CDE4121 Lecture Notes - Lecture 1: Skill, Ethical Dilemma
MODULE 1: THE ROLE OF BUSINESS RESEARCH
Business Research: an organized, systematic, data-based, critical, objective, inquiry or investigation into a
specific problem, undertaken with the purpose of finding answers or solutions to it
Types of Business Research:
• Basic Business Research: conducted with no purpose, attempts to expand knowledge of specific
area, no aim to solve an issue
• Applied Business Research: conducted with purpose, aims to solve the issue
Factors affecting Business Research:
• Time constraints
• Availability of data
• Nature of decision made
• Benefits vs. costs
Business Research in 21st Century:
• Communication technologies: always coected, issues with storage of iforatio, costs ad
access
• Global Business Research: must understand nature of market in different areas, cross validation
Who does the Research?:
• Outside agencies: an independent research firm contracted by the company that will actually
benefit – can provide fresh insight and perspective, more objective, special skillset and expertise,
higher costs, time consuming, may threaten company
• In-House Research: performed by employees of the company that will benefit – completed quickly,
close collaboration with company, cheaper, discretionary, bias perspectives, less qualified
Business Ethics: application of morals to behaviour related to the exchange environment
Moral Standards: principles that reflect beliefs about what is ethical and what is not
Ethical dilemma: a situation in which one chooses from alternative courses of actions, each with different
ethical implications
Codes of Ethics:
• Research Process: volunteer participation, consent, right for volunteer to withdraw, confidentiality,
information about research, access
• Reporting Process: report data, results and finding honestly, no false or fabricated information,
avoid errors, records of information and data, critic and review research, protection of data,
minimise risks
find more resources at oneclass.com
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Document Summary
Business research: an organized, systematic, data-based, critical, objective, inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it. Types of business research: basic business research: conducted with no purpose, attempts to expand knowledge of specific area, no aim to solve an issue, applied business research: conducted with purpose, aims to solve the issue. Factors affecting business research: time constraints, availability of data, nature of decision made, benefits vs. costs. Business research in 21st century: communication technologies: always (cid:862)co(cid:374)(cid:374)ected(cid:863), issues with storage of i(cid:374)for(cid:373)atio(cid:374), costs a(cid:374)d access, global business research: must understand nature of market in different areas, cross validation. Who does the research: outside agencies: an independent research firm contracted by the company that will actually benefit can provide fresh insight and perspective, more objective, special skillset and expertise, higher costs, time consuming, may threaten company.
