Business Research Methods Midterm Exam Questions with Correct Answers

business research is a field of practical study in which a company - ANSWER-obtains data and analyzes it in order to better manage the company, can include financial data, consumer feedback, product research and competitive analysis executives and managers who use business research methods are able to - ANSWER-better understand their company, the position it holds, and how to improve that position business research roadmap - ANSWER-understanding business research problem definition research techniques understanding of research construct designing the data collection instrument determining the sample collecting the data analyzing the data sharing the results for managers purpose of research is to - ANSWER-provide knowledge regarding the organization, the market economy ect. for financial managers might be to answer - ANSWER-will the environment for long term financing be better two years from now for a personnel manager might be to answer - ANSWER-what kind of training is necessary for production employee business research is the - ANSWER-application of the scientific method in searching for the truth about business phenomena the process includes - ANSWER-idea and theory development, problem definition, searching for and collecting information, analyzing data, communicating the findings and their implications business research information is not - ANSWER-intuitive or haphazardly gathered, accurate and objective, relevant to all aspects of the business, limited by one's definition of business applied business research - ANSWER-conducted to address a specific business decision for a specific firm or organization