Exam (elaborations)
Business Research Methods Final.Business Research Methods Final.
- Module
- Master ASL! Unit 6
- Institution
- Master ASL! Unit 6
Business Research Methods Final.
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Business Research Methods Midtermbusiness research is a field of practical study in which a company - correct
answer-obtains data and analyzes it in order to better manage the company,
can include financial data, consumer feedback, product research and
competitive analysis
executives and managers who use business research methods are able to -
correct answer-better understand their company, the position it holds, and how
to improve that position
business research roadmap - correct answer-understanding business
research
problem definition
research techniques
understanding of research construct
designing the data collection instrument
determining the sample
collecting the data
analyzing the data
sharing the results
for managers purpose of research is to - correct answer-provide knowledge
regarding the organization, the market economy ect.
for financial managers might be to answer - correct answer-will the
environment for long term financing be better two years from now
for a personnel manager might be to answer - correct answer-what kind of
training is necessary for production employee
business research is the - correct answer-application of the scientific method
in searching for the truth about business phenomena
the process includes - correct answer-idea and theory development, problem
definition, searching for and collecting information, analyzing data,
communicating the findings and their implications
,business research information is not - correct answer-intuitive or haphazardly
gathered, accurate and objective, relevant to all aspects of the business,
limited by one's definition of business
applied business research - correct answer-conducted to address a specific
business decision for a specific firm or organization
basic business research also called pure research conducted - correct
answer-without a specific decision in mind that 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,
same in social or physical science or in engineering. analysis and
interpretation of empirical evidence(facts from experimentation) to confirm or
disprove prior conceptions
business orientations - correct answer-Product-oriented
Production-oriented
Marketing-oriented
product oriented firm - correct answer-a firm that prioritizes decision making in
a way that emphasizes technical superiority in the product
production oriented firm - correct answer-a firm that prioritizes efficiency and
effectiveness of the production processes in making decisions, focuses on line
employees, engineers, accountants, other efficiency experts
marketing oriented firm - correct answer-Focuses on how the firm provides
value to customers
decision making process associated with the development and
implementation of a business strategy involves four interrelated stages -
correct answer-identifying problems and opportunities, diagnosing and
assessing opportunities, selecting and implementing a course of action,
evaluating the course of action
performance monitoring research - correct answer-research that regularly,
sometimes routinely, provides feedback for evaluation and control of business
activity
, performance evaluation research - correct answer-the formal, objective
measurement and appraisal of the extent a given activity, project, or program
has achieved its objectives
the determination of the need for research centers on - correct answer-time
constraints, availability of data, nature of decision to be made, benefits vs
costs
nature of the deicison - correct answer-the more strategically important the
decision, the more likely its that research will be conducted
data - correct answer-facts or recorded measures of certain things or events
information - correct answer-data formatted to support decision making or
define the relationship between two facts
market intelligence - correct answer-subset of data and information that
actually has some descriptive power enabling effective decisions to be made
useful data must be - correct answer-relevant, quality, timeliness and
information completness
knowledge - correct answer-a blend of previous experience, insight, and data
that forms organizational memory
knowledge management - correct answer-process of creating an inclusive,
comprehensive, easily accessible organizational memory, which is often called
the organizations intellectual capital
databases -> knowledge - correct answer-data cleaning, data integration, data
warehouse, selection, task relevant data, data mining, pattern evaluation
Decision Support System (DSS) - correct answer-helps decision makers
confront problems through direct interaction with computerized data bases
and analytical software programs, purpose is to store data and transform them
into organized information that is easily accessible to managers
database - correct answer-a collection of raw data arranged logically and
organized in a form that can be stored and processed by a computer
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