...Current Events in Business Research Isaida Perez RES/351 December 15, 2013 Marcel Nzeukou In this paper I will discuss the business research process regarding the company I work for Aetna Inc., a health insurance company. I’ve been working in the health insurance field for some time now, and I find it rewarding being able to assist my clients with their health insurance claims. I will summarize the research process within Aetna and how that process applies to its daily functions. The business research process usually beings by looking at the market and/or industry. The reason this is done is to determine if whether or not there is an opportunity for business to be establish within a target market. Aetna was established in 1850 as “an Annuity Fund to sell life insurance” (Aetna, Inc.), established out of Hartford, Connecticut they were one the first insurance companies in the area. In those times there was an obvious need for insurance companies, and there were relatively few established health insurance companies. Since that time Aetna has committed itself to providing access to cost-effective health care of the highest standards. They strive to protect their clients against health-related risks and help them achieve both good health and financial security. Business research as defined by Cooper & Schindler,” is a systematic inquiry that provides information to guide managerial decisions”. This definition can be applied to Aetna Inc., as business decisions must be made...
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...Current Events in Business Research RES/351 University of Phoenix Current Events in Business Research The “Bringing Research to Life” section of Chapter 3 of Business Research Methods describes a scenario in which Myra Wines is part of a research team hired by the U.S. Army to determine whether the military’s munitions testing area was contributing to the high civilian death rate. Local activists believed the area was an environmental hazard and were attempting to force the closure of the firing range. The Army’s hypothesis was that its dud shells would only ignite if another live bomb caused it to explode and the civilian deaths were unrelated to the munitions testing area. Wines hypothesized that the duds could ignite and cause harm to civilians without leaving evidence of the event (University of Phoenix, 2011, Week One Reading). The text indicates that the research team met with Army personnel to review reports on the duds, to understand the management question, and to clarify the research question. The team observed Army personnel firing shells, the effects of the explosions, and the frequency of duds to understand the dilemma and develop research questions. As a result of a dud exploding unexpectedly, the team created a research design strategy and began collecting data through an observations study. The study revealed that civilians were scavenging salvageable metals from the duds;...
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...Current Events in Business Research Tamika Taylor RES/351 July 21, 2014 Michele Burpeau-Di Gregorio Current Events in Business Research Describe the business research process When the organization wants an inclusive and full understanding of a developing theory and information practices a case study is conducted. A case study creates a complete assessment of what the customer wants by researching the product or field in every aspect. Case studies involve on-site analysis, and interviews of people that use the product or individuals that are in that particular field that is being researched. The Case Study method involves extensive information gathering, and most case studies are typically time demanding. Identify the research problem and the research method Accounting research is often challenged about its relevance and achievements. Accounting research matters for the development and for improving the practice. This specific case study questions the complexity of the different variables, and the actual practices that detail the ordinary, unusual, or infrequent. This case study was created to answer the how and why questions of accounting, evaluating the importance and application of accounting research and how it relates to professional proficiency. According to Cooper, D. J., & Morgan, W. (2008), “Case study research comes in many forms, and is extremely useful in raising questions, highlighting issues, developing and testing theory, and providing guidance...
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...Current Events in Business Research Tamara Channel RES/351 March 2, 2015 Professor John Rudin Current Events in Business Research Thorough and appropriate research is essential to the success of a business. Business research is defined as an organized effort to plan, acquire, analyze and disseminate information and insights to the people who make the decisions to assemble the organization to perform the proper actions that will result in fully maximizing its performance (Cooper & Schindler, 2011). Some companies choose to outsource some of the call center operations. Companies who use outsourcing tend to route their high level or grandfather customers with the agents of the in-house operations and route the lower level customers to an outsourcing company. Business research process starts with an overview of the industry or market. Opportunities for the business in the market can be assessed during this phase. The research then includes collecting information that will assist in determining customer product and service needs. An analysis can be run to govern the course the company should take. The testing phase includes, directing numerous tests that can deliver pertinent information to forecast customer behavior. The final step includes the decision or implementation of the actual idea (Cooper & Schindler, 2011). This paper will discuss the research study on call center outsourcing. Identify the Research Problem and the Research Method Used ...
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...Current Events in Business Research The research process is essential in today’s businesses and corporations. The research process enables companies to perfect their business and the processes in which they complete tasks or solve problems. The research process is usually used when there is a gap in a process. In order for the process to be used there is usually a dilemma or an area of opportunity. Once an area of opportunity is identified a group works together to question the problem and work to improve or change it. While working at a large corporation I have witnessed many areas of opportunity and what is done in order to improve these issues. I currently work at a major financial institution that helps customers with past due mortgages. In order for a customer to have their mortgage modified a customer must go through a lengthy process. While going through a modification, customers were being forced to speak to several representatives resulting in having to resend documents and explain their situation several times. This issue was identified through many complaints received but not only customers but employees as well. This situation was resolved by a special project team that came up with the concept of Customer Relationship Managers (CRM). These CRM employees are a one stop shop for customers who are going through a modification. This process enables customers to work with one representative from start to finish. This cuts down on unnecessary double work on both the...
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...Current Events in Business Research Tanesha Wilson RES/351 March 7, 2013 Deborah Alrutz Current Events in Business Research The business research process begins with an overview of a particular market or industry. During the overview, individuals can assess whether opportunities for business exist within that market. The next step of the business research process includes the collection data, which aids in determining the consumer need of products or services. An analysis of the data collected will also help to determine the direction the company should go. The business research process also involves a testing phase. In this phase of the process, conducting various tests can provide helpful information to predict customer behavior. The final step typically includes the decision or implementation of the idea (Cooper & Schindler, 2011). This summary will provide a brief overview of the business research process used to launch Cutie Pies Organic Cakes. The Process Cutie Pies & Cakes had been operating for several months as a home-based business making only navy bean pies and carrot cakes. As a featured vendor at an annual food and pastry tasting festival, we experienced an overwhelming response to our products, with one exception; a request for organic pies and cakes. The first task was determining if the local pastry industry needed an organic or “all natural” presence. To our surprise we encountered many who would want to purchase organic pastries regularly...
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...Current Events in Business Research Daniel Murphy RES/351 April 28, 2104 Dr. Linda Florence Current Events in Business Research The business research process begins with clarifying the research question (Cooper & Schindler, 2011). In the restaurant company I work for, we wanted to know how the employees feel about the company and what we could do to make us the employer of choice. Once we had that question figured out we needed to come up with a proposal and a research strategy to gain the data needed to answer the question (Cooper & Schindler, 2011). We, as a company, came up with the idea do have everyone do an anonymous survey. In this survey questions were asked about the direction of the company, what you would want to see from the company, how comfortable you are with pay, benefits, your supervisors, our values, and what you would change if you could change things about the company. This survey was taken by over 95% of our workforce including our corporate office employees, district managers, general managers, assistant managers, and all employees so that was a huge turnout. Next the data had to be collected and prepared, before we could move any further (Cooper & Schindler, 2011). Once the data was collected and prepared every district received an analysis of the company overall did, and their district did. On top of that each restaurant received analysis of how they did as a restaurant, and copies of how the district and company did as a comparison...
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...Current Events in Business Research Crystal G RES/351 January 18, 2014 Current Events in Business Research Business research in any organization is important because it helps deliver information to solve problems and encourages managers in making decisions to better an organization. In the insurance industry for example, entails learning everything possible about what the customer needs are. The major objectives are determining what products or services to offer for that particular client, which clients are most likely to buy that particular insurance and what carrier is going to offer the most competitive pricing. There is a lot of competition within the insurance industry. Within Wells Fargo Insurance Company, they offer several products readily available to fit that particular customers business. There are various methods Wells Fargo uses within the business research process to help the organization achieve their goals. The first step is identifying the competitors. One way Wells Fargo identifies the key competitors in the industry is through secondary research. Secondary research is information and or data that are available about that company and open to the public. This information allows our agency to see what products they sell and their key strengths on that particular line of business. The Insurance Journal which is the national property casualty magazine helps determine what companies are specializing in that line of business and who is ranking in...
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...Current Events in Business Research RES/351 September 10, 2012 Julie Bonner Current Events in Business Research The business research process is about learning everything there is to know about an organization, the consumers, competitors and the trade. The main points are trying to figure what products or services to offer, what consumers are likely to buy them, the region as to where to sell or buy them, and lastly the pricing. By following the important steps of business research a company is able to achieve these objectives. Business research was used in the military but in different ways Identifying Competitors - The mission of the military when it comes to new soldiers is to attract and retain quality soldiers. For instance the Army (the branch I was enlisted in) is facing tough competition when trying to maintain or attracting recruits and enlisted personal of all components and ranks. This is due to the low momentum of the recruiting efforts and potential recruits and that is why they are offering enlist or re-enlistment bonuses which is a financial incentive that is not given in the civilian hiring world. Since, the real world is their true competitors. Studying Customers - The needs and wants of the new recruits and re- enlistment are very essential. So before initiating these incentive programs, I believe that the military would have to establish what the needs and wants are of enlist and re-enlistments. An essential point, just like a product is...
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...Current Events in Business Research Business Research RES/351 This paper will summarize the business research process by defining the business research process by my experience in the workplace. The most current working industry experience that I have experienced is the casino industry. I will briefly summarize some of the business research of the casino industry. One of the very first business research processes that a potential business owner must consider is location. In the case of my current employer, The Santa Claran Hotel Casino had to determine which location in which land was owned by the tribe of Santa Clara Pueblo to place the casino. This particular business research was a little different from the conventional business research process for location. For example, usually if someone wanted to open a movie rental establishment they would do research to find out the location in which they are most successful. They would find out that they are most successful next to or in close proximity of a McDonald’s. One more example would be a CVS Pharmacy being successful close to a Walgreen’s. Another business research process that is very important in the casino industry would be the selection of which slot machines to put onto the casino floor. There are several business research processes that are involved with this decision. The Slots Director has to sift through thousands of different slot manufactures and themes to determine the right ones...
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...Current Events in Business Research Bryan Holmes RES/351 March 6, 2014 Benjamin Millard Current Events in Business Research The current event with the business I am employed with is growth. Business has grown so much the equipment on rent count has doubled and the space along with the technicians to maintain it has not. The problem identified is no more room for more technicians or equipment. The oil industry is booming in Northern Colorado but, is it stable? The options thrown around right now is to add more bays to the current building for technicians, creating a split-shift, opening and old building in Lafayette to sustain the growth, also opening a megastore on Highway 85 and highway 52. There is 100 acres available build to suit. With a majority of work in right in that vicinity the location would not only assist in sustaining the growth but, strategically placing a facility at that location would set Sunstate Equipment apart from the competition. The risk involved as stated is, is the oil business stable. With some reliable information through Oil execs, the oil found in Northern Colorado is the biggest in North America at the moment. The problem is the trends of the oil industry have a history of fluctuating. Right now the problem has been identified with growth. If the oil industry flops or falls on its face, there needs to be a contingency plan. The first suggestion is expanding the current building with a split-shift. This is a metered response or a band aid. If the...
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...Current Events in Business Research RES/351 July 28, 2014 Annette West Current Events in Business Research For the purpose of this assignment I ended up going in two totally different directions. Initially I wanted to research “burn out” on the job as I personally feel it and I personally see it every day at work, but in the end I decided to research on a second issue at my place of employment and that is “working off the clock”. I began working for my current employer, the federal government, in 2009. Since that time I have noticed the common practice of the expectation of my fellow workers and myself, without specifically being asked, to perform our duties and not report our time that was in excess of eight hours per day. Most recently I was asked by our local Union to become a Union Stewart and since accepting that position I wanted to research as to why this is normal practice and how we can go about correcting this issue. In researching the University’s Electronic Reserve Readings I have decided to use a paper labeled “Working off the Clock and Its Impact.” To begin with I believe it is common knowledge that it is against federal law to allow any employee to work outside of their normal working hours without compensation. According to the Department of Labor’s (DOL) website “the Fair Labor Standards Act (FLSA) prescribes standards for wages and overtime pay, which affect most private and public employment. The act is administered by the Wage and Hour Division....
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...Current Events in Business Research Recently in our workplace, the top leaders were faced with a dilemma that required the business research process. They had to decide whether it was cheaper to refurbish our organization’s building or tear it down and build from the ground up. Before making this decision, the office took a survey from the employees. Some of the questions included how much room was needed versus what we had based on experiences and what benefits would a new building bring to the organization. After the survey, employees did some brainstorming with top leaders to see where they stood on the issue. They researched the cost of each project individually. They cost was determined by need versus want, advantages versus disadvantages, and budget. Leaders also had to figure out a timeline to get the project done and had to determine where employees would work during this transition. After thorough research, the reports were brought back for comparison and analysis. They had to determine what was best for the organization. They had to determine if following the budget was more important than quality. They also had to decide whether the solution was good for the present, the long run, or both. Through research, they found that because the current building is so old, so much damage had been done and most of the components were outdated, it would be cheaper to tear it down and rebuild. Research gave them the answers to the questions they had, tips, and recommendations...
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...Current Events in Business Research Holly Sestito RES/351 March 12, 2012 Dean Gualco, EdD, MBA, MPA Current Events in Business Research The business research process begins with collection of data and then processed into information that can be used to define more details on where, when, how, and what type of business is needed for that type of section. When deciding to start my own business with Scentsy I had to first collect data as to what the company was that I was getting into. Then I had to decide if I like the product that was being sold enough to sell it myself. The next variable would be whether or not people would buy it and if I would have continued product sales. The methods for this company sell best by word of mouth and my group parties. The empirically testable hypotheses in this case are that other people are selling the product and are doing great at it. This company is growing at such a fast rate that the people that involve themselves into it will be guaranteed to make nice amounts of money from a great product and business plan. When competing with other type of businesses they have a unique product that will not burn skin, and they have a one of a kind product that no one else has. Statistically the products are safer than party-light because there is no open flame Scentsy uses only a light bulb to heat and release the fragrance. It is proven that candles left unattended can cause a fire. While Scentsy only uses a light bulb this can be a drawl...
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...Current Events in Business Research Debra Blackwelder RES/351 March 10, 2014 John Gilpin Current Events in Business Research The business research process begins with the collecting of data and then processed into information that can be used to define more details on where, when, how, what type of business is needed for that type of buyer. You have to clarify the research question by discovering the management dilemma, defining the management question, defining the research question(s) and finally refining the research question(s), which is called the exploration of research. Then the research proposal is done, followed by the research design strategy, then data collection and preparation. Next are the data analysis and interpretation, then research reporting finishing with the management decision. The article that the Arthur used for this paper talks about how President Obama issued a list of executive orders, one of which is for the Center for Disease Control (CDC) received $10 million to research gun control violence. In the wake of all the different school shootings, the Obama Administration and anti-guns proponents thought the evidence would be irrefutable to support why guns make Americans less safe. They were not expecting what the CDC report found in their Priorities for Research to Reduce the Threat of Firearm-Related Violence. Their report study findings are that armed citizens are likely to be injured by an attacker, defensive uses of guns are common and that...
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