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 CONCLUSIVE RESEARCH
Loosely structured in design Well structured and systematic in
design
Are flexible and investigative in Have a formal and definitive
methodology methodology that needs to be followed
and tested
Do not involve testing of hypotheses Most conclusive researches are carried
out to test the formulated hypotheses
Findings might be topic specific and Findings are significant as they have a
might not have much relevance outside theoretical or applied implication.
the researcher’s domain
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.
27
Hence there is always a
constant demand for
RESEARCH in BUSINESS .
28
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
