BUSINESS

RESEARCH
 Research can be defined as a “step-
by-step process that involves the
collecting, recording, analyzing and
Definition interpreting of information”.

of Research “Research is a systematic inquiry to

describe, explain, predict, and
control the observed phenomenon.
It involves inductive and deductive
methods.”
 INTRODUCTION OF BUSINESS RESEARCH

METHODS METHODOLOGY
the different ways by the approach and
which data can be strategy used to
collected and analyzed. conduct research
INTRODUCTION OF BUSINESS RESEARCH

Research is a process of
inquiry and investigation.

Research is a systematic
and methodical.

Research increases
knowledge.
INTRODUCTION OF BUSINESS RESEARCH

Research is conducted
with a purpose to:

➢ Identify potential and new

customers
➢ Understand existing customers
➢ Set pragmatic goals
➢ Develop productive market
strategies
➢ Address business challenges
➢ Put together a business expansion
plan
➢ Identify new business
opportunities
What are the characteristics of research?
1. Good research follows a systematic approach
to capture accurate data.
2. The analysis is based on logical reasoning and
involves both inductive and deductive
methods.
3. Real-time data and knowledge is derived from
actual observations in natural settings.
4. There is an in-depth analysis of all data
collected so that there are no anomalies
associated with it.
5. It creates a path for generating new questions.
Existing data helps create more research
opportunities.
6. It is analytical and uses all the available data
so that there is no ambiguity in inference.
7. Accuracy is one of the most critical aspects of
research.
 • Defined as ‘the systematic and
objective process of collecting,
recording, and analyzing and
interpreting data for an aid in
Definition solving managerial problems.

of Business • It is a set of process that include

planning, acquiring, analyzing,
Research and reporting relevant data,
information, and insights to
decision makers in ways that
mobilize the organization to take
appropriate actions.
 EXAMPLE OF BUSINESS RESEARCH

Business Aspect Research Issue

Consumer Behavior Buying habits, brand preferences, consumer attitudes

Human Resources Employee attitudes, staff retention, material incentives
Promotion Media research, public relations studies, product recall
through advertising
Product Test markets, concept studies, performance studies
Finance Forecasting, budgeting, efficiency of accounting
software