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MGT 2700 - Business Research Methods - Ch 1, 3, 4, 5, 6, 25
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MGT 2700 - Business Research Methods - Ch 1, 3, 4, 5, 6, 25
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MGT 2700 - Business Research Methods- Ch 1, 3, 4, 5, 6, 25
Define Business Research - correct answer-Business research is the
application of the scientific method in searching for the truth about business
phenomena. JP - what is the truth?
What does the Business Research Process include? - correct answer-1. idea
and theory development
2. problem definition
3. searching for and collecting information
4. analyzing data
communicating the findings and their implications
Define Applied Business Research - correct answer-addresses specific
decisions for specific business. for example: ESPN conducting research about
their business
Define Basis Business Research - correct answer-without specific decision for
a specific business. for example: how to motivate employees
3 ways Applied Business Research can be published - correct answer-1.
Thesis
2. Dissertation
3. Journal Article
Define Scientific Method - correct answer-a way for researchers to use their
knowledge to obtain a solution.
A set of prescribed procedures for establishing and connecting theoretical
statements about events, for analyzing empirical evidence, and for predicting
events yet unknown.
Techniques or procedures used to analyze empirical evidence in an attempt to
confirm or disprove prior conceptions.
Define Product-Oriented - correct answer-Describes a firm that prioritizes
decision making in a way that emphasizes technical superiority in the product.
, Define production-oriented - correct answer-prioritizing efficiency and
effectiveness of production processes in making decisions. So they will the
engineers and workers for input on this.
Define marketing-oriented - correct answer-The intent is on the effect on the
customer. For example, pens. packaging? color? style?
The decision-making process associated with the development and
implementation of a business strategy involves four interrelated stages: -
correct answer-1. Identifying problems and opportunities
2. Diagnosing and assessing problems or opportunities
3. Selecting and implementing a course of action
4. Evaluating the course of action
Define Evaluation Research - correct answer-formal, objective measurement
and appraisal of the extent a given activity, project, or program has achieved
its objectives or whether continuing programs are presently performing as
projected. How did the research do? Was there an answer?
Performance-Monitoring research - correct answer-Refers to research that
regularly, sometimes routinely, provides feedback for evaluation and control of
business activity. for example: groceries, UPC, sales declining on certain
products.
When is Business Research Needed? - correct answer-The determination of
the need for research centers on:
1. Time constraints
2. The availability of data
3. The nature of the decision to be made
4. Benefits versus costs (the value of the research information in relation to
costs)
Will the payoff or rate of return be worth the investment?
Will the information improve the quality of the managerial decision enough to
warrant the expenditure?
Is the expenditure the best use of the available funds?
Communication Technologies - correct answer-Always "connected"—time,
place, and distance are irrelevant.
Decreases in information acquisition, storage, access, and transmission costs.
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