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Unit 11 Planning Permission and Property Developers Research Project
Diploma in Business
Unit Number and Title
Unit 11 Planning Permission and Property Developers
Research Project Description
This Unit 11 Planning permission and property developers research project assignment is on the challenges faced by real estate organizations how to speed up planning permission application and managing the huge amounts of data so that they can provide the products matching their needs and demands and maintain their competitive position in the industry. This is a complex situation as the competition is high in this industry and the customer loyalty is not easy to gain. The large data is not easy to maintain and the buying patterns and behavior of consumers are required to be tracked. This report analyses the solution of this problem which has been identified through a research and different innovation and technical tools are used for reaching to a solution which can be used to solve this problems and is good for a sustainable environment. It is identified that in real estate industry that analyzing and seeking permission and to maintain the competitive position of organizations in the industry but is challenging due to continuous change in the demands, trends and thus, change in data. It is important for real estate organizations to match products with the customer’s desires and provide them an exceptional experience with the company. One more problem with the real estate organizations is to maintain basic operations like marketing planning and seeking proper permissions or taking care of maintaining competition in the industry so that they can make shopping experience enjoyable for the customers. These problems in real estate industry needs innovative technology and tools which can solve these problems for the organizations and helps it in meeting the challenges well to grow in future (Hamilton, 2014). Technology has improved and transformed the business of retail organizations and also helped in solving the problems of many other industries as well. This research analyses different innovation tools which are helpful in meeting the challenges of the retail organizations to maintain huge data and to be at competitive edge in the industry. These innovation tools can be brainstorming, stakeholder analysis or research and development which help in doing analysis of the different techniques for the implementation to meet the challenges.
Research Aims and Objectives
- Aims - To investigate successful innovation tools for solving the problems of how to speed up planningpermission application.
- Objectives -Real Estate is one of the significant and major industry in UK and its business revolves around huge data which has to be maintained for providing services and earning profits. It is very complex to mine data in retail industry which is to be used for developing strategies by the companies so that customers can be retained and acquired. They need to track the huge data for analyzing the buying habits, demands and trends in the market so that they can rely on that to provide services.
Factors that contribute to the process of research project selection
There are various innovation tools which help in identifying the techniques and approaches which are helpful in providing solutions for the problems of real estate industry discussed above. The plan is discussed in this report which contains the details about how the research will be carried out and what will be the sources of information for the same. The tools are evaluated below on the basis of their suitability for solving the problems of retail sector.
Planning permission with machine learning is the modern technique or can be referred as Artificial Intelligence which makes the machines capable to learn by themselves the changes in the data. It also helps in analyzing the data and transforming the world by solving the complex problems which were not solved yet.Planning permissionwith machine learning are applicable in industries like Manufacturing, retail, health care and life sciences, Travel and hospitality, financial services or energy sectors. It helps in continuously learning and improving the activities of the organization. Planning permission with machine learning has become widespread and the organizations are using it in different ways. It is used for variety of reasons like for improving the cyber security of the organizations, for controlling and monitoring the employees in the organizations, for predictive maintenance of machines, for achieving success in appropriate segmentation, targeting and positioning in the retail stores, for proactive health management in the healthcare organizations and there are many other reasons. Machine learning can be considered as the backbone of the retail applications in future as it is capable of handling the complex problems of this industry in the most suitable way (Wong & Guo, 2010).
Planning permission with machine learning helps in providing seamless customer experience and makes a balance between the costs and profits of the organizations. The retail organizations have a big opportunity to improve its positioning of products and interactions with the customers. For e.g. when on a website a customer search for a bag, a section is displayed which showed what others searched for. This is to guide the customer and to make his shopping experience better with the company so that customer loyalty can be built and organization can flourish (Mackenzie, 2015). The real estate organizations require managing and processing large volumes of data to handle such a dynamic environment. There is a technique or tool named as Big data which is enabling innovation for the retail organizations and manages the structured and unstructured data, deliver it on cloud and solving the functional problems of the company. This technique helps in improving the marketing functions of the company and enhancing the business performance.
Big data tool is the next frontier for innovation. It drives more amount of revenue for the business by enhancing the marketing channels. It also helps in minimizing the costs and creating a good product mix for the companies. It makes the operations of the business efficient and standardized which leads to cost saving and better performance of the organization. It helps in maximizing the return on Investments too. Big data tool facilitates management of inventory and helps in negotiating with the suppliers. It enables the business for making pricing decisions. The tool helps the companies in leveraging data along with the data of partners, competitors and others which enables the creation of new business models. The Internet of Things (IoT) is the transformational technology in retail industries. It helps in bringing competitive advantage to the business and more return on investments can be earned. This technology collects and analyses the data so that necessary actions can be taken for filling up the stock at adequate levels. This enables the retail organizations to meet up the challenges of dynamic environment of business. It is bringing new opportunities to the business and enhancing the customer service by the organizations. The companies are adopting this technology quickly because it is enhancing the customers experience, improving the supply chain of the business and opening new channels for revenue generation by connecting different resources.
Stakeholder analysis is the systematic tool to analyze the interest and influence on the stakeholders because of the actions taken by the firm. It shows which stakeholders are most important for the organizational and which are least important. The retail organizations have following stakeholders which influence its decisions. These are customers, employees, owners, suppliers, competitors, societies and environment. Government is also an important stakeholder because its decisions reflect in the activities of the firms. A matrix is made in this analysis which shows that what are the interests of the stakeholder and how they are prioritized by the companies in order of their significance.
In the above given stakeholder analysis matrix, the interest and powers of stakeholders are analyzed. There are three columns and rows with the high, medium and low influence or interest. The interest and impact are categorized into Key or important stakeholder, least important, show consideration and meet their needs quadrants are there.
- Meet their needs: These are the stakeholders for whom the company needs to meet and consult on the interests. The company tries to enhance their interests and aim to bring them into the important players. Employees can be the example of this group.
- Key player: These stakeholders are those who govern the company and make decisions which are best suited for the company. They involve with each other and consult with each other at regular basis. Directors and owners can be the example of this group
- Least important: these are the least important group members who are communicated through newspapers or emails and the company aims to move them into the group which is considered most by the company.
- Show consideration: This group of stakeholders is involved in low risk areas and they are kept informed about their interests. They are the potential supporters and manage the image and reputation of the business.
It is important for the business to identify the key players so that the firm could see the success because they have high interest in the organizations and they support the organizations.
Research methodology is the section of the research project which consists of the major significance. This section discusses the methods through which the research takes place. The data collection methods and the tools for the analyses of the data are included.
- Research Design: The research design is qualitative and quantitative both, so it is a mixed type of research because both the approaches are used over here. The quantitative information is collected through questionnaires and observation of the reports of performance of the organizations and the qualitative information is collected through different websites and journals.
- Data collection: Data for the research is collected through primary and secondary sources. Primary sources are those which give the raw information which has not been used before and secondary sources are those which provide the information which is already used by others. Both the sources are used together to attain effective results and conclusions of the research.
Here, in this research, the primary sources are the questionnaires and the secondary sources are the websites and journals. The qualitative information is collected through secondary sources and quantitative information is collected through primary as well as secondary sources. The research will be undertaken within the industry of retail and the data collected will be analyzed to get the conclusions i.e. to choose the best tool which helps in meeting the challenges.
The products of innovation have been successful because it minimizes the risks and derive success for the organizations. These tools are being used by most of the companies worldwide and people feel easier to adapt to these tools. These tools achieve the goals and objectives of the business and connect people to derive solutions to the problems. But the implementation of these tools is very challenging as they have to be tested at first before implementing those, it is to be checked whether they are appropriate for facing and solving the complex problems of the business or not. Some of the successful innovation tools are Brainstorming, Research and development and stakeholder analysis. Stakeholder analysis is taken as the most successful innovation tool to implement the innovation technique in the company. Stakeholder analysis is the technique which identifies the groups which are related and are affected by the business and the actions are taken for their benefits and their future. Stakeholder analysis is done through a matrix which shows the impact of the stakeholders on the actions of the firm and the impact of the actions of the company on the stakeholders. It classifies people and their influence on the activities of the company.
Compilation and Approval