Research Analyzing Business Problem
1. A fishbone diagram is a visualization tool that categorizes the possible causes of a problem in order to discover its root causes. The Ishikawa diagram dissects the problem and places the possible causes in writing. This helps in rating possible causes in a group together with their level of importance by placing them in the hierarchy diagram. The basic steps in creating a fish diagram are five: creating a head (which contains the problems to be studied), creating a backbone (the straight line that leads to the head), identifying the causes (connect the causes to the backbone), drilling down the causes and analyzing the problem.
2. Convergent thinking is having many ideas or pieces of information concerning the problem and using them to form a solution whereas divergent thinking starts with personal unique ideas that we use to generate solutions. Combined use of both ways of thinking will help solve problems from all angles. Convergent thinking might be used in situations where the problem is not constrained heavily by regulations while divergent thinking is suitable in structured situations.
3. Primary research makes use of data that has never been collected before whereas secondary research is the analyzing of information that has already been collected. I would recommend collecting data and analyzing the type of foods that are mostly consumed by people in the region. In order to gather information, I would use questionnaires as the basis of my data collection.
4. According to the Bureau of Labor Statistics, prices of finished goods reduced in 2013 (Economic News Release 1). According to the Bureau of Labor Statistics May 2012, groups were formed in Oregon on wage basis. The bureau analyzed every employee’s level, occupation code and the medium wages they received hourly and yearly. Human resource specialists received a medium of $43.25 per hour (May 2012 State Occupational Employment and Wage Estimates Oregon 1).
5. Sysco Corporation is a company involved in marketing and distributing food products to restaurants, healthcare and educational facilities.
6. Sysco Company approved its quarterly dividends of 28 cents per share that would be paid in October 25 2013. It made its 18th share repurchase on 4 October 2013.
7. The company intends to use five strategies in order to achieve their mission and vision. They include:
- Enriching the skills of doing business profoundly
- Improving the company’s business in all areas on a continuous basis
- Expanding the company’s range of products and services through a consumer-centric improvement program
- Exploring, assessing and pursuing new markets and businesses
- Increasing and integrating a complete, enterprise-wide ability management process
8. Sysco Company’s ending date of the last fiscal report was on 29 June 2013. It had total revenue of $36.85 billion.
9. It has a current ratio of 2.1 (Sysco Current Ratio (Quarterly):1.656
for June 30, 2013 1). This means that the current assets are twice as large as
the current liabilities. Supervalu company current ratio is 1.093 while the
Core-Mark Holding is 1.846. Comparing the three competitor companies, Sysco
Company has the highest ratio, which means that it is leading in business. Hence,
the Sysco Company would fit in the best position to deal with in business downtown
that lasts between six to twelve months. This is because the company is making
more profits than losses.
“Economic News Release.” Bureau of Labor Statistics. 29 October 2013. Web. 31 October 2013.
“May 2012 State Occupational Employment and Wage Estimates Oregon.” 29 March 2013. Web. 31 October 2013.
“Sysco Current Ratio (Quarterly):1.656 for June 30, 2013.” Y Charts. 31 October 2013. Web. 31 October 2013.