1-1

Part One
INTRODUCTION TO BUSINESS RESEARCH

1-2
McGraw-Hill/Irwin 2003 The McGraw-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 vigorous 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

Reporting Descriptive Explanatory Predictive

1-8

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 decisionmakers needs Findings presented unambiguously Conclusions justified Researchers experience reflected

1-11

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

1-12

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

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