Research Analysis Project

Let's break down the concept of a "Research Analysis Project" in the context of entrepreneurship projects at Legacy, how we identify them, and outline our research strategy as consultants to assist your business.

What is a Research Analysis Project in Entrepreneurship at Legacy?

A Research Analysis Project, in the realm of entrepreneurship at Legacy, is a comprehensive study that offers a high-level understanding of a specific organization, industry, or sector. Its primary aim is to assess the business environment, uncover critical variables, and provide insights that enable our clients to gain a competitive edge. These projects can generally be categorized into two types:

  • Industry/Market Analysis: This type involves a deep dive into an entire industry or market. We examine aspects such as industry overview, segmentation, key products and technologies, end-users, innovations, and the current state and future outlook of the industry.
  • Competitive Positioning Analysis: Here, we assess how a particular organization measures up against its competitors in the market. This includes evaluating whether the organization is outperforming market expectations, performing on par with competitors, or falling behind industry benchmarks.

At Legacy, our focus primarily revolves around the first type – providing holistic insights into specific industries and markets.

Identifying Research Analysis Projects

To identify and select Research Analysis Projects for our clients, we follow a meticulous process:

  • Client Needs Assessment: We start by understanding your business objectives, challenges, and areas where strategic insights are required. This often involves discussions with you, the client, to ensure we align with your goals.
  • Market Opportunity Assessment: We analyze the potential impact and value of conducting a Research Analysis Project in a specific industry or sector. This helps us prioritize projects that are most beneficial to your business.
  • Resource Evaluation: We assess the availability of data and resources needed for the project. This includes evaluating whether reputable reports, organizations, or industry experts can provide the necessary information.

At Legacy, our focus primarily revolves around the first type – providing holistic insights into specific industries and markets.

Our Research Strategy

Once we've identified a Research Analysis Project, we employ a well-defined research strategy:

  • Keyword and Search String Queries: We start with general searches using relevant keywords. If needed, we refine our queries using Boolean logic and advanced search methods.
  • Utilizing Reputable Sources: We rely on authoritative sources like the UN, Commonwealth, and reputable market research firms for industry insights. Stakeholder annual reports and trade association publications often serve as valuable starting points.
  • Expert Interviews and Media Articles: We reach out to industry experts for insights and seek relevant news and media articles to validate and enhance our findings.
  • Industry Reports from Key Players: Reports from renowned firms like EY, Deloitte, PwC, and Accenture provide critical industry overviews and future outlooks.
  • Data Triangulation and Assumptions: If necessary, we employ data triangulation and clearly state any assumptions or calculations made to ensure transparency.

Client Update (PCU/FCU)

If we encounter challenges in finding specific information during the research process, we provide a Client Update (PCU/FCU). This includes alternative findings, a description of our search efforts, and reasons for any information gaps.

In summary, our approach at Legacy is to tailor our Research Analysis Projects to your specific needs, leverage trusted sources, and employ a robust research strategy to deliver actionable insights that can drive your business forward. We're committed to providing you with a competitive edge through thorough and well-executed research.

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