Download - Business Research Methods Chap001
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1-2McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc.,All Rights
Reserved.
Part OneINTRODUCTION TO
BUSINESS RESEARCH
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Chapter OneRESEARCH IN BUSINESS
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What is Business Research?
• A systematic Inquiry whose objective is to provide information to solve managerial problems.
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Why Study Research?
• Research provides you with the knowledge and skills needed for the fast-paced decision-making environment
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Why Managers need Better Information
• Global and domestic competition is more vigorous
• Organizations are increasingly practicing data mining and data warehousing
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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
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Types of Studies Used to do Research
• Reporting
• Descriptive
• Explanatory
• Predictive
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Different Styles of Research
• Applied Research
• Pure Research/Basic Research
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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
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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
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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
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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
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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