Need a research report based on the exact same format as given below on the company Padua. The research is in the field of expanding the market for company in Australia.
The story of the Padua started in 2013 with the Development of the Juno Desktop, a financial advice generation system under the leadership of Anne-Marie Esler the Managing Director and Matthew Esler, the Executive Chairman. (Refer to Appendix) Thus it is an independent “fintech” or financial technology firm which develops the financial solutions to support their financial activities. The brand promotes its unique products like Juno Desktop, ROMA online, and ROMA transaction management systems. Hence, the business produces a statement of financial advice to its clients who are associated with the brand's service which in term takes a multitude of data to formulate the best plan ahead to go with the projects (White & Bednar, 2011). In this assignment, the market of Australia and the value propositions it offers to the business of Padua is investigated. Here financial market targets, advertisements for the brand development for larger market coverage area been analyzed. The international market ventures are also open for the research to pursue the brand of Padua (Kurosu, 2013).
Any business has one core aim which is an expansion of their business pace and makes a make for themselves to develop the sustainability of the business processes in the long run. The objective if the modern day techniques are to develop the indirect, unstructured communication to formulate a wholesome picture which shows all the aspects of the construction of the most reliable technique of business operations (Park, 2011). To find out the perception of the business among the stakeholders are not an easy job as each may have their perspective, however, at the point of development or expansion, the answers should be similar since their interests with the business are entangled. There are many ways to assert the future business perspective and its strengths (Martínez-Ferrero and Frías-Aceituno, 2013).
The business has to have a clear idea of the offerings regarding its SWOT or Strength, weakness, opportunity, and threats that it faces making the needful changes in the internal operations of the business. The PESTLE or the external market analysis of Political, Economic, Social, Technological, Legal and Environmental aspects too have to be clear to make the right investment decisions. Padua too has to be aware of its pros and cons in the business arena where there are competitors, stakeholders, to make the right and needful decisions about the investments (Young, 2012). The money of the shareholders, as well as the brand repute, is at stake if it doesn't perform as it projects or do lack a contingency plan and fails to be successful. So the balance of the right strategy with right inputs and customization is needed for the business to be competent and sustainable over a longer period. Nevertheless, the business also needs to change and adapt to the new trends to be compatible with the expectations and predictions (Li, Ngniatedema and Chen, 2017).
Therefore, the manager has to choose among the many to find the right choice of research tools to get the necessary findings for the research. Such activities are very useful for the business in making projections about the future and its perspectives. The online trading and learning portals like Pauda is gaining new and new audience each passing day gone bye. This is due to the activity which they do and is in doing which ease of reach and offering making the distribution becomes easier (Grønhaug & Kvitastein, 2012). Further, the website also goes on to give or publish new jobs in various other businesses and sectors regarding position, experience, and skills required for the job. So the E-Financial career for the new and experienced professionals becomes easier to get with this specialized web portal to help the cause of Economic strategy formulation ways. The advertisements that the business gives via various media suggests the demands as well as the career path options for such e-finance professional in the business (Kregel and Kattel, 2012).
Offerings of Padua
The jobs that the business publish have a distinct flavor of the workforce they are looking for which encompass the knowledge of finance and Computer software backgrounds as the business specifications are. The growing demand of the business is obvious from the jobs posted for the current vacancies which are of a great degree of professional and experience wise needs to fulfill the business needs (Tarim, 2015). The other very major aspect of the business and its long-term aspect of market development is evident from the way they have developed the Corporate Social Responsibilities across the markets it is in. The green and environmentally friendly practice with a dedicated focus on global warming is a part of the business which has earned it a great deal of social repute among the people and its clients (Cousins & Robey, 2015)
Thus the business has taken a long-term strategy to develop the market and be sustainable in their operations. The business is developing in the nation, but its international approach seems bleak as the competitiveness of Australian businesses has slipped down making it a challenge for the business to convince the international audience about the offerings. Padua’s business has a diverse aspect of offerings which are finance, technology, planning software development for projects, education like a diverse field of business. The main offerings of the technology department are to give financial planning for the clients with advising software technologies. The license of the software is a major income for the business (Skolen and Paul, 2013).
The ROMA financial planning software was launched in 2016 making the business attract a diverse group of people who had finance and planning of it to be maintained by the software them by themselves for various reasons. For the inexperienced person, the stock trading had the leverage and trusted the software to make their money work in the markets for best returns on investments (Nolan, 2011). The proprietary software offerings of the brand of Padua is ROMA also called Roma Cloud which is financial trading prediction software. The para-planning unit of the business that aids in making the needful decision about a project which the business offered software breaks into pieces. Being one of the most desired brands for preplanning the bid for service offerings makes the brand have the edge over others claim to their specializations and proven backgrounds. The services and technology offered are unparalleled to the other businesses in the same business. Thus the brand is strong in its domestic market and has great expectations which it is perusing to oblige with (Sabrina Jahan, 2014).
The business also needs a transition support due to the growth of competition and technologies. This transition has to be brought in by the business to ensure that the best practices are in tuned with the needful processes which generate the maximum value in the business (Young, 2011). The offerings to the business that Padua has to offer are a financial service to the business which ensures that the business attains the business regulations for employee welfare along with the development of the same through its services. This makes the employment with the business more attractive and is seen as an employee friendly policy of working. The advisory to the management of the employee welfare like superannuation, Medicare, paid leave are outsourced by the business for its operational needs above all (Davenport, 2015).
The offerings are unique and are very much customized with the business and its objectives making the operations of the leaders easy regarding controls and monitoring. Cost effective solution for project development as well as the statutory aspects been looked into the leaders of the business may concentrate on the jobs at hand. Thus the implementation of the best processes that generates the best value, introducing better working environment and also ensuring the maximum utilization of resources are important along with the reduction of waste and high-quality delivery at all times (Chinomona, & SibandaVaal, 2012).
The businesses of Australia are gradually losing their grounds in the modern day competitive markets where the competitors are giving better solutions at an affordable rate. The offerings of the business of Padua are such which is also available in the other economies which are developed or are developing. The scope of international business can be generated by the business with a bit of change in their way of operations and offerings. The business may develop the mobile based apps for each economy where the tracking of the investments is made easy along with the predictions of the performance of stock in the market. It comes with a great degree of precision which may be connected to a central server in each economy to build the customized product for business offerings ((López-Cózar-Navarro, Benito-Hernández, & Platero-Jaime, 2017)).
However, the business also needs to keep an eye on the developments in the home markets as well to counter the challenges of threats in its market of the stronghold. The report of the Australian Government for 2016, department and survey makes the point clear with data. The Australian competence in the international arena is reducing rapidly affecting the gross GDP of the nation. The businesses of the day have taken suitable steps to make the possibility of new ventures, cost reductions along with technology adoption are made a part of the business activity to make the needed difference in the process of competence development (Industry.gov.au, 2017).
The brand has to be confident to be successful in the international market and convenience its stakeholders with a well-documented market research for particular markets where they find the business to prosper. For example, the use of mobile technology with the modern day people is ever increasing so the apps based promotion of the business in the new economies which are tied with the stock exchange of the day. The business investments in the international markets have failed in the past (Popescu-Zeletin, 2012). So the business has to learn from those mistakes made by the businesses in such markets and do what is right and befitting for the same. However, a contingency plan has to be maintained as well. The business has to first make up its mind in what sector of business it’s going to enter into (Hohenthal, Johanson, & Johanson, 2012).
The ventures in the international market may also have the dimension of tie-ups and cooperation with the local players who are efficient in making the difference with the market dominant substitutes along with a readymade market share in the new market (Padua Financial Group, 2017).
The business is diverse, and there are many aspects that need to be measured for the New South Wales-based business. The post-Modernism approach for the research is adopted where the findings are to be deductive in nature. The research would use primary as well as secondary or the already published journal reports to build the argument for the best findings in the research process. The audience who would be interviewed for the research is determined by the research methodology which again is based on the topic and the objectives of the research. Thus the design and objectives are designed to suit the propositions of the findings (Romi, 2011).
So the methods used would be secondary study along with primary study with the stakeholders in a qualitative interview over the Skype which together shall derive the answer to the question. The findings would be deductive from such process which makes the findings more unique in nature as it’s deductive and not inductive. This is a methodology that would ensure deductive findings for the research since the findings are based on research which is independent. So the inductive or the option which is already established makes it possible for the research do inductive results through research to consolidate upon it (Banalieva, & Dhanaraj, 2013).
The research would try to find out the ways in which the business can grow in the Australian as well as the international market (Robertson, 2012). So the findings are to be in line with:
- To find out the feedback of the Pauda from the users
- Develop the needed strengths to make it a pan-Australian business before going international
- The resources and inputs that the business has to have to make the objectives of growth and expansion on track.
The primary data are collected first hand from the various stakeholders like the clients, business managers, representatives of the business strategy team. They are recruited into the business to understand the prospects of the business and its viability in the market along with the future they seem to plan to achieve for the business (Weiner, 2011). The quantitative questions as in the problem statement are mentioned would be asked for a reply from the interviewees. These would be informal interviews over the Skype or in coffee shops to make the person feel comfortable to answer the questions and also add the needed details which they feel are important to mention. An elaboration of the expression makes the findings more comprehensive so the randomly chosen seven stakeholders would be interviewed to get their perspectives (Vollmer, 2013).
The secondary study, however, would be from the sources which have been published before for the research develops the findings of primary and secondary data in conjunction to make the findings more realistic. The deductions would be drawn from these two methods of research to get to the point to derive the findings (Guinn, 2012). The people interested in participating from among the targeted audience would be given a mail for the cause of the research where the assurance of their identity been concealed shall be guaranteed. Further, the random selection is another method where the fifth of each approval for interview shall be considered to have a set of 7 people for primary interview.
The limitations which the research faces are that the people who are interviewed or the secondary study results may not be the actual story of the business in the rapidly changing business world. The factors which are out of businesses control may affect its processes and operations which are not in the hands of the business to control. Further, the business refused to share its internal quantitative data for its business secrecy, so the qualitative and secondary studies were the only way out to do the research. Further, the research in regards to the business is not very readily available in the secondary sources so the primary data along with the secondary data of the sector and industry would be taken as the benchmark to develop the connections (Luthans, 2013). This may be a limitation as the precise results would be unknown in this case due to many considerations and hypothesis involved driving the findings.
A practical limitation for the business is to gather the most suitable human resources for the business of Pauda since the concepts, and its applications are new and need a great degree of multi skills to perform the jobs in the business. The limitations regarding the resources gathering for the job at Pauda is one of its greatest limitations which the business is facing head on with new vocational training opportunities for the new joiners in the industry to be able to do what they are expected to do (Latt et al., 2015).
The research would follow the ethical path in its course of action. No data received for the research would be used for any purpose other than education, and no monetary or any other illicit gains would be made from it. The names of the respondents would be kept silent to give their personal identity undisclosed for the promises been made of non-disclosure. Further, only the interested people willing to give the interview would be used for the data collection, and no pressure of any kind shall be exerted on them to participate. Those are few ethical considerations that the research has to abide by as it’s important to keep the processes ethical and humane in its purpose and approach (Margolin, 2013).
The data used for the research are mainly secondary and primary qualitative data which gives the findings. However, since the findings are more of an abstract nature, so the mathematical projection of graphs or pie chart is avoided in this case. The analysis is published as the interpretation of the understanding by the people in an explanatory form. The findings show that the people are keen to get into the new venture as the qualities of the business outputs are such which is very attractive for the young professionals of business management with computing expertise. The field is new as the concept is making it a hot dog in among such students to be a part of the new sector of Padua (Jian, 2012).
The business is new, and thus the needed changes in the business to achieve what it is aimed to achieve through such ventures are at its core. The collected date from the primary and secondary sources would be compared to get the findings, but the findings can't be projected in graphical form here as the primary data is not encompassing the quantitative questions that would fetch an answer. The research findings are reached with the analysis of the data received from the research processes. This makes the findings more precise as in the theoretical perspective where the assessment of the indicators has to be understood by the readers from the substance that is found through the research (Adcock, 2010).
The combined study of the research data would give the findings which would be the result of the topic research, and the people would get their answers in this form for the subject being researched. The recommendations for the better performance is developed based on the findings of the research processes. Hence the findings of the research are expected to show the rapid expansion of the business due to the use and advantages of technology used by the business making the brand venture into the domain with ease and is growing in the nation itself (Huson and Xie, 2013).
The business of Padua has to make up its mind regarding what business it should focus on the most in the coming days. The technologies are changing along with the competitors in the sector. This presents a challenge to the business. Where the success or failures are dependent on the way, the business has interpreted and forecasted the market. Therefore, the business of Padua may also venture into the international markets choosing the right market to enter to be successful due to lack of competition and investments to be made to grow and prosper (Randall & Sim, 2014). Nevertheless, the turbulence in the international market is one aspect which the business has to keep in mind before making the invest decision for international expansion. The home market and its stability have to be strong enough to make the migration to the different economy for new pastures have to be calculated. The research approach would be based on a deductive approach where the secondary study along with a primary qualitative interview for primary research data would be collected (Chang, 2012). The variables of the economies or the future indications, as well as updating of internal knowledge bank for best performance, is needed to give the best suggestion to the client in regards to investment and project outsourcing and advisory role generations.
The recommendations that the research derives from the findings makes up for the needful which the business needs to do for best performance in the long run. Technology is the basis of the business which is ever evolving across the globe with new inputs being brought in by engineers each day. The business has to be compatible with the business mission where they have to make the needed changes and adoption of technology to make the needful competence development over the competitors that it have on the market. The people involved in the business have to have a clear notion of what is happening in the market and its implications in advance to do the needful for best output of the business processes that have the value which subdues the competitor’s offerings (Eliophotou Menon & Athanasoula-Reppa, 2017).
The decision to invest in a market or to bring in a new change has to be such that it’s full proof and for that, the brand may take up the needful steps to stay and develop the long-term competency. Nevertheless, the contingency plan is also recommended as the predictions or forecasts are not always comes up with the same result.
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