chap 001 new
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McGraw-Hill/IrwinBusiness Research Methods, 10e
Copyright © 2008 by The McGraw-Hill Companies, Inc. All Rights Reserved.
Chapter 1Chapter 1
Research Research
in Businessin Business
1-3
•A process of determining, acquiring,analyzing, synthesizing, and disseminatingrelevant business data, information, andinsights to decision makers in ways thatmobilize the organization to take appropriate business actions that, in turn, maximize business performance
Business Research Defined
1-4
Research Should Reduce Risk
The primary purpose of
research is to reduce the
level of risk of a marketing
decision
1-5
What’s Changing in Business that Influences Research
Critical Scrutiny of Business
Computing Power & Speed
Computing Power & Speed
Battle for Analytical
Talent
Battle for Analytical
Talent
FactorsFactors
Information Overload
Shifting Global
Economics
Shifting Global
Economics
Government Intervention
Government Intervention
Technological Connectivity
Technological Connectivity
New Research
Perspectives
New Research
Perspectives
1-6
Computing Power and Speed
Real-time Access
Real-time Access
FactorsFactors
Lower-cost Data
Collection
Powerful Computation
Powerful Computation
Better Visualization
Tools
Better Visualization
Tools
Integration of Data
Integration of Data
1-7
Business Planning Drives Business Research
Organizational Mission
BusinessStrategies
BusinessTactics
Business Goals
1-8
Information Sources
Business Intelligence Systems• Ongoing information collection• Focused on events, trends in micro and macro-
environments
1-9
Sources of Business Intelligence
Business Intelligence
Government/Regulatory
Economic
Competitive
Demographic
Technological Cultural/Social
1-10
Hierarchy of Business Decision Makers
Visionaries
Intuitive Decision Makers
Standardized Decision Makers
Visionaries
1-12
Research May Not Be Necessary
Can It Pass These Tests?• Can information be applied to a critical
decision?• Will the information improve managerial
decision making?• Are sufficient resources available?
1-13
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