Grc 605 Mini Project - Research

Topics: Scientific method, Research, Decision making Pages: 5 (1407 words) Published: January 22, 2013
Mini Project One
Gale L. Goodman-Floyd
GRC 605; Business Research Methodology & Quantitative Statistics California InterContinental University
Dr. Peter Nanopoulos

The nature of business breed conflicts, obstacles and problems to discover, study and overcome. Every business has problems. They may be small or big problems in small businesses or global corporations, but they are still problems and all require attention. These businesses must address problems by identifying, analyzing and ultimately establishing their own research-based decisions and pursue actions for solutions to the problems. Business supervisors, managers and virtually all realms of leadership are constantly studying and analyzing such business issues. Organizational leadership is intimately involved in different forms of Business Research while they are addressing issues in their decision making processes towards their own business environment for the good of the company. The purpose of this paper is to apply a critical evaluation of the California InterContinental University (CalU) GRC 605, Mini Project for week one in the Business Research Methodology & Quantitative Statistics course (CalU, 2012). This paper will address the importance of business managers embracing the concept that research initiatives are vital to achieve and maintain a competitive business advantage. Discussion in this paper includes general and specific definitions of good and bad forms or research. Finally, this paper will explain the Research Process and provide relevant examples. Explain the Importance of Research

The saying goes that those who ignore history are doomed to repeat it. The business leadership may be highly educated and accomplished in their specific industry. However, failure to keep up with business research in the industry they are operating in may result in missed opportunities to increase or even maintain optimum company revenue. Knowledge of business research resources allows business managers to be aware of successes and failures in their industry and can prevent making the same mistakes and enhance the propensity for success. Trends, processes, failures, successes and best practices in their business arena are all salient business insights research may provide. Savvy business managers have a healthy understanding of the virtues of business research and the Research Methods. Training in business research and research methods helps managers become cognizant of the complex nature of business situations. Bougie and Sekaran (2009) suggest the value of research training also enables manager to see through and reject overly simplistic answers to complex issues. Successful business managers study the pros and cons of all potential courses of action before making decisions. They will pursue targeted reviews of other Like-Industry Research findings, which assist these business Decision Makers (DM) in determining if research other than their own Primary findings may be of value as a form of positive or negative implementation for an internal evaluation process and business strategy. Accomplished DMs recognize the importance of Knowledge of Research tools and Methodology in the decision making process. Therefore, successful business DMs pursue the knowledge of research to better control, predict and understand events in their environments to make informed management decisions (Bougie & Sekaran, 2009). Define “Good” Research

Bougie & Sekaran (2009) emphasize the business industry recognized Good Research methods as those, which focus DMs on the multitude of variables in a business problem. Good research follows a focal point on the multi-causality and multi-finality of a given business event to assist in avoiding uninformed, simplistic thoughts of one variable causing another. Successful DMs acknowledge professional research project results originating from their own organizations primary research...

References: Bougie, R., Sekaran, U. (2009). Research and markets: Research Methods for Business - A skill Building Approach. (5th Ed). John Wiley & sons Ltd Publishing.
California InterContinental University. (2010, Jun 16). Study Guide, GRC 605, Research and Markets: Research Methods for Business – A Skill Building Approach, 5th ed.
Gorelick, D. (1993). Good Research has Obvious – and Not So Obvious Benefits. Marking News, 27(19), 16-16. Retrieved 14 January 2013 from
Zimmerman, Kim Ann. "What is a Scientific Hypothesis? | Definition of Hypothesis | LiveScience ." Science News – Science Articles and Current Events | LiveScience . Live Sciences, 10 July 2012. Web. 17 Jan. 2013. <>.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Finance 605 mini projects
  • research Essay
  • Research Project Essay
  • Business Research Project Part 5: Research Report and Presentation Essay
  • Project Management Research Paper
  • Research Project Essay
  • Research Project Essay
  • Research Project Essay

Become a StudyMode Member

Sign Up - It's Free