MGT Individual Project 5 Research Paper Example | Topics and Well Written Essays - 2000 words

MGT Individual Project 5 - Research Paper Example The study reflects the principles of qualitative and quantitative analysis which are used in business cases. It states that both the methodologies are equally important in conducting the research where a combination of both the methodologies helps in improving the quality of the research work. The study concludes with an insight into the importance of critical thinking in the decision making of the businesses. Table of Contents Abstract 2 Table of Contents 3 Introduction 4 Sekaran & Bougie Research Process 5 Analysis 8 Quantitative Methodology 16 Qualitative Methodology 16 Critical Thinking in Business Cases 17 Conclusion 17 References 19 Introduction Decision making is an important activity in the business world. It is required at all levels of the organization. Even the low level supervisor needs to make various decisions in everyday business activities. Decision making is encouraged at all levels where the business owners are mainly responsible for all the decisions being taken in the businesses. The decision making is mainly a cognitive process which results in choosing of courses of action amongst various alternative scenarios. In each and every decision making process there is a final choice and the output can be the resultant of the opinion or action of such choice. From the cognitive perspective, decision making is mainly a continuous procedure which can be incorporated in interaction with environment. From the normative perspective, it is the analysis of individual decisions associated with the logic in decision making and its rationality. It can be defined as the problem solving activity which gets terminated when satisfactory solution is obtained. The decision making procedure can be rational, irrational, on the basis of tactic assumption or explicit assumption. The business development always arises from collective decision making of the management along with the staff. The programs, strategies and policies are always converted into effective course s of actions by means of proper decision making. The progress in any organization from one particular success and performance level to another arises from the effective decision making. The efficiency in the management of any business enterprise increases along with the application of practical and progressive principles and policies. If these ideas are implemented within the processes of an organization it would result in the increase of efficiency followed by achievement of success in the market. Sekaran & Bougie Research Process According to Sekaran & Bougie (2010) the research process is a step by step process where all the steps are essential for achieving success in the research process. An analysis should always be based on the basis of each and every step presented in this research process. It states that the research analysis should present a comparative analysis of how nicely the authors of the chosen research study have fulfilled the research work. The focus of the analys is should lie in the research process more than on the research content. The analysis should deal with the obedience to the research process stated by Sekaran & Bougie. All the steps and sub steps act as the stepping stones in the research process. The research process is a step by step procedure comprising of eleven steps. While analysing, the research work should have the following contents Problem Statement Literature Review Generation or Development of