DISCUSSION FORUM 4
Do you believe that leaders in all fields are increasingly relying on the results of research to make important decisions? Why or why not, and how? Provide examples.
DISCUSSION FORUM 4
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Discussion Forum 4
Yes, I do believe that leaders are increasingly using research results to make important decisions. This is because there is an ongoing norm of continuous assessments, evaluations, and surveys that most companies currently undertake to facilitate decision-making. These assessments and surveys give vital information from within and outsides these companies to be used to inform their decisions (Rhyn, Leimeister, & Riedl, 2020). Most companies are increasing their expenditure on research and development to determine the best step to take next. For instance, Amazon spent $42.74 billion in research and development in fiscal 2020 (11.1% of net sales) (Bajpai, 2021). This is a considerable increase compared to the $35.93 billion for fiscal 2019. This is also seen with Apple which increased its R&D allocation from $18.75 billion in fiscal 2021 to $10.42 billion in the fiscal year 2020 (Bajpai, 2021).
These research studies provide vital insights to leaders on what might work best for them and what might not work since they get to learn from empirical trials. Leaders get involved in these studies by reading research articles and picking their recommendations. There all conduct their own studies using their employees and assets to make informed decisions (Rhyn, Leimeister, & Riedl, 2020). Leaders can also contact some firms that conduct research activities to generate reliable study findings. Most commonly, companies conduct periodic assessments and evaluations of various aspects of the firm to enable them to understand the dynamic of the company and its environment and respond to them accordingly. These strategies provide practical information that leaders used to give way forward (Rhyn, Leimeister, & Riedl, 2020). The information given in a research study is provided by many people with various people to enable the making of widely agreeable decisions.
References
Bajpai, P. (2021). Which Companies Spend the Most in Research and Development (R&D)? , Nasdaq, Inc. https://www.nasdaq.com/articles/which-companies-spend-the-most-in-research-and-development-rd-2021-06-21
Rhyn, M., Leimeister, J. M., & Riedl, C. (2020). Improving Decision Making in Crowdsourcing. St. Gallen 2