Bus642 - Week 1 Essay - 723 Words

Week One Exercises Complete Discussion Questions 1, 2, and 5 on page 22. 1. What is business research? Why should there be any question about the definition of research? Business research is a methodical process in which a company or manager recognizes a need for data in order to make effective business making decisions. â€Å"More specifically, it is a process of planning, acquiring, analyzing, and Disseminating relevant data, information, and insights to decisions makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize performance† (Cooper and Schindler, 2011, p. 10). Questions occur about the definition of research because it has been said that â€Å"every business issue†¦show more content†¦Its focuses on primarily generating new ideas, principles, and theories which do not typically yield immediate benefits (Guimaraes, n.d., p. 24). In the same context above, a question that would guide pure research is: â€Å"What influence does commission based compensation plans have on employee motivation?† 5. A sales force manager needs to have information in order to decide whether to create a custom motivation program or purchase one offered by a consulting firm. What are the dilemmas the manager faces in selecting either of these alternatives? First, the manager should ask, â€Å"Is this what I really need?† The nature of the problem may change during the decision-making process, as either the situation changes or the manager’s insights to the situation change (Bianco, n.d.). Managers can improve the chances of asking the right questions by laying out clear strategies, goals, and tactics. In addition, in any decision-making situation, managers must identify alternative courses of action and weigh the value of each alternative against its cost. In this case, the manager faces the following dilemmas in selecting either a custom program or purchasing one: 1) Will the payoff or rate of return be worth the investment? 2) Will the benefits gained from the program improve employee motivation enough to warrant the expenditure? 3) Is the expenditure the best use of available