New York City Marketing Analysis

 

 

A marketing company based out of New York City is doing well and is looking to expand internationally. The CEO and VP of Operations decide to enlist the help of a consulting firm that you work for, to help collect data and analyze market trends.

You work for Mercer Human Resources. The Mercer Human Resource Consulting website (www.mercer.com) lists prices of certain items in selected cities around the world. They also report an overall cost-of-living index for each city compared to the costs of hundreds of items in New York City (NYC). For example, London at 88.33 is 11.67% less expensive than NYC.

More specifically, if you choose to explore the website further you will find a lot of fun and interesting data. You can explore the website more on your own after the course concludes.

https://mobilityexchange.mercer.com/Insights/cost-of-living-rankings#rankings

Assignment Guidance:
In the Excel document, you will find the 2018 data for 17 cities in the data set Cost of Living. Included are the 2018 cost of living index, cost of a 3-bedroom apartment (per month), price of monthly transportation pass, price of a mid-range bottle of wine, price of a loaf of bread (1 lb.), the price of a gallon of milk and price for a 12 oz. cup of black coffee. All prices are in U.S. dollars.

You use this information to run a Multiple Linear Regression to predict Cost of living, along with calculating various descriptive statistics. This is given in the Excel output (that is, the MLR has already been calculated. Your task is to interpret the data).

Based on this information, in which city should you open a second office in? You must justify your answer. If you want to recommend 2 or 3 different cities and rank them based on the data and your findings, this is fine as well.

 

Deliverable Requirements:
This should be ¾ to 1 page, no more than 1 single-spaced page in length, using 12-point Times New Roman font. You do not need to do any calculations, but you do need to pick a city to open a second location at and justify your answer based upon the provided results of the Multiple Linear Regression.

The format of this assignment will be an Executive Summary. Think of this assignment as the first page of a much longer report, known as an Executive Summary, that essentially summarizes your findings briefly and at a high level. This needs to be written up neatly and professionally. This would be something you would present at a board meeting in a corporate environment. If you are unsure of an Executive Summary, this resource can help with an overview. What is an Executive Summary?

 

Things to Consider:
To help you make this decision here are some things to consider:

Based on the MLR output, what variable(s) is/are significant?
From the significant predictors, review the mean, median, min, max, Q1 and Q3 values?
It might be a good idea to compare these values to what the New York value is for that variable. Remember New York is the baseline as that is where headquarters are located.
Based on the descriptive statistics, for the significant predictors, what city has the best potential?
What city or cities fall are below the median?
What city or cities are in the upper 3rd quartile?

Sample Solution

 

 

 

Administration has been (and keeps being) one of the most contemplated and expounded on subjects.

Initiative is a procedure whereby an individual impacts a gathering of people to accomplish a shared objective (Peter G. Northouse). Subside G. Northhouse in his book Introduction to Leadership: Concepts and Practice makes reference to that authority is a quality, capacity, ability conduct and a relationship.

Regardless of the way that initiative and the board mean the equivalent and is frequently utilized reciprocally it is essential to feature the contrast between them.

The primary contrast among administration and the board is that a pioneer isn’t relegated the position though the administrator is distributed the power and is required to fulfill the allocated commitments, assignments and adventures meanwhile managing the faculty who go under his detailing line. It includes assignment of his commitments to his sub-ordinates. A pioneer has a through and through various part to perform; it includes inspiration, focusing on empowering others, and moreover prodding, and influencing others.

Vision:

To utilize my recently procured information, expertise and gifts to be a viable pioneer and in this way make a dynamic progress in my vocation while helping my partners and the association in accomplishing their vision.

Initiative Policy

Why an initiative approach?

Free of our ages, every one of us improves when we grasp what we ought to do, how well we are getting along and where our headway needs may lie.

Thusly, the Policy can offer an affiliation some help with increasing more from the effort of each representative while furthermore giving them a progressively conspicuous likelihood of fulfillment in their work.

Administration strategy:

Successful initiative is fundamental in passing on excellent care, guaranteeing prosperity of the patient and engaging positive staff improvement.

Goals:

• Improve my insight into the drivers for change.

• Develop authority aptitudes which will assist me with being a superior chief back at work.

• Develop passionate insight

• Develop abilities of guideline exchange.

Examination of Change speculations

Kurt Lewin’s hypothesis of progress.

Kurt Lewin composed that “An issue is held in balance by the cooperation of two contradicting sets of powers – those looking to advance change (main impetuses) and those endeavoring to keep up the norm (limiting powers)”.

Main impetuses

Information increased after finish of the course

Adaptability

Idealistic

Excitement

Limiting powers

Poor driving expertise

Activity aptitudes

Enticement.

Rule arrangement

The administration

Assessment of Leadership speculations.

Transformational and Transactional Leadership.

The term transformational authority was first instituted by Downton (1973)

Transformational initiative is a procedure that propels supporters by engaging higher thoughts and virtues where the pioneer has a profound arrangement of inner esteems and thoughts and is convincing at rousing devotees to act in a way that continues more noteworthy’s benefit as opposed to their very own advantages (Burns, 1978).

1. Romanticized impact

2. Persuasive inspiration

3. Scholarly incitement

4. Individualized thought

Value-based administration: Offering prizes to others subsequently for consistence is described as value-based authority (Sims et al 2009). It includes:

Unexpected compensate

The board by articulation

Quality scope:

In input from the Strengthscope proposed that I have to create authority abilities.

Passionate Intelligence:

The passionate knowledge hypothesis by Goleman.

Passionate knowledge – individual’s mindfulness, fearlessness, poise, duty and honesty, and an individual’s capacity to impart, impact, start change and acknowledge change

Creating Emotional Intelligence will propel my ability as a transformational pioneer

Challenge current authority rehearses in principled exchange.

Head Negotiation is an intrigue based way to deal with oversee game-plan that focusses fundamentally on harmony progression and conflict assurance. It utilizes an integrative way to deal with oversee finding an ordinarily shared outcome.

Standard arrangement includes as per Fisher and Ury in their book

Getting to Yes: Negotiating Agreement without Giving In

1. Isolating individuals from the issue

2. Concentrate on interests

3. Develop arrangements

4. Diagram target criteria

End:

Being toward the beginning of my own voyage and having a vison driven arrangement that will see me add to my administration and individuals the board abilities all through the going with 2 years which will draw in me to accomplish my vision of being viewed as a dependable pioneer.

 

 

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