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Summary chapter 1-13 Research Methods for Business: A Skill-Building Approach, 6th Edition
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Master marketing
Business Research Techniques
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Summary
Research
Methods
for
Business
(exam)
CHAPTER
1
–
INTRODUCTION
TO
RESEARCH
(lecture
1)
Research
is
simply
the
process
of
finding
solutions
to
a
problem
after
a
thorough
study
and
analysis
of
the
situational
factors.
Business
research
is
a
systematic
and
organized
effort
to
investigate
a
specific
problem
encountered
in
the
work
setting,
which
needs
a
solution.
It
can
be
described
as
an
organized,
systematic,
data
based,
critical,
objective,
inquiry
or
investigation
into
a
specific
problem,
undertaken
with
the
purpose
of
finding
answers
or
solutions
to
it.
§ It
comprises
a
series
of
steps
that
are
designed
and
executed
with
the
goal
of
finding
answers
to
the
issues
that
are
of
concern
to
the
manager
in
the
work
environment.
o The
first
step
in
research
is
to
know
where
the
problem
areas
exist
in
the
organization,
and
to
identify
as
clearly
and
specifically
as
possible
the
problems
that
need
to
be
studied
and
resolved.
o Once
a
problem
is
clearly
defined,
steps
can
be
taken
to
determine
the
factors
that
are
associated
with
the
problem,
gather
information,
and
analyze
the
data
and
then
solve
it
by
taking
the
necessary
corrective
measures.
§ Research
provides
the
necessary
information
that
guides
managers
to
make
informed
decisions
to
successfully
deal
with
problems.
Research
and
the
manager:
In
accounting,
budget
control
systems,
practices,
and
procedures
are
frequently
examined.
In
finance,
the
operations
of
financial
institutions,
optimum
financial
ratios,
mergers
and
acquisitions,
leveraged
buyouts,
incorporate
financing,
yields
on
mortgages,
behavior
of
stock
exchange,
etc.
become
the
focus
of
investigation.
Management
research
could
encompass
the
study
of
employee
attitudes
and
behaviors,
HRM,
the
impact
of
changing
demographics
on
management
practices,
productions
operations
management,
strategy
formulation,
information
systems,
and
the
like.
Marketing
research
could
address
issues
pertaining
to
consumer
decision
making,
customer
satisfaction
and
loyalty,
market
segmentation,
creating
competitive
advantage,
product
image,
elements
of
marketing
mix,
and
other
marketing
aspects.
Applied
research
is
research
which
aims
to
solve
a
current
problem
faced
by
the
manager
in
the
work
setting,
demanding
a
timely
solution.
§ Specifically
aimed
at
solving
a
currently
experienced
problem
within
a
specific
organization.
Basic,
fundamental,
or
pure
research
is
research
to
generate
a
body
of
knowledge
by
trying
to
comprehend
how
certain
problems
that
occur
in
organizations
can
be
solved.
§ Broader
objective
of
generating
knowledge
and
understanding
of
phenomena
and
problems
that
occur
in
various
organizational
settings.
Basic,
fundamental,
or
pure
research
Who?
Most
research
and
development
departments,
professors
in
colleges
and
universities.
Objective
To
equip
oneself
with
additional
knowledge
of
certain
phenomena
and
problems
that
occur
in
several
organizations
and
industries
with
a
view
to
finding
solutions.
Primary
purpose
Generate
more
knowledge
and
understanding
of
the
phenomena
of
interest
and
to
build
theories
based
on
the
research
results
(generate
theories).
1
, Lieke
Neijens
Managers
and
research:
As
a
manager,
you
will
have
to
understand,
predict
and
control
events
that
are
dysfunctional
within
the
organization.
Being
knowledgeable
about
research
and
research
methods
helps
managers
to:
1. Identify
and
effectively
solve
minor
problems
in
the
work
setting.
2. Know
how
to
discriminate
good
from
bad
research.
3. Appreciate
and
be
constantly
aware
of
the
multiple
influences
and
multiple
effects
of
factors
impinging
on
a
situation.
4. Take
calculated
risks
in
decision-‐making,
knowing
full
well
the
probabilities
associated
with
the
different
possible
outcomes.
5. Prevent
possible
vested
interests
from
exercising
their
influence
in
a
situation.
6. Relate
to
hired
researchers
and
consultants
more
effectively.
The
manager-‐researcher
relationship
While
hiring
researchers
or
consultants
the
manager
should
make
sure
that:
§ The
roles
and
expectations
of
both
parties
are
made
explicit.
§ Relevant
philosophies
and
value
systems
of
the
organization
are
clearly
stated
and
constraints,
if
any,
are
communicated.
§ A
good
rapport
is
established
with
the
researchers,
and
between
the
researchers
and
the
employees
in
the
organization,
enabling
the
full
cooperation
of
the
latter.
Advantages
and
disadvantages
of
internal
consultants/researchers
Advantages
Disadvantages
The
internal
team
stands
a
better
chance
of
being
The
internal
team
may
fall
into
a
stereotyped
readily
accepted
by
the
employees
in
the
subunit
way
of
looking
at
the
organization
and
its
of
the
organization
where
research
needs
to
be
problems.
done.
The
team
requires
much
less
time
to
understand
There
is
scope
for
certain
powerful
coalitions
in
the
structure,
the
philosophy,
climate,
functioning
the
organization
to
influence
the
internal
team
and
work
systems
of
the
organization.
to
conceal,
distort,
or
misrepresent
certain
facts.
They
are
available
to
implement
their
There
is
a
possibility
that
even
the
most
highly
recommendations
after
the
research
findings
have
qualified
internal
research
teams
are
not
been
accepted.
This
is
very
important
because
perceived
as
“experts”
by
staff
and
management,
any
bugs
in
the
implementation
of
the
hence
their
recommendations
may
not
get
the
recommendations
may
be
removed
with
their
consideration
and
attention
they
deserve.
help.
The
internal
team
might
cost
considerably
less
Certain
organizational
biases
of
the
internal
than
an
external
team
for
the
department
research
team
might,
in
some
instances,
make
enlisting
help
in
problem
solving,
because
they
the
findings
less
objective
and
consequently
will
need
less
time
to
understand
the
system.
less
scientific.
Advantages
and
disadvantages
of
external
consultants/researchers
Advantages
Disadvantages
The
external
team
can
draw
on
a
wealth
of
The
cost
of
hiring
an
external
research
team
is
experience
from
having
worked
with
different
usually
high
and
is
the
main
deterrent,
unless
types
of
organizations
that
have
had
the
same
or
the
problems
are
critical.
similar
types
of
problems.
Having
viewed
the
situation
from
several
possible
angles
and
perspectives
(divergently),
they
can
critically
assess
each
of
these,
discard
the
less
viable
options
and
alternatives,
and
focus
on
specific
feasible
solutions
(think
convergently).
2
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