Copyright Dorling Kindersley India Pvt.

Ltd

p
a
Ch

1
r
te

Business Research Methods:

An Introduction

Business Research Methods: An Introduction

Learning Objectives
Copyright Dorling Kindersley India Pvt. Ltd

Upon completion of this chapter, you will be able

to:
Understand the difference between basic and applied
research
Define business research
Understand the roadmap to learn business research
methods
Learn how business research methods can be used as
a decision making tool by the managers
Understand the business research process
Get a preliminary idea about the use of software for
data preparation and data analysis

Business Research Methods: An Introduction

Introduction

Business researchers systematically collect,

compile, analyze, and interpret data to
provide quality information based on which a
decision maker will be able to take a decision in an
optimum manner.
Conducting research to deal with any problem is a
scientific,
systematic,
and
interlinked
exercise, which requires sound experience and
knowledge.

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

Copyright Dorling Kindersley India Pvt. Ltd

Difference Between Basic and

Applied Research
Basic research is generally not related to a
specific problem and its findings cannot be
immediately applied.
Applied research directly addresses the
problem at hand. Applied research is launched by
the firm, agency, or individual facing a specific
problem.

Business Research Methods: An Introduction

Defining Business Research

Business research method is a systematic and

scientific
procedure
of
data
collection,
compilation, analysis, interpretation, and
implication pertaining to any business problem.
Business research is defined as the systematic and
objective process of gathering, recording, and
analyzing data for aid in making business decisions
(Zikmund, 2007).
Cooper and Schindler (2009) define business
research as a systematic enquiry that provides
information to guide managerial decisions.

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

Copyright Dorling Kindersley India Pvt. Ltd

Roadmap to Learn Business

Research Methods

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

Business Research Methods:

A Decision Making Tool in the
Hands of Management
Decision making is always a crucial part of any
organizational functioning.
In the field of business research, this valuable
information is obtained using the following
interrelated steps:
1. Problem or opportunity identification
2. Diagnosing the problem or opportunity
3. Executing business research to explore the
solutions
4. Implement presented solutions
5. Evaluate the effectiveness of decision making

Business Research Methods: An Introduction

1. Problem or Opportunity Identification

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

Any delay in problem identification and solution

implementation; and the opportunity identification
and encashment may become harmful to the
organization.

2. Diagnosing the Problem or Opportunity

Organizations
present
these
problems
or
opportunity scenarios to business researchers.
Business researchers actually diagnose the problem
or opportunity.
Diagnosing involves exploring the situation to have
a better insight about the situation.

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

Copyright Dorling Kindersley India Pvt. Ltd

3. Executing Business Research to

Explore the Solution
After the identification and diagnosis of the
problem, business researchers systematically
conduct research to present a solution.

Business Research Methods: An Introduction

10

4. Implement Presented Solution

Business
researchers
conduct
research
in
consultation with the decision makers of the
concerned organization. The findings are presented
to the decision maker and he or she analyzes these
findings in the light of his or her decision range.

Business Research Methods: An Introduction

Copyright Dorling Kindersley India Pvt. Ltd

11

Copyright Dorling Kindersley India Pvt. Ltd

5. Evaluate the Effectiveness of

Decision Making
After taking a decision, its effectiveness is
examined. This is sometimes referred to as
evaluation research.

Business Research Methods: An Introduction

12

Copyright Dorling Kindersley India Pvt. Ltd

Use of Software in Data

Preparation and Analysis
Nowadays, it is irrational to deal with data
preparation and analysis without the use of existing
statistical software.
This section focuses on introducing three widely
used software programs. They are MS Excel (2007),
Minitab, and SPSS (17).

Business Research Methods: An Introduction

13

Copyright Dorling Kindersley India Pvt. Ltd

Use of Software in Data

Preparation and Analysis
..\Excel 2007.xlsx
..\SPPS 17.sav
..\Minitab 15.MPJ

Business Research Methods: An Introduction

14