The Fundamentals of Business Research Quiz

Introduction to Business Research

• A responsible individual must understand the environment and the nature of the phenomena it presents to find solutions to existing problems or gaps.

Understanding Research

• Research involves identifying gaps between what is currently understood/known and what should be.

Types of Research

• There are two main types of research: applied research and basic research.

Importance of Research to a Manager

• Research is crucial for managers to make informed decisions.

When Business Research is Needed

• Business research is necessary when there are gaps in understanding or knowledge.

Ethical Issues in Business Research

• Ethical issues are involved in business research, and managers must be aware of them.

Data Types

• There are two main data types:

  Qualitative Data

  • No form of organization.
  • Preferred when collecting data.
  • Less accurate when determining measures.
  • Lists are used in this data type.
  • No form of summarization.

  Quantitative Data

  • Organized into classes.
  • Preferred when analyzing data.
  • Highly accurate when determining measures.
  • Frequency tables are used in this data type.

Test your knowledge on the fundamentals of business research in this quiz. Learn about the importance and scope of research, differentiating between applied and basic research, and understanding the ethical issues involved. Gain insights on when and why business research is needed, and its significance to managers.