Question 1

Consumer research conducted in the United States indicates that many consumers consider the country of origin when purchasing products, and consumers tend to prefer products that are made in the U.S.A. To determine if consumers in other countries are partial to their own country's products, what must be done before the empirical findings from the research conducted among U.S. consumers also exist and behave similarly in another culture?

Accepted Answer

For the empirical findings from the research conducted among U.S. consumers to be applicable in another culture, cultural cross-validation must be done. This is because cultural differences can affect consumer preferences and behaviors, and therefore, research findings cannot be generalized to other cultures without first verifying their relevance through culturally sensitive research methods. Reliability assessment, benefit/cost analysis, and cultural-monitoring research are all important aspects of research but are not directly relevant to verifying the generalizability of research findings to other cultures.

Question 2

Wal-Mart is the low-cost leader in retail. This company achieves this success by prioritizing efficiency in its distribution process. Which business orientation is Wal-Mart exhibiting when it prioritizes efficiency and effectiveness of the supply chain process (i.e., getting products into the stores) in making decisions?

Accepted Answer

When a company prioritizes efficiency and effectiveness in the supply chain process, it exhibits a production-oriented business orientation, where the focus is on maximizing production efficiency and reducing costs to offer products at a lower price. This is exactly what Wal-Mart does to maintain its position as a low-cost leader in the retail industry.

Question 3

All of the following are business orientations EXCEPT _____.

Accepted Answer

The question asks for an orientation related to business, and management-oriented is a type of business orientation. Therefore, all the given choices are business orientations, and none of them are outside the scope of the question.

Question 4

A business professor is examining the relationship between age and ethical business behavior. The research is not being conducted for any specific business or even industry, but rather it is intended to better understand and predict this behavior across all aspects of business. This professor is conducting which type of business research?

Accepted Answer

The research being conducted is basic business research as it aims to develop a broader understanding of the relationship between age and ethical behavior in all aspects of business, rather than focusing on a specific industry or business.

Question 5

When Target stores monitors the sales activities of its retail stores in order to detect any indication of dollar sales changes, this is an example of which type of research?

Accepted Answer

Monitoring sales activities to detect any indication of dollar sales changes is a type performance-monitoring research, which is used to track and monitor the success of business activities or processes.

Question 6

When conducting research internationally, it is important to _____ research results, which means the researcher verifies that the empirical findings from one culture also exist and behave similarly in another culture.

Accepted Answer

Cross-validation is the process of verifying the empirical findings of one culture also exist and behave similarly in another culture. It is an essential step in ensuring the generalizability of research findings across different cultures. Simulating, integrating, and cross-analyzing are not the appropriate terms for this process.

Question 7

_____ is the formal, objective measurement and appraisal of the extent a given activity, project, or program has achieved its objectives or whether continuing programs are presently performing as projected.

Accepted Answer

Evaluation research is the formal, objective measurement and appraisal of the extent a given activity, project, or program has achieved its objectives or whether continuing programs are presently performing as projected. Monitoring research refers to keeping track of ongoing activities and their progress, while performance research is a broad term that can refer to any research related to understanding or improving performance in a given domain. Comprehensive research is not a specific term related to this concept.

Question 8

A production-oriented firm focuses its research on _____.

Accepted Answer

A production-oriented firm focuses on maximizing efficiency in their operations, which is why they would primarily conduct research on line employees, engineers, accountants, and other efficiency experts to improve their production processes. They prioritize cost control, production volume, and quality control over customer preferences and external competitive forces.

Question 9

_____ is conducted to address a specific business decision for a specific firm or organization.

Accepted Answer

Applied business research is conducted to address a specific business decision for a specific firm or organization. Basic business research refers to research that aims to expand knowledge and understanding of a subject, while qualitative and quantitative business research methods are just different ways of gathering and analyzing data in business research.

Question 10

When a manager is trying to decide whether a new product launch decision should be postponed until some additional research can be conducted, which of the following questions should this manager ask himself or herself?

Accepted Answer

All of these questions are important considerations for a manager when deciding whether to postpone a new product launch for additional research. The manager should consider whether the expenditure for research is the best use of available funds, whether the information gained from the research will improve the quality of the business decision, and whether the payoff from the research will be worth the expenditures.

Question 11

The Chief Financial Officer (CFO) requested research to determine if the financing option the company implemented for a new capital investment initiative achieved the objective of reducing the company's tax liability. Which type of research is appropriate for evaluating this course of action?

Accepted Answer

Evaluation research is appropriate for evaluating the success or effectiveness of a program, policy, or process. In this case, the financing option implemented for a new capital investment initiative is viewed as a program or policy, and the objective is to evaluate its effectiveness in achieving the desired outcome of reducing the company's tax liability. Therefore, evaluation research is the most appropriate type of research to use in this scenario.

Question 12

Which of the following is the first step in developing a business strategy?

Accepted Answer

The first step in developing a business strategy is to identify problems or opportunities. This involves conducting a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to determine the current state of the business and identify areas for improvement or potential growth. Once the problems or opportunities have been identified, the next steps involve diagnosing and assessing them, analyzing firm performance, and selecting and implementing a course of action.

Question 13

A firm focusing more on how to provide value to customers than on the physical product or production process is embracing which business orientation?

Accepted Answer

A marketing orientation means that the firm is focused on understanding and meeting the needs and wants of customers. By prioritizing value to customers, the firm is demonstrating a customer-centric approach that fits with a marketing orientation. The other options, quality orientation and external orientation, may also prioritize customer value to some extent, but they do not necessarily prioritize it above all else like a marketing orientation does. The option of a value orientation is vague and could apply to any number of different approaches to business, so it is not as clear of an answer as A.

Question 14

Which of the following refers to the way researchers go about using knowledge and evidence to reach objective conclusions about the real world?

Accepted Answer

The scientific method is a systematic approach used by researchers to gather data, analyze it, and draw objective conclusions about the natural world. This involves developing hypotheses, testing them through experiments or other methods, and using evidence to support or reject those hypotheses. Both qualitative and quantitative methods can be part of the scientific method, but the scientific method as a whole encompasses a broader range of research practices. "Primary method" is not a commonly used phrase in research methodology.

Question 15

Campbell's Soup is considering launching a new gumbo product and is testing different recipes with consumers before full commercialization. What type of research is Campbell's using to determine which soup consumers will like the best?

Accepted Answer

Campbell's is using applied research, which involves practical application of scientific methods to solve specific problems or develop new products, such as testing different recipes to find the most preferred one by consumers.

Question 16

Which type of research tries to verify a theory or to learn more about a business concept and is not intended to solve a particular business problem?

Accepted Answer

Basic research aims to verify a theory or concept without a specific problem in mind. Performance-monitoring research is meant to track and evaluate the performance of a specific business process or system. Total quality management is a management approach aimed at improving product and service quality. The scientific method is a systematic process for conducting research and experimentation.

Question 17

In general, the ______ important a decision is strategically to the organization, the ______ likely that research will be undertaken.

Accepted Answer

The more important a decision is strategically to the organization, the more likely that research will be undertaken. This is because important decisions have significant implications for the organization and, therefore, require evidence-based decision-making rather than assumptions or guesswork. Research helps organizations to gather and analyze relevant information to make informed decisions that align with their goals and objectives.

Question 18

Which of the following is the LAST step in developing and implementing a business strategy?

Accepted Answer

Evaluating the course of action is typically the final step in developing and implementing a business strategy, as it involves assessing the effectiveness and feasibility of the chosen strategy before moving forward with implementation. Analyzing firm performance, identifying problems or opportunities, and diagnosing and assessing problems or opportunities are all important preliminary steps in the strategy development process.

Question 19

When a manager decides not to do research because a decision needs to be made before the results of the study can be analyzed, this is an example of which aspect in the determination of the need for marketing research?

Accepted Answer

Time constraints can be a reason for not conducting research when a decision needs to be made quickly. The manager may not have enough time to wait for the research results and needs to make a decision based on current information.

Question 20

All of the following are factors considered when deciding whether or not research is needed EXCEPT _____.

Accepted Answer

Managerial experience is not a factor that would be considered when deciding whether or not research is needed. The other factors listed (nature of decision, availability of data, benefits versus costs) are all relevant to determining if research is necessary.

Quiz 1: The Role of Business Research