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Chapter 1
Business Research
| Question | Answer |
|---|---|
| Business Research | a systematic inquiry that provides information to guide managerial decisions. |
| Return On Investment (ROI) | calculating the financial return for all expenditures |
| Management Dilemma | the problem or opportunity that requires a management decision. |
| Data Warehouse | an electronic storehouse where vast arrays of collected integrated data are ready for mining |
| Data Mining | applying mathematical models to extract meaningful knowledge from volumes of data contained within internal databases. |
| What drives business research? | Goals related to sales market share, retorn on investment, profitability, customer acquisition, customer satisfaction, customer retention and employee production. |
| DECISION SUPPORT SYSTEM (DSS) | the strategic and tactical activities designed to complete an "exchange" |
| Intranet | a private network that is contained within an enterprise (not available to the public) |
| Extranet | a private network that uses the internet protocols and public telecommunication to share and organizations information data or operations. |
| Business Intelligence System (BIS) | designed to provide the manager with ongoing information about events and trends in technological, economic, political and legal demographic, cultural, social and most critically competitive arenas. |
| Strategy | the general approach an organization will follow to achieve its goals. |
| Tactics | those specific, timed activities that execute a strategy |
| What's the purpose of business research? | to identify and define opportunities and problems. To define, monitor, and refine strategies. To define, monitor, and refine tactics. To improve our understanding of various fields in management. |
| Full-Service FirmsFull-Service Researchers | Involved in research planning for their clients from the moment of discovery of the management delemma |
| Custom Researchers | Craft a research design unique to the decision makers dilemma |
| Proprietary methodology | a research program or technique that is owned by a single firm. Ex: method developed by the firm w a twist |
| Specialty Research FirmSpecialty Researchers | the largest number of research firms and tend to dominate the small research firms w specialty in one or several different areas. |
| Syndicated Data Provides | tracks the change of one or measures over time |
| Omnibus Study | combines one or a few question from several decision makers who need information from the same population. |
| What is good research? | follows the scientific method and systematic. |
Created by:
atharpest
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