1 1 Part One INTRODUCTION TO BUSINESS RESEARCH

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Part One INTRODUCTION TO BUSINESS RESEARCH 1 -2 Mc. Graw-Hill/Irwin © 2003 The Mc. Graw-Hill Companies, Inc. , All Rights Reserved.

Chapter One RESEARCH IN BUSINESS 1 -3

What is Business Research? • A systematic Inquiry whose objective is to provide information to solve managerial problems. 1 -4

Why Study Research? • Research provides you with the knowledge and skills needed for the fast -paced decision-making environment 1 -5

Why Managers need Better Information • Global and domestic competition is more dynamic • Organizations are increasingly practicing data mining and data warehousing 1 -6

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 1 -7

Types of Studies Used to do Research • • 1 -8 Reporting Descriptive Explanatory Predictive

Different Styles of Research • Applied Research • Pure Research/Basic Research 1 -9

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 1 -10

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 1 -11

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 1 -12

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 1 -13

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 1 -14