Fundamentals of Research Methods Chap 1

© 2006 The McGraw-Hill Companies, Inc., All Rights Reserved.

McGraw-Hill/Irwin

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Chapter 1Chapter 1

Research Research

in Businessin Business

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Understand . . .•what business research is and how it differs frombusiness decision support systems and business intelligence systems•trends affecting business research and theemerging hierarchy of business decision makers•the distinction between good business researchand research that falls short of professional quality•the value of learning business research process skills

Learning Objectives

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Why Study Business Research?

Business research provides information to guide business decisions

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A Systematic Inquiry whose Objective is

to provide information to managerial

problems

Business Research Defined

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Studying Business Research

Complex Decisions

Stakeholder Influence

Stakeholder Influence

CompetitionCompetition

FactorsFactors

Growth of Internet

Business as a discipline

Business as a discipline

Government Intervention

Government Intervention

Greater Computing

Power

Greater Computing

Power

New Research

Perspectives

New Research

Perspectives

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Computer Advances

Data warehousing• Storing vast amounts

of data in electronic storehouses

Data mining• Applying

mathematical models to extract meaningful knowledge from data in internal databases

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Information Sources

Decision Support Systems

• Numerous elements of data organized for retrieval and use in business decision making

• Stored and retrieved via– Intranets– Extranets

Business Intelligence Systems

• Ongoing information collection

• Focused on events, trends in micro and macro-environments

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Types of Research study

Reporting

Explanatory Predictive

Descriptive

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Research May Be Unnecessary

• Can information be applied to a critical decision?

• Does it improve managerial decision-making?

• Are sufficient resources available?

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Exhibit 1-8 Characteristics of Good Research

Clearly defined purposeClearly defined purpose

Detailed research processDetailed research process

Thoroughly planned designThoroughly planned design

High ethical standardsHigh ethical standards

Limitations addressedLimitations addressed

Adequate analysisAdequate analysis

Unambiguous presentationUnambiguous presentation

Conclusions justifiedConclusions justified

CredentialsCredentials

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Exhibit 1-4 Who Conducts Business Research?

Internal External

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Eastman Kodak has a world-class research department

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Exhibit 1-4Business Research Suppliers

External Research Suppliers

Business Research Firms

Communication Agencies

Consultants

Trade Associations

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Some Syndicated Data Providers

• AC Nielsen• Scarborough• Millward Brown• Nielsen Media Research• Roper ASW• CSA TMO• Yahoo!• ORC International

• DoubleClick• Nielsen/NetRatings• Taylor Nelson Sofres

Intersearch• J.D. Power Associates• MediaMark• Simmon (SMRB)• BRMB• Information Resources Inc.

Manager Researcher Conflicts

• Knowledge Gap

• Job Status

• Research Isolation

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