Deck 1: Business Research for the Twenty-First Century

Question 1

Business research is _____.

A) readily available information compiled and sold by various companies
B) necessary for good decision making
C) a discerning pursuit of the truth
D) an electronic inventory of organizational knowledge
E) a contract between the researcher and the client

Answer 1

C

Question 2

Which is NOT a factor that has changed the way research is done?

A) ability to replicate results
B) rise in computer literacy
C) industrial revolution
D) advances in transportation
E) expansion of commerce worldwide

Answer 2

A

Question 3

As researchers, business researchers generally fall more in line with _____.

A) biologists
B) chemists
C) physical scientists
D) social scientists
E) physicians

Answer 3

D

Question 4

Which of the following pursue the truth about business phenomena?

A) business project managers
B) business consultants
C) business researchers
D) sociologists
E) CEOs

Question 5

________ is a truth-seeking function that gathers, analyzes, interprets and reports information so that business decision makers become more effective.

A) Organizational learning
B) Networking
C) Translational equivalence
D) Business research
E) Research

Question 6

All of the following are key elements of business research EXCEPT _____.

A) business research is broad
B) business research can be formal
C) business research can be informal
D) the best research is expensive
E) good research is replicable

Question 7

_________ are performed to address a single issue at a specific point in time.

A) Off-the-shelf projects
B) In-house research projects
C) One-shot projects
D) Ongoing projects
E) Basic business research projects

Question 8

A research project is said to be ______ if another researcher could produce the same results using the identical procedures employed by the original researcher.

A) ongoing
B) formal
C) applied
D) replicable
E) basic

Question 9

_________ is motivated by an attempt to solve a particular problem faced by a particular organization.

A) Networking
B) Basic business research
C) Data mining
D) Applied business research
E) Replication

Question 10

Annie wants to research whether or not psychological profiles can be used to reduce turnover in his company. Annie is conducting _____.

A) informal research
B) risk management research
C) applied business research
D) basic business research
E) focused research

Question 11

__________ is motivated by a desire to better understand some business phenomenon as it applies to an entire industry or business in general.

A) Networking
B) Applied business research
C) Basic business research
D) Data mining
E) Replication

Question 12

Davon wants to research whether or not job stress affects the job performance and satisfaction of male and female employees equally. Davon is conducting _____.

A) applied business research
B) informal research
C) basic business research
D) risky research
E) none of the above

Question 13

Marketing managers might be interested in researching all of the following EXCEPT _____.

A) new product development
B) manufacturing resource optimization
C) brand image
D) customer satisfaction
E) product positioning

Question 14

Which function of business performs research?

A) marketing
B) manufacturing/operations
C) finance
D) accounting
E) all of the above

Question 15

_________ exchange information or information-related services, such as distribution and storage, for a fee.

A) Governments
B) Research proposals
C) In-house researchers
D) Data brokers
E) Information-only businesses

Question 16

Technological advances have brought many business opportunities for storing and distributing information or providing information-related services. For example, Apple's iCloud is an online storage system provider that allows users to store, share and retrieve their data from different devices. Other companies offer cloud computing or access to electronic databases compiled from several sources of data. These are all examples of _____.

A) data-outsourcers
B) data warehouses
C) online tracking companies
D) external online data companies
E) information-only businesses

Question 17

__________ describes making offers relevant to the individual customer's preferences.

A) Individual customization
B) Personalized marketing
C) Preferential marketing
D) Good salesmanship
E) Customized marketing

Question 18

All of the following are important trends impacting business research EXCEPT _____.

A) expanding market freedom
B) growth of nonprofits
C) internationalization
D) relationship marketing
E) information revolution

Question 19

__________ means text can be translated from one language to another, then back to the original language with no distortion in meaning.

A) Translational equivalence
B) Shared meaning
C) Syntax similarity
D) Unequivocal equivalence
E) Global equivalence

Question 20

An Atlanta-based researcher developed a questionnaire for a multinational firm that was then translated into ten other languages. Which of the following must this research be concerned with when using this questionnaire?

A) syntax similarity
B) unequivocal equivalence
C) global equivalence
D) translational equivalence
E) global interpretation

Question 21

________ seeks to identify mutually beneficial exchanges where both the firm and the stakeholder maximize value.

A) Customer commitment
B) Networking
C) An intranet
D) Personalized marketing
E) Customer share

Question 22

_______ is described as the average tenure of an employee and suggests a replacement rate needed to maintain production.

A) Stickiness
B) Churn
C) Organizational commitment
D) Employee commitment
E) Turnover

Question 23

Chief Marketing Officers (CMOs) of major corporations stay at that job an average of 23 months. Which of the following term reflects this average tenure of this type of employee?

A) organizational churn
B) stickiness
C) commitment
D) turnover
E) employee churn

Question 24

The degree to which a\n employee identifies with the goals and values of a firm is known as _____.

A) stickiness
B) networking
C) organizational commitment
D) churn
E) turnover

Question 25

The proportion of resources a customer spends with one firm in a given competitor set is referred to as _____.

A) customer churn rate
B) customer share
C) market share
D) competitive share
E) customer commitment ratio

Question 26

If Jay goes to Wendy's Hamburgers four out of ten times when he eats fast-food, he has a _____ of about 40 percent.

A) customer churn rate
B) customer turnover rate
C) customer share
D) customer commitment factor
E) organizational commitment factor

Question 27

The annual turnover rate of customers is known as ______.

A) customer commitment
B) customer share
C) customer churn
D) organizational commitment
E) relationship marketing

Question 28

Magazines aggressively encourage subscribers to renew their subscriptions. Sometimes they send incentives to renew for one or more years just a few months after the original subscription begins. That's because a high percentage of subscribers do not renew their subscriptions once they expire, meaning this type of product/service has high _____.

A) customer share
B) customer churn
C) customer apathy
D) customer commitment
E) customer dissatisfaction

Question 29

________ is the degree to which customers identify with the values of a firm.

A) Customer commitment
B) Customer churn
C) Organizational commitment
D) Relationship marketing
E) Translational equivalence

Question 30

Chick-fil-a, the fast-food restaurant, is not open on Sundays due to religious reasons. Elizabeth likes that about them because she also believes that this day is sacred and should be spent with family. Whenever she is in the mall on a Saturday, she eats at Chick-fil-a for that very reason. Elizabeth is exhibiting a strong _____ toward this company.

A) customer churn
B) organizational commitment
C) customer commitment
D) relationship commitment
E) customer equivalence

Question 31

All of the following are information technology developments having a great impact on business decision-making and research EXCEPT _____.

A) electronic communication
B) networking
C) internationalization
D) data warehouses
E) organizational learning

Question 32

Which of the following refers to computers connected to one another through various servers?

A) electronic communicating
B) intraneting
C) data mining
D) networking
E) electronic mediation

Question 33

A(n) ________ is an Internet-like network that links computers internally within an organization.

A) data mine
B) data warehouse
C) organizational memory
D) intranet
E) mainframe

Question 34

Company information is now stored and cataloged in an electronic format in _____.

A) data clouds
B) data warehouses
C) electronic storage banks
D) card readers
E) VoIP databanks

Question 35

_________ is readily available information compiled and sold by companies.

A) Internal data
B) External data
C) One-shot data
D) Off-the-shelf data
E) SPSS

Question 36

_________ can create, within a few minutes, numerous maps that overlay information from census data inventories on top of satellite photo imagery.

A) Algorithms
B) Google Earth
C) Automatic interaction detection (AID)
D) Global positioning systems (GPS)
E) Geographic information systems (GIS)

Question 37

PRIZM is a technique that overlays geographic data with demographic and lifestyle data and provides companies with useful information about customers based on where they live. PRIZM is an example of a(n) _____.

A) geographic information system (GIS)
B) automatic interaction detection system (AID)
C) geographic positioning system (GPS)
D) satellite system
E) algorithmic system

Question 38

Many organizations have developed formal systems aimed at recording all important events in a database. The resulting database is an electronic representation of _____.

A) organizational commitment
B) organizational learning
C) organizational memory
D) personalized marketing
E) networking

Question 39

________ is the internalization of both external and internal information to be used as an input to decision-making.

A) Data mining
B) Data warehousing
C) Knowledge discovery
D) Organizational learning
E) Organizational memory

Question 40

________ refers to electronically mining data warehouses for information identifying ways to improve organizational performance.

A) Data digging
B) Data mining
C) Knowledge discovery
D) Organizational learning
E) Organizational memory

Question 41

_____ are used to automatically analyze potential patterns in data stored in an electronic warehouse.

A) Algorithms
B) Global positioning systems (GPS)
C) Interactive detection methods
D) knowledge discovery (KDD) systems
E) SMART systems

Question 42

The "knowledge discovery in databases," or KDD, process involves all of the following steps EXCEPT _____.

A) establishing access to relevant data
B) developing a report of relationships that may affect firm performance
C) developing and using rules for selecting interesting relationships
D) determining if primary or secondary data will be used
E) selecting the set of events (data) to be analyzed

Question 43

What is the first step in the "knowledge discovery in databases," or KDD, process?

A) cleaning the data so it is understood by the algorithm
B) developing and using rules for selecting interesting relationships
C) establishing access to relevant data
D) setting objectives of the research
E) selecting the set of events (data) to be analyzed

Question 44

Global Positioning Satellite (GPS) devices _____.

A) conduct electronic mining of data for information
B) can create, within a few minutes, numerous maps that overlay information from census data inventories on top of satellite photo imagery
C) can analyze potential relationships between literally thousands of variables in a matter of seconds
D) can track real-time movement of objects
E) can dramatically reduce cycle time

Question 45

_________ is a field built on data mining of large volumes of interconnected data to investigate the safety of drugs after they come to market.

A) Pharmacovigilance
B) Automatic Interaction Detection (AID)
C) Drug Interaction Systems (DIS)
D) Pharmerging
E) Occupational learning

Question 46

Why would a company hire an outside research consultant instead of conducting the research in-house?

A) An outside research consultant may have special expertise or capabilities.
B) An outside research consultant can usually do the research for less money than it would cost to do it in-house.
C) Employees may be better able to follow up on a research project conducted by an outside research consultant.
D) Generally, an outside research consultant can provide information more quickly.
E) all of the above

Question 47

All of the following are reasons for conducting research internally (in-house) instead of hiring an outside consultant EXCEPT _____.

A) employees are more likely to collaborate with in-house researchers
B) in-house researchers can often do the research for less money
C) in-house researchers can generally provide information more quickly than can an outside agency
D) in-house researchers are more likely to have special expertise or capabilities within a specific area of research
E) in-house researchers may be better able to follow up on a research project

Question 48

Business research is not formal.

Question 49

Objective research is generally replicable, meaning that another researcher could produce the same results using the identical procedures employed by the original researcher.

Question 50

Business research is not scientific inquiry.

Question 51

Applied business research is motivated by an attempt to solve a particular problem faced by a particular organization

Question 52

Information-only businesses are those that exchange information or information-related services such as distribution and storage, for free.

Question 53

Trends impacting business research does include expanding market freedom or international research.

Question 54

Customer churn is the annual turnover rate of customers.

Question 55

Customer commitment is the proportion of resources a customer spends with one firm in a given competitor set.

Question 56

Networking refers to computers connected to one another through various servers.

Question 57

Data warehouses are often used to store and catalog company information in an electronic format.

Question 58

Off-the-shelf data is readily available information compiled and sold by content-provision providers.

Question 59

A geographic information system (GIS) is only able to produce maps and directions for users.

Question 60

Organizational memory can be defined as the internalization of both external and internal information for use as an input to decision making.

Question 61

Outside research consultants cannot perform better research than internal researchers.

Question 62

Inside researchers are slower than external research consultants, in general.

Question 63

Due to the rise of Internet use in business, external research consultants can be very inexpensive for projects.

Question 64

Identify and describe the key elements of business research that help provide a clearer picture of what is involved.

Question 65

Compare and contrast applied business research and basic business research. Include an example of each type of research.

Question 66

What is the process for knowledge discovery in databases, or KDD?

Question 67

Identify and briefly describe trends affecting business research.

Question 68

Discuss what phenomena are studied in business research.

Question 69

Discuss the reasons for and against using an outside consultant for conducting business research.