WHY STUDY

RESEARCH
METHODS

Why conduct Research?

Research provides you with the knowledge and skills

needed for the fast-paced decision-making environment

Minimizes the uncertainties of making decisions by
reducing the risks and errors
Decisions based on analyzing from good relevant information

Why Researchers and Managers need

Better Information
Global and domestic competition is more vigorous

Economic issues and challenges are more complicated

Organizations and Institutions are increasingly practicing
data mining
data warehousing
primary data collection

Value of acquiring Research Method

Skills
To gather more information before selecting a course of

action
To do a high-level research study
To understand research design
To evaluate and resolve a current
management dilemma
economic issue

To establish a career as a research specialist

Types of Studies Used to do Research

Reporting
Descriptive

Explanatory
Predictive

Different Styles of Research

Fundamental/Basic Economic Research
Marketing Research
Business Research

Management Research
Applied Economic Research
Techno-economics Research

What is Good Research?

Following the standards of

the scientific method

Purpose clearly defined
Research process detailed
Research design thoroughly

planned
High ethical standards applied
Limitations frankly revealed

What is Good Research?

Following the standards of the

scientific method (cont.)

Adequate analysis for decision-

makers needs
Findings presented unambiguously
Conclusions justified
Researchers experience reflected

Discussion Question

Why do you think research is

important in business?