Must be fact based on research with proof provided for conclusions.
Purpose: You will conduct an industry analysis (also called a competitive analysis) of the boating industry, and write a report with your results. This report will require that you apply the concepts that you have learned in the course.
This assignment will enable you to learn how to research and analyze the external and competitive nature of an industry. It is necessary to have a thorough understanding of an industry before a firm can develop strategic plans to obtain competitive advantages.
Report must be written supported with facts and not assumptions based on research.
Basic Attributes of Your Report: The best reports are the result of a lot of research. There is a direct correlation between research and grades. To earn the highest grade possible, your report should demonstrate evidence of:
• Significant secondary research. A good report will use at least 14 different sources, and no one source for more than 10 percent of the citations. Internet sources preferred unless a copy of the page from the magazine or book can be provided. One good source may be www.boatingindustry.com
• Written in plain English and demonstrating understanding that clarifies and distills the problems and opportunities competitors in the industry are facing.
• Precise business writing skills. (You will be penalized for writing mistakes.)
The best reports also summarize what you have learned from your research. A great report demonstrates that the student has thoroughly researched the industry, and demonstrates the ability to:
• Comprehend –Paraphrase or interpret the information in one’s own words.
• Analyze – Break down the information gathered during your research into parts, and show interrelationships.
• Synthesize – Bring together parts of knowledge from various sources to form the report.
• Evaluate – Make judgments based on the information researched.
Research Overview: Begin by just learning as much about the industry as you can — avoid trying to fill in the information required for the report as long as you can. This may be frustrating for you as there is a tendency to look for specific information for one section of your report during your research, but you will rarely find such information in a single source.
Information you are seeking includes industry trends, past growth rates and future growth projections, target market wants and needs.Also look for typical products/services offered by competitors, client/customer demographic descriptions, pricing, location, promotional methods, distribution methods, customer service reputation, quality track record, etc. Learn how industry competitors operate.
Suggested Approach to Research: Here is how you might start your research:
1. Determine your NAICS code. This will increase the efficiency of your research. If you cannot identify the NAICS code, then try using a SIC code instead.
2. Find magazine/journal articles or books about your type of business; print the articles to insure that you have the source of the information. List the articles and books you researched and describe the pertinent information you found that will be included in your report.
3. Use the Internet. There is a wide variety of Internet sources of information available to you.
Document Your Sources: As you conduct your research, carefully document the sources of the information. We have a Zero Tolerance policy for plagiarism in this course. You MUST submit your report to Turnitin.com, an online anti-plagiarism website.
Outline: Following is an outline of the types of issues you will want to address in your report. Be sure to go beyond just describing the industry. Discuss the implications of your findings for firms competing in your industry. Note that not all issues contained within each section will apply to every industry. Choose the most pertinent issues and discuss them according to the applicability to your assigned industry. However, there are certain sections that are required for all reports and are marked as such, so please make sure to include them in your assignment.