Assignment 2 BRM

Assignment: 2
Name: Talha Daud
Roll No: 38 (BBA 7th M1)
Answers:
Q.1 Is it possible to make sound managerial decisions without business research? What
advantages does research offer to the decision maker over seat-of-the-pants decision
making?
No, it is not possible to make sound managerial decisions consistently without business research.
It might be possible that one or two decisions might go well even without research but
consistently achieving that is not possible. The managers cannot go on their hunch or belief and
assumptions to make key decisions. The decisions need to be made on scientific evidence and
information collected.
Q.2 Define a marketing orientation and a product orientation. Under which strategic
orientation is there a greater need for business research?
A business with a marketing orientation is essentially led by the needs of its customers.
Marketing research outcomes determine how much of a product is produced--old products may
be discontinued and new products invented based on the needs or desires of consumers. In
contrast, a production-oriented company does not pay close attention to the needs of its
customers and is focused primarily on making the maximum number of products.
And under marketing orientation strategy business research is mostly required, because it is
customer based and only by doing research on your customers you can apply this strategy.
Research addressing consumer desires, beliefs, and attitudes become essential.
Q.3 Define business research and describe its task.
We can define business research as an organized, systematic, data-based, critical, objective,

inquiry or investigation into a specific problem, undertaken with the purpose of finding answers
or solutions to it. Research also provides the necessary information that guide managers to make
informed decisions to successfully deal with problems.
Types of business research:
1) Applied research: It belongs to solve the current problem faced by the manager in work
setting, demanding a timely solution.
2) Fundamental research: This belongs to generate a body of knowledge by trying to
comprehend how certain problems that occur in organizations can be solved.
Tasks/Functions of business research: Business research is the gathering of information to help a
business leader make a decision about the progress and path for the company. Executives look at
an array of public information, news stories and industry data as well as internal metrics to
determine if product development, marketing strategies and other growth avenues can succeed.
Business research takes historical data and existing reports, and then makes projections based on
designed strategies.
Q.4 Which of the following organizations are likely to use business research? Why? How?
Manufacturer of breakfast cereals and a company that publishes business textbooks will do
business research because they are dealing in direct business and in cereal manufacturing
company needs the data of its customers so it can manufacture the cereals according to that & in
case of business textbooks, of course the data in the textbooks will be have the information
which is need to be correct so it can guide students with perfect facts.
Others, Manufacturer of nuts, bolts, and other fasteners, SECP (The Securities and Exchange
Commission of Pakistan), a hospital & a company that publishes business textbooks will do
simple research.
Q.5 An automobile manufacturer is conducting research in an attempt to predict the type

of car design consumers will desire in the year 2020. Is this basic or applied research?
Explain.
It is fundamental/basic research because in applied research you have to do timely research on

current situations. Fundamental research has the scientific research aim to improve scientific
theories for improved understanding or prediction of natural or other phenomena.
Q.6 Critically comment on the following statements:
a. Managers are paid to take chances with decisions. Researchers are paid to reduce the risk of
making those decisions.
Yes from my side I think it is true. As this statement illustrates a role that business research
plays. A researcher’s job is to provide information to reduce uncertainty, but ultimately the
manager is responsible. Business managers must ultimately make the decision, and they take the
credit or blame for success or failure. Business managers may be risking a lot of money, and it
may be well worth it to spend a little bit of money on business research to learn if the big risk is
worth taking.
b. A business strategy can be no better than the information on which it is formulated.
Managers need timely, accurate, and pertinent information to make decisions to identify and
evaluate opportunities, diagnose and assess them, select and implement a course of action, and
evaluate that course of action. With the wrong information, a strategic plan may be destined to
fail no matter how properly it is executed.
c. The purpose of research is to solve business problems.
The purpose of business research is to reduce uncertainty and to provide information to allow
managers to make decisions. Although the information provided might help the manager make
the right decision, it does not solve business problems in and of itself. Although business
research may not provide all the information that would be desirable before making the decision,
it can provide a framework within which better decisions can be made.
Q7. List the conditions that help a researcher decide when research should or should not be
conducted.
The determination of the need for research centers on
(1) Time constraints
(2) The availability of data
(3) The nature of the decision to be made
(4) The value of the research information in relation to costs
Q.8 How do you believe the Internet has facilitated research? Try to use the Internet to
find the total annual sales for Starbucks, for DuPont, and for KFC.
The Internet has made it possible to collect data for lower costs than in the past. Electronic
communications are usually less costly than postal mail and certainly less costly than a face to
face interview and cost about the same amount no matter how far a respondent is from a
researcher.
Starbucks annual sales/revenue 2019 is 26.5B Dollars.
DuPont annual sales/revenue 2019 is 21.51B Dollars.
KFC annual sales/revenue 2019 is 26.2B Dollars.
Q.9 Discuss what research means to you and describe how you, as a manager, might apply
the knowledge gained about research.
For me research is about finding solutions of problems by thorough study and analysis. This
process of research is being used from centuries and played helpful role to modernize the facts
and knowledge in changing times. It plays a very crucial role to provide people fact based
information so they can make best decisions.
I as a manager will make decisions when I have the correct facts and knowledge about that
problem which comes from research. I should have the market research, how consumer/customer
or supplier in a market works. You can say my decisions as a manager will be research biased.
So I can be confident about my decisions. By having research knowledge you are aware of the
facts or you can say the trend/feedback of people who are your customers as well or can be. So
you decisions will affect them, it would be better to have the best research knowledge to make
best decisions.

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Assignment: 2

Name: Talha Daud

Roll No: 38 (BBA 7th M1)

Q.3 Define business research and describe its task.

We can define business research as an organized, systematic, data-based, critical, objective,

Types of business research:

Q.5 An automobile manufacturer is conducting research in an attempt to predict the type

It is fundamental/basic research because in applied research you have to do timely research on

Q.6 Critically comment on the following statements:

b. A business strategy can be no better than the information on which it is formulated.

c. The purpose of research is to solve business problems.

(1) Time constraints

(2) The availability of data

(3) The nature of the decision to be made

(4) The value of the research information in relation to costs

Starbucks annual sales/revenue 2019 is 26.5B Dollars.

DuPont annual sales/revenue 2019 is 21.51B Dollars.

KFC annual sales/revenue 2019 is 26.2B Dollars.

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