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Research Methods for Managerial decisions
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Managerial decisions based on the scientific research tend to be effective. Research is defined as 'an organized, systematic, data-based, critical, objective, scientific inquiry into specific problem that needs a solution'. Scientific research focuses on solving problems and follows a step-by-step logical, organized, and rigorous method to identify the problems, gather data, analyze them, and draw sound conclusions. The scientific decision is not based on hunches, experience, and intuition. Researchers draw comparable findings with accuracy and confidence for similar issues while analyzing the data. Scientific investigations are more objective than subjective. It helps the managers to identify the most important factors that need specific attention to solve the problem. Scientific investigation and managerial decision making are integral part of decision making. The term scientific research refers to both basic and applied research. Applied research is organized and it is a systematic process to carefully identify the problems, gathering data scientifically and analyzed and conclusions are arrived for effective problem solving in an objective manner.
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