1-1 Chapter One RESEARCH IN BUSINESS. 1-2 What is Business Research? A systematic Inquiry whose objective is to provide information to solve managerial.
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Presentation on theme: "1-1 Chapter One RESEARCH IN BUSINESS. 1-2 What is Business Research? A systematic Inquiry whose objective is to provide information to solve managerial."— Presentation transcript:
1-2 What is Business Research? A systematic Inquiry whose objective is to provide information to solve managerial problems.
1-3 Why Study Research? Research provides you with the knowledge and skills needed for the fast-paced decision-making environment
1-4 Why Managers need Better Information Global and domestic competition is more vigorous Organizations are increasingly practicing data mining and data warehousing
1-5 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
1-6 Types of Studies Used to do Research Reporting Descriptive Explanatory Predictive
1-7 Different Styles of Research Applied Research Pure Research/Basic Research
1-8 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
1-9 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
1-10 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
1-11 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
1-12 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