BUS3059 Week 1 Discussion

The Basic Research Process Six Stages of Conducting Research Basic Research Process The basic research process consists of six stages. Stage 1: Determining the Research Question The research question should be determined. There may be an issue that requires the company to conduct research. For example, the company’s costs may have risen over the past year and the reason for this may be unclear. Or the company’s sales may have fallen over three months, but its competitor’s sales may have increased. From the perspective of management, in such a case, a management question should be crafted, restating the dilemma of management in a question format. From a management question, a research question can be determined. A research question can be thought of as an umbrella question that provides overall direction and objective of the research. Stage 2: Contemplating the Research The required research should be considered. Adequate resources should be allocated to conduct the research. The costs for conducting the research are likely to be equally distributed across all phases of the research: planning; gathering data; and analyzing, interpreting, and reporting the information found. Management needs to determine whether the benefits of a research study outweigh its costs. Finally, a research proposal in a written form needs to be created. Stage 3: Formally Planning the Research Project The research project must be formally planned. A research design strategy needs to be built. A research design is an overview of the research objectives and also provides answers to various research-related questions. A variety of issues need to be considered for formulating the research design. For example, if a survey is to be conducted, you need to decide whether the survey will be conducted on phone, in person, or over the Internet. The target population should be identified. A pilot test should be conducted to check for any flaws in the design process. Stage 4: Collecting Data Data related to the research should be collected and prepared. Observations should be made. Data should then be edited and coded. Stage 5: Analyzing and Interpreting Data

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Data should be analyzed and interpreted. A researcher should review the data; identify patterns, if any; and apply statistical models to the data. Stage 6: Creating a Report A research report should be created, and management should make a decision based on the information provided in the research report. For example, the research report may recommend that the company should offer an additional product line. Management can use the information and decide if that is the best time to offer an additional product line or delay it until, say, the economy is stronger. © 2017 South University

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