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Significance of Key Concepts in Business Research

Part 1: Short Answer

Part 1: Short Answer: Discuss in your own words, the significance of two of the following concepts (40%). A dictionary definition is not sufficient here; you must clearly explain the term from a research/methodology perspective. Not WHAT it is but HOW and WHY it is important to business research.
Part II: Essay/Case Studies: Answer Two of the following: 30 points each.

Complete sentences only; to get full credit please address each question and sub-question (60%)

1. Our second class of the year focused on Literature Review. Briefly, outline why literature review so important to the overall research process. Then, explain how we can apply the concept of literature review to our daily lives. Finally, what are some common pitfalls or problems we may encounter when gathering research materials?

2. Product or industrial Design is sometimes a rather interesting component of international trade research. Compare and contrast two cases in zoom class that consisted of primarily product or industrial design research. What did these companies do correct in this research? Conversely, what did these companies do wrong in this research?

3. According to CHNC’s Jim Cramer on January 15, 2015, target’s market entry to Canada was ‘the biggest blunder in the history of retail’. If you had a time machine, or TARDISand could go back to the period just before Target opened its stores, what specific type of research would you advise Target to undertake to prevent this disaster? Or, was Target’s miserable experience in Canada inevitable?  

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