study.
To emphasize my words, I used Schumpeter as a example to describe the business cycle
from his theory on business. He studied the great depression (Dal Pont Legrand, 2017) Using a
theory called “Creative destruction” His theory based on the depression era, simply states in my
own words that in order to build they must destroy. Or according to his theory that the
“liquidation and reallocation of important economic resources may have damaging economic
consequences in the short run” Examples are the immediate sale of whole inventories or large
downsizes from a company. This is an example of Schumpeter’s research theory and based on
that theory it is part of the Business growth cycle. Another similar article was “An Intimate
Inventory of Race and Waste” which is set in early 1900s Carolina and depicts political issues
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about race and how a town has become vital to the economy during times of new societal factors
and issues of environmental hazards. (Vasudevan, (2021))
I also used (Acollea, (2020)) book because it discussed how the recession has effected
the European economy. I feel that this is an appropriate reference because I believe the need to
effectively downsize will make us more efficient and environmentally stable. Cutting costs by
reusing items, or finding ways to create more jobs in the green sector. That in turn may decrease
the likely hood of repeating a similar economic collapse.
Research methods Bayes and myself
So, as I stated in my introduction this is an age that calls for more ingenuitive processes
and intuitive businesses if organizations are expected to thrive. This is why I am choosing
inventory management as one of the problems that I will address. I feel that with effective
resource allocation companies can be decisive and deliver goods while reducing waste. Moving
on
For the assignment that was given a couple of weeks ago. We were to choose a problem
within an organization, this problem was to be discussed using research methods. I used a
reference that is considered outdated but had a good research clause. Bayes Null hypothesis
(Morey) but for this paper, I chose an updated version of the scientific study and only use its
findings to strengthen my thoughts in scheduling and inventory selection. (Rouder, 2019).
My hypothesis was that the size of the inventory may be adjusted to fit what work I did
and then study any changes in consumer expenditure. Over time I believe this system may have
aided in how I was to work in comparison to what items were set for clearance and what was
forecasted to be placed on sales. As a part of that assignment, I chose to create my own research
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technique. My testing went as this (1). Form hypothesis/variable (a) (Inventory size) and
hypothesis/variable (b) (scheduling and forecasting), stating what either could be expected to
change. (2) use each theory or hypothesis/variable (A, B) works to find the results. (3) compare
results (4) form a conclusion. Then Use Bayes Null hypothesis theory to test the variables.
Conducting the same research to record any changes in data. “The Bayes factor will usually be
biased against or in favor of the null hypothesis.”
Flexible job scheduling and not a research
Because I consider myself the null, I feel this study could determine outcomes for similar
situations or employees. I wanted to find other techniques involving scheduling and found a
source of information. This reference describes automated processes and the reintegration of
humans. Re-Integration because this book draws from a manufacturing process that included
machines. This book describes sustainability and the environmental effect of greenhouse gasses.
Referencing (Candice Destouet, 2023). “this relatively rapid transition from I4.0 to I5.0
is driven by the ever-changing customers’ needs and aspirations and the new economic, societal,
and environmental pressing challenges worldwide.” definition of 14.0 is within the quotation
marks, “I4.0 combines revolutionary new information and communication technologies (ICT)
with real-time production and virtual simulation approaches to make operations management
increasingly efficient.” (Candice Destouet, 2023) “15.0 is a focus on decisive factors”. In my
own words making the understanding of the human component in scheduling and forecasting
necessary to understand not just this sector but others as well. The importance of my research is
based on not just the human condition but also the reduction of Waste and environmental
hazards.
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Problem statement Theoretical approach.
For the next assignment the class was to use problem statements and using these
frameworks I was able to (1.) frame the problem then (2) Make clear the importance of
understanding the problem. Similar to what I just discussed I am again choosing scheduling in
connection to inventory management. In part uncovering the need to understand why the study of
waste reduction matters. To describe this, I want to use reference material for iso standards and
use an effective problem statement.
So Step two of the theoretical framework says to explain why this is necessary research, I
would state it in this manner. “With the proper CSR standards and ISO management our
organization could become a leader in our industry. Setting goals involving strategic allocation
of resources the company may become an example of best practices and be a revenue leader.
Doing this by using forecasting techniques more suited to consumer needs. By using past records
of commerce and staging experimental inventory sizes the organization may be able to illustrate
this to other companies. Learning to adapt in the market, control and, aid human expenditure
spending. The study itself will not have immediate cost but if left unchecked the organization
could face future fines from OHSAA and other regulatory committees.
ISO standards.
ISO 14000 is “A series of voluntary standards in the environment field whereby a firm
minimizes harmful effects on the environment caused by its activities and continually monitor
and improves its own environmental performance” (Fred R. David). This type of innovative
process will be the future of “smart companies and energy” I believe and as an example, I
referenced the published article (Seybold report: Analyzing publishing technologies, (2021)).
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This article mentions the Sustainable green printing Partnership (SGP)
a non-profit organization “certifies printing facilities’ sustainability best practices.” the article
further discusses Monadnock who is also a leader in that industry. Who Has made many
environmental successes under a “third-party certified ISO 14001 Environmental Management
System.” Another example of this being a rising trend is Microsoft’s Carbon initiative which will
try to lessen its carbon footprint and said it will be carbon negative by 2030. Making it clear that
Iso 14000 management is a major part of large companies and CSR management systems.
Problem statement and research combined.
Now having described the need for the research to be done and presented one type of
research. I believe now it has come time for any concluding statements about the combination of
the research and problem statements. I used the scientific method and backed it up using the
Bayes null hypothesis, I deducted that with me using this strategy I would be able to test my
hypothesis against another. This I would do to see which method would best suit for fixing the
problem. The problem statements themselves better described how inventory was a problem and
why it should be researched. Thus, making it possible to research a topic and have a description
of the issue.
Business research trends
Next, were the business opportunities and albeit a bit different from discussions about
inventory and research. I decided to find an article that had material covering forecasting
techniques. (Zhang, (2023)), who have deducted a study based on online stores. This study is not
the same as inventory management by a traditional store. Online stores in my opinion usually
have greater amounts of variety and services. Online stores definitely may not have to find ways
to better manage inventory.
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This research speaks about how to find data to better forecast customer wants. The
abstract states,” This study aims to improve the management efficiency of e-commerce platform
and assists merchants on the e-commerce platforms in formulating a suitable sales plan
urgently”. I feel that this study is not as urgent for an online store. I feel that in contrast, it may
be the customers’ overall awareness of a e-platform that might be worth studying. Noting that
many customers find things from searching generally.
I wanted to see just what type of research was being done to find the data. The article
states, “the forecasting methods are summarized into two categories: qualitative and quantitative
forecasting”. Believable because much research is done that way. The article describes the
advantages of doing both quantitative and qualitative research. The journal described that
qualitative research could determine the price influencing factors”. I add that this is similar to
what I noted should be studied using my research technique. Also describes the usefulness of
“pure data or numbers” When using quantitative research.
Thoughts on the data mining technique
The article has described some similar research in detail but not for a traditional store but
an e-platform. The article does not compare the need for waste reduction but instead describes
the need to find consumers’ interest. The article states the need to better forecast and does not
really discuss any societal factors other than consumer spending. This research trend or
opportunity correlates with the study of shoppers but is not the same as economic conditioning or
CSR.
What I feel after discussing the article is that more focus should be done to discover how
to effectively study shoppers. Using similar techniques as the “Data mining” the article
describes, traditional stores may be able to implement new practices. Effectively downsizing the
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inventory matching consumer spending and adding new commodities. Creating effective variety
that the consumer may see value in. Instead of useless spending that creates millions of dollars in
waste.
Business research trend “Serious games”
The final business trend is one that I described in a class discussion. Involving the study
of the market using a sourcing game to help students understand the supply chain. This game
considered a “Serious game” may not be the only game of that type and could be a part of an
emergence of educational tools for marketing (Gumus, 2013) that is if you do not consider games like
Monopoly. Like Milton Bradleys’ or the parker brothers’ games like “Monopoly” or “Life” which imitate some
of the practices of the real world based on scenarios or circumstances. Can this be effective in teaching the
market?
Will there be a way to describe the outcomes of political debates that will at some point force you to
adopt a new practice?. Then change again having to meet standards of the industry based on fluctuating
incomes. Then change again to meet standards of the industry based on Competition. All of this placed into a
game. At one point we had numbers “munchers “that and “Oregon trails”, games that showed speed and
accuracy in math (numbers munchers) and “Oregon trails” a game that showed consequence in choice but
helped with literacy and math. Both of these games used are and played often in childhood development.
Conclusion
As these trends evolve will the corporate world develop games that are meant to teach strategy to its
employees?. Developing the cost/loss cognitive in them and teaching to make key decisions when asked. The
blend of the classroom element is not present in the workplaces I have experienced. Making this trend a sign of
hope to people like myself that have seen the abandonment of the curve. A large portion of coming
entrepreneurs will have been dislocated workers at one point. Making this study a worthwhile reference in my
opinion.
In closing the necessary research needed to create positive change will be needed. From data mining
techniques to regular questionaries’ at a store location to find results. The important topic will then be can
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organizations find a balance in “Green effect” and money. Using revenue to identify the problem areas and
effective resource management. Or it will only seem as if companies are just looking to fatten their pockets,
making CSR non-existent at that point. The goal of my paper was to identify a problem and elaborate in detail.
I believe I have done this and can conclude with that thought