Is it possible to make sound managerial decisions without business research? What advantages does research offer to the decision maker over seat-of-the-pants decision making?

Q:1). Is it possible to make sound managerial decisions without business research? What
advantages does research offer to the decision maker over seat-of-the-pants decision
making?
Q:2). Define a marketing orientation and a product orientation. Under which strategic orientation
is there a greater need for business research?
Q:3). Define business research and describe its task.
Q:4). Which of the following organizations are likely to use business research? Why? How?
a. Manufacturer of breakfast cereals
b. Manufacturer of nuts, bolts, and other fasteners
c. SECP (The Securities and Exchange Commission of Pakistan)
d. A hospital
e. A company that publishes business textbooks
Q:5). An automobile manufacturer is conducting research in an attempt to predict the type of car
design consumers will desire in the year 2020. Is this basic or applied research? Explain.
Q:6). Critically comment on the following statements:
a. Managers are paid to take chances with decisions. Researchers are paid to reduce the
risk of making those decisions.
b. A business strategy can be no better than the information on which it is formulated.
c. The purpose of research is to solve business problems.
Q:7). List the conditions that help a researcher decide when research should or should not be
conducted.
Q:8). How do you believe the Internet has facilitated research? Try to use the Internet to find the
total annual sales for Starbucks, for DuPont, and for KFC.
Q:9). Discuss what research means to you and describe how you, as a manager, might apply the
knowledge gained about research.