Decision-making Process ..........

he Decision-making Process Associated with the Development and Implementation of a Strategy

Identifying problems and opportunities
Diagnosis and assessment
Selecting and implementing a course of action
Evaluating the course of action
Evaluation Research
Evaluation research is the formal, objective measurement and appraisal of the extent to which a given activity, project, or program has achieved its objectives.
Performance-monitoring Research
Research that regularly provides feedback for evaluation and control
Indicates things are or are not going as planned
Research may be required to explain why something “went wrong”
Total Quality Management (TQM)
A  business philosophy that embodies the belief  that the management process must focus on integrating customer-driven quality throughout the organization.
TQM
Stresses continuous improvement of product quality and service.
Managers improve durability and enhance features as the product ages.
Managers strive to improve delivery and other services to keep their companies competitive
Determining When to Conduct Business Research
Time constraints
Availability of data
Nature of the decision
Benefits versus costs
Determining When to Conduct Business Research
Value versus Costs
Potential Value of a Business Research Effort Should Exceed Its Estimated Costs
Value Should Exceed Estimated Costs
Major Topics for Research in Business
General Business Conditions and Corporate Research
Financial and Accounting Research
Management and Organizational Behavior Research
Sales and Marketing Research
Information Systems Research
Corporate Responsibility Research
Cross-functional Teams
Cross-functional teams are composed of individuals from various organizational departments such as engineering, production, finance, and marketing who share a common purpose.
Business Research in the 21st Century
Increased globalization
Growth of the Internet and other information technologies

Global Research
Business Research is increasingly global
Market knowledge is essential
A.C. Nielsen - more that 67% international business
Global Business Research
General information about country - economic conditions and political climate
Cultural and consumer factors
Market and competitive conditions - demand estimation

The Internet Is Transforming Society
Time is collapsing.
Distance is no longer an obstacle.
Crossing oceans is only a mouse click away.
People are connected 24 hours a day, seven days a week.
"Instantaneous" has a new meaning.
Internet Research
Seeking facts and figures about an issue
Surveys on Web sites