Skillslab 4 Summary
Entrepreneurship & Business Innovation
, Lecture 1
What is business research?
A series of well thought out activities and carefully executed data analyses that help a manager to
avoid, solve or minimize a problem.
Why be knowledgeable about it?
Decisions based on
- The results of good research tend to be more effective
- Hunches, intuition and past experiences are more likely to be wrong
- Experience without research leads to losses!
You should be knowledgeable about business research, because;
o To be able to perform business research
o To be able to steer business research
o To be able to evaluate business research
Examples of products gone wrong
o Coca Cola C2
o Swiffer Wet Mop in Italy
o IKEA goes to USA
The 7 step business research
Deductive research = aims to test a theory
(theory > data)
Inductive research = aims to build theory
(data > theory)
Entrepreneurship & Business Innovation
, Lecture 1
What is business research?
A series of well thought out activities and carefully executed data analyses that help a manager to
avoid, solve or minimize a problem.
Why be knowledgeable about it?
Decisions based on
- The results of good research tend to be more effective
- Hunches, intuition and past experiences are more likely to be wrong
- Experience without research leads to losses!
You should be knowledgeable about business research, because;
o To be able to perform business research
o To be able to steer business research
o To be able to evaluate business research
Examples of products gone wrong
o Coca Cola C2
o Swiffer Wet Mop in Italy
o IKEA goes to USA
The 7 step business research
Deductive research = aims to test a theory
(theory > data)
Inductive research = aims to build theory
(data > theory)
