Things to Include in a Literature Review for a Business - Coursework Example

Good Literature Review in Research of Business Client Inserts His/her Name Client Inserts Grade Course Client Inserts Tutor’s Name 08/08/2012 Introduction A literature review may be defined as a compilation of previous research findings and/or previous writings on a specific topic (Australian School of Business 2011 p.1). It occurs as a part of main documents such as books and proposals among others. Marrelli (2005 p. 40) and Jankowicz (2004 p.56) elaborate further saying that the contents of a literature review include identification, reading, summarizing, and evaluating previously published articles, books, reports, or internet entries on a particular topic. Marrelli (2005 p.40) adds that literature reviews are not limited to these works only but may include unpublished and relevant sources including manuals and personal communications. For any field of study, the information to be contained in a literature review rotates about a particular problem of focus giving examples of previous similar undertakings and the conditions that led to success or failure. The main purpose is to guide the current researcher on by preparing manoeuvrability index of the intended undertaking (Galvan 2004 p.5). For a literature review while conducting a business research, the information will attempt to give background information on that particular type of business (Bryman 2006 p.111/2). The main focus of a literature review in a business context is to explain the prevailing factors that may affect the operations of a particular business, the changing trends of these factors and thus enables researchers to predict what may actually happen on the ground (Jankowicz 2004 p.47). While focusing on literature review in business research, this study attempts to elaborate the essential components of a good literature review. As a part of a specific study say a business strategic plan, the connection therein between it and other parts of the study is also analysed. For a good manager, literature review guides the actions and the decisions made (Galvan 2004 p.8/9). While a good literature review will enable successful entrepreneurial efforts, a poorly conducted literature review may lead to sudden failure (Galvan 2004 p.9). Therefore, the contents of a literature review are of ultimate importance (Bryman 2006 p.107) and so is the justification of this study. Things to Include in a Literature Review for a Business A literature review in business research is similar to any other literature reviews (Jankowicz 2004 p.48/9) conducted especially for academic purposes in terms of structure and the purposes of the information given. Any literature review will present compilation of information under four main domains; established findings, conflicting evidence, important theories and gaps (Australian School of Business 2011 p.1). Established Findings As reiterated above, in general terms, established findings may include previous related articles, books, and reports among other sources of information (Australian School of Business 2011 p.1). In business, published information sources about successful conduction of business are many. This may include reports from a similar corporation operational details, successful business management books and management scholarly periodicals, reviews and journals (Galvan 2004 p.3/4). Personal communications such as emails and others may also prove useful if they provide relevant information. Conflicting Evidence For control purposes, the established findings should present information that both indicate challenges and privileges that a particular business operation may face (Marrelli 2005 p.42). The information offers conflicting evidences from different authors about different ideologies and their implications in business context (Australian School of Business 2011 p.3). It is common that different business authors have different views about different entrepreneurial strategies for a particular business and a sound literature review in business research will present these different viewpoints for analysis by say the manager or the financier so as to make sound decisions (Saunders & Lewis 2012 p.34). The concept of evidence indicates that the writer may first focus on trends in ideal and operating businesses of equal potential and similar nature. Theories in Business In the world of business, there exist many literature materials that provide various theoretical approaches (Galvan 2004 p.6). However, the depicted routes of success in theories are only hypothetical. Many theories attempt to provide the qualities of an entrepreneur and management approaches that a manager may choose from. A literature review will indicate the advantages and disadvantages of various approaches and the proposed success ends of particular approaches (Jankowicz 2004 p.51). This does not guarantee success but managerial efforts and decisions adopted are somewhat reassured of success (Saunders & Lewis 2012 p.38). Gaps A literature review will derive comments on different viewpoints from different literature materials (Marrelli 2005 p.40/1). It indicates gaps in terms of the changing business environment between past and present time, between different geographical placements of a business, the technological dynamics and the changing ethnological aspects. For example, literature review may at a point suggest that failure of a business is dependent on the capacity of the business operators to change strategies with the changing business environment. It may also indicate the room there is for the expansion and promising success of a particular business. It may also suggest the timeline for success or failure that may be associated with different approaches that say were in operation in the past. In addition, a literature review identifies hazy conclusions from the studied literature and subsequently discovers what needs to be covered by future business research efforts (Australian School of Business 2011 p.2). Specific Genres in Literature Review in Business Research In business research, the information provided rotate around the four main factors that affect operation of a business. These are academic literature, literature from experts, literature about the business environment and literature about the limitations of the operating government policies (Marrelli 2005 p.35). Academic literature provides theories and basic information about the operations of a business. Literature from the experts provides ideas from expert’s points of view and may involve information from one on one conversation with experts. The literature about the business environment makes the main content and includes all aspects of the business including analyses such as SWOT and PEST, Value Chain and so on (Saunders & Lewis 2012 p.37). Government policies exist in any country to control the operational disciplines of a particular business. Literature materials with the statements of the government concerning the operations of particular business must therefore be included. The Role of Literature Review in the Entire Management and In Assisting Human Resources Management in Decision Making Process Professional Grounding Depending on the nature of the business, the literature review derives the needed human resources spectrum (Greener 2008 p.101). The human resources management can accomplish this by analysing the practical requirements on the ground where the business is to operate (Cameron 2010 p.103). According to Marrelli (2005 p.42), relevant literature materials that explain the required workforce skills must be sourced from and this forms the platform on which choice of labour is based. Still, the business atmosphere depicted by literature review guides the proposal of services (Bryman 2006 p.108) to the workforce, for instance, motivation and the accountability to the employees. Predicting Pitfalls Starting with research reports covering the issues that involve an already operating business of similar nature, the literature review attempts to reveal potential technical problems that may face a particular business. This is accomplished through comparative study on the applications, implications and success using a particular combination of resources (Marrelli 2005 p.44). With a literature review that indicates the potential problems, a manager is alerted in advance such that he or she proposes necessary interventions in advance (Marrelli 2005 p.43). Proposing Necessary Interventions For the predicted problems, a good business research literature review proposes potential intervention (Marrelli 2005 p43). This is done by presenting evidence from various experts and literature materials. Literature materials for this purpose may include reports from operating businesses and or from academic and theoretical articles. Mostly, the potential interventions serve as “plan B” in case of a corresponding problem emergence (Saunders &Lewis 2012 p.34). The literature review provides interventions only as suggestions and the business management can adopt other interventional strategies as they may deem necessary or incorporate individual opinions and ideas. However, if the proposed intervention is fully supported by reliable evidence, it may prove helpful and therefore the writer of a literature review in business research searches for reliable sources of information (Galvan 2004 p.8). It is wise to provide challenges too, of the proposed intervention and conflicting evidences from different authors (Australian School of Business 2011 p.2). Indicating Marketing Research Methodologies Behind any business ambition, there exists a marketing thought for the services and commodities that a particular business intends to deal in (Greener 2008 p.99; Saunders & Lewis 2012 p.33). Literature review will indicate the methodologies to be integrated in the marketing of a business. It also gives the reasons why a particular methodology is the best for the business depending on the operational potentials as guided by the above four genres. For instance, SWOT (strengths, weaknesses, opportunities and threats) analysis (Marrelli 2005 p.43) may be the indicated method for conducting a market research. For this, the literature review provides how it has performed in the business context in the past hand in hand with indicating the applicability and reliability of the method. Competency Modelling A good literature review for business research attempts to create competency model by comparing competencies model used in the past (Marrelli 2005 p.43). For example, determining the number and categories of jobs and the working atmosphere in advance will enable the manager to save time while deciding who will do what (Saunders & Lewis 2012 p.33). The Position of Literature Review in Research for a Business Literature review serves to guide the various undertakings involved in the business research. To start with, the timeframe of the activities (Saunders & Lewis 2012 p.33) to be involved in business research is provided or suggested in the literature review. Therefore, the working schedule is greatly influenced by the timeline indicated in the information in the literature review. Cameron (2010 p.99) states that literature reviews provide important background information by drawing comprehensive conclusions from the various authors and therefore the effectiveness of the time allocated for various activities is highly probable. Literature review introduces the financial requirements for various undertakings of a business, hand in hand with the quantity and the typologies of the labour required. Therefore, the working budgetary allocations are easily predicted from analysis of the related information in the literature review (Saunders & Lewis 2012 p.37/8). The writer of the budget focuses on the information given and therefore the quality of literature review must be high enough to assure success by proper budgeting. Similarly, the literature review introduces the methods to be applied marketing. By critically analysing the various business environments and success records, it becomes easy to predict potentiality of the market in the intended area of operation (Saunders & Lewis 2012 p.38). By learning from experience, I find literature review for business research helpful to a potential manager and/or an entrepreneur. First, it widens one’s background information about particular business environment, theories and trends. Secondly, the manager finds literature review as a guide to perform and/or schedule various activities, to market the business, to adapt to the business environment and to predict success as well as potential extremities – challenges and success corridors. Conclusion Literature reviews are important coverage of necessary information regarding a particular topic of interest. In business research, they serve to provide grounds on which an interested entrepreneur builds his or her own professional knowledge base, understands particular necessities for a successful business venture of a particular nature, identifies potential problems and/or interventions as well as marketing procedures, and identifies the best practices in the business environment (Marrelli 2005 p.43). Literature reviews also guide every other procedures involved in research of a business (Saunders & Lewis 2012 p.37). List of References Australian School of Business. 2011. Writing a Literature Review. Education Development Unit, pp1-3. Bryman, A. 2006. Integrating Quantitative and Qualitative Research: How is it Done? Qualitative Research, 6, pp. 97-113. Cameron, R. 2010. The Application of Mixed Methods in Organisational Research: A Literature Review. Electronic Journal of Business Research Methods, 8:2, pp95-105. Galvan, J.L., 2004. Writing literature reviews. Glendale, CA: Pyrczak. pp3-9. Greener, S. 2008. Business Research Methods. Forecasting Trends. pp94-102. Jankowicz, A.D. 2004. Business Research Projects. 4th ed. Singapore: Seng Lee Press. pp47-56. Marrelli, A.F., 2005. Literature Reviews. Performance Improvement, 44:7, pp40-44. Saunders, M. and Lewis, P., 2012. Doing Research in Business and Management: An Essential Guide to Planning Your Project. Philadelphia: Trans-Atlantic Publications. pp33-38. Read More