Business Research Method
Presented BY : Muhammad Asif
What is research?
• The process of finding solutions to a problem after
a thorough study and analysis of the situational
factors. Manager in organizations constantly
engage themselves in studying and analyzing
issues and hence are involved in some form of
research activity as they make decisions to solve
the problems and issues at the workplace.
Sometimes managers make good decisions and a
problem gets solved and vice versa.
Benefits of the Research knowledge
– Internet with research consultant
– Discriminate b/w good and bad studies published in
professional Journals
– One can undertake the research
– Better sift the information from required source
– Can study previous problems like literature, reviews
etc.
– Taking right course of action
– Choosing from alternatives the best possible solution
– Informed decision making
Definition of research
• Research is an organized, systematic, data-
based, critical, objective, scientific inquiry or
investigation into a specific problem
undertaken with the purpose of findings
answers or solutions to it.
Definition of Research.
We can now define Business research as follows:
• 1. Organized 2. Systematic
• 3. Data based 4. Critical
• 5. Objective 6. Scientific Inquiry.
Business Research
• A systematic and organized effort to
investigate a specific problem encountered in
the work setting that needs a solution.
Purpose and Need of Research
• Research provides the needed information that
guides managers to make informed decisions to
successfully deal with problems. The
information can be collected by conducting
primacy (first hand) research or by secondary
(already available or conducted ) research. Data
can be quantitative (questionnaires) or
qualitative (interviews, meetings or answers to
open ended questions).
Steps in research
• Where the problem areas exists in the organization
and to identify as clearly and specifically as possible
the problems needs to be studied and resolved
• Gather information
• Analyze the data
• Determine the factors that are associated with the
problem
• Solve it by taking the necessary corrective
measures/action
Manager and Problem Solving
• Manager can make good decisions as well as bad decisions
• Manager must identify where exact problems lies
• Correctly recognize the relevant factors in the situation
needing investigation
• Must know what types of information are to be
gathered/collected regarding the problem?
• How to make use of that information?
• How to draw appropriate conclusion?
• How to implement the results of this process to solve the
problem?
This process have to be carried out
1) Systematically.
2) Diligently.
3) Critically.
4) Objectively.
5) Logically.
Importance
Managers and Research Knowledge
Being knowledgeable about research & Res. Methods helps professional
managers to,
1) Identify & effectively solve minor problems in the work setting.
2) Know how to discriminate good from bad research.
3) Appreciate and constantly aware of multiple influences & multiple effects of
factors effecting a situation.
4) Take calculated risks in decision making knowing well the probability
associated with the different possible out comes.
5) Prevent possible vested interests from exercising their influence in a
situation.
6) Relate to hired researchers & consultants more effectively.
7) Combine experience with scientific knowledge while making decisions.
Use of
Research in an organizational setting
• Research is primarily conducted to resolve
problematic issues among the areas of
accounting, finance, management and
marketing.
Accounting And Finance
• Accounting-budget control systems, inventory
costing methods
• Accelerated Depreciation
• Taxation methods
•
• Finance-optimum financial ratios
• Mergers/acquisitions
• Behavior of stock exchange
Management And Marketing
• Management-employee attitude and behavior
• The impact of changing demographics and
management practices
• Information system requirement
•
• Marketing-product image
• Product distribution
• Packaging
• Price etc
Data
[Link]: Gathered through structured
questions.
[Link]: Generated from the broad answers
to specific questions in interviews, or from
response to open-ended questions in a
question are, or through observation, or from
already available information gathered from
various sources.
Types of Business Research
[Link] Research: If a particular product is not selling, and
the manager want to find the reasons for this in order to take
corrective actions.
[Link] Research: Basic research is to generate a body of
knowledge by trying to comprehend how certain problems
that occur in an organization can be solved.
I) Causes and consequences of global warming.
II) General Electric Company.
III)Computer companies.
IV)University professors.
Ethics and Business Research
• - Code of Conduct.
• - Societal norms, behavior while conducting
research.
