1. McGraw-Hill/Irwin 2003 The McGraw-Hill Companies, Inc.,All Rights Reserved. MODULE 1 INTRODUCTION TOBUSINESS RESEARCH

2. What is Business Research?

A systematic and scientific Inquiry whose objective is to provide information to solve managerial problems.

3. Why Study Research?

Research provides you with the knowledge and skills needed for the fast-paced decision-making environment

4. Why Managers need Better Information

Global and domestic competition is more vigorous

Organizations are increasingly practicingdata mining anddata warehousing

5. 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

6. Types of Studies Used to do Research

Reporting

Descriptive

Explanatory

Predictive

7. Different Styles of Research

Descriptive Vs Analytical

Applied Vs Fundamental

Quantitative Vs Qualitative

Conceptual Vs Empirical

Orther types:

• One-time and longitudinal

• Field-setting and laboratory or simulation

• Clinical and diagnostic

• Historical

• Conclusion oriented and decision oriented

8. 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

9. What is Good Research?(cont.)

Following the standards of the scientific method(cont.)

• Adequate analysis for decision-makers needs

• Findings presented unambiguously

• Conclusions justified

• Researchers experience reflected

10. The Manager-Researcher Relationship

Managers obligations

• Specify problems

• Provide adequate background information

• Access to company information gatekeepers

Researchers obligations

• Develop a creative research design

• Provide answers to important business questions

11. Manager-Researcher Conflicts

Managements limited exposure to research

Manager sees researcher as threat to personal status

Researcher has to consider corporate culture and political situations

Researchers isolation from managers

12. 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