Business Research

Dr. Rajani Kumar

 Definition
 Business Research is a systematic way to
collect information and get knowledge out
of it with a methodology so that the
derived knowledge can be used to make
decisions.

 “Asystematized effort to gain new

knowledge.”(Redman and Mory)
 Definition
 “Research comprises of 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.”(Clifford
Woody)
 Business Research
 “Business research is defined as the systematic and objective process
of generating information for aid in making business decisions.” 
The above definition suggests:
 1.Research information is neither intuitive nor haphazardly gathered.

 2.The information generated or data collected and analysed should

be accurate.

 3.The objective is to facilitate the managerial decision-making

process for all aspects of a business: finance, marketing, personnel,
and so on.

 4.An essential tool for management in its problem-solving and

decision-making activities, business research generates and
provides the necessary qualitative or quantitative information upon
which to base decisions. By reducing the uncertainty of decisions,
research reduces the risk of making wrong decisions.
 Importance of Business Research
  
The role of research has increased in the field of business
and economy as a whole:
 it provides the knowledge and skills to solve the

problems
 meet the challenges of today’s modern pace of

development.
The following factors stimulate people to conduct
an inquiry of a management dilemma, the problem
or opportunity that requires a management
decision.
1. Increased role of information technology;
2. Active role of stakeholders;
3. Cut throat competition;
4. Increased governments intervention;
5. More complex decisions;
6. Development of management as a group of
disciplines;
 Objectives of Business Research
•To gain familiarity with a phenomenon or to achieve new
insights into it -Exploratory or Formulative Research

•To portray accurately the characteristics of a particular

individual, situation or a group-Descriptive Research

•To determine the frequency with which something occurs

or with which it is associated with-Diagnostic Research

•To test a hypothesis of a causal relationship between

variables –Causal Research
 Types of Research
Exploratory Research:
• undertaken with the aim of clarifying
ambiguous problems
• general problems usually known but not
sufficiently understood
• the purpose is to get more information, not to
uncover specific courses of action (subsequent
research)

Determining a specific course of action to follow

is not a purpose of exploratory research!
 Types of Research
Descriptive Research:
•undertaken with the aim of determining the
characteristics of a population or phenomenon
•Previous knowledge of problem exists
•High degree of precision or accuracy required

Examples:
Who are the main consumers of organic foods?
How many students read the prescribed course
literature?
Where do most holiday-makers travelling
overseas go?
When do petrol stations tend to raise their prices?
 Types of Research
Causal Research:
•undertaken with the aim of identifying
cause and effect relationships amongst
variables
•are normally preceeded by exploratory
and descriptive research studies
•Often difficult to determine because of
the influence of other variables
 RESEARCH APPROACH

Quantitative Approach
Involves generation of data in quantitative form which can be
subjected to quantitative analysis

CLASSIFICATION OF QUANTITATIVE APPROACH

Inferential
Experimental
Simulation
 Research Approach

Inferential Approach
Purpose is to form a data base from which to infer
characteristics or relationships of population

Experimental Approach
is characterised by much greater control over the
research environment
 Research Approach

Simulation Approach

Involves construction of an artificial environment

within which relevant information and data can be
created
Qualitative approach
Qualitative approach to research is concerned
with subjective assessment of attitudes ,
opinions and behavior.

Techniques used :
Focus group interviews
Projective techniques
Depth interviews
THANKYOU