Research Methods For Business: A Skill Building Approach, 7th Edition by Uma Sekaran solution manual
Davy raised an eyebrow. “I didn’t. But what I do know”, he replied, “is that only fifty years after the death of Cornelius Vanderbilt, who created a fortune in railroads and shipping, several of his direct descendants were flat broke. Apparently the Vanderbilts had both a talent for acquiring and spending money in unmatched numbers.”
Davy leaned in closer toward his father. “Seriously dad, I do believe that strong family values are very important but I also feel that they may place restraints on the development of the company. It is commonly known that familism in Southern Italy is one of the main reasons for the slower economic development of the south relative to the north.”
Luc sighed and looked at his son. “So, what does this all mean?”
“Well, I think that the key question is whether family firms evolve as an efficient response to the institutional and market environment, or whether they are an outcome of cultural norms that might be harmful for corporate decisions and economic outcomes”, Davy replied with a gentle smile. “Don’t you think so?”
“I … um … I guess I do.” Luc smiled back at his son. “I am not sure that I understand what you mean, but it sounds great. Let’s throw some money at it and hire a consultant who knows something about this. I’ll call McKinsey first thing tomorrow morning. Cheers.”
“Cheers dad”, Davy echoed lifting his glass.
Two weeks later, Paul Thomas Anderson, a senior McKinsey consultant, put forward the following problem statement in a meeting with Luc Laroche: What are the implications of family control for the governance, financing, and overall performance of the Laroche Candy Company?
Questions
- What is business research?
- Why is the project that Paul Thomas Anderson is doing for The Laroche Candy Company a research project?
- Which steps will Paul take now that he has clearly defined the problem that needs attention?
- Luc Laroche has decided to hire an external consultant to investigate the problem. Do you think that this is a wise decision or would it have been better to ask his son Davy or an internal consultant to do the research project?
- What can (or should) Luc do to assist Paul to yield valuable research results?
- How can basic or fundamental research help Paul to solve the specific problem of The Laroche Candy Company?
- Try to find relevant books, articles, research reports and this issue. Use, among others, electronic resources of your library and/or the internet.