How does each key managerial dimension promote effective research? How does each dimension help meet desired results? What is the inherent value of these dimensions to a manager and the decision-making process? or,
You have received a business research study done by a consultant for a life insurance company. The study is a survey of customer satisfaction based on a sample of 600. You are asked to comment on its quality. What do you look for? or,
In your organization’s management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why? Theory can be impractical and not effective and it can also be effective and a practical approach to problems. For someone to take either side exclusively, they ignore the need for both facts and theory. Theories tend to be complex, be abstract, and involve multiple variables. Theories are the generalizations we make about variables and the relationships among them. We use these generalizations to make decisions and predict outcomes. Our ability to make rational decisions, as well as to develop scientific knowledge, is measured by the degree to which we combine fact and theory. A theory is a set of systematically interrelated concepts, definitions, and propositions that are advanced to explain and predict facts. In this sense, we have many theories and use them continually to explain or predict what goes on around us. To the degree that our theories are sound and fit the situation, we are successful in our explanations and predictions. Because there is uncertainty in decision making, it is important that all the known risks involved be scientifically evaluated. Helpful in this evaluation is probability theory. Business problems should not only analyze the facts of "real world experience" but should also construct theories about the...
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