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You are about to begin your study of business research, both the process and the toolsneeded to reduce risk in managerial decision making. Business research, as we use theterm in this text, is a systematic inquiry that provides information to guide managerial decisions.More specifically, it is a process of planning, acquiring, analyzing, and disseminatingrelevant data, information, and insights to decision makers in ways that mobilize theorganization to take appropriate actions that, in turn, maximize business performance. Avariety of different types of research projects are grouped under the label “business research,”and we will explore them all later in this chapter.Assume for the moment that you are the manager of your favorite full-service restaurant.You are experiencing significant turnover in your waiter/waitress pool, and somelong-time customers have commented that the friendly atmosphere, which has historicallydrawn them to your door, is changing. Where will you begin in trying to solve this problem?Is this a problem for which business research should be used?Perhaps you are the head of your state’s department of transportation, charged with determiningwhich roads and bridges will be resurfaced or replaced in the next fiscal year.Usually you would look at the roads and bridges with the most traffic in combination withthose representing the biggest economic disaster if closed. However, the state’s managerof public information has expressed concern about the potential for public outcry if work
is once again directed to more affluent regions of the state. The manager suggests using
business research to assist in making your decision, as the decision is one with numerous
operational, financial, and public relations ramifications. Should you authorize the recommended
business research?
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