Fundamentals of Research Methods Chap 1
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Transcript of Fundamentals of Research Methods Chap 1
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© 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.
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Manager Researcher Conflicts
• Knowledge Gap
• Job Status
• Research Isolation
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