Context and/or Organisational Background for the Business Problem

Discuss about the Bockchains’ impact on Financial Organizations.

Entrepreneurs and business managers should be able to identify the problem variables so that they can fully understand what the problem a business is suffering from (Vdorhees, 2017; Sekaran et al., 2016). A business problem is a situation in a company or business that the managers want to find solution for the same (Van Aken & Berends, 2018). Identification of a business problem in an organization helps the firm improve in their production because it will conduct study to find the solution to the problem which in turn will be an advantage for the organization (Sigler et al., 2017). The study herein analyses how a researcher would investigate a business problem using quantitative research methodology. The study also looks at the how variables can be measured, developing a research design, coming up with questionnaires, how to choose excellent data collection method, and other important factors to consider while conducting a qualitative business research. The analysis also looks at variables by coming up with a business problem. In this study the following business problem is analysed, “Investigating the Bockchains impact on Financial Organizations”. The dependant variable is this case is Blockchains. The study also has a brief literature review which analyse the business problem variables and connecting the variable with the problem mentioned above.

A business problem to be used in this study is “Investigating the Bockchains impact on Financial Organizations”. According to Schönbrodt etal (2017), Blockchain technology is a technological system where a computer stores and shares information with the in the same domain. Block chains are being used by people to store and transact financial activities in place of banks (Van Aken & Berends, 2018). Blockchain is a dependent variable that affects how financial organizations or industries conduct their daily activities. Sigler et al (2017) defined a variable in the context of a business problem as an idea which a business person is trying to measure. Therefore dependant variable is an idea that depends on other factors. In this industrial context, Blockchains is the dependant variable because when analysing it the researcher has linked it with its effects on the financial institutions. The financial industry has been greatly affected by the introduction of blockchain apps which also conduct the same work as the banks but on a faster way.

The reader should know that the financial organization include banks which have been facing competition from the Blockchains technology. The banks transact businesses slowly compared to the blockchain applications (Sahin et al., 2016). According to Schönbrodt etal (2017), when somebody wants to trace certain financial transitions from the banks, he or she can successfully find the records because the financial institutions’ privacy security is very poor compared to the Blockchain protocols. The Blockchain protocols cannot allow the tracing of financial record because it has high security system (Rack, 2017). The programs maintain the privacy and anonymity for their clients which banks do not have. The transaction fee from blockchain services is also relatively cheap compared to those of financial organization. According to Rack (2017), the benefits of blockchains over financial institutions have brought a great threat for the overall sales of the banks and other financial organizations because people are moving to the digital way of conducting financial transactions. That is the blockcahin protocols. When comparing the speed at which blockchains deliver their services and that of the banks, the blockchains are better. According to Schönbrodt etal (2017), the blockchains have impacted the financial institutions in that the customers from banks are moving to the digital platforms innovated by the help of blockchain protocols. The effect of blockchain to the banks has led to problem where the banks are losing their customers to the blockchain protocols. Therefore, solution should be found to prevent the banks from shutting down because of blockchains.

Brief Literature Review of the Requiring Articles

Schönbrodt etal (2017) stated in their article that a literature review is a section that briefly talks about the topic of discussion. The review below analyses the relationship between the dependant variable and the problem statement, the validity and reliability of the dependant variable in question, other variables related to dependant variable in question, and lastly factors that make the variables valid and reliable. Five articles have been used for the literature review.

Measuring dependant variables is very important when a researcher wants to start finding the solution for the problem. As defined in the section above, dependant variable is an idea in a problem statement that depends on the other factors for it to make sense. The first article used in the study is “How dependant variables are meausred” [Retrieved Online on 23^th May, 2018] at 1600h https//www.onamadi.articles.com/ measure-of-variable/1-6” revised by Lee, (2018) and O’mara et al (2017). According to O’mara et al (2017) in this article, dependant variable is an aspect that depends on other ideas. In the case of the study’s problem, blockchains is the dependant variable as it is being compared with the financial organizations. If there were no financial organizations in the world to be affected, then blockchain could never been investigated. Therefore, blockchain study is depending on the existence of financial institutions.

Another thing is that blockchain is a technology that has improved from what the banks have been offering. The article has explained how a dependant variable can be measured. First, dependant variables can be measured by conducting operational definition of the variable. It can be done quantitatively by observing if the change in the independent variable affects the dependant variable.  An example in blockchains and banking is that if the financial institutions improve their services quality, then they will regain their customers and blockchains will be affected. Lee, (2018) reported that, a dependant variable can also be measured by understanding which aspect is of interest to a researcher. For example, the impacts of blockchain are of interest in this research which makes it the dependant variable.

The second article that has been used is article by Krosnick (2018) who also takes about the appropriate ways to measure dependant variable which include finding the problem in the statement. Krosnick (2018) state that dependant variables are problems that a researcher wants to find solution to. Therefore, in this case the researcher wants to find the impacts of blockchains which makes the blockchains the dependat variables.

How to most appropriately Measure the Dependent Variable

To explain the other two variables, two articles have been used; they include https:/www.kenethspencer/urt/business journal/1-2. The article was retrieved on 23th May 2018 which was reviewed by (Keith & Krosnick, 2018) and https:/www.cash/2015/variables/business report/44-56 written by Cash (2015). According to Cash (2015), independent variables are that stand on their own and cannot be changed by any factor. Cash further gives an example where he states that the age of somebody is an independent variable. Independent variable causes some change on the dependant or any other variable. In the statement of the problem it this study, independent variable is the financial institution and it can be hypothesized to explain the dependant variable. A researcher can form hypothesis on the financial institutions to get how the blockchains affect the sales in the financial organizations. The difference between the independent and dependent variables is that dependent variable depends on the independent variable while the independent variable stands alone (Cash, 2015).

Keith and Krosnick (2018) in their article discusses about the mediating variable. Keith and Krosnick (2018), define mediating variable as a factor that explains the relations between the dependant variables and independent variables. Mediating variables explains how the independent variables and dependent variables are connected in a problem statement. In the problem statement under discussion the impacts are mediating variables because they discuss why blockchains and financial institutions are connected to form a problem statement. Mediating variables may be the answers from the problems statement. In other words, the solution of the problem may be the mediating variable. For example, mediating variable in this study may be one of the impacts which are the decrease of customers who visit the banks for various services.

Another article used in the study is “moderating variable” https//: www.buscom.com/ variable/slideshare/moderator which was retrieved from the internet on 23th 2018 0600h. The article was written by Baskett and Schemske (2018). Baskett and Schemske (2018) stated in their article that moderator is a variable that strengthens the relationship between the independent and dependent variables. In this case, moderator variable is an aspect that links impacts of blockchains on the financial market. When you say that blockchains threatens the value of hard currency from the bank, a moderator variable will come in to discuss how blockchains affect the value of hard currency.

The last article that has been used is “measure validity of variables” https//: www.jout.com/ variable/educom/measure/variables which was retrieved from the internet on 23th 2018 0600h. The article was written by Jonathan et al (2017). The article talks about the ways a person can know if the variables are reliable and valid. Jonathan and his colleagues’ defined validity as something make sense and it is not vague. The validity of a variable can be judged through testing the reliability of the variable and if the variables are logical. Jonathan et al (2017) reported that the viability of a variable is when it logically makes sense. Reliability is the consistency of the statement problem. A reliable variable is the one that can survive for a long time.

Two other Variables (independent, mediating or moderating) which are Hypothesized to Influence or Explain the Dependent Variable

Hobday et al (2016) defined hypothesis as statements which are propositional, and assume that some things occur yet they do not have tangible evidence to support the statements. The evidence may come up when a researcher conducts study that supports the statements (Jonathan et al., 2017). Jonathan et al (2017) also explains that researcher develop hypothesis to see the assumptions made and also to find the gap which can led to further research. In this study, the list of the hypothesis includes;

1. If blockchains continues to develop, banks my close.
2. If the blockchains improve the speed of delivering services, companies will lose its market very simple.
3. If technology continues to rise the way it is rising like this, the blockchains will become very popular thus the use of banks may be deemed useless.
4. If the governments allow blockchain to continue operating, the value of hard currency may decrease and the value of digital currency may go up.
5. Conceptual model for the relationship

Figure1. Shows the conceptual model for the above relationship (Hamid et al., 2017)

The theory that underpins the conceptual model in this context is the Actor-Network Theory that explains the relationship between the human s and the increasing technological advancements for example the blockchains and how they affect the normal lives of human beings. According to Greenwood and Freeman (2018) the theory was proposed in 1991 by Michel Callon. The theory attempts to explain how the networks were formed and how they fall apart. Blockchains likewise was formed through a lot of networks but can fall anytime according to the theory.

Questionnaire

A).indicate your gender here please by ticking where appropriate [a] Male [b] Female

(B) Tick where your age falls           16……..24

                                                          25……..34

                                                           35……..44

                                                           45……..54

                                                           55……..64

                                                             Above 75

To bank managers

(C). What do you know about blockchains?………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

(D). Can you tell how blockchains affect the banking system?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

(E) What are you doing as the banking manger to compete with blockchains on the same level………………………………………………………………………………………………………………………………………………………………………………………………..

To customers

1. Have you ever had of blockchains? YES/NO
2. If yes how can you compare it with hard cash banking?………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
3. Do you have account with one of the blockchain protocols? YES/NO
4. If yes how are their services compared to those of financial institutions?………………………………………………………………………………………………………………………………………………………………………………………………………………………………….
5. Developing of Research Plan using Proposed Quantitative Method

Quantitative research method is a research method that emphasizes the goals, statistics, measurement, mathematical and numeric data analysis that has been collected through questionnaires, polls, and reviewing the existing information by use of computer technologies (Donnarumma et al., 2017). Quantitative research methods can be used to develop an excellent research plan which can be used in solving the problem that has arise in the organization or the industry. According to Greenwood and Freeman (2018), quantitative research method is one of the best method of extracting achieve for research purposes.

Population of Interest and Sampling Frame to be Use

Coffee Jr, Sale and Henderson (2015), defined population of interest as the group of people with whom a researcher has an interest of studying so that he/she can find solution to the problem. The sampling frame on the other hand is the procedure that will be followed by a researcher when he or she will be conducting the research (Cash, 2015). In the statement problem above the people will be used in the study are the people who use both blockchain protocols and the banks and the mangers of the financial institutions. The total of six people will be used in the study. The sampling frame of the people to be included in the study is people from the capital of Australia.

Data Collection Techniques

Sampling techniques are the methods that will be used to collect data for the study (Brace, 2018). The study herein will use the following sampling techniques; first, the use of questionnaires, questionnaires will be used to collect data from the customers and financial institutions managers. Questionnaires are prepared questions that reflect the hypothesis of the study and are meant to find solutions of the problem statement. Questionnaires are very good in getting the innermost and most sincere opinions of target population hence are the best for this study. Mail survey will also be sued as many people are nowadays are fond of mails and am be seen easily. Since this research is a technological one mail survey is the best data collection method.

Data Analysis

According to Coffee Jr, Sale and Henderson (2015) data analysis is the process where a researcher model data, inspect it, cleanse the information and transform it with the aim of extracting the important and helpful data which can be used in providing recommendations and making decisions. The data will be analysed by understanding the answers of the participants and using algorithms where necessary. The data will be analysed by securitizing it, undertaking series of discussion and examining the raw information deeply and writing the results.

Ethical Implication and how to address the Implications

Ethical implications are the ethical penalties that a researcher may be subjected to after he/she goes against the guidelines put in place to monitor the research process (Rack, 2017). The ethical implications include first, not keeping your sources confidential, second, being bias during the research process, third, reporting incomplete research and lastly not having evidences for allegations made. The researcher can avoid these implications by one, keeping the information of the source who does not want to go public confidential because it is their right. Second, the researcher should be fair in our research by providing accurate data. Lastly, the researcher should have evidence for any allegations he/she is going o mention to be on the safe side (Sahin et al., 2016).

Reference List

Baskett, C. A., & Schemske, D. W. (2018). Latitudinal patterns of herbivore pressure in a temperate herb support the biotic interactions hypothesis. Ecology letters, 21(4), 578-587.

Brace, I. (2018). Questionnaire design: How to plan, structure and write survey material for effective market research. Kogan Page Publishers.

Cash, T. F. (2015). Multidimensional Body–Self Relations Questionnaire (MBSRQ). In Encyclopedia of Feeding and Eating Disorders (pp. 1-4). Springer Singapore.

Coffee Jr, J. C., Sale, H., & Henderson, M. T. (2015). Securities regulation: Cases and materials.

Donnarumma, F., Costantini, M., Ambrosini, E., Friston, K., & Pezzulo, G. (2017). Action perception as hypothesis testing. Cortex, 89, 45-60.

Greenwood, M., & Freeman, R. E. (2018). Deepening Ethical Analysis in Business Ethics. Journal of Business Ethics, 1-4.

Hamid, K., Suleman, M. T., Ali Shah, S. Z., Akash, I., & Shahid, R. (2017). Testing the weak form of efficient market hypothesis: Empirical evidence from Asia-Pacific markets.

Hobday, A., Ling, S., Holbrook, N., Caputi, N., McDonald Madden, E., McDonald, J., & Munday, P. (2016). National Climate Change Adaptation Research Plan: Marine Biodiversity-Consultation Draft for review.

Jonathan, A., Seth, D., Terry, R., Michael, E., & del Rio, M. (2017). Isotopic niches support the resource breadth hypothesis. Journal of animal ecology.

Keith. S., & Krosnick, J. A. (2018). Questionnaire design. In The Palgrave Handbook of Survey Research (pp. 43-55). Palgrave Macmillan, Cham.

Krosnick, J. A. (2018). Questionnaire design. In The Palgrave Handbook of Survey Research (pp. 439-455). Palgrave Macmillan, Cham.

Lee, W. W. (2018). Ethical Computing Continues From Problem to Solution. In Encyclopedia of Information Science and Technology, Fourth Edition (pp. 4884-4897). IGI Global.

O’mara, A., Rowland, J. H., Greenwell, T. N., Wiggs, C. L., Fleg, J., Joseph, L., … & Bray, R. (2017). National Institutes of Health Research Plan on RehabilitationNIH Medical Rehabilitation Coordinating Committee. Physical therapy, 97(4), 404-407.

Rack, J. P. (2017). Dyslexia: The phonological deficit hypothesis. In Dyslexia in children (pp. 5-37). Routledge.

Sahin, M., Henske, E. P., Manning, B. D., Ess, K. C., Bissler, J. J., & Klann, E. (2016). Tuberous sclerosis complex working group to update the research plan. Advances and future directions for tuberous sclerosis complex research: recommendations from the 2015 strategic planning conference. Pediatr Neurol, 60, 1-12.

Schönbrodt, F. D., Wagenmakers, E. J., Zehetleitner, M., & Perugini, M. (2017). Sequential hypothesis testing with Bayes factors: Efficiently testing mean differences. Psychological Methods, 22(2), 322.

Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach. John Wiley & Sons.

Sigler, M. F., Eagleton, M., Helser, T. E., Olson, J. V., Pirtle, J. L., Rooper, C. N., … & Stone, R. P. (2017). Alaska Essential Fish Habitat Research Plan: a research plan for the National Marine Fisheries Service’s Alaska Fisheries Science Center and Alaska Regional Office.

Van Aken, J. E., & Berends, H. (2018). Problem solving in organizations. Cambridge University Press.

Vdorhees, E. M. (2017). The cluster hypothesis revisited. In ACM SIGIR Forum (Vol. 51, No. 2, pp. 35-43). A