ME407_-_1a.Introduction__Research_and_Scientific_Methods

ME407_-_1a.Introduction__Research_and_Scientific_Methods -...

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1a Introduction * Research and Scientific Methods What is research? Research – the production of new knowledge by using scientific methods Science – from the Latin word scientia, which means knowledge Research cannot be characterized by its content , but by which methods that are being used to produce the knowledge. Scientific methods : A system of explicit rules and procedures, which the research is based on. These rules and procedures (“rules of the game”) provide opportunity to communicate, to criticize, and to make scientific progress. Different types of research A. Basic (pure) research - Research that is intended to expand the boundaries of knowledge itself or to verify (or refute) a given theory. This type of research has no (short-term) goal or applications. Academic research at universities Ex 1: Transaction Cost Theory Research question: Will a high level of asset specificity increase the vertical co- ordination in a buyer – seller relationship?
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Ex 2: Organization Theory Research question: Does the effectiveness of frequency of evaluations of the employees vary between types of jobs? B. Applied research - Research undertaken to answer questions about specific problems or to make decisions about a particular course of action or policy decision. Business (Management) research : The systematic and objective process of gathering, recording, and analyzing data for aid in management decisions. - Typically, business research is applied research. - Business research covers all aspects of a business: finance, marketing, personal etc. Ex 1. Problem: Should the firm increase the price of product X with 5% or 10%? Ex 2. Problem: Under which circumstances will a focus strategy be more efficient than a differentiated strategy? The role of decision-maker and researcher
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ME407_-_1a.Introduction__Research_and_Scientific_Methods -...

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