Podcast
Questions and Answers
What is the primary purpose of business research?
What is the primary purpose of business research?
- To make decisions based solely on historical data
- To mobilize the organization to take business actions that maximize performance (correct)
- To gather as much data as possible without analysis
- To conduct research that does not require input from decision makers
Which of the following represents a factor that drives business research?
Which of the following represents a factor that drives business research?
- Consumer satisfaction surveys
- Business strategies (correct)
- Market fluctuations
- Employee feedback mechanisms
Which question is NOT a test to determine the applicability of business research information?
Which question is NOT a test to determine the applicability of business research information?
- Are sufficient resources available?
- Is the information financially viable? (correct)
- Can information be applied to a critical decision?
- Will the information improve managerial decision making?
Which type of study aims to explain the relationship between variables?
Which type of study aims to explain the relationship between variables?
What aspect of managerial decision making does effective business research directly aim to improve?
What aspect of managerial decision making does effective business research directly aim to improve?
Flashcards
Business Research
Business Research
The process of gathering, analyzing, and applying business data to guide decisions and improve performance.
Business Planning Drives Research
Business Planning Drives Research
Business research is guided by the organization's mission, goals, strategies, and tactics.
Reporting Research
Reporting Research
A type of research that focuses on providing a clear and concise summary of facts or data.
Descriptive Research
Descriptive Research
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Explanatory Research
Explanatory Research
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Study Notes
Business Research Overview
- Business research is a process that involves gathering, analyzing, and disseminating business data and information to decision-makers.
- The aim of business research is to support strategic decision-making and improve business performance.
Driving Forces of Business Research
- Business research is driven by business planning, which includes:
- Organizational mission
- Business goals
- Business strategies
- Business tactics
Evaluating Research Effectiveness
- Research effectiveness is judged through these criteria:
- Can the information be applied to a critical decision?
- Does the information improve managerial decision-making?
- Are sufficient resources available for the research?
Types of Business Studies
- Reporting: Summarizes facts and figures.
- Descriptive: Describes characteristics of a subject or group.
- Explanatory: Explains the "why" behind certain phenomena.
- Predictive: Forecasts future events or trends.
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Description
This quiz covers the fundamentals of business research, including its objectives, driving forces, and methods of evaluation. Dive into the various types of business studies such as reporting, descriptive, explanatory, and predictive. Enhance your understanding of how effective research can support strategic decision-making.
