1.nature & scope of br

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Chapter 1

Nature & Scope of BusinessResearch


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WHAT IS RESEARCH?

Research is the processof finding solutions to a

problem after thoroughstudy and analysis ofsituational factors.

Uma Sekaran


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Business Research Defined

The systematic & objectiveprocess of gathering, recording,

and analyzing data for aid inmaking business decisions.

William G Zikmund

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Why Study Research?

Research provides you with theknowledge and skills needed forthe fast-paced decision-making

environment Data leads to

Information leads to

Knowledge


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When is BusinessResearch needed?

A manager faced with two or more possiblecourses of action faces the initial decision ofwhether or not research should be conducted.

The determination of the need for research

centers on: Time Constraints

Availability of Data

Nature of the Decision

Benefits vs. Costs


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DETERMINING WHEN BUSINESSRESEARCH SHOULD BE CONDUCTED

Is sufficient timeavailable before amanagerial

decision must bemade?

Is the informationalready on handinadequate for

making thedecision?

Is the decisionof considerablestrategic or

tacticalimportance?

Does the valueof researchinformation

exceed the costof conductingresearch?

Business Research should not be conducted

No No No No

Time Constraints Benefits vs CostsNature of the DecisionAvailability of Data

Yes

ConductBusiness

Research


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Characteristics of Research

Controlled

Rigorous

Systematic Valid &

verifiable

Empirical

Critical


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Implications of BusinessResearch

Research information is neitherintuitive nor haphazardly gathered.

If the information gathered or datacollected and analyzed are to be

accurate, the business researchermust be objective.

The objective of business research

is to facilitate the managerialdecision- making process for allaspects of a business.

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Some commonly researched areas inbusiness

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Employee behaviors such as performances, absenteeism, and turnover

Employee attitudes such as job satisfaction, loyalty and organizational commitment.

Employee selection, recruitment, training and retention.

Validation of performance appraisal systems.

HRM choices & organizational strategy

Strategy formulation and implementation

Organizational outcomes such as increased sales, market share, profits, growth andeffectiveness

Distribution channels, advertising effectiveness

Brand loyalty, PLC & NPD

Consumer complaints

Location analysis Market testing

Portfolio management

Risk assessment

Auditing practices


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The Applications of BusinessResearch

From the viewpoint of:

The Service ProviderTo answer such questions as:

How many people are using theproduct or service?

Why do some people sue the

service/ product while others donot?

How effective is the service/product?

How can the service/ product be

improved? Which type of people use or do not

use the service/ product? How satisfied or dissatisfied are

the consumers of the service/

product? What are the problems with


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The Administrator, manager or plannerTo answer such questions as:

What are the needs of thecommunity?

What types of service/ product

are needed by the community? How many service providers are

needed? What are the training needs of

the staff?

How many cases can a workerhandle in a day?

How can the effectiveness ofeach worker be evaluated?

How can the service/ product be

made popular?


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The ConsumerTo answer such questions as:

Am I, as a consumer, gettingvalue for money?

How good are the service

providers? What are the long- term effects

of the product I am using?

1.nature & scope of br

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