Research Methods in Business Psychology

To solve problems and expand knowledge

Investigate and Analyse

A broad definition includes studying or investigating a subject, while a specific definition involves systematic inquiry using orderly and disciplined methods.

<p>To gather data</p> Signup and view all the answers

<p>The discovery of new facts through systematic scientific enquiry</p> Signup and view all the answers

<p>Who? What? Where? When? Why? How?</p> Signup and view all the answers

<p>To gain a competitive advantage and to make informed decisions in the face of increasing globalisation, changing consumer behaviour, and technological growth.</p> Signup and view all the answers

<p>Business research is more focused on gaining a competitive advantage and is often kept secret, whereas scientific research is more rigorous in its concepts and procedures, and is typically undertaken in the public domain.</p> Signup and view all the answers

<p>Research plays a crucial role in informing policy decisions by providing evidence-based information, and it supports funding applications by providing a solid foundation for grant proposals and funding requests.</p> Signup and view all the answers

<p>The increasing importance of the capital markets creates a need for accurate and reliable information, as investors and stakeholders require sound data to make informed investment decisions, which in turn drives the demand for solid research.</p> Signup and view all the answers

<p>Examples include market research, competitor analysis, and customer insights, which are essential for businesses to make informed decisions about product development, marketing strategies, and investment opportunities.</p> Signup and view all the answers

<p>The opening up of new markets creates new opportunities for businesses, but also requires them to adapt to new market conditions, consumer preferences, and regulatory environments, which drives the demand for sound information and solid research.</p> Signup and view all the answers