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TYPES OF BUSINESS RESEARCH: APPLIED AND BASIC

Research  can   be   undertaken  for  two   different   purposes.  One   is  to  solve   a  current  problem faced  by  the  manager in  the  work   setting,   demanding a  timely   solution.  For  example,  a  particular product   may   not  be  selling  well   and  the  manager might   want   to  find  the  reasons  for  this  in order   to  take   corrective  action.    Such research  is  called  applied research.  The  other  is  to  generate a  body   of  knowledge   by  trying   to  comprehend  how   certain   problems  that  occur...
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Research and the Manager

A common   experience  of  all  organizations  is  that  the  managers  thereof  encounter problems  big  and small   on  a  daily basis, which they have to solve by  making  the right decisions.  In  business,  research  is usually  primarily  conducted  to  resolve problematic  issues   in,   or  interrelated  among,  the   areas   of accounting,  finance,management,  and  marketing.  In  Accounting,  budget  control    systems,  practices, and  procedures  are  frequently  examined.  Inventory costing    methods,  accelerated depreciation, time-series  behavior  of  quarterly  earnings,  transfer    pricing,  cash recovery   rates, ...
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Definition of Research

We  can  now   define   business  research  as  an  organized, systematic,  data-based, critical,   objective,  scientific  inquiry   or  investigation  into   a  specific problem, undertaken  with   the  purpose  of  finding   answers  or  solutions  to it. In essence, research   provides the needed information  that   guides   managers   to   make informed  decisions  to  successfully  deal with problems.  The   information provided   could   be  the  result   of  a  careful   analysis  of  data gathered  firsthand   or  of data   that  are   already  available  (in   the  company,  industry...
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BUSINESS RESEARCH

Business  research  can  be  described  as  a  systematic  and  organized  effort  to  investigate   a  specific problem  encountered  in  the  work   setting,   that  needs  a  solution. It  comprises  a  series   of  steps designed  and   executed,  with   the   goal   of  finding answers  to  the  issues    that  are   of  concern  to the   manager  in  the  work   environment.   This  means   that  the  first  step   in  research  is  to  know where  the  problem areas   exist   in  the  organization,  and   to  identify    as  clearly...
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The Excitement of Research and Why Managers Should Know about Research

Modern   technology  has   made    research  an   exciting  and   a   relatively  smooth process.  Today   a personal  computer  with   a  modem   or  any   means   to  an  Internet   connection  places  one   within easy   reach   of  knowledge  of  what   is   happening  in   the   global  markets  and   how   the   world economy  i s   impactin g  on business.  Chapter   3  gives   a  broad   idea   of  how   technology  has facilitated  the research  process  and   decision  making,  and   the  later    chapter...
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WHAT IS RESEARCH?

Just  close   your   eyes   for  a  minute   and   utter  the  word   research  to  yourself.  What kinds   of images  does   this  word   conjure   up  for  you?  Do  you   visualize  a  lab  with scientists  at  work   with Bunsen   burners   and   test  tubes,    or  an   Einstein-like  character   writing   dissertations  on  some complex  subject,   or  someone  collecting  data to  study   the   impact   of  a   newly  introduced  day-care system   on   the   morale    of employees?  Most   certainly,  all   ...
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INTRODUCTION TO RESEARCH

After  completing  Chapter 1you should be able to:   1.  Describe   what   research  is  and  how   it  is  defined. 2.  Distinguish  between  applied  and    basic    research,  giving    examples,  and discussing  why   they   would  fall  into  one  or  the  other  of  the  two  categories. 3.  Explain   why   managers  should   know   about   research. 4.  Discuss   what   managers  should   and   should   not  do  in  order   to  interact   most effectively  with  researchers. 5.  Identify   and   fully   discuss  specific   situations  ...
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The Manager–Researcher Relationship

Research is necessary for manager Also see:   Advantages and Disadvantages of internal and external researchers Handling manager research relationship d uring   their   careers, it often   becomes necessary for managers to deal    with   consultants.    Many   academicians also   have   their students do research projects   for the class   and several organizations  allow   access  to  them, asking  only   that  a  copy of the  research  project  be  made   available to  them.  Some professors interested in publishing   the results of basic research also approach organizations and   are afforded the facilities to conduct   research.  If the research has been done   scientifically, then the results of ...
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Applied Research: Cases

Applied  Research Consider   the  following  two  situations  cited   in  Business  Week. 1. Oxford Health Plans Inc. saw trouble brewing. It was a company in distress experiencing computer problems.  Turnover   among   Oxford‘s   programmers  was unusually high and processing of claims became  a  big nightmare. Clients started cancelling  their policies, claims for bypass surgery  and   such were way up, and  premiums  paid out  relative to clients‘   medical  expenses,  on  a  percentage basis,   was   close   to  85%. 2.  Xerox is insular and isn‘t ready for  the increasingly  competitive,  high-tech   world. Xerox   still   relies on old-fashioned  and   slow-selling  analogue copiers for more than half its revenue and despite   its double-digit growth in digital prod...
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