Business Research Methods, Part I
Team B’s objective is to select a business research method that will enable the team to draw on pertinent information in a cost-effective manner. Team B will use Hostess Brand Company closing dilemma to illustrate the importance of selecting the appropriate business research method. Then indicate a research question arising from Hostess dilemma. Next determine an appropriate research design, describe its characteristics, and last identifying a sample design to use for collecting data. Research Question Arising from Hostess Brand Dilemma
Hostess recently underwent bankruptcy processes closing the doors of the historic iconic bakery. The business in recent times began to struggle because of a shrinking share of the bake goods market, and union requirements that slowly strangled the business to the point of closure (Kaplan, 2012). A management question deriving from this situation is “What effects did the union have on the Hostess decision to close down?” When studying this question and the overarching situation a realization of the question as extremely general becomes noted. Refining the question may transform into “What would the union need to agree upon to keep Hostess open?” However, refining this question a final time into a detailed question it develops into “Could Hostess combines union health and benefit plans, labor needs, and negotiated wage increases to promote business survival?” Exploratory Research Design
“The task of research is largely to (1) determine the nature of the evidence needed to confirm or reject hypotheses and (2) design methods by which to discover and measure this other evidence” (Cooper & Schindler, 2011, p. 93 ). To come to a valid conclusion exploratory research is the best approach to take during the initial research stage. Team B will employ the exploratory research method to determine the subsequent direction and the appropriate research question. Team B’s initial question is “Could...
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