Transcript Ch1_RM

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Part One
INTRODUCTION TO
BUSINESS RESEARCH
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McGraw-Hill/Irwin
© 2003 The McGraw-Hill Companies, Inc.,All Rights Reserved.
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 dynamic
• 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
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Reporting
Descriptive
Explanatory
Predictive
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 decisionmaker’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
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