research method for business chapter 1

Research Methods for Business

Khalid Javaid Anwer

KJAN

Welcome

Research Methods: Chapter 1

You and me in Class … !!

How I will Teach?

Follow the book

Multimedia presentation

Handouts of class lectures Hardcopy – Copier

Softcopy – Maintenance Section

What I expect from you?

Be regular and participative

Submit Assignments on time

Behave in mature manner

Prescribed Text Book:

Research Methods for Business: A Skill – Building Approach

5th edition

Sekaran & Bougie

Syllabus:

Chapters = 1-2-3-4-5-6-7-8-10-11-12-14

Total = 12 Chapters

No of lectures available = 10

Research Methods for Business

Marks Distribution

Sessional Marks 50 Quizzes 10 Assignment 10 Class participation/ Attendance 05 Midterm test 25

End Term Exam 50 Total 100 Pass Percentage 50%

TERM WORKLOAD Quizzes : 4 (Avg. of best 3 will be graded) Assignments: 3 (Avg. will be graded)

Introduction to Research

Chapter 1


Definition of Research

Applied and Basic Research

Why Managers Should Know About Research?

Managers and the Consultant-Relationship

Ethics and Business Research


TOPICS


PROBLEMEmployee’s Turnover

Sales decline

Customer switching

Employees Motivation

Poor Punctuality

Poor Performance

Sales Decline

ISP

High Price

Stocks Availability


Timings Training

Product Quality

Financial constraint

Poor Services

Employee’s Turnover

Low salaries

Manager employee relations


Career opportunity

Training Skills

variety

Rumors

Work itself

Location

Advertising

Product image

Product pricing

Sales promotion

After-sales service

Product packaging

Product distribution

Consumer preferences

New product development

Problems in Marketing


Depreciation

Transfer pricing

Taxation methods

Budget control systems

Inventory costing methods

Time-series behavior of quarterly earnings

Problems in Accounting


Leveraged buyouts

Yields on mortgages

Optimum financial ratios

Inter-corporate financing

Mergers and acquisitions

The behavior of the stock exchange

The operations of financial institutions

Problems in Finance


Information systems

Strategy formulation

Human resources management

Employee attitudes and behaviors

Production operations management

Impact of changing demographics on management practices

Problems in Management


A process of finding solutions to a problem after a

thorough study and analysis of the situational factors.

Managers make decisions…..

Good decisions and the problem gets solved

Poor decisions and the problem persists


What is Research?

Modern technology and personal computer with any

means to an Internet connection has made research an

exciting.

Decision making is merely a process of choosing from

among alternative solutions and research helps to

generate viable alternatives for effective decision making.


The Excitement of Research


Business research can be described as a systematic and

organized effort to investigate a specific problem

encountered in the work setting, that needs a solution.

Consisting of a series of steps designed and executed,

with the goal of finding answers to the issues that are of

concern to the manager in the work environment.


Business Research


Business Research as an organized systematic, data

based, critical, objective, scientific inquiry or

investigation into a specific problem undertaken with

the purpose of finding answers or solutions to it.


Definition;

Business Research:

“Scientific Research focusing on solving problems

and pursues a step by step, logical, organized and

rigorous method to identify the problems, gather

data, analyze them and draw valid conclusions

there from”.


Definition;

Scientific Research:

Not based on guess, experience & intuition

It is purposive and rigorous

Findings are accurate and confident.

Apply solutions to similar problems.

It is more objective in nature.

Enables all those who are interested in researching

and knowing about the same or similar issues to

come up with comparable findings when data are

analyzed.


Why Scientific Research? Because

To know where the problem areas exist in the

organization.

To identify as clearly and specifically as possible the

problems that need to be studied and resolved.

Gather information, analyze the data, and determine

the factors that are associated with the problem and

solve it by taking the necessary corrective measures.


Business Research: Phases


Distinction between Applied and Basic Research

The main distinction between applied and basic business research is:

Applied research is specifically aimed at solving a currently experienced problem.

Basic research has a broader objective of generating knowledge and understanding of phenomena and problems that occur in various organizational settings.

Both types of research follow the same steps of systematic inquiry to arrive at solutions to problems.

Distinctions


Research can be undertaken for two purposes:

1. To solve a current problem faced by the manager in the work setting that is called applied research.

2. To generate a body of knowledge about how to solve problems that could be occurred in organizations. This is called basic research or fundamental or pure research.


Types of Business Research


University professors engage in basic research is an effort to understand and generate more knowledge about various aspects of businesses, such as:

1. How to improve the effectiveness of information systems.

2. How to increase the productivity of the employees.

3. How to increase the effectiveness of small businesses.

4. What factors motivate employees at Preston university

These findings later become useful for application in business situations


Examples of Basic Research


Managers with knowledge & without knowledge (advantage)

Because of increasing complexity of organizations, and

the uncertainty of the environment,

Knowledge of research and problem-solving process

helps managers to identify problem situations before

they get out of control.

Minor problems can be solved by the manager, for major

problems the outside researchers/consultants are hired.


Managers and Research


The manager who is knowledgeable about research can

interact effectively with the researchers.

Knowledge about research process helps managers, to

determine whether or not the recommendations are

appropriate for implementation.

When managers understand the research reports of their organizations, they will be equipped to take intelligent, educated, calculated risks with known probabilities attached to the success or failure of their decisions.

Research then becomes a useful decision-making tool.


Managers and Research


Some organizations have their own research department,

which might be called:

a. The management services department

b. The organization and methods department

c. R & D (research and development department)

Such a department within the organization serves as the

internal consultant if it face certain problems n seek help.

This unit would be useful in several ways

Internal Versus External

Consultants / Researcher


The internal researchers have better chance of being

readily accepted by the employees.

The team would require much less time to understand

the structure, the philosophy and climate and work

system of the organization.

They would be available for implementing their

recommendations after the research findings are

accepted.

The internal team might cost considerable less than the

external team.

Internal Researchers

Advantages


They might have less fresh ideas and perspectives that

might be needed to correct the problems.

There is scope for certain powerful groups in the

organization to influence or misrepresent certain facts.

There is a possibility that the internal researchers are not perceived as “experts” by the management, and hence their recommendations do not get the consideration and attention they deserve.

Certain organizational biases of the internal research team might make the findings less objective and less scientific.

Internal Researchers

Disadvantages


They have a wealth of experience from having

worked with different types of organizations that

have had the same or similar types of problems.

They might have more knowledge of current

sophisticated problem-solving models through their

periodic training programs.

External Consultants

Advantages


The cost of hiring an external research team is high.

They need a considerable time to understand the

organization to be researched.

They seldom get a warm welcome, nor are accepted

by employees.

They charge additional fees for their assistance in

the implementation and evaluation phases.

External Consultants

Disadvantages


Ethics in business research refers to a code of

conduct of behavior while conducting research.

Ethical conduct applies to the organization and the

members that sponsor the research, the researchers

who undertake the research, and the respondents

who provide them with the necessary data.


Ethics


The members that sponsor the research should do it in

good faith, pay attention to what the results indicate, and

pursue organizational interest.

Ethical conduct should be reflected in the behavior of;

The researchers who conduct the investigation

The participants who provide the data

The analysts who provide the results

The entire research team that presents the interpretation of

the results and suggests alternative solutions.


Ethics


research method for business chapter 1

Education