Describing decision making situations types of

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Describing Decision Making Situations: Types of Business Research: Exploratory research: is conducted to clarify ambiguous situations or discover potential business opportunities. Usually exploratory research is a first step, conducted with the Downloaded by:: bryce0736 | [email protected] Distribution of this document is illegal
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Stuvia.com - The study-notes marketplace expectation that additional research will be needed to provide more conclusive evidence. Exploratory research is often used to guide and refine these subsequent research efforts. Descriptive research: is to describe characteristics of objects, people, groups, organizations, or environments. In other words, descriptive research tries to “paint a picture” of a given situation by addressing who, what, when, where, and how questions. Unlike exploratory research, descriptive studies are conducted after the researcher has gained a firm grasp of the situation being studied. Descriptive research often helps describe market segments. o A diagnostic analysis seeks to diagnose reasons for business outcomes and focuses specifically on the beliefs and feelings respondents have about and toward specific issues. Causal research: seeks to identify cause-and-effect relationships. When something causes an effect, it means it brings it about or makes it happen. The effect is the outcome. Causal research designs can take a long time to implement. Also, they often involve intricate designs that can be very expensive. In summary, causal research should do all of the following: 1. Establish the appropriate causal order or sequence of events 2. Measure the concomitant variation between the presumed cause and the presumed effect 3. Examine the possibility of spuriousness by considering the presence of alternative plausible causal factors o Causal Inference: A conclusion that when one thing happens, another specific thing will follow. Temporal sequence: One of three criteria for causal- ity; deals with the time order of events—the cause must occur before the effect. Concomitant variation: One of three criteria for causality; occurs when two events “covary,” meaning they vary systematically. Nonspurious association: One of three criteria for causality; means any covariation between a cause and an effect is true and not simply due to some other variable. o Degrees of Causality: Absolute causality: Means the cause is necessary and sufficient to bring about the effect. Downloaded by:: bryce0736 | [email protected] Distribution of this document is illegal
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Stuvia.com - The study-notes marketplace Conditional causality: Means that a cause is necessary but not sufficient to bring about an effect. Contributory causality: Means that a cause need be neither necessary nor sufficient to bring about an effect.
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