Ch1BriefOutline - Chapter 1 The Role of Business Research...

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Zikmund Lecture Content Definition of Business Research – all research techniques applicable to business Basic Research and Applied Research – important to clarify the difference Value of Business Research – what decision makers do with business research When Business Research is Needed – when is makes sense to do research Topics for Business Research – potential research areas virtually unlimited Research in the 21 st Century – impact of global competition and information technology Definition and Scope of Business Research Dictionary Definition of Research – Careful, systematic, patient study and investigation in some field of knowledge, undertaken to discover or disclose facts or principles. Definition of Business Research for the Course – Business research is systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions. The key words are: Systematic – carried out according to rigorous scientific procedures Objective – detached from preconceived ideas or biases Aid – not a substitute for judgment Scope of Business Research – based on how you define business – in this course and in the text, business encompasses organizations of every type—private and public corporations that operate for profit, and non profit organizations—such as charities, the performing arts, educational institutions and governmental agencies. Basic Research and Applied Research - Terminology Basic Research - carried out to expand the boundaries of knowledge or to verify theory – has no necessary immediate practical application – also called “pure” research E.g., a study to determine the relationship between early methods of parenting and a child’s acquired behavior patterns. Applied Research – conducted to answer questions about specific practical problems or to make decisions about a particular course of action or policy E.g., a study undertaken by an employer to validate a personality test designed to select successful sales applicants Scientific Method – a set of techniques or procedures used to analyze empirical evidence gathered to test—that is, confirm or disconfirm—prior conceptions E.g., drawing a sample of consumers to estimate the proportion of a target population that are aware of a particular brand of house paint. Ch1BriefOutline.doc
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Ch1BriefOutline - Chapter 1 The Role of Business Research...

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