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Defining Research
Definition by Cooper Definition by Zikmund

Advanced Research Methods

Zaki Rashidi

Overview Lecture 1
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process of determining, Business Research may acquiring, analyzing, synthesizing, be defined as the and disseminating relevant systematic and objective business data, information, and process of gathering, insights to decision makers in recording and analyzing ways that mobilize the data for aid in making organization to take appropriate business decisions business actions that, in turn, (Zikmund, Business maximize business performance Research Methods, 2002, p. 6)
Advanced Research Method (Zaki Rashidi) 8/6/2012

More definitions
Research is the process of An organized, systematic,

Research involves ...

critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the propose of finding answers or solutions to it.

finding solutions to a problem after a thorough study and analysis of the situational factors.

Objectivity Precision Verification Parsimonious Explanation Empiricism Logical Reasoning

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Probabilistic Thinking

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Fields Where Business Research is Often Used (1)

Typical Users of Business Research Methods

Businesses and Corporations Public-Sector Agencies Consulting Firms Research Institutes Non-Governmental Organizations Non-Profit Organizations Independent Researchers and Consultants
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General Business Conditions and Corporate Research Short- & Long-Range Forecasting, Business and Industry Trends Global Environments Inflation and Pricing Plant and Warehouse Location Acquisitions Management and Organizational Behaviour Research
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Financial and Accounting Research

Total Quality Management Morale and Job Satisfaction Leadership Style Employee Productivity Organizational Effectiveness Structural ssues Absenteeism and turnover Organizational Climate
Advanced Research Method (Zaki Rashidi)

Forecasts of financial interest rate trends, Stock,bond and commodity value predictions capital formation alternatives mergers and acquisitions risk-return trade-offs portfolio analysis impact of taxes research on financial institutions expected rate of return capital asset pricing models credit risk cost analysis

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Fields Where Business Research is Often Used (2)

Sales and Marketing Research

Information Systems Research

Selected Examples of Real-Life Situations in Which Business Research Methods are Used
A firm wants to produce and market a new product but first wants to ascertain if there is a

Market Potentials Market Share Market segmentation Market characteristics Sales Analysis Establishment of sales quotas Distribution channels New product concepts Test markets Advertising research Buyer behaviour Customer satisfaction Website visitation rates

Knowledge and information needs assessment Computer information system use and evaluation Technical suppot satisfaction Database analysis Data mining Enterprise resource planning systems Customer relationship management systems Corporate Responsibility Research

potential consumer demand for this product in markets x,y and z

a multinational firm wants to establish a production facility in another country after

determining its technical and economic feasibility

A government agency wants to ascertain the satisfaction level of its employees, the causes for

Ecological Impact Legal Constraints on advertising and promotion Sex, age and racial discrimination / worker equity Social values and ethics

any possible discontent, and propose a scheme for enhancing this level
A financial institution wants to invest in commodities and commissions a study to determine

the past trends and forecast future returns in a portfolio of commodities

The CEO of a firm wants to undertake a SWOT-Analysis as part of his plan to redefine his

organizations priorities
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Four Functions of Research

Basic Research Applied Research

Basic and Applied Research

Basic Research aims to expand the frontiers of knowledge by verifying or disproving the acceptability of a given theory or attempting to discover more about a certain concept (non-specificity) Example: How does motivation affect employee performance? Applied Research focuses on a real-life problem or situation with a view to helping reach a decision how to deal with it (Specificity) Example: Should Corporation X adopt a paperless office environment?
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Action Research
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Evaluation Research

Action and Evaluation Research

Action Research aims to solve a problem in an organization or improve a situation. It is usually done by the intervention of the researcher. Usually it is implemented by the recommendations of the researcher and its results are refined further. Example: Will the flexi hours reduce the absenteeism at SZABIST? Evaluation Research focuses on evaluating a situation or practice like a project or any plan. It tries to find the success on a given parameters. Example: How much successful is the new marketing plan of P&G in promoting the company as CSR organization??
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Determining When to Conduct Business Research

Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes

Is the information already on hand inadequate for making the decision?

Yes

Is the decision Yes of considerable strategic or tactical importance?

Does the value of the research Yes information exceed the cost of conducting research?

Conducting Business Research

No

No

No

No

Do Not Conduct Business Research

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Value and Costs of Undertaking Business Research

Who Conducts Research?

VALUE

COSTS
Research Costs Delay in Making Business Decisions Disclosure of Information to Rivals Possibility of Error

Decreased Uncertainty Higher Likelihood of Correct Decisions Better Business performance Higher Profits Better Reputation

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Readings:
Chapter 1 of Zikmund Chapter 1 of Cooper & Schindler
http://managementhelp.org/businessresearch/ http://www.socialresearchmethods.net/tutorial/tutorial.htm

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