Assignment 1
Ashford University
Business Research Methods & Tools
BUS 642
Dr. Raj Singh
Assignment 1
What is business research? Why should there be any question about the definition of research?
In business, managers need to respond to any issues that may arise in the business. While one may be prone to do this based on past experience, the wiser choice would be to use business research to gather the information to make decisions as business research will increase the likelihood that the solution would make a positive impact. According to Business Research Methods, the definition of business research is the structured questioning which provides information by which to guide wise decisions that maximize the impact of the
…show more content…
These may include surveys sent to both types of associates in order to determine motivational forces behind selling. While information is gathered, action is not instantaneous. However, the data may be used in the future. The idea is to find the thought patterns behind the action of an individual.
A sales force manager needs to have information in order to decide whether to create a custom motivation program or purchase one offered by a consulting firm. What are the dilemmas the manager faces in selecting either of these alternatives?
In order to make the decision on a motivation program, a manager must first use business research in order to determine the needs of the associates. While an in-house motivational program may appear to be more cost effective, this may not be the case if the program does not meet the end goal. Therefore, goals must be defined before the decision is made. A survey of motivational actions or education must be compiled to determine the needs of the staff. At this point, the manager must make the decision if the resources necessary are housed within the firm. Merely having a trainer may not be enough if the trainer does not have the education to teach the motivational course. As well, there must be room and allotment time within the firm. A benefit may be that the training can be staggered as to not totally shut down production; however, if a conference room needs to be rented this would no longer be as cost efficient.
Similar
When companies are faced with a particular dilemma, they seek the use of business research to
According to authors Cooper and Schindler, The Study & Business research is the tools and process that is needed to lower the risk that may occur in decision making in Management. A business research inquiry is systematic and provides information that will help direct managerial decisions. A crucial aspect of any business venture is decision making. When an owner of a business is aware of his marketplace surroundings, he will be able to make decisions that are firm and have the ability to stand by them. A business owner will need to have an understanding that is complete with external factors that could possibly affect the owner’s business services, the products and overall business along with his or her business internal factors. The best solution for this dilemma is Business research. Business analysis is the systematic process of pulling together market data that is relevant, which is examined and arranged to draw the conclusions that are pertinent to your company. Essential information in these reports are in reference to the trends of the market, customer groups, and competitors demand segments and all of the marketplace key players. (Academia, (2015).
The business research process often starts with an overview of the market or industry. The key
Bryman, A. & Bell, E. (2007) Business Research Methods. 2nd ed. Oxford: Oxford University Press.
Market research refers to the process of carrying out extensive research to determine whether goods and services are likely to satisfy customer requirements (Arora & Mahankale, 2013). It is way of making sure that a new or existing business rolls out products or services that will have a positive impact in the market. Therefore, market research is an important requirement to both new and existing business holdings. In the case of new businesses, one is likely to get financial assistance if they have done proper research on the market. This information can be used to guarantee the success of a new business. Market research is fundamental step that should be taken by all business because of the benefits that come with it (Beri, 2008). The main argument in the paper is that market research is an essential part of a business regardless of whether they are new or not.
Managers have to be excellent at addresing the needs and goals of individual employees. There is no one motivational approach that works for everyone. As it moivation theory suggest, individuals differ in their desired rewards, how they attempt to satisfy their
Research is a systematic and logical way to solve the research problem. The process used to collect information and data for making business decision is called research methodology . the methodology also include surveys ,interviews publication research and other research techniques with both historic and present information . the important objectives of the research is to discover new facts, test and verify the data and finding solutions for research problem in possible
Motivation has been studied and analyzed and thus many theories address its role in the organizational structure. The main perspective on motivation or the willingness to perform are lumped in two types of theories the content and the process. Motivation itself has three components, direction (what option in picked when presented with options), intensity (the effort and strength of the persons choice in the direction component) and
Business research refers to any type of researching done when starting or running a business. (What is Business Research?). In the case of Lerouge Candy Company, the research is being done for succession planning. Luc Lerouge has hired Paul Thomas Anderson, a business consultant, to do some research to assist him in his succession planning. As he nears retirement and his two sons have other goals in mind, Luc's concern is that his family owned business maintains it continuity and profitability for the future. It is a research project to determine the best interest for the business to continue as a going concern.
Mr. Ely, the CEO, knew that motivation of employees was important because of its significance as a determinant of performance and its intangible nature. Motivation is the set of forces that cause people to choose certain behaviors from among the many alternatives open to them and is key to the success of any business. Mr. Ely hired a consulting firm to determine
Businesses are able to meet their customer’s requirements by carrying out a series of research, for example business would research their target market, this would be to see what their target market wants and need from a particular product for example: if Apple were going to bring out a new laptop they may carry out market research to see what their existing customers wanted from a laptop. For example if they said that they wanted to have a portable and lightweight laptop, apple may then consider bring out a laptop that will satisfy the needs, such as the mac book air which was design to be extremely lightweight and thin so that it is easy for business men or women to transport it around with them if they had the need to travel to a meeting for example. A business will not be able to survive without carrying out
Prior to my interview with Dr. Lisa Calvano, I did not have the impression that research was involved in any part of business management. After meeting with her, I learned exactly how important research is to the business management discipline. Research in business management is a systematic investigation that helps to answer complications and problems within businesses. Research in the field contributes to solid management understanding and knowledge. Information from research is usually produced by classical methods: statistical data and analysis, interview data, and survey data (i.e., stock prices). Researchers, especially in business management must be careful to declare their research findings as credible.
Research is the process of getting dependable answers to important questions using a systematic method of gathering, analysing and interpreting evidence its end product is knowledge.
Motivation is equivalent to a fuel that burns and boost an individual’s inner self to move him/her towards achieving their goals. By identifying the goals of employees the managers able to provide the employees what they are seeking, which eventually raise the determination of employees towards work.
As management is concerned about gaining profitability, employee relation, stakeholder interactions, and leadership and so on, business and management research is therefore derived from social science disciplines embedded in sociology, psychology, anthology and economics (Bryman & Bell, 2015). Also, management research can be regarded as applied research. According to Bryman and Bell (2015), it helps readers with choosing between solutions and carrying out practices.