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Business Research Projects: answering the questions - Essay Example

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Running Head: Principles of Management Principles of Management 1. What did Dr Wang mean by ‘your job as a management Master’s degree student is to use theory to help to explain and even solve management problems’?…
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Download file to see previous pages Therefore, one sees professionals including physicians, engineers, and architects pursuing their MBA degree. This is because it enables an individual to conduct any business and make business related decisions effectively (Stralser, 2004). In other words, the role of an MBA is to seek a leadership position and make decisions that are critical for the success of an organization. An MBA working at a leadership position plays a supervisory role in the organization and makes major decisions relating to management style, communication, downsizing or upsizing, geographical expanding, and the like. The problems faced by management can be broadly divided into four categories. First category consists of dealing with people, management, and policies. This includes problems and decisions relating to human resources, organizational behavior, leadership and team building, ethics and negotiation. The other category deals with decisions and problems relating to economics, finance and accounting, including accounting and finance, and international, national, and local economics. The problems can also belong to market and strategy, making an executive to deal with problems relating to marketing, strategy, competitive analysis, advertising, promotions, and communications. Finally, another set of management problems belongs to decisions relating to project management, management information systems, E-commerce, and quality management systems (Stralser, 2004). Decisions relating to any of the above core business functions have to be taken with extreme care and after a cautious analysis and understanding of the problem and its repercussions in detail. Therefore, research is necessary in order to make any management related decision effectively. Hence, the purpose of this research is to solve a management problem that would affect the organization and not conduct a research just for the sake of it. Therefore, it is important that the research so conducted is exhaustive and makes use of as much information as possible in order to present useful findings that would facilitate in making an effective decision. These major decisions are made on the basis of data that is collected by employees in the organization working at different levels. However, all this data that is collected is useless if the CEO or other leader of an organization cannot make a valued decision on the basis of that data. Furthermore, Dr. Wang told Amina to leave the storytelling to the business journalists. This is because business journalists are the people who find information, interpret it, and then analyze it. On the other hand, an MBA’s job is to find the problem and solve it with the help of data and information gathered by researchers and on the basis of his or her own knowledge and experience. Therefore, an MBA should possess great analytical, decision making, and problem solving skills. In Amina’s case, she did not approach her report from an MBA’s perspective, but rather from a researcher’s perspective or a journalist’s perspective, as Dr. Wang put it. This is because she went too deep in detailing about the industry that she had chosen for her report, which was not a requirement of the report. In other words, research was done in a way that it could not aid in making any useful decision. Furthermore, her conclusion was restating the findings. However, this is not how an MBA’s report should look like. An MBA’s report, or a report prepared for an executive, should be organized, clear, and ...Download file to see next pagesRead More
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