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Chapter OneRESEARCH IN BUSINESS

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What is Research?

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What is Research?

- A systematic inquiry whose objective is to

provide information to solve problems.

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What is Business Research?

A systematic inquiry whose objective is toprovide information to help management

to make decision in business sector

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Terminology

Methods :- The techniques and procedures used to obtain data

Methodology :- The theory of how research should be undertaken

Research Method: all those methods/techniques that are used for

conduction of research.

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Scientific Method

Scientific Method:

A systematic way used by scientist to solve the

problems

Criteria:

Based on facts

Free from bias

Analytic

Hypotheses

Objective measure

Quantitative technique

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Why Study Research?

Research provides you with the knowledgeand skills needed for the fast-paced

decision-making environment

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Why Managers need Better Information?

Global and domestic competition is morevigorous

Organizations are increasingly practicing

data miningand data warehousing

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The Value of Acquiring Research Skills

To gather more information beforeselecting a course of action

To do a high-level research study

To understand research design

To evaluate and resolve a current

management dilemma

To establish a career as a research

specialist

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Types of Studies Used to do Research

Reporting study:

provides a summation of data, often recasting data toachieve a deeper understanding or to generate statistics for

comparison.

Descriptive study:

tries to discover answers to the questions who, what, when,

where and sometimes, how. The researcher attempts todescribe or define a subject, often by creating a profile of a

group of problems, people, or events.

Explanatory study:

attempts to explain the reasons for the phenomenon that thedescriptive study only observed

Predictive study:

attempts to predict when and in what situations an event will

occure

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What is Good Research?

Following the standards of the scientificmethod

Purpose clearly defined

Research process detailed

Research design thoroughly planned

Limitations frankly revealed

High ethical standards applied

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What is Good Research? (cont.)

Adequate analysis for decision-makers needs

Findings presented unambiguously

Conclusions based on the result of

data analysis

Researchers experience reflected

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The Manager-Researcher Relationship

Managers obligations Specify problems

Provide adequate background information

Access to company information gatekeepers

Researchers obligations

Develop a creative research design

Provide answers to important businessquestions

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Manager-Researcher Conflicts

Managements limited exposure toresearch

Manager sees researcher as threat to

personal status

Researcher has to consider corporate

culture and political situations

Researchers isolation from managers

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Type of Research

1. Descriptive vs Analytical

2. Applied vs Fundamental

3. Quantitative vs Qualitative

4. Conseptual vs Empirical

5. Others:

- One time vs longitudinal

- Field vs laboratory

- Exploratory vs formalized- Historical

- Conclusion oriented vs decision oriented

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Reasoning

1. Deduction :

Form of argument that purports to be conclusive

the conclusion must necessarily follow from the

reason given.

Drawing a conclusion from general to specific

Example:

All mortal will be dead.

Human being is mortal.

Plant is mortal.

Animal is mortal.

So, human being, plant and animal surely will be dead.

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Reasoning

2. Inductiondraw a conclusion from one or more particular facts

or pieces of evidence.

draw a conclusion from something particular to

general.

Example:

Iron will melt if heated

Gold will melt if heated Tin will melt if heated

Iron, gold and tin are metal

So, all metal will melt if heated