Bus 101: Information Literacy

Question 1

Primary research

Answer 1

new research collected by you; carried out to answer specific issues or questions; involves interviews, questionnaires, surveys for individuals or small groups.

Question 2

Secondary research

Answer 2

information previously researched for other purposes & publicly available, not initially collected by you.

Question 3

CRAAP

Answer 3

currency, relevance, accuracy, authority, purpose

Question 4

CRAAP: Currency

Answer 4

is this info up to date, or the date you need?

Question 5

CRAAP: Relevance

Answer 5

is it directly related to your topic?

Question 6

CRAAP: Accuracy

Answer 6

can you verify this information?

Question 7

CRAAP: Authority

Answer 7

does the author know what they are talking about?

Question 8

CRAAP: Purpose

Answer 8

why did they write this?

Question 9

Industry

Answer 9

a specific group of companies or businesses within a sector.

Question 10

Sector

Answer 10

a large segment of the economy.

Example: Hospitality Sector

Question 11

Use google for…

Answer 11

government websites, product information, press releases

Question 12

Use the library for…

Answer 12

articles and news, market research reports, industry research reports, investment reports, books.

Question 13

Bibliographic research

Answer 13

Databases that bring together a variety of academic, professional, and news articles. In business, these databases may also include reports.

Question 14

Non-bibliographic research

Answer 14

Databases that bring together a variety of reports, data, and statistics. These databases are organized slightly differently and don’t always contain articles.

Question 15

Harvard Business Review

Answer 15

presents analyses of management problems and helpful commentary on advanced thinking and practice in all fields of management and administration.

Question 16

Industry trade associations and publications

Answer 16

can be very useful in that they are usually written by practitioners and are specialized in one sector, industry, or sub-industry.

Question 17

Market research

Answer 17

information about customers, competitors and emerging trends that helps companies make strategic planning decisions about marketing and selling their products and services.

Question 18

Consumer characteristics

Answer 18

Information about consumers of particular products/services (i.e. age, income, education, preferences, and spending patterns). This information is used to determine WHO your market is.

Question 19

Demographic statistics

Answer 19

Used to help determine the SIZE of your market. (i.e. how many people in Edmonton match the consumer characteristics of your product/service).

Question 20

TAM SAM SOM

Answer 20

Total available market (who can potentially buy), serviceable available market (who can my product reach), serviceable obtainable market (who are the most likely buyers).