Question

1. Explain the factors that should stimulate your interest when studying research methods

2. Explain the tiers of information – based decision makers

3. Describe the research process with business research.

4. List and describe the characteristics of the scientific method and the managerial dimensions.

Answer 1

1. Factors Stimulating Interest when Studying Research Methods

There are lots of factors that can stimulate one's interest when studying research methods. These are as follows.

Building Knowledge

Research is the best thing to increase your knowledge. You can seamlessly increase your knowledge by doing research.

Facilitating Learning

Research helps you learn not only the subject on which you are doing research but also about lots of other related topics that come across during your research.

Understand Various Issues

Research helps you understand various issues related to society and increases your sensitivity towards society.

Increase Public Awareness

Your public awareness automatically increases when you do research towards any cause.

Business Success

Research always helps in building blocks of success. A well in time research done can help you to do an accurate business forecasting and in turn, helps you get success in business.

Support Truth

Good research motivates you to always support the true outcomes of any cause for which you are doing research

Opportunities

Good research can help you get a lot of opportunities in terms of jobs, earnings, etc.

Read, Write, Analyze

Research improves your ability to read, write, and analyze.

Information Sharing

Good research always improves your knowledge about the subject, in turn, gives you the opportunity to share your valuable knowledge with others.

Mind Exercise

Doing research is the best exercise for having a sound mind.

2. Explain the tiers of information – based decision-makers

Decision making is divided into three levels of hierarchy. They are as follows

a. Strategic

b. Tactical

c. Operational

These are further explained.

a. Strategic

Strategic information-based decision making is done in order to achieve the goals of an organization. Strategic decisions are long-term in their impact and shape the direction of the business. They are generally made by senior managers.

b. Tactical

Tactical information-based decision making is done to apply the strategic decision. Tactical decisions help to implement the strategy and are usually made by middle management.

c. Operational

The operational decision relates to the day-to-day activities of the business. Operational information-based decision making is mainly routine and may be taken by middle or junior managers.

3. Research process with Business research.

Research: Research is a systematic and careful approach with a detailed study to accomplish the desired result.

Research Process

Identify

Develop Topic

Find Information.

Use Catalogs

Use Databases

Find Internet Resources.

Evaluate

Standardize your findings

4. List and describe the characteristics of the scientific method and the managerial dimensions.

a. Characteristics of the scientific method

The scientific method has a minimum of 5 characteristics. They are described as follows.

Empirical

The scientific method is empirical and relies on direct observation of the world. Scientific Methods always overrun any hypothetical theory or situations.

Replicable

The scientific experiments are replicable in nature and if one duplicate the process, then he gets the same results.

Provisional

Results obtained through the scientific method are always open to questions and debate.

Objective

Scientific methods always rely on the facts and not on theories, wishes, or desire.

Systematic

Scientific Methods are systematic i.e Scientific methods are carried on in a very carefully planned manner.

b. Characteristics of the managerial dimensions.

There are basically four characteristics of managerial dimensions. These are as follows.

a. Activities -

bureaucracy- Preformatted rules and regulations which an individual has to follow.

emergence- Complete independent decision making and full autonomy for the individual.

b..Decisions -

hierarchy-Decisions based on the position of an individual in an organization.

collective wisdom- A process in which everyone contributes to the decision making in the organization.

c.Objectives -

alignment- Common individual goals across the whole company. A clear sight to achieve the goal.

obliquity- Individual objective and motivation only to achieve the goal of a company.

d.Individual Motivation -

extrinsic- Motivational factors related to performance, pay, and promotions.

intrinsic- Assessing the basics that gives your employees happiness.