A local shoe store has declined in sales in the past few months. The owner has made no changes to the store in the last year. In the beginning, the owner thought the sales drop might be seasonal. However, looking at the sales data for the past few years, the owner noticed that there had not been any decrease in sales during the same time in the previous years. He hired a market research group to investigate the business problem and offer a strategic solution. Based on the above scenario, answer the questions below: 1. What are the two types of business decision problems? What type of business decision problem are you probably looking at, and why do you think so? (Limit to 200 words) 2. Now, formulate it into a research problem and construct a box and arrow diagram to break down the problem and identify possible factors that you can look at in more depth to offer a viable solution. NOTE: When answering question 2, it is crucial to keep in mind the following: (1) the direction of the arrows, (2) The hierarchy of the constructs/variables that you put in the boxes, (3) The importance of the constructs/variables in the last boxes in the diagram.
A local shoe store has declined in sales in the past few months. The owner has made no changes to the store in the last year. In the beginning, the owner thought the sales drop might be seasonal. However, looking at the sales data for the past few years, the owner noticed that there had not been any decrease in sales during the same time in the previous years. He hired a
1. What are the two types of business decision problems? What type of business decision problem are you probably looking at, and why do you think so? (Limit to 200 words)
2. Now, formulate it into a research problem and construct a box and arrow diagram to break down the problem and identify possible factors that you can look at in more depth to offer a viable solution.
NOTE: When answering question 2, it is crucial to keep in mind the following: (1) the direction of the arrows, (2) The hierarchy of the constructs/variables that you put in the boxes, (3) The importance of the constructs/variables in the last boxes in the diagram.
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