01 BRM PowerPoint .pdf - Research Methods for Business...

Research Methods
for
Business

Business research is defined as
the systematic and objective
process of generating
information for aid in making
business decisions.
Business Research Defined

Business Research
• Research information is neither
intuitive nor haphazardly gathered.
• Literally, research (re-search) -
“search again”
• Business research must be objective
• Detached and impersonal rather
than biased
• It facilitates the managerial decision
process for all aspects of a business.

I don’t
know
if we
should
offer on-
site
child
care?

Artemus Ward

Basic research
Applied research
Business Research Types

Basic Research
• Attempts to expand the limits of
knowledge.
• Not directly involved in the solution
to a pragmatic problem.

Basic Research Example
• Is executive success correlated with
high need for achievement?
• Are members of highly cohesive
work groups more satisfied than
members of less cohesive work
groups?
• Do consumers experience cognitive
dissonance in low-involvement
situations?

Applied Research
• Conducted when a decision must be
made about a specific real-life
problem