Presentation on theme: "QUANTITATIVE & QUALITATIVE RESEARCH ANALYSIS & DESIGN"— Presentation transcript:
1 QUANTITATIVE & QUALITATIVE RESEARCH ANALYSIS & DESIGN WithAssociate Professor Dr. GholamReza ZandiGraduate School of BusinessSEGi University
2 Learning Objectives 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 nature of the research process.
3 Why Study Business Research? Business research provides information to guide business decisionsBusiness research plays an important role in an environment that emphasizes measurement. Return on investment (ROI) is the calculation of the financial return for all business expenditures and it is emphasized more now than ever before. Business research expenditures are increasingly scrutinized for their contribution to ROMI.
4 Research Should Help Business Respond to Change “Enterprises have long recognized the needto better sense and respond to business change.What’s different today is that ubiquitous accessto information and real-time communicationshave fostered an ‘always on’ business culturewhere decision making has become a ‘just-in-timeprocess.’”Business Performance Management Forum
5 Business ResearchA process of determining, acquiring, analyzing, synthesizing, and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performanceBusiness research is a systematic inquiry that provides information to guide business decisions. The text definition is provided in the slide.Ask students to offer examples of types of decision-making situations that could be addressed using business research.
6 Research Should Reduce Risk The primary purpose of research is to reduce the level of risk of a business decisionUse this ad to talk about the different types of risk that organizations face. Students usually have no difficulty identifying financial/economic risk, but must stretch to identify other types of risks. Some of these include social risks (preserving their reputation), physical risk (represented by dangers to living things: product recalls in pet food and human food, pharmaceuticals, etc. provide examples.), environmental risk (preserving the organization’s relationship with their physical environment), technological risk (falling behind—or having the opportunity to leap ahead—of their competition).
7 What’s Changing in Business that Influences Research New Research PerspectivesInformation OverloadTechnological ConnectivityComputing Power & SpeedShifting Global EconomicsFactorsBattle for Analytical TalentCritical Scrutiny of BusinessSeveral factors increase the relevance for studying business research.Information overload. While the Internet and its search engines present extensive amounts of information, its quality and credibility must be continuously evaluated. The ubiquitous access to information has brought about the development of knowledge communities and the need for organizations to leverage this knowledge universe for innovation—or risk merely drowning in data. Stakeholders now have more information at their disposal and are more resistant to business stimuli.Technological connectivity. Individuals, public sector organizations, and businesses are adapting to changes in work patterns (real-time and global), changes in the formation of relationships and communities, and the realization that geography is no longer a primary constraint.Shifting global centers of economic activity and competition. The rising economic power of Asia and demographic shifts within regions highlight the need for organizations to expand their knowledge of consumers, suppliers, talent pools, business models, and infrastructures with which they are less familiar.Increasingly critical scrutiny of big business. The availability of information has made it possible for all a firm’s stakeholders to demand inclusion in company decision making, while at the same time elevating the level of societal suspicion.More government intervention. As public-sector activities increase in order to provide some minimal or enhanced level of social services, governments are becoming increasingly aggressive in protecting their various constituencies by posing restrictions on the use of managerial and business research tools.Battle for analytical talent. Managers face progressively complex decisions, applying mathematical models to extract meaningful knowledge from volumes of data and using highly sophisticated software to run their organizations. The shift to knowledge-intensive industries puts greater demand on a scarcity of well-trained talent with advanced analytical skills.Computing Power and Speed. Lower cost data collection, better visualization tools, more computational power, more and faster integration of data, and real-time access to knowledge are now manager expectations…not wistful visions of a distant future.New Perspectives on Established Research Methodologies. Older tools and methodologies, once limited to exploratory research, are gaining wider acceptance in dealing with a wider range of managerial problems.Government Intervention
8 Computing Power and Speed Lower-cost Data CollectionIntegration of DataBetter Visualization ToolsFactorsReal-time AccessPowerful Computation
9 Business Planning Drives Business Research OrganizationalMissionBusinessGoalsBusinessStrategiesBusinessTacticsAn organization’s mission drives its business goals, strategies, and tactics and, consequently, its need for business decision support systems and business intelligence. Students need to understand the differences in these concepts to fully understand what drives a manager to seek solutions through research.
10 Business Decisions and Research Häagen-Dazs TacticsSuper premiumDozens of flavorsSmall packagesSignature colors on packagingAvailable in franchise and grocery storesSelecting business strategies and tactics often drive research.A business strategy is defined as the general approach an organization will follow to achieve its business goals. A strategy might describe how an organization can best position itself to fulfill customer needs or establish a general approach to gaining brand equity. Haagen-Daz positioned itself with its super-premium ice-cream strategy.Business tactics are specific, timed activities that execute a business strategy. Haagen-Daz designed its ice-cream to be rich and creamy with flavors like “Peanut Butter Fudge Chunk.” It packaged the ice cream in pint size containers with signature gold and burgundy colors. It distributes the ice cream in grocery stores and franchised stores.
11 Business Intelligence Systems Decision Support Systems Information SourcesBusiness Intelligence SystemsOngoing information collectionFocused on events, trends in micro and macro-environmentsDecision Support SystemsNumerous elements of data organized for retrieval and use in business decision makingStored and retrieved viaIntranetsExtranetsWhen elements of data are organized for retrieval, they collectively constitute a business decision support system (DSS). This data is often shared over an intranet or an extranet.An intranet is a private network that is contained within an enterprise and is not available to the public at large. It may consist of many interlinked local area networks. It typically includes connections through one or more computers to the Internet. The main purpose of an intranet is to share company information and computing resources among internal audiences.An extranet is a private network that uses the Internet protocols and the public telecommunication system to share an organization’s information, data, or operations with external suppliers, vendors, or customers. An extranet can be viewed as the external portion of a company’s intranet.A business intelligence system (BIS) is designed to provide ongoing information about events and trends in the technological, economic, political and legal, demographic, cultural, social, and competitive areas.
12 Sources of Business Intelligence Government/RegulatoryCompetitiveEconomicDemographicBusinessIntelligenceExhibit 1-1Exhibit 1-1 shows some sources of business intelligence.Sources of government information include speeches by elected officials, recordings of public proceedings, press releases, and agency websites.Sources of competitive information include presentations at conferences, literature searches, press releases, syndicated industry studies, web sites, clipping services, and business research.Sources of economic information include literature searches and government reports.Sources of cultural and social information include syndicated studies, public opinion organizations, business research, and government reports.Sources of technological information include patent filings, web sites, syndicated industry studies, presentations at conferences, literature searches, and clipping services.Sources of demographic information include syndicated studies, government reports, and business research.Remind your students that they have an extensive list of business sources on the CD that accompanied their textbook. It’s a valued resource that will be useful if you assign projects within your course structure.If you want to explore the individual arenas of business intelligence, use the slides 1-14 through that follow; otherwise, hide them.TechnologicalCultural/Social
19 Hierarchy of Business Decision Makers Exhibit 1-2Exhibit 1-2 illustrates the hierarchy of business decision makers.In the bottom tier, most decisions are based on past experience or instinct. Decisions are also supported with secondary data searches.In the middle tier, some decisions are based on business research.In the top tier, every decision is guided by business research. Firms develop proprietary methodologies and are innovative in their combination of methodologies. There is access to research data and findings throughout the organization.In the section at the end of the slide deck, you can use the slide on Minute Maid to disucss these levels.
20 Research May Not Be Necessary Can It Pass These Tests?Can information be applied to a critical decision?Will the information improve managerial decision making?Are sufficient resources available?Business research is only valuable when it helps management make better decisions. A study may be interesting, but if it does not help improve decision-making, its use should be questioned. Research could be appropriate for some problems, but insufficient resources may limit usefulness.
21 Information Value Chain Data collection/transmissionDatamanagementCharacteristicsDecisionsupport systemsDatainterpretationComputers and telecommunications lowered the costs of data collection.Data management is now possible and necessary given the quantity of raw data.Models reflect the behavior of individuals, households, and industries.A DSS integrates data management techniques, models, and analytical tools to support decision making.Data must be more than timely and standardized; it must be meaningful.These are all characteristics of the information value chain.Models
22 The Research Process Exhibit 1-4 Exhibit 1-4 introduces the research process model used throughout the text and the PowerPoint slides.Instructors are encourage to give it a brief overview here, as a more detailed look is offered in chapter 4, and individual stages are discussed in subsequent chapters.
23 Characteristics of Good Research Clearly defined purposeDetailed research processThoroughly planned designHigh ethical standardsLimitations addressedAdequate analysisExhibit 1-5 presents the characteristics of good business research and also explains what managers should look for in research done by others.You might wish to discuss the concepts here, before you discuss who actually conducts research…or you might want to discuss who conducts research first, followed by this slide to summarize.The Snapshot: Mercedes Benz and TNS Infratest Develop Stars Insight can be used here.You can also use the From the Headlines discussion question here.Unambiguous presentationConclusions justifiedCredentials
24 Categories of Research AppliedBasic (Pure)Applied research applies research to discovering solutions for immediate problems or opportunities.Basic (or pure) research aims to solve perplexing questions or obtain new knowledge of an experimental or theoretical nature that has little direct or immediate impact on action, performance, or policy decisions.
25 Types of Studies Reporting Descriptive Explanatory Predictive The four studies (Classic Toys, MedImage, MoreCoatings, and York College) can be used to discuss each of these types of research.Reporting studies provide a summation of data, often recasting data to achieve a deeper understanding or to generate statistics for comparison.A descriptive study tries to discover answers to the questions who, what, when, where, and, sometimes, how.An explanatory study attempts to explain the reasons for the phenomenon that the descriptive study only observedA predictive study attempts to predict when and in what situations an event will occur. Studies may also be described as applied research or basic research.
26 Research Though Stimulators “This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has in the last 50.”Bill Gates, entrepreneur and founderMicrosoftUse this quote to discuss why research is important in a time of change.