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Chapter One

RESEARCH 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