Business Research for Decision Making
The work of decision making involves choosing between issues that require attention, setting goals, designing suitable courses of action and choosing among several alternatives through the evaluation of each one of the alternatives. Of great importance in decision making is the choosing between the several alternatives. The effectiveness of this work of decision making is of great importance for the well being of every business activity and determines the success of every business (Kay Miranda). In the business setup, decisions that can be made could include product improvement, choice of an investment plan, business expansion and areas of improvement. For business leaders and thus the entire business to be effective, determination of problems and the ability to get reasonable solution is crucial. These leaders should also predict new business trends and thus develop products and services as needed. The reliability and validity of the research, and thus the quality of the business decisions is heavily dependent on the human skills as well as the machines that are used in carrying out business research work.
The success of any business activity, and thus the entire business is highly dependent on the reliability and the validity of the research being undertaken. Decision making is a crucial process in the success of every business. Since decision making is dependent on the results obtained from a business research activity, reliability and validity of the quantitative and qualitative research conducted during a business research is very crucial and should thus be always ensured before decision based on the results can be arrived.
A research instrument is considered to be reliable if when conducted repeatedly, research results can be reproduced (Joppe, 2000). There are three types of reliability in quantitative research. The first assesses the degree to which repeated researches yield the same results; the second is based on the stability of measurements over time while the third is based on the similarity of measurements within a given period of time. On the other hand, Joppe (2000) suggested that a valid research is one that truly measures what it was intended to measure. In other words, a valid research is one that provides true results.
Quantitative research involves the use of experimental and quantitative measures to test general hypotheses (Hoepfl, 1997). Golafshani (2003) suggested that quantitative research is based on the measurement and the analysis of the causal relationship between variables. Through quantitative research, the researcher is familiarized with the concept to be studied and generates the hypothesis to be tested. As such, the mathematical process takes the norm for analyzing the numeric data and the information gathered takes a numeric form that can be quantified and summarized. Moreover, according to Charles (1995), the final result of the quantitative research is usually...