Introduction to Business Research
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Introduction to Business Research

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Questions and Answers

What is the first stage in the decision-making process for developing a business strategy?

  • Identifying problems and opportunities (correct)
  • Diagnosing and assessing problems or opportunities
  • Evaluating the course of action
  • Selecting and implementing a course of action

    • Which of the following factors is NOT critical when determining the need for business research?

  • Time constraints
  • The availability of data
  • Benefits versus costs
  • Market trends (correct)

    • Which question is relevant when assessing the costs versus benefits of research?

  • Will the payoff or rate of return be worth the investment? (correct)
  • Will the findings comply with industry regulations?
  • Is the research in alignment with company culture?
  • Will the information improve employee morale?

    • In global business research, what is the process of cross-validation meant to accomplish?

    <p>Ensure findings are universally applicable and reliable</p> Signup and view all the answers

    Which of the following stages comes after diagnosing and assessing problems or opportunities?

    <p>Selecting and implementing a course of action</p> Signup and view all the answers

    Which type of business research focuses on understanding the current situation without making predictions?

    <p>Descriptive research</p> Signup and view all the answers

    What is the primary role of business research in decision making?

    <p>To provide data for strategic actions</p> Signup and view all the answers

    What is a significant consideration when evaluating the expenditure for business research?

    <p>Whether the information will enhance decision-making quality</p> Signup and view all the answers

    Which of the following is a phase of the business research process?

    <p>Research design</p> Signup and view all the answers

    During the implementation of a business strategy, which of the following is most important?

    <p>Flexibility in adjusting to market changes</p> Signup and view all the answers

    Which of the following is an essential skill for conducting effective global business research?

    <p>Understanding cultural nuances</p> Signup and view all the answers

    How do researchers help in identifying new strategic directions for a firm?

    <p>By enhancing current business practices</p> Signup and view all the answers

    Which type of research primarily tests the relationship between variables?

    <p>Causal research</p> Signup and view all the answers

    What distinguishes a research project from a research program?

    <p>Projects are smaller in scope than programs</p> Signup and view all the answers

    What is exploratory research primarily used for?

    <p>Gathering insights about a problem</p> Signup and view all the answers

    In business research, identifying how consumers perceive a firm is part of which action?

    <p>Defining the firm</p> Signup and view all the answers

    What is one of the primary objectives of the BHMS4418 course?

    <p>To prepare students for engaging in practical business research</p> Signup and view all the answers

    Which learning outcome focuses on understanding the concept of business research?

    <p>Know how to define business research</p> Signup and view all the answers

    What distinguishes applied business research from basic research?

    <p>Applied research seeks to solve specific, practical issues in business settings</p> Signup and view all the answers

    How does the BHMS4418 course intent to develop students' skills?

    <p>By combining interpersonal, communicative, and analytical skill development</p> Signup and view all the answers

    What aspect of research is emphasized in the BHMS4418 course's objectives?

    <p>Planning and organizing research projects</p> Signup and view all the answers

    In what manner are students expected to communicate their findings in the BHMS4418 course?

    <p>In a clear and coherent written format</p> Signup and view all the answers

    What can be inferred about the assessment methods used in the BHMS4418 course?

    <p>The course likely includes assessments that require practical implementation of research concepts</p> Signup and view all the answers

    Which of the following best describes the overall goal of the BHMS4418 course?

    <p>To empower students with comprehensive research skills for their final year project</p> Signup and view all the answers

    What is meant by forward linkage in the research process?

    <p>Earlier stages influence later stages.</p> Signup and view all the answers

    What role do research objectives play in the research process?

    <p>They outline the goals to be achieved by conducting research.</p> Signup and view all the answers

    What is a literature review in exploratory research techniques?

    <p>A directed search of published works relevant to the research topic.</p> Signup and view all the answers

    What is the purpose of conducting a pilot study?

    <p>To gather preliminary data and refine research methods.</p> Signup and view all the answers

    Which of the following describes a focus group in exploratory research?

    <p>A discussion led by a moderator among a small group about a specific topic.</p> Signup and view all the answers

    What is regarded as deliverables in the context of research objectives?

    <p>The outcomes expected by the research client.</p> Signup and view all the answers

    Which technique is primarily used to aid in the design of a subsequent study?

    <p>Pretest</p> Signup and view all the answers

    Backward linkage in the research process refers to which of the following?

    <p>Outcomes of the research influencing earlier stages.</p> Signup and view all the answers

    What is the primary purpose of research design?

    <p>To specify the methods and procedures for collecting and analyzing data</p> Signup and view all the answers

    Which of the following is NOT considered a basic design technique for research?

    <p>Peer reviews</p> Signup and view all the answers

    Which sampling method involves gathering data without disturbing respondents?

    <p>Unobtrusive methods</p> Signup and view all the answers

    What is the role of editing in research data processing?

    <p>To check the data for accuracy and consistency</p> Signup and view all the answers

    What is a key characteristic of surveys as a research method?

    <p>They can be performed through various mediums including telephone and internet</p> Signup and view all the answers

    What does the sampling decision process include?

    <p>Selecting the target population and determining sample size</p> Signup and view all the answers

    Which of these is NOT a method of gathering survey data?

    <p>Observational studies</p> Signup and view all the answers

    What do codes refer to in the context of processing and analyzing data?

    <p>Rules for interpreting and recording data</p> Signup and view all the answers

    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

    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
      • Mail
      • 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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    Related Documents

    BHMS4418 Applied Business Research Lecture 1a PDF

    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.

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