Business Research

Definition of Business Research Business research is the systematic, controlled, empirical, and critical investigation of any area/phenomenon of interest in the business environment Research should be the driver of manager decisions

Business Research Process The Starting Point Secondary data search Problem identification Determine value of the research  Weigh the value/benefit of the research with its cost Develop the research proposal

Business Research Process The Research Design What type of research method is most suitable/appropriate to answer the research question?  Survey, experiments, test market, observation, focus groups, interviews, etc. What type of sampling method is sufficient?

Business Research Process Collecting and Analyzing Data From whom do we collect the data? How will we collect it? What data is most useful to for decision makers?  Qualitative, quantitative, descriptive, inferential

Business Research Process Reporting, Presenting, Evaluating Synthesizing results Presenting in understandable, “lay person” terms Evaluating the outcome with its cost

Backward Planning Backward planning technique allows researcher to begin with the end in mind.  What is the expected/hoped for end result? How will the information that is gathered be used? What should this information allow us to do?

Knowledge Management Chapter 2

Knowledge Management (KM) Definition: Building on intellectual assets to accomplish organizational objectives.  The more knowledge an organization has, the more likely it can respond to organizational and marketplace challenges  The more knowledge an organization has, the better it can “thrive.”

data informationstrategy knowledge $ Knowledge Management (KM)