Podcast
Questions and Answers
What is the first stage in the decision-making process for developing a business strategy?
What is the first stage in the decision-making process for developing a business strategy?
Which of the following factors is NOT critical when determining the need for business research?
Which of the following factors is NOT critical when determining the need for business research?
Which question is relevant when assessing the costs versus benefits of research?
Which question is relevant when assessing the costs versus benefits of research?
In global business research, what is the process of cross-validation meant to accomplish?
In global business research, what is the process of cross-validation meant to accomplish?
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Which of the following stages comes after diagnosing and assessing problems or opportunities?
Which of the following stages comes after diagnosing and assessing problems or opportunities?
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Which type of business research focuses on understanding the current situation without making predictions?
Which type of business research focuses on understanding the current situation without making predictions?
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What is the primary role of business research in decision making?
What is the primary role of business research in decision making?
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What is a significant consideration when evaluating the expenditure for business research?
What is a significant consideration when evaluating the expenditure for business research?
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Which of the following is a phase of the business research process?
Which of the following is a phase of the business research process?
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During the implementation of a business strategy, which of the following is most important?
During the implementation of a business strategy, which of the following is most important?
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Which of the following is an essential skill for conducting effective global business research?
Which of the following is an essential skill for conducting effective global business research?
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How do researchers help in identifying new strategic directions for a firm?
How do researchers help in identifying new strategic directions for a firm?
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Which type of research primarily tests the relationship between variables?
Which type of research primarily tests the relationship between variables?
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What distinguishes a research project from a research program?
What distinguishes a research project from a research program?
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What is exploratory research primarily used for?
What is exploratory research primarily used for?
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In business research, identifying how consumers perceive a firm is part of which action?
In business research, identifying how consumers perceive a firm is part of which action?
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What is one of the primary objectives of the BHMS4418 course?
What is one of the primary objectives of the BHMS4418 course?
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Which learning outcome focuses on understanding the concept of business research?
Which learning outcome focuses on understanding the concept of business research?
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What distinguishes applied business research from basic research?
What distinguishes applied business research from basic research?
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How does the BHMS4418 course intent to develop students' skills?
How does the BHMS4418 course intent to develop students' skills?
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What aspect of research is emphasized in the BHMS4418 course's objectives?
What aspect of research is emphasized in the BHMS4418 course's objectives?
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In what manner are students expected to communicate their findings in the BHMS4418 course?
In what manner are students expected to communicate their findings in the BHMS4418 course?
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What can be inferred about the assessment methods used in the BHMS4418 course?
What can be inferred about the assessment methods used in the BHMS4418 course?
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Which of the following best describes the overall goal of the BHMS4418 course?
Which of the following best describes the overall goal of the BHMS4418 course?
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What is meant by forward linkage in the research process?
What is meant by forward linkage in the research process?
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What role do research objectives play in the research process?
What role do research objectives play in the research process?
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What is a literature review in exploratory research techniques?
What is a literature review in exploratory research techniques?
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What is the purpose of conducting a pilot study?
What is the purpose of conducting a pilot study?
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Which of the following describes a focus group in exploratory research?
Which of the following describes a focus group in exploratory research?
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What is regarded as deliverables in the context of research objectives?
What is regarded as deliverables in the context of research objectives?
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Which technique is primarily used to aid in the design of a subsequent study?
Which technique is primarily used to aid in the design of a subsequent study?
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Backward linkage in the research process refers to which of the following?
Backward linkage in the research process refers to which of the following?
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What is the primary purpose of research design?
What is the primary purpose of research design?
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Which of the following is NOT considered a basic design technique for research?
Which of the following is NOT considered a basic design technique for research?
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Which sampling method involves gathering data without disturbing respondents?
Which sampling method involves gathering data without disturbing respondents?
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What is the role of editing in research data processing?
What is the role of editing in research data processing?
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What is a key characteristic of surveys as a research method?
What is a key characteristic of surveys as a research method?
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What does the sampling decision process include?
What does the sampling decision process include?
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Which of these is NOT a method of gathering survey data?
Which of these is NOT a method of gathering survey data?
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What do codes refer to in the context of processing and analyzing data?
What do codes refer to in the context of processing and analyzing data?
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Study Notes
Introduction to Business Research
- The course aims to prepare students for the final year project
- Learning includes developing fundamental business research knowledge
- Focus on fostering interpersonal, communicative, analytical and literacy skills
- Enables students to understand the key concepts and techniques for conducting a business research project
Learning Outcomes
- Understand how research contributes to business success
- Know how to define business research
- Understand the difference between basic and applied business research
- Understand the scientific Method
The Managerial Value of Business Research
- The decision-making process involves four stages
- Identifying problems and opportunities
- Diagnosing and assessing problems or opportunities
- Selecting and implementing a course of action
- Evaluating the course of action
When is Business Research Needed?
- The need for research centres upon
- Time constraints
- Data availability
- The nature of the decision to be made
- Benefits vs. costs
Business Research in the 21st Century
- Business research is increasingly global
- Understanding the nature of specific markets is essential
- Cross-validation is important to ensure findings from one culture work similarly in another
The Business Research Process: An Overview
- Researchers contribute to decision making in key ways
- Helping to better define the current situation
- Defining the firm, determining how consumers, competitors, and employees view the firm
- Providing ideas for enhancing current business practices
- Identifying new strategic directions
- Testing ideas that will assist in implementing business strategies for the firm
- Examining how correct a certain business theory is in a given situation
Types of Business Research
- Types of business research:
- Exploratory
- Descriptive
- Causal
The Research Process
- The research process consists of 11 steps, subdivided into eight stages:
- Defining the research problem
- Formulating the research objectives
- Developing the Research Design
- Selecting the Research Method
- Sampling
- Gathering Data
- Processing and Analyzing Data
- Preparing the Report
Stages of the Research Process
- Stages of the research process include:
- Defining the problem
- Formulating the objectives
- Developing the research design
- Selecting the research method
- Sampling
- Gathering data
- Processing and analyzing data
- Preparing the report
Defining the Research Objectives
- Research objectives are the goals to be achieved by conducting research.
- Deliverables refers to research objectives in consulting
Exploratory Research Techniques
- Exploratory Research techniques include:
- Previous Research
- Literature review: Directed search of published works that discuss theory and present empirical results relevant to the research topic
- Pilot studies
- A small-scale research project with similar respondents to the full study
- Pretest: Small-scale study with preliminary findings intended only to assist in designing a subsequent study
- Focus Group
- A small group discussion led by a moderator who guides discussion among participants
- Previous Research
Planning the Research Design
- Research Design is a master plan that specifies the methods and procedures for collecting and analyzing needed information
- Basic design techniques for descriptive and causal research include:
- Surveys
- Experiments
- Secondary data
- Observation
Selection of the Basic Research Method
- A survey is a research technique in which a sample is interviewed or observed
- Survey types:
- Telephone
- Internet
- In-person
Sampling
- Sampling involves drawing conclusions from measurements of a portion of the population
- Sampling decisions include:
- Who to sample (target population)
- Sample size
- How to select the sampling units
Gathering Data
- Unobtrusive methods gather data without disturbing respondents
Processing and Analyzing Data
- Editing involves checking data collection forms for omissions, legibility, and consistency
- Codes are rules for interpreting, categorizing, recording, and transferring data to storage media.
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Description
This quiz covers the fundamentals of business research, equipping students with essential skills for their final year projects. It explores key concepts, techniques, and the scientific method while emphasizing the importance of research in decision-making and business success.
