Business Research Methods - Introduction

Learning Objectives



To Understand . . .

What business research is and how it differs from  business decision support systems and business  intelligence systems.

Trends affecting business research and the  emerging hierarchy of business decision makers.

The distinction between good business research  and research that falls short of professional quality.

The nature of the research process.


Business research provides information to guide business decisions


Research Identifies changes in business environment and would help in responding  to change

Enterprises have long recognized the need
to better sense and respond to business change.

Definition

A process of determining, acquiring,analyzing, synthesizing, and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performance


Research Reduces Risk

The primary purpose of research is to reduce the level of risk of a business decision.

Information Sources


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



Research done and information collected has to pass these tests?



Can information be applied to a critical decision?
Will the information improve managerial decision making?
Are sufficient resources available?


Key Terms


Applied research
Business intelligence system (BIS)
Business research
Control
Decision support system
Descriptive studies
Explanatory Studies

Management dilemma
Predictive studies
Pure research
Reporting studies
Return on Investment (ROI)
Scientific method
Strategy
Tactics