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Chapter One RESEARCH IN BUSINESS

Chapter One RESEARCH IN BUSINESS. What is Business Research?. A systematic Inquiry whose objective is to provide information to solve managerial problems. Why Study Research?. Research provides you with the knowledge and skills needed for the fast-paced decision-making environment.

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Chapter One RESEARCH IN BUSINESS

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  1. Chapter OneRESEARCH IN BUSINESS

  2. What is Business Research? • A systematic Inquiry whose objective is to provide information to solve managerial problems.

  3. Why Study Research? • Research provides you with the knowledge and skills needed for the fast-paced decision-making environment

  4. Why Managers need Better Information • Global and domestic competition is more vigorous • Organizations are increasingly practicing data miningand data warehousing

  5. The Value of Acquiring Research Skills • To gather more information before selecting a course of action • To do a high-level research study • To understand research design • To evaluate and resolve a current management dilemma • To establish a career as a research specialist

  6. Types of Studies Used to do Research • Reporting • Descriptive • Explanatory • Predictive

  7. Different Styles of Research • Applied Research • Pure Research/Basic Research

  8. What is Good Research? • Following the standards of the scientific method • Purpose clearly defined • Research process detailed • Research design thoroughly planned • Limitations frankly revealed • High ethical standards applied

  9. What is Good Research? (cont.) • Following the standards of the scientific method (cont.) • Adequate analysis for decision-maker’s needs • Findings presented unambiguously • Conclusions justified • Researcher’s experience reflected

  10. The Manager-Researcher Relationship • Manager’s obligations • Specify problems • Provide adequate background information • Access to company information gatekeepers • Researcher’s obligations • Develop a creative research design • Provide answers to important business questions

  11. Manager-Researcher Conflicts • Management’s limited exposure to research • Manager sees researcher as threat to personal status • Researcher has to consider corporate culture and political situations • Researcher’s isolation from managers

  12. When Research Should be Avoided • When information cannot be applied to a critical managerial decision • When managerial decision involves little risk • When management has insufficient resources to conduct a study • When the cost of the study outweighs the level of risk of the decision

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