5226_Week2_Lecture

5226_Week2_Lecture - Week 2 Research Methods Continued...

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Week 2 – Research Methods Continued Updated: September 13, 2005 – Professor Don Forrer Week 2 – This week we will concentrate on what we plan to research and why? During this course, we will study leader-member exchange theory (LMX). This research is designed to determine how leaders and followers interact and get along in the organization that you will be studying. To test this we will use a series of surveys that includes surveys that test leader-member exchange, organizational commitment, job satisfaction, intent to quit, and ethics. Why conduct Research Research is very important to any business and small businesses such as those in Collier County are much more dependent upon research than you think. Whether you realize it or not, you probably conduct research everyday at your business. If you are determining the best price for a necessary part, you are conducting research. The question is how your business utilizes the research that you gather. In the formal academic world, research is conducted to better the field of study. In business, research helps you strategically allocate resources in order to make your company successful. The goal is to beat the competition. Anytime research is conducted by business owners to improve the product, define strategy, determine pricing, or adjust advertising, then that research is beneficial to your business and justified. Another reason businesses conduct research is to determine what is happening in the environment surrounding the company. One example is a project our School of Business is planning in the near future. On August 12 th at the Cape Coral Yacht Club, several graduate level classes from International College will hold a panel discussion with community leaders about the ongoing Manatee issue in Southwest Florida. The purpose of this is to enforce the fact that there are other stakeholders with a vested interest in your industry. In this case, environmentalist, public administrators, and business leaders will come together to highlight the differences in viewpoints for this dynamic issue. The event starts at 6PM and is open to the public. It will definitely demonstrate the need to research the business environment. One thing is for certain, if you are a dock builder in southwest Florida and ignored this issue until it was announced in the paper that dock permits were being held, then there is a good chance your business suffered immediately. If you conducted research and knew the facts and timelines of the case, you may have been able to diversify enough to maintain your business until the issue is resolved. The first thing you should do, no matter what the issue, is identify the problem. This is true no matter what size problem you are dealing with. In business, there are constantly ongoing issues that could be identified and isolated. An example may be the permitting process for an issue such as the Manatee problem. By identifying the problem, you begin the process of evaluating the process in order to decide how your business will
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accomplish this task. You may want to meet with your managers and identify each
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5226_Week2_Lecture - Week 2 Research Methods Continued...

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