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Chapter 1

Chapter 1. Research in Business. Learning Objectives. Understand what is business research and how it differs from business decision support systems and business intelligence systems

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Chapter 1

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  1. Chapter 1 Research in Business

  2. Learning Objectives • Understand what is business research and how it differs from business decision support systems and business intelligence systems • Trends affecting business research the distinction between good business research and research that falls short of professional quality • The value of learning business research process skills

  3. Why Study Business Research? Business research provides information to guide business decisions

  4. Business Research Defined • A process of determining, acquiring,analyzing, synthesizing, and disseminatingrelevant business data, information, andinsights to decision makers in ways thatmobilize the organization to take appropriate business actions that, in turn, maximize business performance

  5. Competition Studying Business Research New Research Perspectives Growth of Internet Greater Computing Power Stakeholder Influence Business as a discipline Factors Complex Decisions Government Intervention

  6. Data warehousing Storing vast amounts of data in electronic storehouses Data mining Applying mathematical models to extract meaningful knowledge from data in internal databases Computer Advances

  7. Business Planning Drives Business Research Organizational Mission Business Goals Business Strategies Business Tactics

  8. Decision Support Systems Numerous elements of data organized for retrieval and use in business decision making Stored and retrieved via Intranets Extranets Business Intelligence Systems Ongoing information collection Focused on events, trends in micro and macro-environments Information Sources

  9. Exhibit 1-1 Sources of Business Intelligence Government/ Regulatory Competitive Economic Demographic Business Intelligence Technological Cultural/ Social

  10. Business Tactics and Research Häagen-Dazs Tactics • Super premium • Dozens of flavors • Small packages • Signature colors on packaging • Available in franchise and grocery stores

  11. Research May Be Unnecessary • Can information be applied to a critical decision? • Does it improve managerial decision-making? • Are sufficient resources available?

  12. Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed Adequate analysis Unambiguous presentation Conclusions justified Credentials Exhibit 1-8 Characteristics of Good Research

  13. Exhibit 1-4 Who Conducts Business Research? Internal External

  14. Eastman Kodak has a world-class research department

  15. Exhibit 1-4Business Research Suppliers

  16. Business Research Firms

  17. AC Nielsen Scarborough Millward Brown Nielsen Media Research Roper ASW CSA TMO Yahoo! ORC International DoubleClick Nielsen/NetRatings Taylor Nelson Sofres Intersearch J.D. Power Associates MediaMark Simmon (SMRB) BRMB Information Resources Inc. Exhibit 1-6 Some Syndicated Data Providers

  18. Specialty Business Research Firms Methodology Process Industry Participant group Geographic Region

  19. Sales Promotion Advertising Direct Business Public Relations Communication Agencies

  20. Consultants Business General Business Trade Associations General business Business specialties Research specialties Consultants and Trade Associations

  21. Exhibit 1-4 Who Conducts Research?

  22. See You Next Week Source: Cooper R. D. & Schindler, S. P. (2006). Business Research Methods 9e. McGraw.Hill

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