Business Research Methods

Unit 1
 What is Research?

● For a common human being ‘research’ means

a detailed study of a subject especially in order
to discover (new) information or reach a new
findings.
● ‘Research is a careful inquiry or examination in
seeking facts or principles, a diligent
investigation to ascertain something’.
(Clifford Woody)
 Meaning of Research
Research is a process steps used to collect and
analyze information to increase our
understanding of a topic or an issue.
It consists of three steps:
1) Pose a question
2) Collect data to answer the question
3) Present an answer to the question
 Definition Of
Business Research
• An organized, systematic, data
based, critical, objective, scientific
inquiry or investigation into a
specific problem, undertaken with
the propose of finding answers or
solutions to it.
 Definition of Business
Research
• Research provides the needed information
that guides managers to make informed
decisions to successfully deal with
problems.
• The information provided could be the
result of a careful analysis of data gathered
firsthand or of data that are already
available (in the company).
 Objectives of Research

• To find out truth that is hidden.

• To gain familiarity with a phenomenon or to
archive new insists into the study.
• To understand/investigates the characteristics
of a particular Individual/groups situation(s).
• To formulate and test hypothesis that narrates
casual relationships between variables.
• To gate decision making through problem
solving.
 Purpose of Research

● To increase knowledge within a

discipline or an area of study.
● To increase knowledge as a
consumer of research and to
understand research within a
discipline or area of study.
 CHARACTERISTICS
1. originates with a question or problem.
2. requires a clear articulation of a goal.
3. follows a specific plan of procedure.
4. usually divides the principal problem into more
manageable subproblems.
5. guided by the specific research problem, question, or
hypothesis.
6. Accepts certain critical assumptions.
7. requires the collection and interpretation of data in
attempting to resolve the problem that initiated the
research.
8. by its nature, cyclical; or more exactly, helical.
 BASIC
RESEARCH

Types of Applied
research Research

QUALITATIVE
RESEARCH.
QUANTITATIVE
RESEARCH
 Exploratory Research

As the name suggests, exploratory researches are conducted to resolve ambiguity.

Differing mainly in design from descriptive research, exploratory research is used
principally to gain a deeper understanding of something.
Its role is to provide direction to subsequent and more structured and rigorous research.

A review of market opportunities available to a prospective entrepreneur; an informal

survey conducted to identify the problem in the supply chain of a product; different
ways that women professionals adapt to manage work-family conflict are examples of
this kind of research.

As can be seen, studies of this nature are less structured, more flexible in approach and
are not conducted to test or validate any preconceived propositions;

in fact exploratory research could lead to some testable hypotheses.

Some schools have also called them pilot or feasibility studies. It is the first step the
researcher takes into the unknown, to explore new frontiers which determine whether
a full-scale investigation is worthwhile.

Exploratory studies are also conducted to develop, refine or test the designed
measuring instruments.
 Conclusive Research
The findings and propositions developed as a consequence of exploratory research
might be tested and authenticated by conclusive research.

This kind of research study is especially carried out to test and validate formulated
hypotheses and specified relationships.
In contrast to exploratory research, these studies are more structured
and definite.
The variables and constructs in the research are clearly defined with explicit quantifiable
indications or simply, the variables can be denoted in the form of numbers that can be
quantified and summarized.

The timeframe of the study and respondent selection is more formal and representative.
The emphasis on reliability and validity of the research findings assume critical significance
as the concluded results might need to be implemented, in case it is an applied research
study.

For example,
if a research study has to be conducted to test the impact of a new data monitoring
programme on the inventory management system of a hearing aids’ manufacturer, then the
impact needs to be clearly discernible for the management to install the monitoring system.
Causal research
To address the need for establishing causality, there is another
kind of conclusive research study called causal research.
These studies establish the why and the how of a
phenomenon.
Causal research explores the effect of one thing on another
and more specifically, the effect of one variable on another.

They are highly structured and require a rigid sequential

approach to sampling, data collection and data analysis.
The design of the study takes on a critical significance here.

To establish a reliable and testable relationship between two

or more constructs or variables, the other influencing variables
must be controlled so that their impact on the effect can be
eliminated or minimized.
Descriptive research
As the name suggests, descriptive research is undertaken
to describe the situation, community, phenomenon,
outcome or programme. The main goal of this type of
research is to describe the data and characteristics about
what is being studied. The annual census carried out by
the Government of India is an example of descriptive
research. It is contemporary, topical and time-bound. It
addresses the establishment or exploration of a
formulated proposition.
THE PROCESS OF RESEARCH
 Types of Business
Research.

1. Applied research
• Is to solve a current problem faced by the
manager in the work setting, demanding a
timely solution.
2. Basic research (fundamental, pure)
• Is to generate a body of knowledge by trying to
comprehend how certain problems that occur in
organizations can be solved.
• The findings of such research contribute to the building
of knowledge in the various functional areas of business.
 Basic Research

It is the research which is done for knowledge enhancement

and for the welfare of human, animal and plant kingdom not
for commercial potential. The main motivation is to expand
man's knowledge, not to create or invent something. There is
no obvious commercial value to the discoveries that result
from basic research. Basic research lay down the foundation
for the applied research.

Examples of basic research in psychology might include: An

investigation looking at whether stress levels influence how
often students engage in academic cheating. A study looking
at how caffeine consumption impacts the brain. A study
assessing whether men or women are more likely to be
diagnosed with depression.
 Applied Research
Applied research is designed to solve practical problem
of the modern world. The goal of applied research is to
improve the human condition. It focus on analysis and
solving social and real life problems. It is conducted on
large scale basis and is expensive. Eg: improve
agriculture crop production, treat or cure a specific
disease, improve the energy efficiency homes etc.

Applied research can be further classified as:

1) problem oriented research
2) problem solving research.
Problem oriented research
Problem oriented research is done by industry
apex body for sorting out problems faced by all
the companies.
E.g:-
WTO does problem oriented research for
developing countries, in India agriculture and
processed food export development authority
(APEDA) conduct regular research for the benefit
of Agri-industry.
 Problem solving
Problem solving is type of research which is
done by an individual company for the problem
faced by it.

Eg:-
Videocon international conducts research to
study customer satisfaction level, it will be
problem solving research.
 QUALITATIVE
RESEARCH.
Qualitative research presents non-quantitative
type of analysis and is used for collecting,
analyzing and interpreting data by observing what
people do and say . It is much more subjective and
uses very different methods of collecting
information , mainly individual, in depth
interviews and focus groups. The nature of this
type of research is exploratory and open ended.
It can be further classified as:
1) Phenomenology
2) Ethnography
3) Case study
 Phenomenology
It is the type of research in which the
researcher attempts to understand how
one or more individuals experience a
phenomenon.
E.g.:-
We might interview 20 victims of Bhopal
tragedy.
 Ethnography
This type of research focuses on describing
the culture of a group of people. A culture is
the shared attributes, values, norms,
practices, language, and material things of a
group of people.

Eg:-
The researcher might decide to go and live
with the tribal in Andaman island and study
the culture and the educational practices
 Case study
It is the form of qualitative research that
is focused on providing a detailed
account of one or more cases.
Harshad Mehta Case
Ketan Parekh Case
 QUANTITATIVE
RESEARCH
This research aim to measure the quantity or
amount and compares it with past records and
tries to project for future period. The process of
measurement is central in it as it provides
fundamental connection between empirical
observation and mathematical expression of
quantitative relationships. Statistics is most
widely used in it.

Objective:
To develop and employ mathematical models,
theories or hypothesis pertaining to phenomena.
 Research and Scientific
Method

- Scientific methods are simple to understand, and

they are basically a way of thinking about problems
and their solutions. Scientific method is systematic,
logical and sequential process to prove existing
theories or establish new theories.

- Scientific method is the way researchers go about

using knowledge and evidence to reach objective
conclusions in the real world. Scientific method
prescribes procedures to determine and connect
theoretical statements relating to events.
Steps in Scientific
Method
Steps in Scientific
Method(Contd)
Characteristics of
Scientific Method
Objective: Scientists attempt to remove their bias, belief, preferences, wishes and
values from their scientific research. It means the ability to see and accept facts as
they are, not as one might wish them to be.
Empirical: Information or facts about the world based on sensory experiences.
That is direct observation of the world, to see whether scientific theories or
speculations agree with the facts.
Systematic: All aspects of the research process are carefully planned in advance
and nothing is done in a casual or haphazard fashion.
Replicable: Repeating studies numerous times to determine if the same results will
be obtained.
Predictive: Science is relating the present to the future.
Logical:It is purely based on sound ideas or theories
Sequential:It should be performed in particular order
Validity:Validity refers to the credibility or believability of the research. It is a
checkpoint that ensures whether researcher measures what he claims to measure?
Reliability:Reliability means if any other research repeats the experiment under
the same conditions will produce the same significant result.
Accuracy:Accuracy describes how closely the construct measures the concept.
 Formulation of Research Problem –
Management Question – research Question –
Investigation Question

DEFINING THE RESEARCH PROBLEM

The first and the most important step of the research process is
to identify the path of enquiry in the form of a research problem.

It is like the onset of a journey, in this instance the research

journey, and the identification of the problem gives an indication
of the expected result being sought.

A research problem can be defined as a gap or uncertainty in the

decision makers’ existing body of knowledge which inhibits
efficient decision making.

Sometimes it may so happen that there might be multiple

reasons for these gaps and identifying one of these and pursuing
its solution, might be the problem.
An Investigative question is a scientific
question posed for which you seek to find
and answer, either by designing an
experiment, testing an existing product or by
doing a survey.
 What is Good/Scientific Research?
• Purpose clearly defined
• Research process detailed(systematic and detailed plan for the investigation
of the problem)
• Research design thoroughly planned( selection of techniques of collecting
information, sampling plan and data analysis techniques must be supported by logical justifications).

• Limitations frankly revealed

• High ethical standards applied
 Criteria for good research
1) The aim of the research should be clearly mentioned,
along with the use of common concepts.
2) The procedures used in the research should be
adequately described, in order to permit another
researcher to repeat the research for further
advancement, while maintaining the continuity of what
has already been done.
3) The researches procedural design should be carefully
planned to obtain results that are as objective as
possible.
4) The flaws in the procedural design should be sincerely
reported by the researcher to correctly estimate their
effects upon the findings.
 Criteria for good research

5) The data analysis should be adequate to reveal its

significance.
6) The methods used during the analysis should be
appropriate.
7) The reliability and validity of the concerned data
should be checked carefully.
8) The conclusions are needed to be confined and
limited to only those data, which are justified and
adequately provided by the research.
9) In case, the researcher is experienced and has a good
reputation in the field of research, greater confidence
in research is warranted .
 Characteristics of Good
Research
Clearly defined purpose
Detailed research process
Thoroughly planned design
High ethical standards
Limitations addressed
Adequate analysis
Unambiguous presentation
Conclusions justified
Credentials
 Problems encountered
by researchers in India
1) Lack of Scientific Training.
2) Lack of Confidence:
3) Insufficient Interaction.
4) Lack of Code of Conduct.
5) Inadequate Assistance.
6) Improper Library Management.
7) High Cost of Publishing.
 Application of Research
in Various Functions of
Management
• Management Tool
– creating business strategies, managing
production and managing growth
• Shape Strategies
– Researching trends or tracking industry data
– Analyze consumer preferences
– need of further development
 Application of Research
in Various Functions of
Management
• Marketing Research:
– Product Research, Market Characteristics research,
Market Potential & Market Size Research
• Research in the Area of Govt. Policies &
Economic Systems
• Organization Behavior: Motivational Research
• Personnel & HRM Research
Motivation research is a term used to refer to a selection of qualitative research
methods that were designed to probe consumers' minds in order to discover the
subconscious or latent reasons and goals underlying everyday consumption and
purchasing behaviors.

personnel research can be defined as a systematized investigation into the

matters of employees with an objective to solve their problems. ... According
to Dale Yoder, “personnel research implies searching, investigation, re-
examination, reassessment and revaluation”.
• Why is it important for
managers to know about
research?
 Manager and researcher.

• Solve problems
• Decision making tool
• Competition
• Hire researchers and consultants more
effectively
 Ethics and Business Research

• Ethics in business research refers to a code

of conduct or expected societal norm of
behavior while conducting research.
• Ethical conduct applies to the organization
and the members that sponsor the
research, the researchers who undertake
the research, and the respondents who
provide them with the necessary data.
 Research Ethics

• Research ethics refers to a complex set of values,

standards and institutional schemes that help to
constitute and regulate scientific activity.
• Ultimately, research ethics is a codification of ethics of
scientific research.
• It is based on general ethics of scientific research, just
as general ethics is based on commonsense and
morality.
• Research must be regulated by ethical standards and
values, at least where there is disagreement about
which ethical standards apply?
 Research Ethics

• Views about what is ethical are not entirely

clear in some fields.
• Confusion and conflicts can arise.
• In such cases, the research community bears a
special responsibility for helping to clarify
ethical problems.
 Traits
In favor mankind & Environment
• In terms of your own research project, a good place to begin might
be to adopt the first maxim of the Hippocratic Oath, above all, ‘do
no harm’, as highlighted by Professor Rakesh Khurana. In designing
and carrying out your research, you must Endeavour, above all, to do
no harm.
Integrity (the quality of being honest and having strong moral principles)
• A second or allied basic tenet of research ethics is integrity. The
value of every aspect of the research project is predicated upon the
integrity of the researcher. In the final analysis, the reader of the
research must be able to trust that the researcher actually carried
out the research as they say they did.
Plagiarism free
• Plagiarism is a most serious offence. It is the presentation of
somebody else’s work as your own.
 Traits
Validity
• The research project must be a valid research project. The concept
of validity in research is a question of how logical, truthful, robust,
sound, reasonable, meaningful and is useful the research. In order
to be valid, a research project must make a contribution to
knowledge. The evidence gathered for a research project must be
valid.
Transparency
• If you openly, honestly and clearly communicate your research with
everyone involved in the project, including your research supervisor,
the gatekeepers and the participants in your research, you are likely
to uncover potential harms before they become harmful. Once you
have uncovered them, you can take steps to ensure that they are
neutralized or rendered harmless.
 Formulation Of Research Problem

• What makes a good research problem?

– Research Questions for Theory Development
– Research Questions for Practical Application
• Turning research problems into testable hypotheses

• What is a problem?
– “an interrogative sentence or statement that asks:
What relation exists between two or more
concepts?”
– A problem can be restated in one or more ways to
produce testable hypothesis.
– A good research problem often produces more
than one testable hypothesis.
Characteristics of good research problems
• Should state the concepts or variables to be
related clearly and unambiguously
• Should be testable
• Should be feasible, given resources
Three Specific Criteria for a Research Problem
• What are we going to learn as the result of the
proposed project that we do not know now?
• Why is it worth knowing?
• How will we know that the conclusions are
valid?
Research Proposal
 RESEARCH PROPOSAL

• Any study should have a proper proposal

in written form before it is actually
carried out
• It is like a blue print of a building plan
before the construction starts
• Writing a research proposal is both
science and art
• A good research proposal is based on
scientific facts and on the art of clear
communication
 Writing a formal research proposal should
be started by the time one has decided on
the topic for the study
Research Proposal
• Research proposal is work plan/ outline of research or
methodology of research. It describes the procedure to
carry out the research.
• It is road map which directs or guides the researcher.
Alternatively it is also termed as statement of intent
draft plan, work plan or prospectus.
• It is intended to convince others about the value of the
research. Generally, a research proposal should contain
all the key elements involved in the research process
and include sufficient information for the readers to
evaluate the proposed study.
 OUTLINE OF A RESEARCH
PROPOSAL

• Objective
• Introduction
• Background /Review of literature
• Methodology
• Time frame and work schedule/Gantt
chart
• Personnel needed / available
• Facilities needed / available
• Budget
 Objectives
• This is a very important and pivotal section
and everything else in the study is centered
around it
• The objective of the proposed study should be
stated very clearly
• The objective stated should be specific,
achievable and measurable
• Too many objectives to be avoided
• Even just one clearly stated relevant objective
for a study would be good enough
• If there is more than one objective the
objectives can be presented in the appropriate
order of importance
 Introduction
• The problem proposed to be studied
is introduced in this section
• It should help the reader to acquaint
with the topic
• Introduction should be short about one
or two pages
• The problem should be stated in such a
way that it’s importance and relevance
is realized by any one who reads it
 Background
(Review of Literature)
• This section reflects extensive review of literature done by
the investigator
• In this section what is already known about the topic is
written including the lacunae
• Just quoting the literature verbatim will not serve the
purpose
• It is important to make it coherent, relevant and easily
readable knowledge
• It helps the investigator to gain good knowledge in that
field of inquiry
• It also helps the investigator to have insight on different
methodologies that could be applied
 Research methodology

Research methodology is a way to

systematically solve the research problem. It
may be understood as a science of studying
how research is done scientifically
• It is necessary for the researcher to know
not only the research methods/techniques
but also the methodology.
• Researchers not only need to know how to
develop certain indices or tests and how to
calculate the mean, the mode, the median
or the standard deviation or chi-square etc.,
It is essential to discuss procedures clearly
and completely with considerable
amount of details
• Study design
• Study population / Sampling
specifications
• Sample size needed
• Instrumentation
• Specific procedures
 Study design

Definition: A study design is a specific plan

or protocol for conducting the study, which
allows the investigator to translate the
conceptual hypothesis into an operational
one.
• The study design should be clearly
stated
• The study design to be used should
be appropriate for achieving the
objective of the study
Study population / Sample specifications
• It is important to describe which would be
the study population
• How study subjects would be selected,
randomization process and other details
should be given
Sample size
It is important to mention in the protocol what
would be the minimum sample required and how
it is arrived
 Determination of sample size is a
bargain between precision and the
price (Resources & expenses involved)
Description of process
• Proposal should include the details of all process
to be adopted in the study
• How exposures, outcome variables and other
variables are going to be measured should be described in
detail
• A brief description of how the data will be processed
and use of statistical package if any should be given
• What statistical tests of significance would be used?
 Time Frame & Work
Schedule
The proposal should include the sequence of
tasks to be performed, the anticipated length
of time required for its completion and the
personnel required
• It can be presented in tabular or graphic
form (Gantt chart)
• Flow charts and other diagrams are often
useful for highlighting the sequencing and
interrelationship of different activities in the
study
 Facilities

The proposal should also include the

important facilities required / available
for the study namely computers, laboratories,
special equipment etc
 Personnel

• Proposal should include who are the

primary investigators and co- investigators,
their qualifications, research experience etc
• The proposal may also include the Major
roles to be taken up by different investigators
 Budget

• The budget translates project activities

into monetary terms
• It is a statement of how much money will
be required to accomplish the various tasks
 Budget
Major items
• Salary for staff
• Travel
• Purchase of equipment
• Printing / Xeroxing
• Consultancy charges
• Institutional overheads