Learning Team A
(Ado Ellzey, Camille Dingle, Cicely Lester, Karis Jones, Slyvester Hardy, Toni Shaw) September 14, 2009
Applied Business Research and Statistics 561
University of Phoenix
Dr. Abdel Mahdi Al-Husseini, Instructor
The mortgage industry has been devastated by loan foreclosures from financial institutions like Monarchy Bank. The foreclosure rate in the US alone has risen to levels unseen since the depression. This sudden rise in foreclosure rates has led management to evaluate the reasons for the high foreclosure rates. Management must take an aggressive position to discover the reasons and what went wrong at Monarchy. The management team has requested research using a survey as the main instrument be conducted to help understand the bank’s past lending history to ensure ineffective policies are not repeated.
The main question management wants to answer is “How can Monarchy Bank minimize the high rate of foreclosures?” The research conducted by Ozone Research Group will provide management with some insight into the reasons the bank has such a high foreclosure rate. Ozone Research Group developed the research question with the management team. This question guided the research efforts to include the following: (1. development of a research questionnaire, (2. selection the population and sample size, (3. collection and analysis of data, (4. exploration of customers and competitors, (5. sampling method, and (6. reporting.
Ozone Research Group used the following research process steps to manage the survey: * purpose clearly defined
* research process detailed
* research design thoroughly planned
* high ethical standards applied
* limitations frankly revealed
* adequate analysis for decision maker’s needs * findings...