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Chapter 1. Research in Business. Learning Objectives. Understand what is business research and how it differs from business decision support systems and business intelligence systems

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chapter 1

Chapter 1

Research

in Business

learning objectives
Learning Objectives
  • Understand what is business research

and how it differs from business decision support

systems and business intelligence systems

  • Trends affecting business research the distinction between good business research and research that falls short of professional quality
  • The value of learning business research process skills
why study business research
Why Study Business Research?

Business research provides information to guide business decisions

business research defined
Business Research Defined
  • 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
studying business research

Competition

Studying Business Research

New Research Perspectives

Growth of Internet

Greater Computing Power

Stakeholder Influence

Business as a discipline

Factors

Complex Decisions

Government Intervention

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

Computer Advances
business planning drives business research
Business Planning Drives Business Research

Organizational

Mission

Business

Goals

Business

Strategies

Business

Tactics

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

Information Sources
exhibit 1 1 sources of business intelligence
Exhibit 1-1 Sources of Business Intelligence

Government/

Regulatory

Competitive

Economic

Demographic

Business

Intelligence

Technological

Cultural/

Social

business tactics and research
Business Tactics and Research

Häagen-Dazs Tactics

  • Super premium
  • Dozens of flavors
  • Small packages
  • Signature colors on packaging
  • Available in franchise and grocery stores
research may be unnecessary
Research May Be Unnecessary
  • Can information be applied to a critical decision?
  • Does it improve managerial decision-making?
  • Are sufficient resources available?
exhibit 1 8 characteristics of good research

Clearly defined purpose

Detailed research process

Thoroughly planned design

High ethical standards

Limitations addressed

Adequate analysis

Unambiguous presentation

Conclusions justified

Credentials

Exhibit 1-8 Characteristics of Good Research
exhibit 1 6 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.

Exhibit 1-6 Some Syndicated Data Providers
specialty business research firms
Specialty Business Research Firms

Methodology

Process

Industry

Participant group

Geographic Region

communication agencies

Sales

Promotion

Advertising

Direct

Business

Public

Relations

Communication Agencies
consultants and trade associations
Consultants

Business

General Business

Trade Associations

General business

Business specialties

Research specialties

Consultants and Trade Associations
see you next week
See You Next Week

Source: Cooper R. D. & Schindler, S. P.

(2006). Business Research Methods

9e. McGraw.Hill