Business Research Methods

Business Research MethodsINTRODUCTION TO BUSINESS RESEARCH

What Research Is Not  Research isn’t information gathering: Gathering information from resources such books or magazines isn’t research. No contribution to new knowledge.

 Research isn’t the transportation of facts: Merely transporting facts from one resource to another doesn’t constitute research. No contribution to new knowledge although this might make existing knowledge more accessible.

What Research Is  Research is: The systematic process of collecting and analyzing data (information) in order to increase our understanding of the phenomenon about which we are concerned or interested.

What is Business Research?  A systematic Inquiry whose objective is to provide information (accurate, relevant and timely) to help in solving managerial problems.

Why Study Business Research? It provides you with the knowledge and skills needed to deal with the ever-changing, fast-paced decisionmaking business environment ( managerial problem)

Why Study Business Research? Contd.

 To gather more information before selecting a course of action  To do a high-level research study  To understand research design  To establish a career as a research specialist

Different Types of Research  Applied Research vs Pure Research/Basic Research  Market Research / Operations Research/ Motivational Research

Factors Affecting Business Research    

Time constraint Availability of Scarce Resources Nature of Information Sought Benefit vs. Cost

Characteristics of Good Research Following the standards of the scientific method • Purpose clearly defined • Research process detailed • Research design thoroughly planned • Limitations frankly revealed • Adequate analysis for decision-maker’s needs • Findings presented unambiguously • Conclusions unbiased • Researcher’s experience reflected

The Manager-Researcher Relationship  Manager’s obligations • Specify problems • Provide adequate background information • Access to company information gatekeepers

 Researcher’s obligations • Develop a truly unbiased research design • Provide answers to important business questions • Remain focused

Manager-Researcher Conflicts  Management’s limited exposure to research  Manager sees researcher as threat to personal status  Researcher has to consider corporate culture and political situations  Researcher’s isolation from managers

When Research Should be Avoided  When information cannot be applied to a critical managerial decision  When managerial decision involves little risk  When management has insufficient resources to conduct a study  When the cost of the study outweighs the level of risk of the decision

Topics Not Discussed  Role of BR in Decision-Making  Effect of Globalization on BR  Business Research and Internet