What

is business research?

It is a systematic inquiry that provides information to guide

managerial decisions.
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 What

are some of the specifics about business research? Planning Acquiring Analyzing Disseminating of relevant data
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 Why

study / do business research?

Return on investment (ROI)

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Factors causing Management Dilemma: Explosive growth and influence of the internet Stakeholders demanding greater influence More vigorous competition More government intervention More complex decisions Maturing of management as a group of disciplines
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Technology to the Managers Rescue! Lower cost data collection Better visualization tools Powerful computations More integration of data data warehousing Advanced analytical tools for enhanced insights data mining Faster access to information Customized reporting

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D.S.S.

Decision Support System

B.I.S.

Business Intelligence System

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 What

is the difference between strategy and tactic? Strategy: A broad based approach an organization follows to achieve its goals. Tactic: A specific, timed activity to execute a strategy.
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main types of decision makers: decision maker decision maker

Intuitive

Standardized

Visionary

decision maker
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 What

is good research?

Research that uses the scientific method is considered good research.

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Characteristics of Scientific Method: Purpose clearly defined Research process detailed Research thoroughly planned High ethical standards applied Limitations frankly revealed
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Adequate

analysis for decision makers needs Findings presented unambiguously Conclusions are justified Researchers experience is reflected
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Exposition:

Statements that describe without attempting to explain.

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 Argument:

Allows us to explain, interpret, defend, challenge & explore meaning. Arguments consist of deductive and inductive type.
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 Deduction:

Is a form of

argument that purports to be conclusive. Premises that are

true are given from which a conclusion necessarily follows
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Example of Deductive logic: Premises: 1. All men are mortal 2. Socrates is a man Conclusion: Therefore Socrates is mortal.

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Induction:

Drawing a

conclusion from one or more particular facts.

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Example of Inductive logic: Observation: It has snowed in the Himalayan mountain range every winter since recorded history.

Conclusion: It will snow again in the Himalayas this winter.

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Combining

Induction and

Deduction: Induction and deduction are used together in research reasoning.

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 Concept:

A generally accepted collection of meanings or characteristics associated with certain events, objects, conditions, situation and behaviors.
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The success of research hinges on:

How
How

clearly we conceptualize well others understand the

concepts we use
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Construct:

An image or abstract idea specifically invented for a given research and / or theory building purpose.
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