Business Research Methods

Unit-1
Lecture 1.5 Writing up - The iterative nature of business research process

Prof. S. M. Jadhav
 Syllabus of Unit 1
Lecture Content
1 Definition of Research, Need of business research, Characteristics of scientific research method,
Typical Research applications in business and management.
2 Questions in Research: Formulation of Research Problem – Management Question –
Research Question – Investigation Question.
3 The process of business research: Literature review - Concepts and theories - Research
questions - Sampling - Data collection - Data analysis
4 Elements of a Research Proposal. Practical considerations
5 Writing up - The iterative nature of business research process
6 Values – researcher & organization. Ethical principles - Harm to participants, Lack of
informed consent, Invasion of privacy, Deception, Reciprocity and trust, Affiliation and
conflicts of interest. Legal considerations - Data management, Copyright
 What Is the Iterative Process?

• Iterative refers to a systematic, repetitive, and recursive process in

qualitative data analysis. ...
• This process recognizes that rich information, purposefully focused on
the collection of specific, rather than general, data related to the
research topic, is necessary for reliable and valid qualitative research.
 What is the iterative process?

• The iterative process is a technique research and development teams

use to help them optimize their products, services and business
processes.
• The process involves repeated trial-and-error style cycles, where
researchers adjust each cycle according to what they learned in the
previous iteration.
• By using this method, teams can design planned changes for their
processes and encourage steady improvements toward an end goal.
• Careful planning and consideration of feedback can help teams
conduct successful iterative processes.
 Why Should You Use The Iterative Process?

• Flexible
• One reason to use the iterative process is for its flexibility. A major
benefit of the model is its ability to allow users to revise and refine
their products or processes quickly.
• This can be especially beneficial if a company is still in the planning
phase of product development and doesn't yet have a completed model
available
 Why Should You Use The Iterative Process?

• Useful
• The iterative process can also be a useful way for development teams to
create new strategies and establish successful products.
• Because every iteration improves on the previous step, it's easy to
understand what phase you're in with your product development. The
iterative process often starts with a rough prototype that enters a testing
phase to give you timely feedback as you work toward a completed project.
• It can also be useful for producing visible results early on. Each cycle or
milestone represents significant improvements and changes that can
optimize your timeline management.
 Why Should You Use The Iterative Process?

• Efficient
• Some alternative development approaches, like the waterfall approach,
rely on established steps to arrive at a desired result.
• When using these processes, external or internal changes can
sometimes disrupt teams' ability to implement improvements quickly
and stay on track for timelines and specific requirements.
 Why Should You Use The Iterative Process?

• Cost effective
• Another reason companies choose to use the iterative process is for its cost
effectiveness.
• Compared to methods like the waterfall approach, the iterative process can
accommodate changes to overall requirements and scope at lower costs.
• Again, this is because the process encourages teams to rethink their
existing offerings.
• Change is both expected and necessary for this approach. Each cycle asks
teams to evaluate their product using new feedback and to incorporate
necessary changes for the next round.
 Why Should You Use The Iterative Process?

• Accessible
• The iterative process is a useful tool because it is highly accessible.
• It can encourage collaboration, clear communication and transparency.
Because the process highlights inconsistencies and areas where teams
can improve a project's design, code or ability to meet client
specifications, it's easy to track certain movements and decisions.
• This feature can help eliminate misunderstandings. Presenting the
results of the iterations to clients or stakeholders can also be easier
with this approach because they can clearly visualize the product's
evolution
 Why Should You Use The Iterative Process?

• Buildable
• The iterative approach allows companies to improve their existing
offerings consistently and reliably.
• Each iteration cycle allows teams to evaluate areas for improvement
and to implement the lessons they learned.
• That means every new iteration is typically better than the last. By
improving the development process consistently, teams can create
thoughtful products and carefully design processes that possess
guaranteed quality.
 Why Should You Use The Iterative Process?

• Low risk
• One last reason many businesses and development teams choose to use
the iterative approach is because it is relatively low risk.
• Often, teams address the higher-risk aspects of a product first.
Gradually, as the process goes on, each iteration becomes more and
more refined.
• This can reduce the risk for major discoveries near the end of the
process because teams have had so long to address issues and concerns.
• The method can allow companies to identify and resolve risks early.
 How does the iterative process work?

• The iterative process works by using cycles of feedback and

improvements to create quality products and improve operational
processes.
• To illustrate how the process works in action, consider an air freshener
company is working on a new scent.
• They might employ the help of a focus group to conduct smell tests.
• In each testing round, the air freshener company might ask their
groups to compare the scent of their product to that of a competitor.
 How does the iterative process work?

• They can take notes on the feedback they receive and use the
information to keep what worked and discard what didn't.
• From here, they might bring the testing group back again and conduct
the same experiment. By repeating the same approach for each
session, they can adjust their product until it is ready for the market.
Using their findings from each round, they ensure they're improving
their offering continually and outperforming their competitors.
 The layers of Saunders’ research onion

• The onion is made up of 6 layers, which you’ll need to peel back one
at a time as you develop your research methodology:
• Research philosophy
• Research approach
• Research strategy
• Choices
• Time horizon
• Techniques & procedures