Free Essay

Business Research Methods

In:

Submitted By zscott
Words 1461
Pages 6
Business Research Methods, Part III
Robert LaFond, Taylor Norman, Zephyr Scott, Vennita Watson
QNT 561
May 13, 2013
Sripathi Nilkar

Introduction As Ford Motor Company continues to seek ways to improve its current hybrid vehicles, the company will conduct a statistical analysis of the results of the questionnaires returned by its customers. Through this analysis, Ford Motor Company will be able to identify challenges that the company faces as well as the steps needed to reduce these challenges and improving both the company’s product and image.
Statistical Analysis
The results gathered from the questionnaire immensely helped Ford understand new aspects of an improved Hybrid vehicle. Subject 1 was the owner of a 2010 Ford Fusion Hybrid. Subject 1 has had 4 scheduled maintenance jobs performed on the car in the past year. On average, Subject 1 only drove 100 miles per week. Usually, scheduled maintenance is performed depending on the gas mileage of the car i.e. oil changes, tire rotation and balance, etc. Subject 1 took good care of their car over the past year, but still had two serious additional car problems. The 2010 Ford Fusion Hybrid costs Subject 1 on average $127.06 a week in gasoline. This customer is only satisfied at level 3. Being that this is only a three year old car, these problems point to inefficiencies with manufacturing. Both are costly for the owner to replace.
Subject 2 is the owner of a 2012 Toyota Prius. Scheduled maintenance was performed on the car 3 times within the last year with no additional repairs required. With one stop for gas within the week, they are able to cover their 100 mile average week for only $43.20. They are satisfied with the economy of their vehicle at a level 5. The Toyota Prius is a well-rounded car with good surveyed results.
Subject 3 owns a 2012 Ford C-Max Hybrid. Scheduled maintenance was performed four times in the past year with no additional required repairs. They travel an average of 150 miles per week and spend $49.01 each time they fill they car with gasoline. They are satisfied at a level of four.
Subject 4 owns a 2012 Honda Insight and has scheduled maintenance 5 times within the course of a year with no additional problems experienced. Subject 4 travels the most at 165 miles per week and fills up twice at a price of $38.48. They are completely satisfied with the performance of their vehicle.
Subject 5 owns a 2012 Kia Optima Hybrid. They have four scheduled maintenance jobs performed on their car within a year, but had their intake hose replaced. He/she travels 115 miles and spends $62.44 twice within a week. They are satisfied with their vehicle at a level of four. The intake hose is part of the air filtering system.
Subject 6 is the owner of a 2012 Hyundai Sonata Hybrid. They have three scheduled maintenance jobs on their car a year and have had no additional maintenance required. Within a week, he or she travels 115 miles and spends $124.88 on gasoline. They are satisfied with their car at a level of 3. A scatter plot of the information shows the following:

The discussed information yielded results that reflected the Toyota Prius and Honda Insight are the most efficient vehicles assessed in the research done. These two cars yielded the best results in dollar spent/mile as well as had the most satisfaction amongst their owners. For Ford, this is the first step in understanding the characteristics they should implement for a better hybrid car.
Potential Challenges
Potential challenges to the validity and reliability of the research include variations in gas prices, the varying quality of inspections, and highway verses country mileage. Gas prices vary depending on the state of the economy and location. Prices of gasoline per gallon change consistently by as much as two dollars within the year. This could sway slightly the end result of miles per dollar each subject receives. The number of inspections that a customer receives within the year could be due to the quality of scheduled maintenance they have received. If potential problems were not noticed at first inclination, then they could develop into more serious complications- in this case analyzed as manufacturing problems. Most cars receive more mileage during stents of open road. It is in the city with constant starting and stopping along with slower mph that lessen miles attained by the car. For the assumptions of statistics to be true, all of these would need to be constant and analyzed under the same conditions.
Steps to Minimize these Challenges The potential challenges posed by our research question, data, and analysis are unfortunately beyond our control. We have no control over the state of the economy and location in which our research is conducted. Furthermore, we have no control over gas price variations, quality of inspections, and the consumers’ country mileage versus their highway mileage. So our best mode of defense to minimize these challenges is to broaden the research area and conduct multiple location research. This will allow us to have a more accurate accounting of various locations and be able to apply the results to similar locations. No vehicle can be 100% perfect for the car owner, and the car owner’s usage of the vehicle plays a major role in many aspects of vehicle efficiency and economics. Therefore, no changes need to be made to the research question or questionnaire. Instead, the research just needs to be expanded for accuracy and to increase reliability and validity of the data.
General Response Types A lot of thought goes into determining the most appropriate measurement scale to be used in research. The scales are placed into one of the four general response types: categorization, ranking, sorting, or rating (Cooper & Schindler, 2011). In our research and measurement scale, we went with the questionnaire method. This method allows us to gather as much information as possible from many consumers. Furthermore, it provides the information to us in an organized fashion to make placing the response to the questionnaire underneath the appropriate general response types. The car year, make, and model falls underneath the sorting response type. The most valued feature of the owners’ vehicles falls underneath the ranking general response type. The scheduled maintenance performed, car trouble, miles driven per week, times stopped for gas per week, and price to fill up the vehicle falls underneath the categorization general response type. And lastly, the owners’ satisfaction with their current hybrid vehicle falls underneath the rating general response type.
Classify your findings in order of power
As Ford Motor Corporation analyzes the results of its questionnaire, it will be able to identify which variables have the most impact on current hybrid vehicle owners. The current questionnaire identifies eight different variables for customers to rate. Of the eight questions asked, the questions concerning mileage and maintenance are weighted higher as they are more important to current and potential customers.
Each questions is weighted based on the responses received and ranked. By doing this, Ford is able to apply additional resources or efforts to questions that the company feels it should focus on to increase the marketability of their vehicles. To further aid in increasing their marketability, Ford will utilize a quadratic model to verify the results of the questionnaires returned by its customer. Of the measurement scales utilized, nominal, ordinal, interval and ratio scales, the ratio scales which “incorporate all of the powers of the previous scales plus the provision for absolute zero or origin” (Cooper & Schindler, 2011, p. 277) will provide the variables utilized in the quadratic model. Specifically, a complete second-order model will allow Ford to identify mileage and maintenance as independent variables as the company works towards improving their current vehicles.

Conclusion
This paper reflects the results of a detailed survey regarding the improvement of current hybrid vehicles. Several factors were used to come to the conclusion that influence validity, reliability, and practicality of scales must be considered when selecting and constructing a measurement scale. The scales are placed into one of the four general response types: categorization, ranking, sorting, or rating (Cooper & Schindler, 2011). Measurement scales will be utilized to ensure that the survey accurately reflects the desires of Ford Motor Company.
As shown in this paper conclusions are found through the use of a survey, Ford Motor Company will be able to rate the satisfaction level of the owners of its Hybrid vehicle as well as being able to make improvements based on the results of its survey.

Reference
Cooper, D. R., & Schindler, P.S. (2011). Business research methods (11th ed.). New York, NY: McGraw-Hill/Irwin.

Similar Documents

Premium Essay

Business Research Methods

...Business Research Methods Paper 603 Submitted By: Divjot Kaur 1.1 Type of Interview For the purpose of this research Alexander chose semi structured face to face interview with the board of directors of chamber of commerce. To collect the primary data Alexander has to plan a semi structured interview with the board. Steps * Draft a questionnaire which will be presented in front of the board of directors * Fix an appointed with the board of directors * Interview the board of directors Scope and benefits 1. Firsthand information for investment decision making purpose. 2. No technological distractions or interference 3. On spot clarifications on questions and comments or concerns 4. Reliability of data provided by industry experts and chamber of commerce 5. Sufficient information will be available in hand for decision making 1.2 Face to face Interview Key attributes of face to face interview 1. Adaptability: One of the key attributes of face to face interview is adaptability. The interviewer can adapt their questions according to the respondent’s answers and can sought clarifications on any given topic. This gives the interviewer an opportunity to probe which is particularly important when the interviewer need clarification on particular research topic. The interviewer can ask further questions and request the interviewee to be more detailed and explicit during the face to face interview. For example for evaluation the highest...

Words: 1584 - Pages: 7

Free Essay

Business Research Method

...Business Research Methods Part One Dwayne Bell, Quorisa Handy, Pamela Williams, and Vernita Williams QNT/561 October 21, 2012 Matthew Radio Business Research Methods Part One Hospital Sunshine has experienced a 30% decrease in patient satisfaction scores. The hospital food services department received the latest scores. The management dilemma is related to the 30% of Medicare reimbursement tied to patient satisfaction (Centers for Medicare and Medicaid Services, 2012). The current poor scores place the contracted company at risk of losing the contract at Hospital Sunshine. The executives have discussed a plan to research and resolve the issues. The team has decided to why there has been a 30% decrease in patient satisfaction in their meals at Sunshine Hospital. Due to the numerous variables in the tray line and food service delivery the team reviewed the break down questions. The lowest scores of 70% out of 100% were seen in the temperature of the food delivered. The team has decided to research the lowest scoring variable. The research question is: How can we increase patient satisfaction by getting the food to the patient at the right temperature? Research Design –Que According to our readings, a research design is the strategy for a study and the plan by which the strategy is to be carried out. It specifies the methods and procedures for the collection, measurement, and analysis of data (Cooper & Schindler, 2011). The research design that is appropriate...

Words: 495 - Pages: 2

Free Essay

Business Research Methods

...Business Research Methods – Part I University of Phoenix July 5, 2010 Introduction Business research is very important in solving business related problems. Business research, “is a process of planning, acquiring, analyzing and disseminating relevant data, information, and insights to decision makers in ways that mobile the organization to take appropriate actions, that in turn, maximize business performance” (Cooper & Schindler, 2006). Nonprofit organizations are currently having a tough time in this economy because of budget cuts. One place in particular suffering is the YMCA. This business research plan will form a research question, which arose from this dilemma as well as define the problem the YMCA is currently having. Along with the research question, an appropriate research design will be defined in order to try to fix the problem appropriately and then a sample design used for collecting data will be defined. Research Question Development When conducting research of any kind, it is crucial to address any potential problems that may arise to ensure that an organization is operating at its optimal level. Because of the turmoil in the economy, nonprofit organizations all over the nation are experiencing a tough time due to budget cuts. In addition to a lower budget there has been a significant decrease in employee satisfaction possibly due to a decrease in raises and incentives for YMCA employees. Finally, there has been an increase in employee absenteeism...

Words: 694 - Pages: 3

Premium Essay

Res 320 Week 2 Business Research Methods

...Week 2 Individual Assignment RES-320 Business Research Methods Question #2 - Define the distinctions between primary, secondary, and tertiary sources in a secondary search. Primary sources are original pieces of information. It is raw data without any input or hypothesis from outside sources. Secondary sources are interpretations of a primary data source, or anything that is derived from a primary source. Tertiary sources are in turn interpretations of any secondary resources, or any data that is derived from a secondary resource. Question #5 - Some researchers find that their sole sources are secondary data. Why might this be? Name some management questions for which secondary data sources are probably the only ones feasible. There are certain researchers who find secondary data as their sole source of data because; by using secondary data much of the original research has already been completed. Using secondary data is useful in saving time and resources while gathering information. It can also be the only source of information when the only primary information which exists is proprietary information which is not accessible to the public. Historical data can also play a factor if the data being researched is of historical nature, and there is not any original primary data that exists anymore. Question #7 - What problems of secondary data quality must researchers face? How can they deal with them? There can be multiple problems with secondary data quality...

Words: 576 - Pages: 3

Free Essay

Business Research Methods

...Business Research Methods, Part I Nikkei Crowder, Jessica Thompson, Delores Winton QNT/561 Anthony Matias August 13, 2012 Business Research Methods, Part I There are elements needed when conducting research, such as developing a theory and hypothesis, determining an appropriate research design, collecting data, providing analysis of the data, and revising the theory upon results. This paper will develop a research design behind the auto industry bailout and identify a sample design used for collecting data. Organizational Dilemma What was the ultimate cause of the downfall of the auto industry resulting in a bailout? This research question arising from the dilemma in the auto industry is one that many American’s found him or herself asking after the government decided to bail them out of their financial crisis. In 2008, the auto industry found itself in a downward financial spiral. Gas prices reached over $4 a gallon and the credit debacle is only a couple of reasons for the dilemma the auto industry faced. The country was facing a recession and they blame up-and-coming technologies of distracting technologies to validate and continue the old routine and procedure to fill their pockets with money and bonuses to retain the status quo in the industry without any regard to others affected, even if this method compromises their long-term strategy.  Roche (2009), “This qualifies as failed management syndrome because they consider themselves royalty and...

Words: 766 - Pages: 4

Premium Essay

Business Research Methods

...COMPANIES IN MALDIVES BUSINESS RESEARCH METHODS AIHAM MOHAMED AHMED TP029473 Table of Contents CHAPTER 1 3 1.1 ITRODUCTION 3 1.2 BACKGROUND OF THE STUDY 3 1.3 STATEMENT OF THE PROBLEM. 4 1.4 RESEARCH OBEJCTIVES 5 1.5 SIGNIFICANCE OF THE STUDY 6 1.6 SCOPE OF FEASILBILTY OF THE STUDY 7 1.6.1 SCOPE 7 1.6.2 FEASIBILITY OF THE STUDY 7 CHAPTER 2- LITERATURE REVIEW 8 2.1 DEFINITION OF FORENSIC ACCOUTING. 8 2.2 IMPORTANCE OF FORENSIC ACCOUNTING IN LISTED COMPANIES IN MALDIVES. 9 2.2 FORENSIC ACCOUNTING HELPS TO ELIMINATE CORRUPTION. 10 2.3 FORENSIC ACCOUNTING INFLUENCES THE ORGANIZATIONAL PERFORMANCE 11 2.3 CURRENT SITUATION IN MALDIVES. 12 CHAPTER 3 – RESEARCH METHODOLOGY 14 THEORETICAL FRAMEWORK 14 3.2 TYPES OF DATA 16 3.3 SAMPLING DESIGN 17 3.4 DATA ANALYSIS 17 3.5 HYPOTHESIS TESTING 18 4. CONCLUSION 19 REFERENCE 20 IMPORTANCE OF IMPLEMENTING FORENSIC ACCOUNTING IN LISTED COMPANIES IN MALDIVES. CHAPTER 1 1.1 ITRODUCTION The main purpose for this research to be carried out is to investigate the importance of forensic accounting in the business world, and how important it is to implement a solid forensic accounting system in the listed companies in Maldives. This chapter provides an overview of the study that contains the background of the study, the statement of the problem, research objectives, significance of the study the limitations faced while doing the study and the scope in which the research had been carried out...

Words: 5253 - Pages: 22

Premium Essay

Business Research Methods

...Business Research Methods, Part II We have collected data to look at specific and appropriate waiting times for consumers in fast food drive-thru lines. The team was asked to collect a sample design and provide the collection methods to maintain our data validity. We prepared a survey for the appropriate wait times, and in doing so we came up with a customer questionnaire and an appropriate sample size to justify our decision. We were asked to classify the data in order of power. We first had to decide what our problem was, then create a question to base our research on. Research Question We first determined what type of research questions to ask and from what point of view. Looking at customer service we wanted to consider a place that deals with thousands of customers a day and is well known to make research easier. We decided on McDonald’s and the satisfaction customers have with their wait in drive thru and service. The research question is, “How can restaurants like McDonald’s lessen the wait time in the drive-thru to maintain or increase sells?” Research Design & Method After determining the research question it was time to determine the research design. We had to take a look at how we were going to go about retrieving the information and the method we were going to use to observe the results. The first part of our research design was to determine the objective. Our objective is to use a formal study due to the fact that we have already determined our research question...

Words: 875 - Pages: 4

Premium Essay

Business Research Methods

...Business Research Methods Kim Smith QNT/561 June 25, 2012 Leda Villalobos Business Research Methods Wal-Mart is the world’s largest retailer but revenues are on a consistent growth trajectory, cost of sales has also been increasing (Consolidated Statements of Income, 2011). One strategy to leverage revenue growth against the risk of increasing expenditure may be to use current assets in new ways. The boutique-within-the- store concept will apply current infrastructural and personnel resources to reach a demographic with greater disposable income. The target market will be working women with young families who can purchase an item suitable for work, picking up children from school or daycare, and with a few accessories she is ready for an evening out. The product offering will compete with Dress Barn and Cato and be similar to that of Target’s new marketing thrust. The research question will emanate from analysis that applies the Management Research Question Hierarchy and further tested for alignment with the management dilemma. The research design will establish the feasibility of proposed solutions to the management problem through a stratified random sample of Wal-Mart customers. Background Information Wal-Mart was founded in 1962 with the opening of the first Wal-Mart discount store in Rogers, Arkansas (Wal-Mart Corporate, 2012). The organization has grown and is established in 27 countries in which it operates under 69 banners employing over 2.2 million...

Words: 1271 - Pages: 6

Free Essay

Business Research Methods

...BUSINESS RESEARCH METHODS PROJECT ON GALLUP INTRODUCTION Gallup, Inc. is a research-based, global performance-management consulting company. Founded by George Gallup in 1935, the company became famous for its public opinion polls, which were conducted in the United States and other countries. Gallup works with major businesses and organizations around the world. In 1988, four years after George Gallup died, Selection Research (SRI) purchased the company from its heirs. SRI wanted the Gallup name to use on its polls, which gave them more credibility and higher response rates. Today the poll is used to gain visibility. Some of Gallup's key practice areas are employee engagement, customer engagement, talent management, and well-being. Gallup has nearly 40 offices in more than 20 countries. World headquarters are in Washington, D.C. Operational headquarters are in Omaha, Nebraska. Gallup's current Chairman and CEO is Jim Clifton. Gallup delivers forward-thinking research, analytics, and advice to help leaders solve their most pressing problems. Combining more than 75 years of experience with its global reach, Gallup knows more about the attitudes and behaviors of the world's constituents, employees, and customers than any other organization. Gallup consultants help private and public sector organizations boost organic growth through measurement tools, strategic...

Words: 3411 - Pages: 14

Premium Essay

Business Research Methods

...Programme in Management Course Outline Course Title | BUSINESS RESEARCH METHODS | Instructors | Dr. Arun Abraham Elias | Course Credit | | Total no. of sessions | 8 | Session Duration | 75 minutes | Term | III | Year | PGP 17, 2013-2015 | Introduction Business research can be described as a systematic and objective process of gathering, recording, and analysing information that assist in managerial decision making. It comprises a series of steps including: identifying the problem or opportunity for research; undertaking a literature review; developing or extending a conceptual or theoretical framework; establishing the research objectives, research questions or hypotheses for testing; preparing a research design; gathering information and data; analysing and interpreting the data and findings; and providing results in a form that will help the manager deal with the situation and/or adds to the business and management literature. In essence, business research provides the needed information that guides managers to make informed decisions to successfully deal with problems or opportunities. This course provides an overview of the research process, and an introduction to a range of methods and approaches utilised in business research. Course Learning Objectives By the end of this course, students should be able to: * Appreciate the importance of the research process inherent in business and management decision-making; * Understand some...

Words: 562 - Pages: 3

Premium Essay

Business Research Methods

...Business Research RES/351 September 3, 2013 Business Research Ethics Boeing Missile Defense System Unit, located in Chicago, Illinois, terminated the employment of both the company’s top financial executive Mike Sears and newly hired Vice President and Deputy General Manager Darleen Druyun after violating company policies by communicating with each other in regards to future employment decisions before Druyun terminated her employment with the United States government, which was a direct conflict of interest for the Boeing Company and the United States government. Boeing Missile Defense System Unit manufactures and distributes commercial aircraft and defense aircraft. One of Boeing’s biggest consumers happens to be the United States government. Mike Sears and Darleen Druyun provided each other with very important and confidential information that could make or break the both of their future career opportunities. This information shared between Sears and Druyun could destroy the Boeing Missile Defense System Unit financially as well. Mike Sears held top positions in each of Boeing’s top businesses in commercial aircraft and defense aircraft. He was also being considered as successor of 62 year old Phil Condit as CEO of the Boeing Company. Prior to Darleen Druyan’s employment with the Boeing Company, she served as Principal Deputy Assistant Air Force Secretary for Acquisition and Management for the United States Government. After an internal investigation was completed...

Words: 554 - Pages: 3

Premium Essay

Business Research Methods

...Business research involves the systematic and objective process of gathering data and transforming it into useful information. The research process is not confined around a single universal methodology. Infact it differs from one research study to another depending on the purpose of the research, the industry/ sector of the client company concerned, the research method/ tools used etc. As the research process differs, researcher faces different problems and issues pertaining to the research at almost every stage of the research process. It is important to note that the research problems are more complicated in studies involving subjective issues such as customer satisfaction surveys because in such a study, the quality and effectiveness of the service/ product varies among different customers depending on the customer''s perceived value of the offering, their prefferences and varying needs and demands. One of the most common problem the researcher faces are budgetary constraints. This occurs in almost all the business researches regarless of the company sector, nature of the problem, the location where the study is conducted etc. However, budget constraints are higher when researches are conducted for SME (Small and medium enterprise) clients. Such clients have limited budget for such research activities as the company needs to ensure that the value generated by the research activity exceeds the cost involved in conducting the research. Depending on their project...

Words: 2734 - Pages: 11

Premium Essay

Business Research Methods

...Research Methods –STA630 VU Research Methods (STA630) Contents Lesson 1: INTRODUCTION, DEFINITION & VALUE OF RESEARCH ........................ 14 What is Research?................................................................................................................... 14 What is the value of Research? ............................................................................................... 14 Research helps in developing methodologies ......................................................................... 15 We are surrounded by research............................................................................................... 16 Lesson 2: SCIENTIFIC METHOD OF RESEARCH & ITS SPECIAL FEATURES ...... 17 Important Characteristics of Scientific Method ...................................................................... 17 1. Empirical......................................................................................................................... 17 2. Verifiable ........................................................................................................................ 18 3. Cumulative ..................................................................................................................... 18 4. Deterministic.................................................................................................................. 18 5. Ethical and Ideological Neutrality ............................................................

Words: 85920 - Pages: 344

Premium Essay

Business Research Method

...showing emotions, solving problems, and constructing its society. 1. What is a primary research question? A research question is the fundamental core of a research project, study or review of literature. It focuses the study, determines the methodology and guides all stages of inquiry, analysis, and reporting. A primary question is the one driving thought behind a research project. It should represent the entire reason for the study. Primary questions are important because how well a researcher meets the goals of the primary question will often be the criteria by which the research will be evaluated. The primary question should be a carefully worded phrase that states exactly the focus of the study. Under the case being study, the primary research question for this case study is:- Does Thai culture have direct influence towards employee involvement in Management? . 2. Frame few research objectives for this study? Research objective are the results sought by the researcher at the end of the research process, i.e. what the researcher will be able to achieve at the end of the research study. Research objective is a clear, concise, declarative statement which provides direction to investigate the variables. It focus on the ways to measure the variables such as to identify them and identifying the relationship or difference between two variables. The research objectives for this study are:- a. To examine the assumptions behind the...

Words: 4378 - Pages: 18

Premium Essay

Research Method for Business

...Chapter 4 : The research process: theoretical framework and hypothesis development 1. ”Because literature survey is a time-consuming exercise, a good, in depth interview should suffice to develop a theoretical framework”. Discus this statement. at this juncture, its becomes easy to follow the progression of research from the first stage of managers sensing the broad problem area. to preliminary data gathering (including literature survey), to development of theoretical framework based on the literature review and guided by experience and intuition, to formulation of hypotheses for testing. 2.”Good models are complex. What’s more, a good model should include both moderating and meditating variables”. Discuss this statement. There is no relationship between the quality of a model and the complexity of a model. Recall that parsimony is one of the hallmarks of scientific research: Simplicity in explaining the phenomena or problems that occur, and in generating solutions for the problems, is always preferred to complex research frameworks that consider an unmanageable number of factors. A good theoretical framework identifies and defines the important variables in the situation that are relevant to the problem. Moderating and mediating variables may or may not be important to the problem. A good model does and mediating variables not necessarily include moderating. 3. “Academic researchers usually develop more complex and elaborate models than applied researchers...

Words: 3598 - Pages: 15