Question.615 - For this discussion, imagine you've taken on the role of a manager at an engineering company. You've been approached by a supplier of goods—one you haven't worked with before. The supplier shows you the new software package it is launching in a few months, and it piques your interest. The demo of the new technology shows you how it could really help your team design and develop projects faster. It also includes many add-ons for items that your company is not currently working on, but that your intuition says it should be. The supplier's study says that 90 percent of your industry will be transitioning to this new technology in a couple of years, and that if your company doesn't move forward with it, you will fall behind. You are eager to grow revenue, develop your team, and wow your clients. The supplier says it is not making the new technology available to your competitors because it would prefer to partner with a prestigious company like yours. You think the supplier's representative is knowledgeable about the new technology and your industry, and you enjoy the conversations you've had, but you still feel uneasy about making a decision on whether to partner with this new supplier. In your initial post, address the following: What research steps need to take place before you can make a decision? How would you use qualitative or quantitative data to help you make a decision? Explain the difference between these two methods. How would you use primary and secondary sources to support your decision? Explain the difference between these two source types.
Answer Below:
The research steps required to take place before making a decision are collecting relevant information, identifying the decision, weighing the evidence, recognizing the alternatives, taking action, selecting among the alternatives as well as reviewing my decision and its causes as a whole. Collecting relevant information- Gathering some important information before making a decision as well as what information has been required, in what ways to get it along with the best source of action has been essential. Identifying the decision- It has been much more significant in making an effective decision as well. Weighing the evidence- Drawing out the information as well as emotions in imagining what it could be like in case one carried out the substitutes towards the end. Recognizing the alternatives- Since I gather information, I would possibly identify many probable paths of action or substitutes on the whole. Tacking action- It has been the right time now in taking some positive action by starting to introduce the alternative chosen at select among alternatives step as such. Selecting among the alternatives- Once every piece of evidence has been weighed, one gets ready to choose the alternative which appears to be the best one for him or her. Reviewing the decision and its causes- At this step, one needs to consider the outcomes of his or her decision as well as assess whether or not it has resolved the requirement they acknowledged at identifying the decision step (Bell & Waters, 2018). 2 Both quantitative data, as well as qualitative data, work in combination with one another in inspiring how such decisions have been made as a whole. In addition, qualitative data takes upon a much more efficient role at informing the largest decision-makers at any firm on the whole. Moreover, qualitative data demonstrates features of qualities as well as has been collected utilizing observation, interviews, questionnaires as well as often appears at descriptive form as well. The qualitative, as well as quantitative processes could be utilized in making proper decisions. The qualitative methods enable one to discover experiences as well as concepts more thoroughly while the quantitative methods enable one in measuring the test theory as well as variables systematically as such. Moreover, qualitative research deals with words as well as meanings whereas quantitative research deals with statistics as well as numbers as such (McCusker & Gunaydin, 2015). 3 The primary sources assist the candidates in relating in a specific way to incidents of the past as well as support a deeper understanding of history as a series of human incidents as a whole. In addition, a primary source provides a candidate with direct accessibility towards the subject of his or her research on the whole. Some of the examples of primary sources are reviews, journal articles as well as academic books. The secondary sources give second-hand information as well as commentary from other researchers as well. Moreover, the secondary sources have been closely linked to primary sources as well as often interpret as a whole. A secondary source produces as well as demonstrates the primary sources on the whole. The primary sources could be demonstrated as such sources which have been closest towards the origin of the information as well as contain raw materials while the secondary sources have been the documents which linked towards information that originated somewhere else as well. The primary sources have been the raw information one collects at research whereas the secondary sources assess the information from the primary sources as such (Vercellis, 2011). References Bell, J., & Waters, S. (2018). Ebook: doing your research project: a guide for first-time researchers. Mcgraw-hill education (uk). McCusker, K., & Gunaydin, S. (2015). Research using qualitative, quantitative or mixed methods and choice based on the research. Perfusion, 30(7), 537-542. Vercellis, C. (2011). Business intelligence: data mining and optimization for decision making. John Wiley & Sons.More Articles From Strategic Management
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