What is Business Research? • A systematic Inquiry whose objective is to provide information to solve managerial problems.1-4
Why Study Research? • Research provides you with the knowledge and skills needed for the fast-paced decision-making environment1-5
Why Managers need Better Information • Global and domestic competition is more vigorous • Organizations are increasingly practicing data mining and data warehousing1-6
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 specialist1-7
Types of Studies Used to do Research • Reporting • Descriptive • Explanatory • Predictive1-8
Different Styles of Research • Applied Research • Pure Research/Basic Research1-9
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 applied1-10
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 reflected1-11
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 questions1-12
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 managers1-13
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 decision1-14
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