Business Research Methods

 Evaluation – ICA – 50 MARKS

 Components
– Research Proposal Report
– Presentation [LR]
– Viva
[Topic and Literature Review of the research
proposal]
Meaning of research

 Scientific and systematic search for

pertinent information on a specific topic

 A careful investigation and enquiry

specially through search for new facts in
any branch of knowledge
 What is research?
Management research is an unbiased,
structured, and sequential method of enquiry,
directed towards a clear implicit or explicit
business objective. This enquiry might lead to
validating existing postulates or arriving at
new theories and models.
Your research will take you
on a journey to find out:
 What is already known
 What is still unknown
 What is worth knowing
 What is knowable
 What is the best way of designing a study
in order to find answers to what is:
Unknown, Worth knowing and Knowable
 OUR JOB
Our major objectives are….

 To understand the importance of research in

business.
 To understand the various terminologies
related to research.
 To understand the process of business
research.
 To conduct research in area of your interest .
Business Research

 Business research is defined as the

systematic and objective process of
gathering, recording and analyzing data
for making business decisions
 Types of research
BUSINESS RESEARCH

BASIC RESEARCH APPLIED RESEARCH

EXPLORATORY CONCLUSIVE RESEARCH

RESEARCH

DESCRIPTIVE RESEARCH CAUSAL RESEARCH

Business Research Types

Basic research

Applied research
 Basic research
(Pure/Fundamental)
 To generate a body of knowledge by trying to
comprehend how certain problems that occur
in organizations can be solved
 This basic knowledge gained by the findings
can later on be applied by some
organizations to solve their own problems
Basic Research Example

 Is executive success correlated with

high need for achievement?
 Are members of highly cohesive work
groups more satisfied than members of
less cohesive work groups?
 Applied Research

 Research done with the intention of

applying the results of the findings to
solve specific problems currently being
experienced in the organisation
 To solve a current problem faced by the
manager in the work setting, demanding
a timely solution
Applied Research Examples
 What should a company do in a
particular geographic region to increase
its market share?
 Examples
 Sc:1: A university professor wanted to analyze in
depth the reasons for absenteeism of employees in
organisations. Fortunately, a company within 20
miles of the campus employed her as a consultant to
study that very issue.
 Sc:2: A research scientist surveys 1000 employees in
different organisational settings to study the efficacy
of several types of nasal sprays in controlling the flu
virus. He subsequently publishes his findings in a
highly respected medical journal.
 Types of research
 Exploratory research is loosely structured and
the basic premise is to provide direction to
subsequent, more structured method of enquiry.

 Conclusive research is structured and definite

in orientation. These studies are usually
conducted to validate formulated hypotheses
and specified relationships.
Exploratory vs Conclusive Research
EXPLORATORY RESEARCH
 Loosely structured in design
 Are flexible and investigative in
methodology
 Do not involve testing of hypotheses
 Findings might be topic specific and
might not have much relevance outside
the researcher’s domain
CONCLUSIVE RESEARCH
 Well structured and systematic in
design
 Have a formal and definitive
methodology that needs to be followed
and tested
 Most conclusive researches are carried
out to test the formulated hypotheses
 Findings are significant as they have a
theoretical or applied implication.
 Conclusive research

 Descriptive research: The main goal of this

type of research is to describe the data and
characteristics about what is being studied.

 Causal research: Explores the effect of one or

more variables on other variable(s), with
reasonable level of certainty by controlling the
impact of other influencing variables.
An Example…..
You want to know your Employees’ opinion
about having a health center in your
organization. Think of the steps that you
would take to get the answer .
The Steps…..

The things that would have struck your mind

are….
 You will be ( Who )
 Asking your employees ( Whom )
 Their opinion ( What )
 Through interview OR questionnaire ( How )
 While they are in the office ( Where & When)
 To find out if they need a health centre ( Why )
AND ONLY THEN WILL YOU TAKE

YOUR DECISION ABOUT THE

HEALTH CENTER.

This is RESEARCH .
Scope of research
Research comprises defining and
redefining problems, formulating hypothesis
or suggested solutions, collecting,
organizing and evaluating data, making
deductions and reaching conclusions and
at last carefully testing the conclusions to
determine whether they fit the formulating
hypothesis
 Functions of Research

 Validation of Knowledge
 Correction of Knowledge
 Generation of Knowledge
 Diagnosis of the situation
 Prediction of events
 Evaluation of process /product / project
BUSINESS RESEARCH

RESEARCH
AREAS

HUMAN INFORMATION
MARKETING FINANCE
RESOURCE TECHNOLOGY
 RESEARCH AREAS…..

 Employee attitude
 Leadership styles
 Performance appraisals
 Product innovations
 Consumer complaints
 Image building
 Investment decisions
 Dividend policies
Continued…

Alternate work patterns

 Outsourcing
 Management info systems
 Brand building & positioning
 Retirement policies
 Diversification

So on & so forth……
Can you name a few more ?????
Managerial Value of Business Research

 Identifying problems or opportunities

 Diagnosing & assessing problems or
opportunities
 Selecting & implementing a course of
action
 Evaluating a course of action
BUSINESS ENVIRONMENT
Every Business works in a variety of ENVIRONMENTS.

 Economic ( Macro & Micro )

 Social ( Human beings…Attitudes , Perceptions )

 Cultural ( Socio-cultural changes , Value crisis )

 Political ( National & International)

 Knowledge ( Science ,Technology & Skills )

 Legal ( National & International )

 There is a constant change in each of these
environments.

 The people who run the business & their

employees also undergo change continuously.

Hence there is always a generation of newer

problems, which need solutions.

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 Hence there is always a

constant demand for

RESEARCH in BUSINESS .

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Features of good research
study
 Objectivity
 Control
 Generalizability
 Free from personal biases
 Systematic
 Reproducible
You have been sent to another
country to study the feasibility of
opening a branch office of your
organization.

Identify the research areas.

 Research process in flow chart
Define research Design research
problem FF
Collect data
Review concepts
Theories and
previous research
findings Analyze data

Formulate F
hypothesis Interpret &
report
 The research process
Management Dilemma
Basic vs Applied

Defining the Research Problem

Formulating the Research Hypothesis

Developing the Research Proposal

The Research Framework

Research Design

Data Collection Plan Sampling Plan

Instrument Design

Pilot Testing

Data Collection

Data Refining and Preparation

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

 The research process
 The management decision problem

 Defining the research problem

 Formulation of the working hypotheses

 Construction of the research proposal

 The research process
 Formulating the research design

 Sampling considerations

 Collecting the data for the study

 Data analysis and interpretation of

findings
Research applications in marketing
 Market & consumer analysis

 Product research

 Pricing research

 Promotional research
Research applications in finance
 Asset pricing, capital markets and corporate finance

 Financial derivatives and credit risk modeling

research

 Market-based accounting research

 Auditing and accountability

 Other areas: financial forecasting, behavioural

finance, volatility analysis
 Research applications in
human resources
 Training & development studies

 Selection and staffing studies

 Performance appraisal–design and evaluation

 Organization planning and development

 Incentive and benefits studies

 Emerging areas–critical factor analysis, employer

branding studies
 Research applications in
production & operations management
 Operation planning and design
 Demand forecasting and demand estimation
 Process planning
 Project management and maintenance
effectiveness studies
 Logistics and supply chain-design and evaluation
 Quality estimations and assurance studies
 Criteria for research
 MUST have: a clearly stated research purpose/ objective
 MUST have: a sequential plan of execution
 MUST have: a logical and explicitly stated justification for the
selected methods
 MUST have: an unbiased and neutral method of conduct and
reporting
 MUST have: complete transparency and ethical conduction of
the research process
 MUST have: provision for being reliable & replicable