08/06/2022

Research
Introduction to 
Business Research
Research is formalized curiosity.
It is poking and prying with purpose.
by (Hurston)
Dr. Anoop Kumar Gupta
MAIT
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Definition of Business Research

Business Research
Business research is the systematic and objective
 identification
A process of determining, acquiring,
 collection
analyzing, synthesizing, and disseminating
relevant business data, information, and  analysis

insights to decision makers in ways that  dissemination

mobilize the organization to take  and use of information

appropriate business actions that, For the purpose of improving decision making related to the

in turn, maximize business performance  identification and

 solution of problems and opportunities in business

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Business Research
• Specifies the information necessary to
address these issues
• Manages and implements the data
collection process
• Analyzes the results
• Communicates the findings and their
implications
• Helps managers use this information to
make decisions
Business Research
• Research information is neither intuitive nor
haphazardly gathered.
• Literally, research (re-search) -“search again”
• Business research must be objective
• Detached and impersonal rather than biased
• It facilitates the managerial decision process for
all aspects of a business.
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Business Research Defined
Business research is defined as: the systematic
and objective process of generating information
for aid in making managerial decisions.
This process includes:
► Specifying what information is required;
► Designing the method for collecting information;
► Managing and implementing the collection of data;
► Data analysis and information extraction from data;
► Communicating the findings and their implications.
The Nature of Business Research
Business research is one of the principal
tools for answering questions because it:
• provides you with the knowledge and skills
needed for the fast-paced decision-making
environment
• generates, refines, and evaluates managerial
actions
• monitors business performance
• underlines the understanding of business as a
process
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Redefining Business Research

INFORMATION I don’t
know if we Used to identify and
define business
REDUCES should opportunities and
enter the problems
Indian
UNCERTAINTY Market.
Generate, refine, and
evaluate business
performance
Monitor business
performance

Improve understanding
of business as a process

Hierarchy of Business Decision Makers

Research Should Reduce Risk

The primary purpose of research is to

Visionaries
reduce the level of risk of a business Visionaries

decision
Standardized
Decision Makers

Intuitive Decision Makers

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Misconception of the role of business

Why Perform Business Research? research
Business research does not make decisions

Business ►The role of business research is not to make 
research provides decisions. 
information to
►Rather, research replaces hunches, impressions 
guide business
or a total lack of knowledge with pertinent 
decisions
information.

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Misconception of the role of business

Some facts about business research
research
Business research does not guarantee success ► The overall purpose of business research is to assess 
► Research, can improve the chances of making a  information needs and provide the relevant 
correct decision.  information in a systematic and objective manner to 
improve managerial decision making. 
► Anyone who expects to eliminate the possibility of 
failure by doing research is both unrealistic and likely  ► Business research may be classified into problem 
to be disappointed.  identification research and problem‐solving research.
► Business research can analyze past happenings. 
► The real value of research can be seen over a long 
period where increasing the percentage of good  ► Information can be generated to aid in decision‐
decisions should be manifested in improved bottom‐ making but no research can tell you what is going to 
line performance and in the occasional revelation  happen. 
that arises from research.
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The Scientific Method Research Types

Direct observation

Clearly defined variables

Clearly defined methods

Empirically testable

Elimination of alternatives

Statistical justification

Self-correcting process

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Types of Research Basic Research

• Attempts to expand the limits of

knowledge
 Basic Research
• Not directly involved in the solution to a
pragmatic problem
 Applied Research
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Basic Research Example Applied Research

• Is executive success correlated with high need for • Conducted when a decision must be made
achievement? about a specific real-life problem
• Are members of highly cohesive work groups
more satisfied than members of less cohesive
Examples
work groups?
• Should McDonalds add Italian pasta dinners to its
• Do consumers experience cognitive dissonance in
menu?
low-involvement situations?
• Should Toyota add electric vehicles to its product
line in India?

Scientific Method Types of Research Studies

• The analysis and interpretation of

empirical evidence (facts from
observation or experimentation) to
confirm or disprove prior conceptions. Reporting Descriptive

Explanatory Predictive

The Decision-making Process
Associated with the Development and
Implementation of a Strategy
• Identifying problems and opportunities
• Diagnosis and assessment
• Selecting and implementing a course of action
• Evaluating the course of action
Performance-monitoring Research
• Research that regularly provides feedback for
evaluation and control
• Indicates things are or are not going as planned
• Research may be required to explain why
something “went wrong”
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Evaluation Research
• Evaluation research is the formal, objective
measurement and appraisal of the extent to
which a given activity, project, or program has
achieved its objectives.
Major Topics for Research in Business
• General Business Conditions and
Corporate Research
• Financial and Accounting Research
• Management and Organizational Behavior
Research
• Sales and Marketing Research
• Information Systems Research
• Corporate Responsibility Research
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Classification (Application) of Business Research Some facts about business research

Problem-Identification Research ►Problem identification uncovers 

• Research undertaken to help identify problems which are
not necessarily apparent on the surface and yet exist or
the problem that exists or may 
are likely to arise in the future. For example in marketing
research it would include market potential, market share,
arise in future.
image, market characteristics, sales analysis,
forecasting, and trends research. ►Problem‐solving uncovers the 
means to solve the problem.
Problem-Solving Research
• Research undertaken to help solve specific business
problems. For example in marketing research it would
include segmentation, product, pricing, promotion, and
distribution research. 30

What is Good Research? What is Good Research? (cont.)

Following the standards of the scientific Following the standards of the scientific
method method (cont.)
– Purpose clearly defined – Adequate analysis for decision-maker’s
– Research process detailed needs
– Research design thoroughly planned – Findings presented unambiguously
– Limitations frankly revealed – Conclusions justified
– High ethical standards applied – Researcher’s experience reflected
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Characteristics of Good Research Business Planning Drives

Business Research
Clearly defined purpose
Detailed research process
Thoroughly planned design Organizational Business
High ethical standards Mission Goals
Limitations addressed
Adequate analysis
Unambiguous presentation Business Business
Strategies Tactics
Conclusions justified
Credentials
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Information Sources Sources of Business Intelligence

Decision Support Business Intelligence
Systems Systems
Numerous elements of Ongoing information Government/
Competitive
Regulatory
data organized for collection
retrieval and use in Focused on events,
business decision trends in micro and
Demographic Economic
making macro-environments Business
Intelligence
Stored and retrieved via
– Intranets
– Extranets Technological Cultural/
Social

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Determining When to Conduct Determining When to Conduct 

Business Research Business Research
Availability of Data Benefits
Time Constraints Nature of the Decision vs. Costs
Is the infor- Does the value
• Time Constraints Is sufficient time
available before
Yes mation already Yes
Is the decision
of considerable
Yes of the research Yes Conducting
a managerial
on hand
strategic
information Business
inadequate exceed the cost
• Availability of Data decision
must be made?
for making
or tactical
importance?
of conducting Research
the decision? research?

• Nature of the Decision

• Benefits versus Costs No No No No

Do Not Conduct Business Research

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Value versus Costs Value Should Exceed Estimated 

Costs
• Potential Value of a Business Research Effort  Costs
Should Exceed Its Estimated Costs Value •Research
expenditures
•Decreased certainty •Delay of business
•Increased likelihood
decision and
of a correct decision
possible disclosure
•Improved business
of information to
performance and rivals
resulting higher •Possible erroneous
profits
research results

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business Research Suppliers & Services

Research May Not Be Necessary
RESEARCH
INTERNAL SUPPLIERS
EXTERNAL
Can It Pass These Tests?
• Can information be applied to a critical 
decision? FULL SERVICE LIMITED SERVICE
• Will the information improve managerial  Syndicate Internet
Field Other
decision making? Services Services
Services Services

• Are sufficient resources available? Standardized Customized Focus Groups

Services Services Technical
and Qualitative and Analytical
Services Services

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The Research
Process

THANK YOU

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