“The obligations of managers are to specify their problems and provide researchers with
adequate background information and access to company information gatekeepers. It is
usually more effective if managers state their problems in terms of the decision choices
they must make rather than specify the information they think they need. If this is done,
both manager and researcher can jointly decide what information is needed.”
The data obtained by USA World Bank did not reflect an appropriate population to be evaluated. Mary Monroe, VP of New Product Development let the outside firm Best Market Research conduct feasibility studies. With closer evaluation, it was evident that Mary Monroe did not provide Best Market Research with the information they needed to conduct a study that would fully benefit the needs of USA World Bank.
“An intuitive answer to this question is that the tool should be an accurate counter or indicator of what we are interested in measuring. In addition, it should be easy and efficient to use. There are three
major criteria for evaluating a measurement tool: validity, reliability, and practicality.
• Validity refers to the extent to which a test measures what we actually wish to
• Reliability has to do with the accuracy and precision of a measurement procedure.
• Practicality is concerned with a wide range of factors of economy, convenience,
The study of research methods provides you with the knowledge and skills you
need to solve the problems and meet the challenges of a fast-paced decision-making
environment. We define business research as a systematic inquiry whose objective is
to provide information to solve managerial problems.”
USA World Bank needs good sound research with applicable data to guide them in making a pivotal business decision. The future success of USA World Bank is heavily influenced by the decisions they make regarding future business endeavors. The availability of sound...