[MGT 201] - Final Exam Guide - Ultimate 34 pages long Study Guide!
Document Summary
Business research is the application of the scientific method in searching for the truth about business phenomena. Idea and theory development: problem definition, searching for and collecting information, analyzing data, communicating the findings and their implications. Some of the action in business research include defining business opportunities and problems, generating and evaluating alternative course of action and a few others. Business research is not just about creating, conducting, and analyzing surveys. Business research is designed to facilitate the managerial decision-making process for all aspects of the business: finance, marketing, human resources, and so on. One useful way to describe research is based on the specificity of its purpose. Basic business research is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization. Basic research can be used to test the validity of a general business theory or to learn more about a particular business phenomenon.
