Methodology For Business Management Studies – Visa Inc Case Analysis
Visa Inc. and its Problem
Discuss About The Methodology For Business Management Studies?
A dramatic increase is seen in the number of users who are using internet all over the world (Gavrilova and et.al., 2017). People use internet for number of purposes including online shopping, banking etc. Studies have been conducted by a number of researchers which evaluates that convenience is one of the major factor which influence buyers to opt for internet transaction. However, some scholars reveal that buyers are attracted towards online platform because of its time-saving approach. In accordance with the given context, the recent study states facts and figures related to internet statistics. There are 3.74 billion users who are using internet in the present economy. However, the study also reveals that only 35 percent users are there who makes online payment for any kind of transaction (Internet Stats & Facts for 2017, 2017). Thus, rest 65 percent people won’t trust the online platform for the payment of their purchased goods and services. This might be due to a significant rise in the number of online fraud which is affecting the trust of buyers. Thus, it is due to the presence of given aspect many firms are making effort for improving their online security system. As per the view point of Pathan (2016) online security system is basically the approach which includes a systematic process for protecting the personal data of the buyers from any kind of threat that occurs over internet. Furthermore, it has also being assessed that organization could gain trust of its buyers by making improvement in its online security system. This is because no customers wants that their personal information will be misused by any company. Thus, it is the reason why online security system has importance for the companies which are involved in an online platform.
In this regard, it is examined that in order to mark success in today’s competitive environment it is required by the corporation that it should build trust among its buyers regarding its services. This is because if it is not maintained then for enterprise it will become very difficult to make improvements in its sales and profits in an effectual way. This thing will also influence the competitive position of the firm in market.
Visa Inc is the American multinational company and it’s headquarter is located in California, USA. The company basically facilitates the transfer of funds through an electronic platform. It is counted among world’s second largest card payment organization and firm issue credit and debit cards. It has the team of more than 12000 employees who continually work for the betterment of company.
Research Aim and Objectives
In the current study also Visa Inc Company is going through with the similar type of problem. Herein, from the given case it is examined that significant increase in the online fraud is making impact upon the operation of the firm. Thus, with an aim to resolve the specific issue Visa Inc wants to analyse the effectiveness of its online security system in enhancing trust of its buyers. The company is also interested in assessing the perception of buyers towards the online security system. In the current study, specific aims and objectives will be framed. Moreover, with an aim to give effective answers to the formulated research questions assistance will be taken from different research techniques. At the end of the study, timeline will be framed which gives the description about the total time needed for completing whole research work.
The success of any research thoroughly depends upon the well-defined purpose as well as objectives (Silverman, 2016). Because these things set the path for any study and thus leads researcher towards the right direction. In this context, following are the aim and objectives of the current study.
The main aim of the study “To analyze the usefulness of online security system in improving the trust of customers towards card payment: a case analysis of Visa Inc”.
On the basis of above mentioned aim following objectives are framed:
- To explore the type and importance of online security system used by companies.
- To examine the effectiveness of online security system used by companies with specific reference to Visa Inc.
- To assess the perception of Visa Inc customers towards its online security system.
- To recommend the ways of improving customer trust as well as market share of Visa Inc.
It is very important for the researchers that they should take sufficient time while making the selection of appropriate methodologies for their study (Vaioleti, 2016). It is due to the fact that research methodologies are the base which assists researchers in the task of attaining the aim and objectives of the study in an effectual way (Weber, 2017). In this respect, following are the methodologies which will be used to attain formulated objectives of the study.
Research design gives details about the procedure which scholar uses for the purpose to collect and analyse data for its study. Furthermore, it also gives the explanation about the type of conducted study. In other words it can be said that, research design is basically overall tactic which assists scholar in the task of integrating the different components of the study (Humphries, 2017). Research design has its significance for the researchers because it shows the path for conducting study upon any topic. It also help researcher in the activity of defining problem of the study in an effectual manner. Thus, in research design plays very important and critical role for reserachers. In this context, it is examined that there are many researchers who failed at the initial phase of study because of lack of definition of research problem (Marais and Pienaar-Marais (2016).
Research Methodologies
The research design is of four types such as explanatory, descriptive, diagnostic and experimental etc. In the explanatory research design, researchers use their own idea as well as imagination with an aim to obtain information in relation to their study. Here, scholar does not formulate any hypothesis. On the other hand, researchers make use of descriptive research design when they are more interested in giving detail explanation about the specific situation under their study (Patino and et.al., 2016). However, when scholars are more interested in assessing the root cause of the problem at that time they take help from diagnostic research design. Moreover, experimental research design is used by researchers when they assess the behavior of human under a particular situation.
In the selected topic under study which is of analyzing the usefulness of online security system in improving trust of Visa Inc customers towards card payment descriptive research will be used. This is applied because of the clear definition of the problem of current study. This study is qualitative in nature and due to this respective research design seems more appropriate.
The research approach is basically the tactic which is used to conduct the study in an effectual manner. It is of two types such as inductive and deductive. Researchers make use of deductive approach when they want to move their study from general to specific. However, its reverse approach is followed in inductive research wherein scholars carry out their study from specific to general (Francis, D. J. and et.al., 2017). In addition to this, deductive research approach is used when scholars have formulated a hypothesis for their study. But, in case if researchers do not formulate any hypothesis for their study at that time inductive research approach will be applied.
For the present study, inductive research approach will be applied. This is because here researchers have not formulated any hypothesis. Moreover, the problem of current study is well defined which makes easier for the scholars with regard to move its research from specific to general criteria.
It is being regarded as another most important aspect of research methodology. Research philosophy gives clear definition about nature of knowledge. The philosophies are of four types such as interpretivism, realism, pragmatism, and positivism (Caillaud, Rose and Goepp, 2016). Here, researchers make use of interpretivism philosophy when their selected sample size is relatively small. But in case of large sample size, positivism research philosophy is applied. Further, pragmatism approach applied when study reveal the presence of both qualitative and quantitative information. In the similar way, when method chosen for the study perfectly fit to the subject matter of research at that time realism philosophy is used.
In present study, since the selected sample size is small so interpretivism research philosophy will be applied. This will also help in defining problem of the study in an effectual manner.
It is impossible for the scholars to make an analysis of whole population for their study. It is due to the presence of given aspect there is a need of selecting sample arises in front of a researcher. Thus, sample is nothing but the subset of whole population of the conducted study. The selected sample will be considered as effective if it appropriately reflect the feature or the characteristics of targeted population under research (Wildemuth, 2016).
In the present study which is on analyzing the usefulness of online security system in improving trust of Visa Inc customers towards card payment targeted population will be the company total customer base. However, with an aim to make a selection of specific sample size random sampling technique will be used. This will be applied because with the help of it each customers of Visa Inc can be given an equal chance of being selected as the sample. Thus, by making use of respective technique, 50 Visa Inc customers will be selected as a sample for the current study.
Data collection consists of methods which are used for gathering data for the study. It is of two types such as primary and secondary (Cronin, 2016). In the present study both methods will be applied. Here, primary data will be selected through questionnaire which possesses both open and close ended type of questions (Holloway & Galvin, 2016). In the similar way, secondary data will be gathered with the help of means like books, journals and online articles etc. For collecting data, significant supervision is required because here researcher is using both techniques of data collection. Hence, for increasing the efficiency of its study suggestion will be gathered from mentor who is giving guidance in the respective study.
After collecting data, in the next stage researchers will have to make an analysis of the same in order to reach on to the specific solution. Hence, for the current study collected data will be analyzed through thematic technique (Greenfield & Greener, 2016). In this method number of themes will be prepared on the basis of formulated questionnaire. This will assist in fulfilling aim and objectives of the current study.
29000 Australian Dollar will be the budget of respective study. Furthermore, 6 week time will be required for completing the study in an effectual manner. The segregation of research work will be done by using Gantt chart technique (van den Brink, & et.al, 2016). The description of the same is given below.
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Task |
1 week |
2 week |
3 week |
4 week |
5 week |
6 week |
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Background of the study |
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Research aim and objectives |
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Literature review |
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Primary data collection |
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Research methodology |
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Data analysis |
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Conclusion |
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Submission Of final report |
References
Caillaud, E., Rose, B., and Goepp, V. (2016). Research methodology for systems engineering: some recommendations. IFAC-PapersOnLine, 49(12), pp.1567-1572.
Cronin, C. (2016). Case Study Research: A Methodology for Nursing. Nursing Research Using Case Studies: Qualitative Designs and Methods in Nursing, 55.
Francis, D. J., and et.al., (2017). Issues in Research Methodology on Educator Stress. In Educator Stress. pp. 439-470.
Gavrilova, M. L. and et.al., (2017). Emerging trends in security system design using the concept of social behavioural biometrics. In Information Fusion for Cyber-Security Analytics .pp.229-251.
Greenfield, T., & Greener, S. (2016). Research methods for postgraduates. John Wiley & Sons.
Holloway, I., & Galvin, K. (2016). Qualitative research in nursing and healthcare. John Wiley & Sons.
Humphries, B. (2017). Re-thinking social research: anti-discriminatory approaches in research methodology. Taylor & Francis.
Marais, H. C., and Pienaar-Marais, M. (2016). Analysis of Research Methodology in Business and Management Studies as Reflected in the ECRM 2015 Proceedings. In European Conference on Research Methodology for Business and Management Studies. pp. 167.
Pathan, A. S. K. (2016). Security of self-organizing networks: MANET, WSN, WMN, VANET. CRC press.
Patino, C. M., and et.al. (2016). Building Research Capacity In Middle And Low-Income Countries Through Research Methodology And Career Development Education. In D102. FIGURING OUT WHAT WE DON’T KNOW: ADVANCES IN MEDICAL EDUCATION .pp. A7567-A7567.
Silverman, D. (2016). Qualitative research. Sage.
Vaioleti, T. M. (2016). Talanoa research methodology: A developing position on Pacific research. Waikato Journal of Education, 12(1).
van den Brink, A., & et.al., (2016). Research in landscape architecture: methods and methodology. Routledge.
Weber, M. (2017). Methodology of social sciences. Routledge.
Wildemuth, B. M. (2016). Applications of social research methods to questions in information and library science. ABC-CLIO.
Internet Stats & Facts for 2017. (2017). [Online]. Available through: https://hostingfacts.com/internet-facts-stats-2016/>. [Accessed on 21st September 2017]