Chapter 1: Research in BusinessThe chapter is mainly about the research in business and how relevant they are to business organizations. Business research is conducted for several reasons which are very relevant in the business environment. The most important reason for conducting a business research is for the purpose of gathering information on the market environment and the clients. The research enables the company or business enterprise to put in place measures that enables it to prosper. Business research also equips the managers with the knowledge of consumer priorities.
The research has to be conducted in a credible manner for the purpose of ensuring that the results are accurate. Most companies use surveys as a means of collecting data from the consumers. The use of surveys includes using mobile phones or collecting the data directly from the customers. The raw data is usually analyzed by experts using various means of analysis. Most of the analysis is however done using mathematical formulas that have been proven to be reliable. According to the chapter, other reasons for conducting business research include testing of new products in the market.
The research enables the company to know whether its new products are being consumed or not. The research will also determine the rate which the new products are being consumed or how the products are being perceived in the market. In order to ensure adequate distribution of the products in the market, a business research is used. The research equips the managers with the knowledge of how and where the products should be distributed. In case the survey indicates that the products are required more in an area as compared to other areas, the managers will be in a position to make informed judgment.
When measuring the effectiveness of advertisements, then a business research is very relevant. The research reveals the rate of consumption of the product before and after the advertisement. The data is then used to calculate the efficiency of the advertisement. Business research is also relevant for the study of competition in the market. Through a business research, the company will be able to know its competitors and thus enabling it to put in place relevant measures to counter the competition.
Business research is thus quite important and should be well conducted using proper means. Chapter 2: Addressing management problems with scientific thinkingThe use of scientific methods of solving management problems is quite practical in the modern business world. The scientific method basically tries to identify the root of the problem and solve it using the best method possible. When properly applied, the use of scientific methods in management can prevent the occurrence of great failures. The method also has the capability of eliminating management problems completely.
The use of trial and error is very common when using the scientific methods to solve management problems. When using a scientific method to solve a problem, it is important to use several steps to avoid errors and ensure that the problem is completely solved. The first step mainly involves creating a title for the project when solving the problem. Statements should also be written describing what is required at the end of the research. Careful step by step notations should then be made for the purpose of carefully observing the problem.
Guessing the probable cause of the problem should not be done at this stage. The significant conditions should then be identified and the problem summarized in writing.