Business Research Methods by Donald Cooper - Book Report/Review Example

Summary of The Chapters: Business Research Methods by Donald Cooper, Donald R. Cooper & Pamela S. Schindler Name Institution Date Chapter 1: Research in Business The 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 thinking The 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. After the report has been clearly written, the researcher should then come up with a hypothesis aimed at coming up with the most probable cause of the problem. The hypothesis should address the question of the possible cause as well as the reliability and consistency. The causes should also be classified with the ones that are least likely to affect the outcome being identified. The best choice should then be identified for the purpose of explaining the possible cause of the problem. The choice should then be tested for the purpose of ensuring that the problem is fully addressed. The testing methods vary from one research to the other. However, for business research, it is in order to use collected data as well as observations from the research. The hypothesis should be subjected to various tests for the purpose of ensuring that it solves the problem scientifically. The scientific method of solving management problems is thus considered as efficient. However due to human errors during the research process, it may lead to errors. It is thus important to ensure that the data collected during the process ids accurate and appropriate methods of analysis is used to deal with the raw data. To avoid any chances of errors it is important to ensure that no data is ignored and the hypothesis should not be assumed to be the answer unless it is tested. Chapter 3: The research process According to the chapter business research process mainly involves the gathering of data and using it for the purpose of making business decisions. The business research process is quite involving and it entails a detailed study of the market, the customers and the company before making a sound decision. The managers are usually interested in determining the rate of competition and how the customers view its products in the market. The business research always starts with the study of the general market to determine the existing opportunities for the company. Data collection is an important aspect of the business research process. The data is usually collected through various means. The main sources of data can be classified as both secondary and primary. The primary sources mainly involve the customer satisfaction survey which is conducted for the purpose of determining the rate at which the products of the company are consumed. The secondary sources on the other hand mainly involve the use of the outside agencies. The primary research can be used by the company for the purpose of establishing the consumer preferences. After the data is collected, the analysis is then done for the purpose of making decisions that bests suits the company and the clients. The decision making process is quite critical and thus I demands that the data analysis be as accurate as possible. At the analysis stage, the business research also entails testing of the data using different statistical models. The models are mainly mathematical and the testing is mainly for the purpose of coming up with the best solution and recommendation. Any model should not be implemented before the testing process. In some instances, the primary and secondary sources of data may not be available during the research. It is thus important to use the assumptive methodologies for the purpose of filing the data gaps. The methodologies mainly include statistical techniques and proxies. However, any assumptions made should be indicated to avoid any future problems during the research. Conclusions are usually made and the best recommendation is usually adopted during the research process. However, the data collection process is usually continuous due to the changing nature of the business environment. Chapter 4: The research proposal The research proposal mainly contains al the aspects of the research plan and it is usually presented to the management for the purpose of adoption. The research proposal always answers all the questions about the research including the details of how the research will be conducted. The business research proposal should also indicate the benefits of the research to the business organization in terms of finances or any other meaningful benefits to the business organization. The management has to scrutinize the research proposal carefully before it is approved. Identification of the problem is usually the main component of the business research. This is then followed by the proposal of how the problem will be solved and the methods of collecting data that will be used by the researchers. The proposal also shows the cost of the research and how it is to benefit the organization. The cost of the business research contained in the business proposal should however be reasonable enough for it to be approved by the management. Business research proposal should also indicate how the data analyzed will be used to make decisions and recommend possible solutions to problems. The methods of data communication to the management should also be indicated clearly in the business proposal. The plans and schedules for the research are also major components that are supposed to be indicated in the research proposal. This plays an important part in determining the amount of time that will be taken to undertake the business research. Problems can be noted at the research proposals which include unreasonable data collection and analysis methods. These may lead to errors if the proposal is adopted. The proposal may be rejected incase it has poor statements, unrealistic budgets and a poor timeline. The structure of the business research proposal is also important. It must have a clear title of the research process, an abstract and an introduction. The main body of the research should include the literature review and the methods of carrying out the research process. A conclusion should also be present in the research proposal. Diagrams and flow charts should also be included in the research proposal for the purpose of aiding explanations. Chapter 5: Ethics in business research Ethics in the business research is mainly for the purpose of ensuring that the research is honest and it does not harm anyone. Business research benchmarks are available for the purpose of ensuring that the research is ethical. The benchmarks mainly include standards that the researchers have to use against their work for the purpose of maintaining the ethics during the research process. The main goal of ethical business research is building trust in business. This requires honesty and integrity during the research process. Responsibility is considered as a core value of the ethical business research. Responsibility ensures that the research does not harm anyone and the details of the research are true and honest. This is considering that most people also relay on the business research for the purpose of making decisions. Transparency is also required during the documentation and publishing of the business research. Transparency plays am important part in building the trust and honesty in the process. Research deviations are usually considered as unethical. The deviations may include the failure of the researcher to cite the sources of information while using the works of a different person. Making unauthorized copies of he research and also the failure to disclose the financial interests of the company is also considered unethical. Any research misconduct is also considered illegal and unethical. This is considering that the research misconduct is intentional and it is not made by mistake by the researcher. It is also important to note that unethical research may lead to damages and fines which may be quite costly. It is thus important for the researcher to ensure that any chances of using unethical means during the business research are eliminated. A professional business researcher is also required to report any unethical research should they note it during the research process. Chapter 6: Design Strategies A design strategy for the research is very critical and it determines the outcome of the research. A procedure has to be followed when designing the best research strategy. The first step of the design strategy involves specifying the objectives of the business research. This can be written in a few lines or in a statement form. The research should then be categorized into a specific area which may include product development or product design. Relevant literature should then be obtained for the research process in order to come up with the best business research. An appropriate method of data analysis should also be designed at this stage to ensure that the data is well handled. The research steps should then be specified at this stage for the purpose of smoothening the process and ensuring that it works. This may involve creating a review of prior research. The review should mainly ask questions about the research being conducted. This can be done in a detailed form or a point form. The methods of data collection should then be planed for the purpose of meeting the stated objectives of the research process. The method of collecting data may involve the use of interviews or use of existing sources of data. A proper means should be devised depending on the research objectives. A plan for the analysis of the data should then be devised. This may involve the used of statistical methods or mathematical methods to analyze the data appropriately. It is important to note that this stage is very crucial s the method of data analysis may determine the accuracy and the outcome of the research process. A plan of how the results and conclusions will be made should then be determined. The report should have clear steps of how the analysis leads to a particular finding. Although it may be difficult to predict the findings at this stage, it is important to indicate what type of finding is expected in the business research. The research design is thus an important aspect of the research and it ensures that al the processes are well planned and followed. Reference Donald Cooper, Donald R. Cooper & Pamela S. Schindler (2010). Business Research Methods. McGraw-Hill/Irwin Series in Operations and Decision Sciences. Edition11, McGraw-Hill Companies, Incorporated. Read More