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2006 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin
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Chapter 1
Researchin Business
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Understand . . . what business research is and how it differs frombusiness decision support systems and businessintelligence systems trends affecting business research and theemerging hierarchy of business decision makers the distinction between good business research
and research that falls short of professional quality the value of learning business researchprocess skills
Learning Objectives
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Why StudyBusiness Research?
Business
research providesinformation toguide business
decisions
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Studying BusinessResearch
ComplexDecisions
StakeholderInfluence
Competition
Factors
Growth ofInternet
Business as adiscipline
Government
Intervention
GreaterComputing
Power
NewResearch
Perspectives
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Computer Advances
Data warehousing Storing vast amounts
of data in electronicstorehouses
Data mining Applying
mathematical modelsto extract meaningfulknowledge from datain internal databases
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Business Planning DrivesBusiness Research
Organizational
Mission
BusinessStrategies
BusinessTactics
Business
Goals
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Information Sources
Decision SupportSystems
Numerous elements ofdata organized forretrieval and use inbusiness decision making
Stored and retrieved via Intranets Extranets
Business IntelligenceSystems
Ongoing informationcollection
Focused on events,trends in micro andmacro-environments
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Exhibit 1-1 Sources ofBusiness Intelligence
BusinessIntelligence
Government/Regulatory
Economic
Competitive
Demographic
Technological Cultural/Social
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Business Tactics andResearch
Hagen-Dazs Tactics Super premium Dozens of flavors Small packages Signature colors on
packaging Available in franchise
and grocery stores
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Exhibit 1-2 Hierarchy ofBusiness Decision Makers
Visionaries
StandardizedDecision Makers
Intuitive Decision MakersIntuitive Decision Makers
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Exhibit 1-2 Hierarchy ofBusiness Decision Makers
Visionaries
Intuitive Decision Makers
StandardizedDecision Makers
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Exhibit 1-2 Hierarchy ofBusiness Decision Makers
Visionaries
Intuitive Decision Makers
StandardizedDecision Makers
Visionaries
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Exhibit 1-3 Minute Mainand Business Research
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Research May BeUnnecessary
Can information be applied to a criticaldecision?
Does it improve managerial decision-making?
Are sufficient resources available?
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Information Value Chain
Characteristics
Data collection/transmission
Data
interpretation
Models
Decision
support systems
Datamanagement
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Exhibit 1-8 Characteristicsof Good Research
Clearly defined purpose
Detailed research process
Thoroughly planned design
High ethical standards
Limitations addressed
Adequate analysis
Unambiguous presentation
Conclusions justified
Credentials
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Exhibit 1-4 Who ConductsBusiness Research?
Internal External
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Eastman Kodak has a world-class research department
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Exhibit 1-4Business Research Suppliers
External Research Suppliers
Business Research Firms
Communication Agencies
Consultants
Trade Associations
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Business Research Firms
Business Research Firms
Full Service Specialists
Custom
Proprietary
Methods
SyndicatedData
Other
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Syndicated Services
Nielsen MediaResearch
provides audiencedata for television
programs likeCourt TV
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Exhibit 1-6 SomeSyndicated 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.
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Specialty BusinessResearch Firms
Methodology
Process
Industry
Participant group
Geographic Region
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Consultants andTrade Associations
Consultants Business General Business
Trade Associations General business Business
specialties Research
specialties
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Trade Associations
NHRA
CASRO
MRA
ESOMAR
BRA
AMA
WAOBRP
MPA
NAB
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Exhibit 1-4 Who ConductsResearch?
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Key Terms
Business intelligencesystem
Business research Control Custom Researcher Data mining Data warehouse Decision support
system Extranet Full-service
researcher
Intranet Management dilemma Omnibus researcher
Omnibus Study Proprietary Methodology Return on Investment
(ROI) Scientific method Strategy Syndicated data provider
Tactics