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Myanmar is a country endowed with natural resources and a good potential to grow her economy. Currently, most people are at lower income levels, but there are a lot of people with high income and thus spending power. Myanmar people are also good in adopting new products and technologies available in other countries. For instance, Myanmar people are now using smart phones and social media such as Facebook. This can be considered as a good opportunity to cater good financial services to Myanmar people, especially those living in large urban areas.
Myanmar is opening its doors to foreign businesses and investors. Myanmar has allowed some foreign banks to open their branches in Myanmar. However, they are not allowed to operate the retailing in banking services like domestic banks. Foreign banks are awaiting the opening of the market for them to run the retail banking. The private banks in Myanmar are also increasingly gaining the experiences that will make more competitive against foreign banks in the future.
The XYZ bank is one of the banks originated in Singapore operating in a number of countries in Asia. The bank is a market leader in Singapore in the retail banking sector and well known for its services. The bank opened its branch in Myanmar soon after the government of Myanmar allowed foreign banks to operate in Myanmar. Singapore is the second largest investor in Myanmar with the largest number of enterprises.
The CEO of XYZ in Myanmar is analyzing the financial market and it is crafting the strategy for the next five years. He is willing to estimate the market potential of financial services and prepare some expansion plan in order to capture the opportunities emerged in the future. As he is in lack of necessary data and information, he is seeking assistance to develop the strategic planning for next five years.
1. You, as the research director of XYZ Myanmar, are required to assist the CEO of XYZ Myanmar to make a decision about the establishments of new offices or branches in other cities in Myanmar. Develop the research proposal for this purpose. The proposal should contain approximately 2000 words. In developing the proposal, assumptions can be made. If there are assumptions made, present them in the proposal document. Your proposal must contain the following elements:
• Research Problem / Research Question
• Research objectives
• Types of Research Methods
• Data required and methods of data collection
• Sample Design
2. Conduct a literature review about market measurement and demand forecasting of financial services which will be used in the research proposed in the question (1). The length of the literature review should be approximately 2000 words. The literature review must be presented systematically, using the Harvard Referencing Method.
Myanmar is a country endowed with natural resources and a good potential to grow her economy. Currently, most people are at lower income levels, but there are a lot of people with high income and thus spending power. Myanmar people are also good in adopting new products and technologies available in other countries.