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.