Intro to Business Research
Chapter 1
Chapter 1
Business research is the function that links the business information and knowledge that can be used for determining, implementing, and evaluating the opportunities and goals of a firm.
Business Research
The set of values and standards we use to make decisions about right and wrong. It comes from the Greek ethos which is translated
as “character” in English.
Ethics
Data that are collected for the first time by the researcher for the specific research project at hand
Primary data
Exploratory, Descriptive, and Causal
Basic Research Designs
When we are in need of determining if two or more variables are causally related we must turn to causal research procedures. Our interest in causal research is to determine the degree to which one variable is causally related to another (e.g. does ad “A” cause people to remember its message better than “B”?
Causal Research
Recognizing the existence of problems and opportunities.
Step 1
Also known as teleology, which means the greatest good for the greatest number of people. The process often includes a cost/benefit analysis.
Utilitarianism
Data was previously gathered for some other purpose.
Secondary data
Should consist of 8 to 12 people selected to be
homogeneous along some characteristics important
to the researcher
Focus Group
Experimental or casual designs differ from other research designs in the degree of control exerted by the researcher over the conditions under which data are collected.
Experimentation
Selecting an alternative: The final stage in decision-making is the choice among the alternative courses of action available to the decision-maker.
Step 4
Ethical decisions are based on the people around them or the specific context in which they find themselves. The old saying, “When in Rome, do as the Romans do” sums up the relativist position –ethics change as context changes.
Relativism
1. Low cost
2. Speed
3. Availability
4. Flexibility
Advantages of Secondary Data
Talk with someone whose experience, expertise, or
position gives them a unique perspective on the
subject of interest.
In-depth interview
It has to do with whether the independent variables that were manipulated caused the changes in the
dependent variable.
Internal Validity
Defining the problem or opportunity
Step 2
The term code of standards is used in lieu of “code of
ethics” to illustrate that the firm should go beyond
traditional ethical issues. A “code of standards” is more
inclusive.
Code of Standards
1. Poor fit
2. Accuracy
3. Age
4. Quality
Disadvantages of Secondary Data
Investigate previous work related to the research issues under study.
Literature review
It is concerned with whether the results are generalizable to other subjects, stores, or areas.
External Validity
Identifying alternatives. This stage involves identifying viable alternatives.
Step 3
Governments at all levels have developed rules and regulations for research involving human subjects. These laws have led to the creation of the ____ which is required for any institution that conducts research for the Federal government specifically the Department of Health and Human Services.
Institutional Review Board (IRB)
Taken every ten years, reports the population by
geographic region.
Census of the Population
Beneficial for studying ill-structured problems, which are defined as “non-routine problems that have no clear solution."
Qualitative Research
The sales volume and market share expectations
of new product. Some estimates of the repurchase cycle and likelihood of repurchase.
Test Marketing