In: Economics
The two BELLOW examples illustrate the benefits of research WHICH ONE IS AN EXAMPLE OF BAISIC RESEARCH, AND WHICH ONE AN EXAMPLE APPLIED RESEARCH EXAMPLE ONE Globally, colas account for more than 50% of all sodas sold. The challenge for the $187 billion soft drink industry is giving consumers in developed markets the sugary taste they want without giving them the mouthful of calories they don’t. Concerns about obesity and health have led to nine years of falling U.S. soda consumption. The soda giants can’t rely on existing diet versions of their namesake colas, as consumers are shying away from the artificial sweeteners they contain. Critics have blamed the ingredients – rightly or not – for everything from weight gain to cancer. Diet Coke is losing U.S. sales at 7% a year, almost double the rate of decline of American cola sales overall. So Coke and Pepsi are turning to research to save their cola businesses, which take in about two‐thirds of the industry’s U.S. sales. “If you can crack the perfect sweetener, that would be huge,” says Howard Telford, an analyst at researcher Euro monitor International.
EXAMPLE TWO Right from her days as a clerical employee in a bank, Sarah had observed that her colleagues, though extremely knowledgeable about the nuances and intricacies of banking, were expending very little effort to improve the efficiency and effectiveness of the bank in the area of customer relations and service. They took on the minimum amount of work, availed themselves of long tea and lunch breaks, and seemed unmotivated in their dealings with the customers and the management. That they were highly knowledgeable about banking policies and practices was clearly evident from their discussions as they processed applications from customers. Sarah herself was very hardworking and enjoyed her work with the customers. She always used to think what a huge waste it was for talented employees to goof off rather than to work hard and enjoy their work. When she left the bank and did the dissertation for her PhD, her topic of investigation was Job Involvement, or the ego investment of people in their jobs. The conclusion of her investigation was that the single most important contributory factor to job involvement is the fit or match between the nature of the job and the personality predispositions of the people engaged in performing it. For example, challenging jobs allowed employees with high capabilities to get job‐involved, and people‐oriented employees got job involved with service activities. Sarah then understood why the highly intelligent bank employees could not get job‐involved or find job satisfaction in the routine jobs that rarely called for the use of their abilities. Subsequently, when Sarah joined the Internal Research Team of a Fortune 500 company, she applied this knowledge to solve problems of motivation, job satisfaction,job involvement, and the like, in the organization