The purpose of the undertaking is to ensure that yoga is presented to the world. It aims to provide awareness and demand both at a national as well as international level so that ongoing classes of yoga can be enriched with experienced instructors. The integrity of Wayapa is in focus and based on it certified and trademarked international is provided for the betterment of the courses offered at the institute. Hence, the aim is to make Wayapa an institute that provides accredited training for yoga instructors. This can help in mitigating the challenges faced from the industry partners as the legality of the training can be maintained. The target market of Wayapa can help it to remain competitive in the market.
|
Method |
Definition |
Strength |
Limitation |
|
Secondary research |
According to Glen, Suciu & Baughn (2014), the secondary research types help in analysing data that are derived from indirect sources. Sources such as books, journals and websites as well as peer review journals are analysed so that authentic information about a research topic can be available. For this particular research the secondary sources that has been used is the analysis of general journals that are relevant with the topic. Journals related to benefits of economy and business development is analysed so that relation can be made with the current situation that is faced by Wayapa. |
The strength of secondary source is that it helps in gaining various information, opinion, thoughts and ideas about a particular topic. The information can help in a theoretical analysis and broaden the knowledge related to the topic. The concept of each of the key words or relevant application of theories and framework can be understood based on the study of the books, journals and websites. In this case the relevance of the general secondary method used for the research is that it can help in analysing the concept of the topic and apply it specifically with the situations that are faced in Wayapa. |
The limitation is that with the application of secondary research it can be difficult to understand the opinion of the people. Interaction with the people is not done and due to this, the application of the theories in a practical environment cannot be judged. At the same time, gaining proper information can be difficult, as it may not always be found. Hence, in this case proper information relating to improvement of an economy may not be gained for the completion of the research in a successful manner. |
|
Primary research |
Primary research is conducted by analysing the data that are collected directly from the main source. For example, understanding a concept by analysing the thoughts and ideas of the people can help in the effective completion of a research (Kupp, Anderson & Reckhenrich 2017). Methods such as interview and survey in the form of questionnaire can be used to collect data that relevant for the research. For this particular research interview method can be used so that the opinions of the people working at Wayapa can be analysed. This can be used to make further recommendations in the research. |
The strength of the primary research is that direct opinion of the people can be obtained and based on it relevancy to the topic at hand can be discussed. At the same time, the opinion of the leaders of Wayapa can be used to identify the method that is adopted so that the institute can be made as a successful institute in the country. At the same time, broad answers can be obtained from interview questions that help in understanding the mentality of the people in a proper manner. This is one attribute that is absent in the case of survey questionnaire method. |
The limitation is that the interview method may not always provide authentic information. Managers may tend to withhold the truth of information so that reputation of the institution can be upheld. At the same time, time may not be provided to the people conducting the interview sighting reasons of a busy schedule. In this regard, problems may occur about gaining a proper idea of the research and subsequently applying it for the welfare of finding out the strategy adopted by Wayapa. |
Table: Method selection
(Source: Created by author)
Yes, I engage in natural walking. It means that I can help in relaxing my physical as well as mental fatigue. I even perform a few activities while walking such as counting my breath, enjoying the scenery of my path and by remaining in calm while walking. At the same time, I undertake exercises in gym like training with weight, physical as well cardio. I even undertake swimming.
I engage in nature walking where in I appreciate every detail about the beautiful nature. I look around the neighbourhood and the activities in the area. This helps me to relax myself and ensure that I remain stress free. I undertake this activity twice a day, once before going to work and once after returning from it. During my holidays, I take nature walk at the morning and at the afternoon.
Yes, I go to the gym to keep myself fit. I usually perform at the gym for an hour. During the process, I take in weight lifting, physical exercises and cardio exercises. This is mainly done so that I do not injury my muscles.
Article 1: Lindgardt, Z. & Ayers, M., 2014. Driving growth with business model innovation. BCG Perspective, The Boston Consulting Group.
This particular article helps in understanding the growth of business. The reason for the choice of this particular article is that it helps in making a connection with the aim of Wayapa. Wayapa aims to build its institute as the best in the business. Hence, it is necessary that business model for innovation is applied so that it can maintain its position in the business and at the same time continue its growth in the market.
Article 2: Panayotou, T., 2016. Economic growth and the environment. The environment in anthropology, pp.140-148.
The second article appeals to the economic aspect of the business. This is mainly because setting up a new institution or improving an old one requires the funding from the economy of a country. In the case of Wayapa the institute aims to become the best yoga institute in the world. Social media sites are used to reach the customers and this helps in toning down the extra cost of promotion. Hence, the economy of the region can be improved with the help of the institution.
Article 3: Penrose, E.T., 2017. Foreign Investment and the Growth of the Firm 1. In International Business (pp. 33-48). Routledge.
The third article focuses on the importance of foreign investment and growth of a firm. In the case of Wayapa, the goal of the institute is to establish itself in the global market. Hence, the manner in which it can be done is focused in this article. The managers of Wayapa can draw inspiration from the application of the theories.
The analysis of the primary research show that exercises and natural walking can help in keeping fit. It is important for every people to conduct a walking exercise so that they can remain fit and ensure that they can contribute towards the successful development of business. Walking around can help in relaxing the brain and ensure that the cardio remains active and steady. At the same time, it also helps in admiring the scenic beauty of the residential place. Training at a gym can help in performing activities that require physical strength. The relation of the primary interview with that of the secondary interview is that a clear mental condition can help in making decisions that pertain to the goal of an organisation. The managers at Wayapa can remain focused on the objective and ensure that rash decisions are not taken that may affect the growth of the institute.
Conclusion
Therefore, it can be concluded that in order to succeed in business it is important to formulate strategies that ca help in its development. In the case of Wayapa, the goal is to be the best institute that provides services in terms of yoga exercises. It is necessary that the managers of Wayapa analyse the economic and marketing prospect of training the people to make them capable of performing yoga lessons. Self-training and realisation is one of the best methods that can be applied to remain fit. The adoption of exercises such as walking or being at a gym can provide the necessary level of progress for attaining mental and physical fitness. It is also necessary to understand the manner in which strategies can be applied so that it can help in the development of the institute.
Elsbach, K.D. & Stigliani, I., 2018. Design Thinking and Organizational Culture: A Review and Framework for Future Research. Journal of Management, 44(6), pp.2274-2306.
Glen, R., Suciu, C. & Baughn, C., 2014. The need for design thinking in business. Academy of Management Learning & Education, 13(4), pp.653-667.
Glen, R., Suciu, C., Baughn, C.C. & Anson, R., 2015. Teaching design thinking in business. The International Journal of Management Education, 13(2), pp.182-192.
Herrmann, N. & Herrmann-Nehdi, A., 2015. The Whole Brain Business Book: Unlocking the Power of Whole Brain Thinking in Organizations, Teams, and Individuals. McGraw-Hill Education.
Huq, A. & Gilbert, D., 2017. All the world’sa stage: transforming entrepreneurship education through design thinking. Education+ Training, 59(2), pp.155-170.
Kolko, J., 2015. Design thinking comes of age. Routeledge
Kupp, M., Anderson, J. & Reckhenrich, J., 2017. Why Design Thinking in Business Needs a Rethink. MIT sloan management review, 59(1), p.42.
Lindgardt, Z. & Ayers, M., 2014. Driving growth with business model innovation. BCG Perspective, The Boston Consulting Group.
Panayotou, T., 2016. Economic growth and the environment. The environment in anthropology, pp.140-148.
Penrose, E.T., 2017. Foreign Investment and the Growth of the Firm 1. In International Business (pp. 33-48). Routledge.
Strulik, H. & Trimborn, T., 2015. A note on variable capital utilization in growth and business cycle theory. Macroeconomic Dynamics, 19(7), pp.1622-1632.
Van den Berg, H., 2016. Economic growth and development. World Scientific Publishing Company.
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