Chapter 4: Business related information

Question 1

What is data ?

Answer 1

Data is raw information . Data refers to the collection of production figures ,sales numbers and other details that does not yet have meaning when decisions need to be taken .

Question 2

What is information ?

Answer 2

Information is data that has been processed .

Question 3

Why is information more meaningful than data ?

Answer 3

Information is data that has been processed . Information is valuable in the business if it provides meaningful information to decision makers.

Question 4

What is primary research ?

Answer 4

Primary research is orginal research done by the business or an individual .

Question 5

Name 3 Examples of primary research ?

Answer 5

Interviews , Questionnaires and Surveys

Question 6

What is secondary research ?

Answer 6

Secondary research is data that is already available because it has been collected by another researcher.

Question 7

Name 3 Examples of secondary research

Answer 7

Government agencies , trade assosiations and research that has been previously done by the business

Question 8

What is plagiarism ?

Answer 8

Plagiarism involves copying someone elses work and claiming it as your own without acknowledging the source .

Question 9

Name the 4 factors that need to been done to achieve ethics in research

Answer 9

1. The business often has to get permission from the people who are being studied or researched

2.Its important that the research is aware of how the data has been gathered is used and that the source of data is protected

3. Research has to be objective when conducting research .
4. Research has to be accurate and true refection of the surveys or Questionnaires and support the hypothesis of the business or researcher

Question 10

What is the difference between objective and subjective research

Answer 10

Objective research is based on facts whereas subjective research is based on opinions .