e-BOOK
Research Methods For Business: A Skill Building Approach
Just close your eyes for a minute and utter the word research to yourself. What kinds of images does this word
conjure up for you? Do you visualize a lab with scientists at work with Bunsen burners and test tubes, or an
Einstein‐like character writing a dissertation on some complex subject such as ‘behavioral heterogeneity in economic institutions’, or someone analyzing large amounts of scanner data to assess the impact of a price reduction
on sales? Most certainly, all these images do represent different aspects of research. However, research is not
necessarily characterized by Bunsen burners, Einstein‐like characters or Big Data. Research, a somewhat intimidating term for some, is simply the process of finding solutions to a problem after a thorough study and analysis
of the situational factors. Along these lines, people (consumers, investors, managers) constantly engage themselves in exploring and examining issues – and hence are involved in some form of research activity‐ as they want
to change mobile phone providers, buy a new car, go to the movies, invest in a business startup, or increase
advertising expenditures in their role as a manager.
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