Project Report

BUSINESS RESEARCH METHODS (8510)

SEMESTER: SPRING 2020 PROJECT
REPORT

Name: Ghulam Murtaza

Roll number: BY551858
Submitted To: . . Maam Qubran

Abstract

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This report is the practical part of the most vital practice of our MBA-HRM program. The sole
objective of my activity is to familiarize with the practical manipulation of business
organization. This report has been written to know how big organizations like Toyota company
uses secondary data to achieve their common goals.

The design of the research project specifies both the data that are needed and how they are to
be obtained. The first step in the data-collection process is to look for secondary data. These
are data that were developed for some purpose other than for helping to solve the problem at
hand.

In the first phase of the report there is the general introduction about the topic and then
different terms related to company have been explained, then the mission, values, different
services and different strategies of the organization have been explained. In the next part,
SWOT analysis of the firm have been done by the help of which it is identified that what are the
strong areas of the company and where it lacks so that it can improve.

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Contents

What is Data? 1
PURPOSE OF DATA COLLECTION 1
Classification of Data 1
Primary data 1
Secondary Data 2
Criteria for evaluating secondary data 2
Sources of secondary data 3
Merits and demerits of secondary data 4
PRACTICAL STUDY OF ORGANIZATION (Toyota Motor Company) 7
Mission statement 7
Vision statement 8
Core values 8
Secondary data research in Toyota Motor Company 8
 Data and Sampling 8
 Customer Feedback 8
 Market Risk Analysis 9
 Competitor Analysis 9
 Consumer Analysis 9
 Accounting reports 9
SWOT Analysis 10
Strengths 10
Weakness 10
Opportunities 10
Threats 10
Findings 11

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Recommendations 11
Conclusion 11
References 12

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What is Data?
Statistical data are a numerical statement of aggregates. Data, generally, are obtained through

properly organized statistical inquiries conducted by the investigators. Data can either be from

primary or secondary sources. Data collection is a term used to describe a process of preparing

and collecting data.

PURPOSE OF DATA COLLECTION

The purpose of data collection is

• to obtain information

• to keep on record

• to make decisions about important issues,

• to pass information to others

Classification of Data

Primary data
New information collected specifically for your purposes, directly from people in the know.

Methods of primary data collection vary based upon the goals of the research, as well as the

type and depth of information being sought.

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Secondary Data
Secondary data is the data that have been already collected by and readily available from other

sources. Such data are cheaper and more quickly obtainable than the primary data and also

may be available when primary data cannot be obtained at all.

Secondary data is used to increase the sampling size of research studies and is also chosen for

the efficiency and speed that comes with using an already existing resource. Secondary data

facilitates large research projects, in which many research groups working in tandem collect

secondary data. The main researcher is then allowed to focus on primary research or particular

areas of interest. This division of labor helps researchers learn more in less time .

Secondary Analysis

Secondary analysis is the practice of using secondary data in research. As a research method, it

saves both time and money and avoids unnecessary duplication of research effort. Secondary

analysis is usually contrasted with primary analysis, which is the analysis of primary data

independently collected by a researcher.

Criteria for evaluating secondary data

• Specifications and research design

• Error and accuracy

• Currency : when the data were collected

• Objective : the purpose for which the data were collected

• Nature : the content of the data

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Sources of secondary data

1. Internal sources

Internal sources of data are those which are obtained from the internal reports

of an organization. For instance, a factory publishes its annual report on total

production, total profit and loss, total sales, loans, wages to employees, bonus

and other facilities to employees etc.

Internal sources of secondary data are usually for marketing application.

• Sales Records

• Marketing Activity

• Cost Information

• Distributor reports and feedback

• Customer feedback

2. External sources

External sources refer to the information collected] outside agencies. It can be

collected from primary as well as secondary sources; type of information can be

collected through census or sample method by conduct! Surveys and

investigation.

External sources of secondary data are usually for Financial application.

• Journals

• Books

• Magazines

• Newspaper

• Libraries

• The Internet

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Merits and demerits of secondary data

⮚ Advantages of the secondary data refer to the benefits and importance of using the secondarily

collected record and data in a research study. Some of the advantages of secondary data

include:

• Time and Cost Effective

Generally, the secondary data can be collected very easily where researchers have to find the

source of that data and then collect it at all. Besides, the time and cost required to collect this

type of data is very lesser as compared to that of primary data. Hence, it can be said that it is

primary advantage of secondary data . This thing helps the researchers to collect the data easily

and without spending much time and financial resources.

• Ease of Access

In order to access good secondary data, the marketers visit libraries or the places where the

secondary data can be found easily. Besides, internet has also made the secondary data also

very much easier to access and it can be said as another advantage of the secondary data. As an

example of a research study, the literature review can be said as a secondary data which can be

accessed very easily.

• Longitudinal Analysis

Another advantage of the secondary data is that it can do longitudinal analysis where the

studies are conducted spanning over a larger period of time. Usually the secondary research

data has this capability that it can be used to determine a trend. This advantage of the

secondary research data can help the researchers to compare their own data with any

longitudinal study which has already been conducted in that particular area of study.

• Sampling

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While using the secondary research data, the researcher can use the random sampling resulting

in the larger sampling size which may not be possible in a primary data collection.

⮚ The disadvantages of the secondary data can include a number of things. Following are some of

them:

• Not Specific to One’s Needs

In many forms of the secondary research data, it is not specific to the needs of a researcher.

Therefore, the researcher cannot only rely on the secondary research data and it is not of much

use to him. It can be exemplified better by stating a simple scenario. For example, a person or

organization who collected the data for itself will be saved as secondary data for future

researches. However, the future researchers who will use that data as secondary data might

not find it appropriate and specific to their needs .

• Biasness

The secondarily collected data is usually collected by someone else than the one who uses it.

Hence, generally the secondary data is biased in the favor of one who collected it and might not

necessarily meet with the requirements of another researcher (Sparrow, 2012). In addition,

biasness can also refer to the disadvantage in terms of the researcher manipulating the

secondary data.

• Lack of Availability

This can also be said as another disadvantages where the secondary data might not be available

and accessible easily. Sometimes, it can be the case that researcher may not be able to find the

exactly relevant and appropriate secondary available data. Sometimes, a researcher conducting

a study on a particular topic does not find himself in a position to find the data which addresses

his research question and purpose in a proper manner.

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• Time Lag Issues

Information which is collected from secondary sources such as books and historical surveys

might not sync with the times and it can change drastically. Hence, this can emerge as another

disadvantage of the secondary research data where the time lag issue rises and as a result, it

can be highly risky for the business or a project.

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PRACTICAL STUDY OF ORGANIZATION (Toyota Motor Company)

Toyota Motor Corporation is a Japanese multinational automotive

manufacturer headquartered in Toyota, Aichi, Japan. In 2017, Toyota's

corporate structure consisted of 364,445 employees worldwide The

company was founded by Kiichiro Toyoda in 1937, as a spinoff from

his father's company Toyota Industries to create automobiles. Three

years earlier, in 1934, while still a department of Toyota Industries, it

created its first product, the Type A engine, and its first passenger car in 1936. Indus Motor

Company Limited, operating as Toyota Indus, is a Pakistani automobile manufacturer and joint

venture between House of Habib, Toyota Tsusho and Toyota Motors, based in Karachi,

Pakistan since 1990. Indus Motor is the authorized assembler and manufacturer of Toyota and

Daihatsu vehicles, auto parts and accessories in Pakistan since 1 July 1990 at its 105 acres (0.42

km2) manufacturing plant at Port Bin Qasim Industrial Zone, outside Karachi.

Mission statement

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Vision statement
To be the most respected and successful enterprise, delight customers with a wide range of

products and solutions in the automobile industry with the best people and the best

technology.”

Core values
• World class production quality

• Achieving the ultimate goal of complete customer satisfaction

• Being seen as the best employer

• Fostering the spirit of teamwork

• Inculcating ethical and honest practices

Secondary data research in Toyota Motor Company

Unlike primary data, which is collected by a researcher in order to fulfill a particular research

objective, secondary data is data that was collected by other researchers who likely had

different research objectives. Sometimes researchers or research organizations share their data

with other researchers in order to ensure that its usefulness is maximized. In addition, many

government bodies within the Pakistan and around the world collect data that they make

available for secondary analysis. In many cases, this data is available to the general public, but

in some cases, it is only available to approved users.

Toyota company uses secondary data for their business research in following ways :

 Data and Sampling

Japanese automotive corporation (Toyota) uses data sampling, operating in Japan. Data is

extracted from annual financial reports of the corporation.

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 Customer Feedback
Customer feedback is collected from various sources including internet, in house surveys, peer

to peer communication, Face-to-face interviews etc.

 Market Risk Analysis

Market risk also known as systematic risk. Market risk is the risk due to market fluctuations.

Market risk includes commodity risk, currency risk, interest rate risk, and inflation risk.

Commodity risk is the likelihood that the price of gold will change either increase or decrease.

Currency risk is the probability that the exchange rate fluctuate. Interest rate risk is the

likelihood of the interest to increase or decrease. Inflation risk is the prices of goods and

services will impact the value of money. The hedger or speculator will benefit from the market

fluctuation, keeping all that in view market analysis plays an important role in growth of a

company

 Competitor Analysis
Competitor analysis in marketing and strategic management is an assessment of the

strengths and weaknesses of current and potential competitors. This analysis provides both

an offensive and defensive strategic context to identify opportunities and threats.

 Consumer Analysis
Consumer analysis is the process where information about the consumer is found out from

market research like the needs of the consumer, the target market and the relevant

demographics so that this information can be used in market segmentation for further

steps of market research. It is very useful in predicting consumer behavior.

 Accounting reports
Automobile companies like Toyota also take accounting reports like balance sheets,

income statements, and other reports as secondary data for their research.

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SWOT Analysis
Strengths
• Low cost to acquire the data

• Easy to asses data

• Provide bases for comparison

• Ensures no duplication

Weakness
• Incomplete information

• Data Inaccuracy

• Biased data

• Not proprietary data

Opportunities
• Creates a strong marking plan

• Market segmentation

• Technological development

• Finding new customer segments

Threats
• Reliance on non-proprietary data

• Low quality data.

• Weakening of industry

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• Changes in consumer preferences

Findings
• Secondary data provides help creating marketing plan

• Data might be biased

• Easy accessible but low quality data

• Use proper data collection methods

• Area based research

Recommendations
When the researcher utilizes secondary data, he has to look into various sources from where he

can obtain them. Researcher must be very careful in using secondary data. The data that are

suitable for one inquiry may not necessarily be found suitable in another inquiry. Hence, if the

available data are found to be unsuitable, they should not be used by the researcher. He must

make a minute study because it is just possible that the secondary data may be unsuitable or

may be inadequate in the context of the problem which the researcher wants to study. From all

this we can say that it is very risky to use the already available data. The already available data

should be used by the researcher only when he finds them reliable, suitable and adequate.

Conclusion
Primary data is proprietary data which we collect directly from source while secondary data is

already collected and available in different sources including external and internal sources like

internet, magazines, books, articles, libraries etc.

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Secondary data has advantages and disadvantages that are to be kept into sight while using it

in a business research.

References
https://en.wikipedia.org/wiki/Secondary_data

https://whatis.techtarget.com/definition/secondary-data

https://www.thoughtco.com/secondary-data-analysis-3026536

https://www.wisdomjobs.com/e-university/research-methodology-tutorial-355/collection-

ofsecondary-data-11494.html https://en.wikipedia.org/wiki/Toyota

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