Ch01 1

675 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
675
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
22
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Ch01 1

  1. 1. Business Research Methods William G. Zikmund Chapter 1:The Role of Business Research
  2. 2. BUSINESS RESEARCH DEFINEDBusiness research is defined asthe systematic and objectiveprocess of generating informationfor aid in making businessdecisions. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  3. 3. BUSINESS RESEARCH•Research information is neither intuitive norhaphazardly gathered. •Literally, research (re-search) -“search again”•Business research must be objective •Detached and impersonal rather than biased•It facilitates the managerial decision processfor all aspects of a business. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  4. 4. I don’t know if weINFORMATION should offer on-site child care? REDUCESUNCERTAINTY Copyright © 2000 by Harcourt, Inc. All rights reserved.
  5. 5. • “It ain’t the things we don’t know that gets us in trouble. It’s the things we know that ain’t so.” Artemus Ward Copyright © 2000 by Harcourt, Inc. All rights reserved.
  6. 6. Business Research Types Basic Research Applied Research Copyright © 2000 by Harcourt, Inc. All rights reserved.
  7. 7. BASIC RESEARCH• ATTEMPTS TO EXPAND THE LIMITS OF KNOWLEDGE.• NOT DIRECTLY INVOLVED IN THE SOLUTION TO A PRAGMATIC PROBLEM. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  8. 8. BASIC RESEARCH EXAMPLE• Is executive success correlated with high need for achievement?• Are members of highly cohesive work groups more satisfied than members of less cohesive work groups?• Do consumers experience cognitive dissonance in low-involvement situations? Copyright © 2000 by Harcourt, Inc. All rights reserved.
  9. 9. "The secret of success is to know something nobody else knows. " Aristotle Onassis Copyright © 2000 by Harcourt, Inc. All rights reserved.
  10. 10. APPLIED RESEARCH• CONDUCTED WHEN A DECISION MUST BE MADE ABOUT A SPECIFIC REAL-LIFE PROBLEM Copyright © 2000 by Harcourt, Inc. All rights reserved.
  11. 11. APPLIED RESEARCH EXAMPLE• Should McDonald’s add Italian pasta dinners to its menu?• Business research told McDonald’s it should not.• Should McDonalds add a “Whopper Stopper” burger to its menu?• The MBX is now being researched. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  12. 12. SCIENTIFIC METHOD• The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptions. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  13. 13. The decision-making processassociated with the development and implementation of a strategy• Identifying problems and opportunities• Diagnosis and Assessment• Selecting and implementing a course of action• Evaluating the course of action Copyright © 2000 by Harcourt, Inc. All rights reserved.
  14. 14. Evaluation research• Evaluation research is the formal, objective measurement and appraisal of the extent to which a given activity, project, or program has achieved its objectives. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  15. 15. PERFORMANCE-MONITORING RESEARCH• RESEARCH THAT REGULARLY PROVIDES FEEDBACK FOR EVALUATION AND CONTROL• INDICATES THINGS ARE OR ARE NOT GOING AS PLANNED• RESEARCH MAY BE REQUIRED TO EXPLAIN WHY SOMETHING “WENT WRONG” Copyright © 2000 by Harcourt, Inc. All rights reserved.
  16. 16. Total Quality Management (TQM)• A business philosophy that embodies the belief that the management process must focus on integrating customer-driven quality throughout the organization. quality (TQM) is a bodies belief that the Copyright © 2000 by Harcourt, Inc. All rights reserved.
  17. 17. TQM• Stresses continuous improvement of product quality and service.• Managers improve durability and enhance features as the product ages.• Managers strive to improve delivery and other services to keep their companies competitive. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  18. 18. Determining When to Conduct Business Research Availability of BenefitsTime Constraints Data Nature of the Decision vs. Costs Is the infor- Does the value Is sufficient time Yes mation already Yes Is the decision Yes of the research Yes Conducting available before of considerable a managerial on hand strategic information Business inadequate exceed the cost decision for making or tactical of conducting Research must be made? importance? the decision? research? No No No No Do Not Conduct Business Research Copyright © 2000 by Harcourt, Inc. All rights reserved.
  19. 19. Determining When to Conduct Business Research• TIME CONSTRAINTS• AVAILABILITY OF DATA• NATURE OF THE DECISION• BENEFITS VERSUS COSTS Copyright © 2000 by Harcourt, Inc. All rights reserved.
  20. 20. Potential value of a business research effort should exceed itsestimated costs Costs Value •Research Expenditures • Decreased Certainty •Delay of Marketing •Increased Likelihood Decision and of a Correct Decision Possible Disclosure •Improved Marketing of Information to Performance and Rivals Resulting Higher •Possible Erroneous Profits Research Results Copyright © 2000 by Harcourt, Inc. All rights reserved.
  21. 21. Major Topics for Research in Business• General Business Conditions and Corporate Research• Financial and Accounting Research• Management and Organizational Behavior Research• Sales and Marketing Research• Information Systems Research• Corporate Responsibility Research Copyright © 2000 by Harcourt, Inc. All rights reserved.
  22. 22. CROSS-FUNCTIONAL TEAMS• Cross-functional teams are composed of individuals from various organizational departments such as engineering, production, finance, and marketing who share a common purpose. Copyright © 2000 by Harcourt, Inc. All rights reserved.
  23. 23. GLOBAL RESEARCH• Business Research is increasingly global• Market knowledge is essential• A.C. Nielsen - more that 60% international business Copyright © 2000 by Harcourt, Inc. All rights reserved.

×