1-1
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
•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
1-2
Why Study
Business Research?
Business
research provides
information to
guide business
decisions
1-3
Business Research
Defined
•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
1-4
Studying Business
Research
New
Research
Perspectives
Growth of
Internet
Stakeholder
Influence
Greater
Computing
Power
Business as a
discipline
Factors
Complex
Decisions
Competition
Government
Intervention
1-5
Computer Advances
Data warehousing
• Storing vast amounts
of data in electronic
storehouses
Data mining
• Applying
mathematical models
to extract meaningful
knowledge from data
in internal databases
1-6
Business Planning Drives
Business Research
Organizational
Mission
Business
Goals
Business
Strategies
Business
Tactics
1-7
Information Sources
Decision Support
Systems
• Numerous elements of
data organized for
retrieval and use in
business decision making
• Stored and retrieved via
Business Intelligence
Systems
• Ongoing information
collection
• Focused on events,
trends in micro and
macro-environments
– Intranets
– Extranets
1-8
Exhibit 1-1 Sources of
Business Intelligence
Government/
Regulatory
Competitive
Economic
Demographic
Business
Intelligence
Technological
Cultural/
Social
1-9
Business Tactics and
Research
Häagen-Dazs Tactics
– Super premium
– Dozens of flavors
– Small packages
– Signature colors on
packaging
– Available in franchise
and grocery stores
1-10
Research May Be
Unnecessary
• Can information be applied to a critical
decision?
• Does it improve managerial decisionmaking?
• Are sufficient resources available?
1-11
Exhibit 1-8 Characteristics
of Good Research
Clearly defined purpose
Detailed research process
Thoroughly planned design
High ethical standards
Limitations addressed
Adequate analysis
Unambiguous presentation
Conclusions justified
Credentials
1-12
Exhibit 1-4 Who Conducts
Business Research?
Internal
External
1-13
Eastman Kodak has a worldclass research department
1-14
Exhibit 1-4
Business Research Suppliers
External Research Suppliers
Business Research Firms
Communication Agencies
Consultants
Trade Associations
1-15
Business Research Firms
Business Research Firms
Full Service
Specialists
Custom
Methods
Proprietary
Syndicated
Data
Other
1-16
Exhibit 1-6 Some
Syndicated Data Providers
•
•
•
•
•
•
•
•
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.
1-17
Specialty Business
Research Firms
Methodology
Process
Industry
Participant group
Geographic Region
1-18
Communication Agencies
Sales
Promotion
Advertising
Direct
Business
Public
Relations
1-19
Consultants and
Trade Associations
• Consultants
– Business
– General Business
• Trade Associations
– General business
– Business
specialties
– Research
specialties
1-20
Exhibit 1-4 Who Conducts
Research?
1-21
See You Next Week
Source: Cooper R. D. & Schindler, S. P.
(2006). Business Research Methods
9e. McGraw.Hill
1-22