Business: Scientific Method and Business Research Managerial Essay

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Chapter 1 – Role of Business Research
Managerial value of bus res: product-oriented, process-o, marketing oriented. decision-making process associated with devt and implementation of a business strategy involves 4 interrelated stages (1. Identifying problems or opportunities, 2. Diagnosing and assessing problems or opportunities, 3. Selecting and implementing a course of action, 4. Evaluating course of action)
Evaluation research: formal, objective measurement and appraisal of the extent a given activity, project or program has achieved its objectives or whether continuing programs are presently performing as projected
Performance-monitoring research: refers to research that regularly, sometimes routinely, provides feedback for evaluation and control of business activity
When is business research needed: based on time constraints, availability of data, nature of decision, benefits vs costs
Chapter 2 – Information Systems and Knowledge Management chstics of valuable info: relevance, quality, timeliness, completeness || knowledge mgmt.(intellectual capital) edi(electronic data interchange)-exchange tat occurs wen one company’s computer system is integrated with another company’s system decision support systems—crm(customer rship mgnt): 4 possible functions it serves in business: foundational, testing, issues, performance
Chapter 3 – Theory Building ladder of abstraction:most concrete to most general(wider in scope, less agreeable to measurement) latent construct-concept that is not directly observable, but can be estimated through proxy measures ; eg. job perf, cust satisfac
Operationalizing: process of identifying actual measurement scales to assess variables of interest; scientific enquiries have 2 basic levels-empirical, abstract theory building: deductive reasoning-logical process of deriving conclu abt specific instance based on a known gen premise or something known to be true; inductive-logical process of establishing a gen proposition on the basis of observation of particular facts scientific method-assessment of relevant existing knowledge of a phenomenon, formulation of concepts/propo, hypo statement, design of research to test the hypotheses, acquisition of meaningful empirical data, analysis and evaluation of data, proposal of an explanation of the phenomenon and statement of new probs raised by research
Chapter 4 – Business research process-an overview perfect certainty abt future is rare, if a mgr is certain abt problem/opportu and future
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