Exam (elaborations)
Business research methods.
- Module
- Master ASL! Unit 6
- Institution
- Master ASL! Unit 6
Business research methods.
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Business research methodsApplied business research - correct answer-conducted to address a specific
decision for a specific firm or organization
Basic business research - correct answer-conducted without a specific
decision in mind, and it usually does not address the needs of a specific
organization
scientific method - correct answer-the way researchers go about using
knowledge and evidence to reach objective conclusions about the real world.
Hypothesis, test hypothesis, conclusion - correct answer-Stages of scientific
method
product-oriented - correct answer-firm prioritizes decision making in a way that
emphasizes technical superiority in the product.
production-oriented - correct answer-firm prioritizes efficiency and
effectiveness of the production processes in making decisions.
marketing-oriented - correct answer-focuses more on how the firm provides
value to customers than on the physical product or production process
Performance-monitoring research - correct answer-refers to research that
regularly, sometimes routinely, provides feedback for evaluation and control of
business activities.
Time constraints, Availability of data, Nature of the decision, Benefits versus
costs - correct answer-The determination of the need for business research
centers on
data - correct answer-facts or recorded measures of certain phenomena
information - correct answer-data formatted (structured) to support decision
making or define the relationship between two facts
business intelligence - correct answer-the subset of data and information that
actually has some explanatory power enabling effective decisions to be made
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