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PowetPoints without Animation

  1. 1. Business Research for the 21 st Century <ul><li>Learning Objectives : </li></ul><ul><li>Provide an orientation to modern day business research. </li></ul><ul><li>Define business research and the people who use it. </li></ul><ul><li>Discuss recent business trends and how they effect business research. </li></ul><ul><li>Examine research related technologies. </li></ul><ul><li>Introduce Samouel’s restaurant case analysis. </li></ul>Chapter 1
  2. 2. Business Research <ul><li>. . . seeks to predict and explain all phenomena that taken together comprise the ever-changing business environment. </li></ul><ul><li>. . . finds answers that (a) improve business performance, and (b) improve the lives of customers, employees and owners. </li></ul>
  3. 3. Business Research . . . . is a truth-seeking function that gathers, analyzes, interprets and reports information so that business decision makers become more effective.
  4. 4. Key Elements of Business Research <ul><li>Business research is broad. </li></ul><ul><li>Business research can be formal. </li></ul><ul><li>Business research can be informal. </li></ul><ul><li>Good research is replicable. </li></ul><ul><li>Good research should provide more benefit than it costs. </li></ul>
  5. 5. Applied and Basic Business Research <ul><li>Applied </li></ul><ul><ul><li>How will the acquisition of new vineyard property affect profitability of Martinelli Winery? </li></ul></ul><ul><ul><li>Can prospective employee psychological profiles be used to reduce turnover at Sacred Heart Hospital? </li></ul></ul><ul><li>Basic </li></ul><ul><ul><li>What factors relate to consumer perceptions of a wine’s overall quality? </li></ul></ul><ul><ul><li>Does job stress affect the job performance and satisfaction of male and female service providers? </li></ul></ul>
  6. 6. Who Uses Business Research? <ul><li>High Tech Firms </li></ul><ul><li>Low Tech Firms </li></ul><ul><ul><li>Manufacturing </li></ul></ul><ul><ul><li>Service </li></ul></ul><ul><li>Not for Profits </li></ul><ul><ul><li>Charitable Organizations </li></ul></ul><ul><ul><li>Government Organizations </li></ul></ul><ul><ul><ul><li>Law makers </li></ul></ul></ul><ul><ul><ul><li>Courts </li></ul></ul></ul>
  7. 7. Business Research Go On-Line www. tamtam .com Relationship Marketing International Research Expanding Market Freedom Trends Impacting Business Research Information Revolution
  8. 8. Information Revolution and Research <ul><li>Electronic Communication </li></ul><ul><li>Networking </li></ul><ul><li>Data Warehouse </li></ul><ul><ul><li>“ Off the shelf” data </li></ul></ul><ul><li>Organizational Learning </li></ul><ul><li>Satellite Technology </li></ul>
  9. 9. What do these acronyms mean? Go On-Line www.technology.com PUSH SMART ATM ASP LATEX Crypto Rage PATROL
  10. 10. The KDD process involves the following steps: Go On-Line www.dogpile.com <ul><li>Establishing access to relevant data; </li></ul><ul><li>Selecting the set of events (data) to be analyzed; </li></ul><ul><li>Cleaning this data so it is understood by the algorithm; </li></ul><ul><li>Developing and using rules for selecting interesting relationships; and </li></ul><ul><li>Developing a report of relationships that may affect firm performance. </li></ul>
  11. 11. How the information age is affecting researchers and decision makers: <ul><ul><li>Matter matters less. </li></ul></ul><ul><ul><li>Distance matters less. </li></ul></ul><ul><ul><li>Time matters more. </li></ul></ul><ul><ul><li>Customization matters more. </li></ul></ul><ul><ul><li>People matter more. </li></ul></ul>
  12. 12. Business Research Go On-Line www.autonomy.com What is located on this website that is of value to business researchers?
  13. 13. Internal Versus External Researchers? <ul><li>Hire outside consultant/researchers? </li></ul><ul><ul><li>Does the research require special expertise? </li></ul></ul><ul><ul><li>Can employees be objective? </li></ul></ul><ul><ul><li>Are new insights desired? </li></ul></ul><ul><li>Perform research “in-house?” </li></ul><ul><ul><li>Do we want to save time? </li></ul></ul><ul><ul><li>Is close employee collaboration required? </li></ul></ul><ul><ul><li>Do we want to save money? </li></ul></ul><ul><ul><li>Will we need to follow up on the results? </li></ul></ul>
  14. 14. Research Proposals <ul><li>A formal written proposal is the result of interactions between a client and a researcher. </li></ul><ul><li>It translates business concerns into research problems. </li></ul><ul><li>An approach to solve the problem(s) is agreed upon (it involves performing research). </li></ul>
  15. 15. Structure of Research Proposal <ul><li>Project Title. </li></ul><ul><li>Background Information – specifies events leading up to request for the proposal to be prepared and submitted. </li></ul><ul><li>Problem Statement and Research Objectives. </li></ul><ul><li>Research Strategy and Methods – data to be collected, how it will be collected and analyzed. This summarizes steps that will be taken to achieve the research objectives. </li></ul><ul><li>Nature of the Final Report to be submitted – specifies type and nature of report. </li></ul><ul><li>Budget and Schedule. </li></ul><ul><li>Qualifications of Project Consultants and Research Firm. </li></ul>
  16. 16. Summary <ul><li>Provide an orientation to modern day business research. </li></ul><ul><li>Define business research and the people who use it. </li></ul><ul><li>Discuss recent business trends and how they affect business research. </li></ul><ul><li>Examine research related technologies. </li></ul>
  17. 17. Variable Description Variable Type Work Environment Measures X 1 I am paid fairly for the work I do. Metric X 2 I am doing the kind of work I want. Metric X 3 My supervisor gives credit an praise for work well done. Metric X 4 There is a lot of cooperation among the members of my work group. Metric X 5 My job allows me to learn new skills. Metric X 6 My supervisor recognizes my potential. Metric X 7 My work gives me a sense of accomplishment. Metric X 8 My immediate work group functions as a team. Metric X 9 My pay reflects the effort I put into doing my work. Metric X 10 My supervisor is friendly and helpful. Metric X 11 The members of my work group have the skills and/or training to do their job well. Metric X 12 The benefits I receive are reasonable. Metric Relationship Measures X 13 Loyalty – I have a sense of loyalty to Samouel’s restaurant. Metric X 14 Effort – I am willing to put in a great deal of effort beyond that expected to help Samouel’s restaurant to be successful. Metric X 15 Proud – I am proud to tell others that I work for Samouel’s restaurant. Metric Classification Variables X 16 Intention to Search Metric X 17 Length of Time an Employee Nonmetric X 18 Work Type = Part-Time vs. Full-Time Nonmetric X 19 Gender Nonmetric X 20 Age Nonmetric X 21 Performance Metric Description of Employee Survey Variables
  18. 18. Variable Description Variable Type Restaurant Perceptions X 1 Excellent Food Quality Metric X 2 Attractive Interior Metric X 3 Generous Portions Metric X 4 Excellent Food Taste Metric X 5 Good Value for the Money Metric X 6 Friendly Employees Metric X 7 Appears Clean & Neat Metric X 8 Fun Place to Go Metric X 9 Wide Variety of menu Items Metric X 10 Reasonable Prices Metric X 11 Courteous Employees Metric X 12 Competent Employees Metric Selection Factor Rankings X 13 Food Quality Nonmetric X 14 Atmosphere Nonmetric X 15 Prices Nonmetric X 16 Employees Nonmetric Relationship Variables X 17 Satisfaction Metric X 18 Likely to Return in Future Metric X 19 Recommend to Friend Metric X 20 Frequency of Patronage Nonmetric X 21 Length of Time a Customer Nonmetric Classification Variables X 22 Gender Nonmetric X 23 Age Nonmetric X 24 Income Nonmetric X 25 Competitor Nonmetric Description of Customer Survey Variables