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2. Decision Support-The need to complete one or many exchanges with its prospective
customers, the members or constituents drives every organization. If organized for
retrieval, collectively these data elements constitute a decision support system
(DSS).Today, sophisticated managers have developed DSS where data can be
accessed in real time (as transactions are completed).Catalog provide mangers with the
knowledge of exactly what tactics generate a transaction from a particular individual
within their prospective and current customer databases, as well as just how profitable
each customer is to the company and an estimate of that customer’s lifetime value to the
company. Such managers have a distinct advantage in strategic and tactical planning
over those without real-time access to transactional data.
5. Tactics: Business research also contributes significantly to the design tactics. Those
specific timed activities that execute a strategy, Business research also can be used to
help a manager decide which of several tactics is likely to successfully execute the
desired strategy. In our earlier example, our restaurant manager might have changed
the menu (marketing tactic) to feature entrees that could be prepared faster (operations
tactic) and delivered to a table more quickly. The manager might also have instituted a
new training program (HR tactic) to implement a new zoned, table-coverage structure
(operations tactic), along with a new sales-incentive program (HR tactic) that
discouraged the wait staff from making small talk with patrons and rewarded teamwork
and efficiency.
Question Two- Steps in Research Process:
The second step: is necessary for research to undertake extensive literature survey.
What others have said about this topic, what theories have been addressed to it and
what are the flaws in the exciting research can be understood by reviewing the literature.
Systematic review of the related literature can show how another researcher handled a
similar problem. It can suggest a method of dealing with the problem. This evaluation
helps with research by comparing it with the efforts made by others.
3. Formulation of Hypothesis
4. Research Design:
Reliability and validity of the research requires the detailed strategy of how the research
will be conducted.
The designing is concerned with making controlled scientific inquiry.
Research design provides the blueprint for the research. It limits boundaries of design,
offers a guide that directs the research action which reduces time and cost.
The research design differs according to the research purpose research need to prepare
the practical research design.
5. Selecting Sample:
The fifth step in research is selecting a sample.
A sample is any number of persons, units or objects selected to represent the “universe”
or ‘population”’ according to some rule or plan.
The research is expected to draw a sample from the universe in such a manner that the
findings based on it will correspond closely to those that would have been obtained from
the study of universe.
The research must select the sample in such a way that the selected sample is
sufficiently representative of the universe. Sample is part of a whole, taken to show what
the rest is like.
6.Data Collection:
The sixth step is actual collection of facts and information in accordance with the
research design.
Having drawn an adequate sample from the universe, the research proceeds to
administer the measuring instruments or tools of the data collection on the items in the
sample.
Research must ensure that the data is reliable and free from bias.
Collection involves the basic definitions for the concepts to be investigated, specific field
procedures and design of instruments for recording the actual data. A vast amount of
historical as well as current statistics, ranging from various census publications to
special purpose survey of particular industries and products are already through
government publications. Example: Each district of the data of India has a ‘District
Statistical Office’. Every year this office publishes a board survey report of concerned
district. This report is called;’ Socio-Economic Survey of the District’. A wide range of
Statistics is available in this survey report.
7. Data Analysis:
9. Interpretation Result:
The research exercise is not complete till such time as the report is published. A
research report clearly states the problem, the hypothesis, the extraction of data, the
method used, The measurement, the interpretation, the conclusions and then finally the
logical result from all this systematic activity.
The diagram below shows the steps of Research:
Reference Page
Book:
Author:
Publication:
Unit: 1
Page no:1.10,1.11,1.12,1.22,1.23,1.24
Website : https://www.google.com/search,