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Business Research
Methods

Chapter 01
Research in Business
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Why Study Business


Research

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Business research is a systematic


inquiry that provides information to
guide managerial decisions.
It is a process of planning, acquiring,
analysing, and disseminating relevant
data, information, and insights to
decision makers in ways that mobilize
the organization to take appropriate
actions that, in turn, maximize
business performance.
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Factors stimulate interests


in studying research
methods

Explosive growth and influence of the Internet.


Stakeholders demanding greater influence.
More vigorous competition.
More government intervention.
More complex decision.
Maturing of management as a group of
disciplines.
Greater computing power and speed.
New perspectives on established research
methodologies.
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Planning Drives
Business
Research
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Goals

Sales
Market share,
ROI
Profitability
Customer acquisition
Customer satisfaction
Customer retention
Employee productivity
Machine efficiency
Maximization of stock price
etc
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Decision Support
Through both intranets & extranets
parties can access proprietary
relational databases containing
managerial decision-related
information.

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Business Intelligence
See exhibit 1.1

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Question 4 (p.25)
A sales force manager need to have
information to decide whether to
create a custom motivation program
or purchase one offered by a
consulting firm. What are the
dilemmas the manager faces in
selecting either of these alternatives.

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Strategy
Strategy is the general approach an
organization will follow to achieve its
goals.

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Tactics
Purposes of business research
To identify and define opportunities &
problems
To define, monitor and refine strategies
To define, monitor and refine tactics
To improve our understanding of the
various fields of management

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Emerging Hierarchy of
Information-based Decision
Makers

Top tier: visionaries


Middle Tier: Standardized Decision
Makers
Base Tier: Intuitive Decision Makers

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What is Good
Research?

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Characteristics of good
research

Purpose clearly defined.


Research process detailed.
Research design thoroughly planned.
High ethical standards applied.
Limitation frankly revealed.
Analysis adequate for decision makers
needs.
Findings presented unambiguously.
Conclusions justified.
Researchers experience reflected.
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Question 8 (p.26)
As area sales manager for a company
manufacturing and marketing outboard
engines, you have been assigned the
responsibility of conducting a research
study to estimate the sales potential of
your product in domestic market (U.S. or
Canadian) market. Discuss key issues
and concern arising from the fact that
you, the manager, are also the
researcher.
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End
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Top Tier
Every decision guided by business
research
Firms develop proprietary
methodologies and are innovative in
their combination of methodologies.
Enterprisewide access to research
data and findings.

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Middle Tier
Some decisions based on business
research
Firms use tried-and-true
methodologies excluding others that
might be appropriate
Limited enterprisewide data and
findings.

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Base Tier
Most decisions based on past
experience or instinct.
Decisions supported with secondary
data searches.

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