ACLC COLLEGE OF ORMOC

Lilia Avenue., Brgy. Cogon, Ormoc City

Business Department

MODULE 1A: OVERVIEW OF BUSINESS RESEARCH

OBJECTIVES:

At the end of the lesson student is expected to:

✓ Define business research;
✓ Identify and differentiate the two (2) basic methods of business research ;
✓ Enumerate the types of quantitative research methods; and,
✓ Enumerate the types of qualitative research methods.

LESSON CONTENT

A. Business Research Defined

Business research can be described as an organized, systematic, data-based, critical, objective, scientific
inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or
solutions to it. In essence, 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,
industry, archives, etc.).

Business research is also a process of acquiring detailed information of all the areas of business and using
such information in maximizing the sales and profit of the business. Such a study helps companies
determine which product/service is most profitable or in demand. In simple words, it can be stated as
acquisition of information or knowledge for professional or commercial purpose to determine
opportunities and goals for a business.

B. Types of Business Research Methods

Business research is a part of business intelligence process. It is usually conducted to determine whether
a company can succeed in a new region, to understand their competitors, or to simply select a marketing
approach for a product. This research can be carried out using:
(a) Quantitative research methods; or,
(b) Qualitative research methods.

1. Quantitative Research Methods

Quantitative research methods are research methods that deal with numbers. It is a systematic empirical
investigation using statistical, mathematical or computational techniques. Such methods usually start
with data collection and then proceed to statistical analysis using various methods.

The following are some of the quantitative research methods:

1. Survey research. It is one of the most widely used method to gather data especially for
conducting business research by asking various survey questions to a set of audience through
various types like online polls, online surveys, questionnaires, etc.

2. Correlational research. It is conducted to understand relationship between two entities and what
impact each one of them have on the other. Using mathematical analysis methods, correlational
research enables the researcher to correlate two or more variables. Such a research can help

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BUSINESS RESEARCH IRINA R. LAMBONAO, MBA, LPT
 understand patterns, relationships, trends, etc. Manipulation of one variable is possible to get
desired results as well. Generally, conclusion cannot be drawn only on the basis of correlational
research.

3. Causal-Comparative research. It is a method based on comparison. It is used to deduce cause-

effect relationship between variables. Sometimes also known as quasi experimental research, it
involves establishing an independent variable and analyzing the effects on the dependent
variable. In such a research, manipulation is not done; however changes are observed on the
variables or groups under the influence of same changes.

4. Experimental research. It is based on trying to prove a theory. Such a research may be useful in
business research as it can let the product company know some behavioral traits of its consumers,
which can lead to more revenue. In this method, an experiment is carried out on a set of audience
to observe and later analyze their behavior when impacted with certain parameters.

5. Online research / Literature research. It involves gathering information from existing documents
and studies which can be available at libraries, annual reports, etc. An individual can directly
research online for any information that is needed, which will give him an in-depth information
about the topic or the organization.

2. Qualitative Research Methods

Qualitative research involves obtaining data through open ended conversational means of
communication. Such a research enables the researcher to not only understand what the audience thinks
but also why he thinks it. In such a research, in-depth information can be gathered from the subjects
depending on their responses.

The following are various types of qualitative research methods:

1. Interview. It is somewhat similar to a survey, but it differs from the latter as the respondent can
answer these open ended questions at a length and the direction of the conversation or the
questions being asked can be changed depending on the response of the subject. Such a method
usually gives the researcher, detailed information about the perspective or opinions from its
subject. Carrying out interviews with subject matter experts can also give important information
critical to some businesses.

2. Focus group. It is a set of individuals selected specifically to understand their opinions and
behaviors. It is usually a small set of group which is selected keeping in mind, the parameters for
their target market audience to discuss a particular product or service. Such a method enables a
researcher with a larger sample than the interview or a case study while taking advantage of
conversational communication.

3. Ethnographic research. It is one of the most challenging research but can give extremely precise
results. Such a research is used quite rarely, as it is time consuming and can be expensive as well.
It involves the researcher to adapt to the natural environment and observe its target audience to
collect data. Such a method is generally used to understand cultures, challenges or other things
that can occur in that particular setting.

4. Case study research. It is conducted to assess the customer satisfaction, the document the
challenges that were faced and the solutions that the firm gave them. Using these inferences are
made to point out the benefits that the customer enjoyed for choosing their specific firm.

5. Website visitor profiling/research. It is an innovative approach to collect direct feedback from

your website visitor using surveys. In recent times a lot of business generation happens online
and hence it is important to understand the visitors of your website as they are your potential
customers.

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BUSINESS RESEARCH IRINA R. LAMBONAO, MBA, LPT
ACLC COLLEGE OF ORMOC
Lilia Avenue., Brgy. Cogon, Ormoc City

Business Department

ASSESSMENT

Questions 1A

1. What is business research?

2. What are the two (2) types of business research methods, and their differences?
3. How do you differentiate a quantitative business research method from qualitative BRM?
4. What are the two (2) types of Business Research, and their description?

SUPPLEMENTAL MATERIALS AND REFERENCES

Bhat, Adi. Business Research: Definition, Methods, Types and Examples. QuestionPro, 2019.
https://www.questionpro.com/blog/business-research/#Quantitative_research_methods

Sekaran, Uma. A Skill-Building Approach. IAEAR, 2003. https://iaear.weebly.com/uploads/

2/6/2/5/26257106/research_methods_entiree_book_umasekaram-pdf-130527124352
phpapp02.pdf

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BUSINESS RESEARCH IRINA R. LAMBONAO, MBA, LPT