5 Questions
Which of the following best describes the purpose of business research?
To provide valid and reliable answers to research questions
What is a key characteristic of business research?
It is objective and unbiased
Which of the following is NOT a step in the business research process?
Maximizing business performance
What does exploratory research in business aim to do?
Generate information in a laboratory setting
What is the role of business research in the managerial decision process?
To reduce risk in decision-making
Study Notes
Business Research Purpose
- The purpose of business research is to provide valuable insights and information to facilitate informed decision-making in a business or organization.
Key Characteristics of Business Research
- A key characteristic of business research is that it is systematic, meaning it follows a structured process to ensure reliability and accuracy of the results.
Business Research Process
- The business research process involves several steps, excluding "implementation of decisions" as it is not a step in the research process itself, but rather a subsequent action taken after the research is completed.
Exploratory Research in Business
- The primary aim of exploratory research in business is to gain a deeper understanding of a particular issue or problem, often involving a qualitative approach to gather more information.
Role of Business Research in Decision-Making
- The role of business research in the managerial decision process is to provide objective, data-driven insights that inform decision-making, helping managers make more informed, strategic choices.
This quiz tests your knowledge on Chapter 01 of Business Research Methods. It covers the process of business research, including determining, acquiring, analyzing, synthesizing, and disseminating relevant data and information to decision makers. Take the quiz to assess your understanding of systematic and effective business research methods.
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