Fundamentals of Research Methods Chap 1Presentation Transcript
Chapter 1 Research in Business 1-
Learning Objectives 1-
Understand . . .
what business research is and how it differs from business decision support systems and business intelligence systems
trends affecting business research and the emerging hierarchy of business decision makers
the distinction between good business research and research that falls short of professional quality
the value of learning business research process skills
Why Study Business Research? 1- Business research provides information to guide business decisions
Business Research Defined 1- A Systematic Inquiry whose Objective is to provide information to managerial problems
Studying Business Research 1- Complex Decisions Stakeholder Influence Factors Growth of Internet Business as a discipline Government Intervention Greater Computing Power New Research Perspectives Competition
Storing vast amounts of data in electronic storehouses
Applying mathematical models to extract meaningful knowledge from data in internal databases
Decision Support Systems
Numerous elements of data organized for retrieval and use in business decision making
Stored and retrieved via
Business Intelligence Systems
Ongoing information collection
Focused on events, trends in micro and macro-environments
Types of Research study 1- Reporting Explanatory Predictive Descriptive
Research May Be Unnecessary
Can information be applied to a critical decision?
Does it improve managerial decision-making?
Are sufficient resources available?
Exhibit 1-8 Characteristics of Good Research 1- Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed Adequate analysis Unambiguous presentation Conclusions justified Credentials
Exhibit 1-4 Who Conducts Business Research? 1- Internal External
Eastman Kodak has a world-class research department 1-
Exhibit 1-4 Business Research Suppliers 1- External Research Suppliers Business Research Firms Communication Agencies Consultants Trade Associations