Explaining the purpose statement and significance of the research in the research assignment
Question
Task: Can you develop a problem statement based upon the loss that the retail industry has received due to the outbreak of the pandemic in your research assignment?
Answer
Problem Statement
Due to the spread of the coronavirus pandemic, businesses around the globe have been immensely impacted. The retail industry can be stated to be the one that has been most affected. Since the outbreak of COVID-19, there has been an exponential alteration in the external environment that is based on the retail industry. This aspect has been significantly observed in this research assignmentwhich states it to be immensely challenging for the strategic management in the company or lead to the shutdown of the organization. As stated by Kalogiannidis (2020), there have been several retail stores that got closed during the outbreak of the pandemic in order to avoid the transmission of the virus. During the pandemic, the online delivery of products has been more prevalent. Also, the purchasing style of the customer got changed as well. As the percentage of online purchases hiked, the requirement for digital management and the online channel also got enhanced.
Purpose Statementof the research assignment
The research assignmentwill be initiated to find out the loss that the retail industry has received due to the outbreak of the pandemic. Further, the research assignmentwill state the alternative way that the retailers have found to initiate their business. Also, the reason behind several retailers have adopted the changes and transformations and some still have been rigid will be evaluated. The advantage the retail industry is getting and also the lying opportunities of transferring the business into the digital medium will be underlined. In order to understand these aspects in a better manner, the researcher of the research assignmentwill be conducting a secondary qualitative research methodology. A thematic analysis will be conducted for analyzing the significant sources of the research.
The researcher of the research assignmentwill further choose a descriptive research design in order to implement the research in an appropriate manner. In the thematic data analysis through descriptive research design, the researcher will be able to collect data related to previous research articles and journals that are based on the statement of the research (Gale et al. 2013). The researcher of the research assignmentwill be choosing interpretivism as the research philosophy through which he will be capable of interpreting the factors of the research. An inductive research approach will be opted by the researcher for gathering significant solutions to the research questions. Collecting secondary has an intense role to play as the researcher will be able to gather information from sources that are already peer-reviewed and authentic.
Significance of the Study Section
The research assignmentwill help in finding solutions for the research questions prepared. The study will help in understanding the way the digital medium will help the retail industry to foster its business. The research assignment will signify the opportunities that lie in the digital space of doing business for the rigid retailers who do not wish to upgrade themselves (Mostaghel et al. 2022). The aspect of innovation through digitalization needs to be included in this research. The completion of this research will ultimately state the reasons based on which the hamper the retail industry had after the outbreak of the pandemic can be understood.
Reference List
Gale, N. K., Heath, G., Cameron, E., Rashid, S., & Redwood, S. (2013). Using the framework method for the analysis of qualitative data in multi-disciplinary health research. BMC medical research methodology and research assignment, 13(1), 1-8. https://bmcmedresmethodol.biomedcentral.com/articles/10.1186/1471-2288-13-117
Kalogiannidis, S. (2020). Covid impact on small business. International Journal of Social Science and Economics Invention, 6(12), 387. https://www.researchgate.net/profile/Stavros-Kalogiannidis/publication/347524972_Covid_Impact_on_Small_Business/links/5fe101a0299bf14088331a61/Covid-Impact-on-Small-Business.pdf
Mostaghel, R., Oghazi, P., Parida, V., &Sohrabpour, V. (2022). Digitalization driven retail business model innovation: Evaluation of past and avenues for future research trends in the research assignment. Journal of Business Research, 146, 134-145. https://www.sciencedirect.com/science/article/pii/S0148296322003095
