7254519 business research methodology

8/14/2019 7254519 Business Research Methodology

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RESEARCH METHODOLGY IN BUSINESS


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INTRODUCTIONWhat is Business Research? It is a systematic inquiry that provides information toguide managerial decisions. It is a process of planning, acquiring, analyzing anddisseminating relevant data and information and insights to decision makers inways that mobilize the organization to take appropriate actions that, in turn,maximize business performance.


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INTRODUCTIONPlanning Drives Business Research Goals: Decision on goals Decision SupportSystem: Need to complete one or many exchanges (numerous elements of data,organized for retrieval) Business Intelligence System: is designed to provide themanager with ongoing information about events & trends. Strategy: the generalapproach an organization will follow to achieve its goal. Tactics: Specifictimed activities that execute a strategy.


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INTRODUCTION

Purpose of Business Research To identify and define opportunities and problems. To define, monitor, andrefine strategies To define, monitor, and refine tactics


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TYPES OF RESEARCHERS Custom Designed Research/Full-service research: Crafts a research design uniqueto the decision makers dilemma. Proprietary Methodology Researchers: A researchprogram owned by a single firm. It may be a slight twist on an establishedmethodology or may be developed by that firm. Specialty Research Firms:represent the largest number of research firms and tend to dominate the smallresearch firms operated by a single researcher or very small staff. These firmsmay establish a specialty in one or several arenas: Process Industry

Participant group


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TYPES OF RESEARCHERS

Syndicated Data Providers: Tracks the change of one or more measures over time,usually in a given industry. Omnibus Researchers: An omnibus researcher fieldsresearch studies, often by survey, at regular, predetermined intervals. An omnibusstudy combines one or a few questions from several decision makers who needinformation from the same population.


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Research Report Components

Prefatory Items Introduction Methodology Findings Conclusions Bibliography


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Prefatory Items

Letter of Transmittal Title Page Authorization Letter Executive Summary Table ofContents


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Introduction

Problem Statement Research Objectives Background


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Methodology

Sampling Design Research Design Data Collection Data Analysis


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RESEARCH DESIGN


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THE RESEARCH PROCESS

Define the problem Define the research objective Choose data sources Chooseresearch methods Construct sample Set budget and deadlines Undertake researchAnalysis and evaluation


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THE RESEARCH DESIGNRESEARCH DESIGN

EXPLORATORY RESEARCH DESIGN

CONCLUSIVE RESEARCH DESIGN

DESCRIPTIVE RESEARCH

CAUSAL RESEARCH

CROSS-SECTIONAL DESIGN

LONGITUDINAL DESIGN

SINGLE CROSS-SECTIONAL DESIGN

MULTIPLE CROSS-SECTIONAL DESIGN


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EXPLORATORY RESEARCH

OBJECTIVE: DISCOVER IDEAS & INSIGHTS CHARACTERISTICS: FLEXIBLE, VERSATILE METHODS: EXPERT SURVEYS PILOT SURVEYS SECONDARY DATA (Qualitatively analyzed) QUALITATIVE RESEARCH


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SECONDARY DATA (Qualitatively analyzed PRIMARY DATA: Data originated by a researcher for the specific purpose ofaddressing the research problem. Included among primary sources are interviews,speeches etc SECONDARY DATA: Data collected for some purpose other than theproblem at hand. Included among secondary data are reports available in thelibraries/ internet, magazines, newspapers etc.


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ADVANTAGES OF SECONDARY DATA

Easily Accessible Relatively Inexpensive Quickly Obtained Better define theproblem Formulate an appropriate research design


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DISADVANTAGES OF SECONDARY DATA

Usefulness to the current problem may be limited Irrelevant Inaccurate


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Classification of Secondary data

Internal Data:Ready to Use Requires further processing

External Data:Published Materials Computerized Database Syndicated Services


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Qualitative Research Procedures

Direct

Indirect

Focus Group

Depth Interviews

Projective Techniques

Association Techniques

Completion Techniques

Construction Techniques

Expressive Techniques


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FOCUS GROUP INTERVIEWS

Unstructured Free Flowing Group Interview Start with Broad Topic and focus in onSpecific issues


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Advantages:

Economical Quicker Results in New Ideas usually

Disadvantages:

Moderators need to be well trained Results may be influenced by the moderatorsDominant personalities may take over group


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DEPTH INTERVIEWSCharacteristics: UnstructuredDirect Personal Interview

Techniques:

Laddering Hidden Issues Symbolic Analysis


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Advantages:

Brings out Information clearly Flexibility

Disadvantages:

Interviewer Bias Longer Time Involved Costs Involved Difficulty in Interpretation


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PROJECTIVE TECHNIQUES Characteristics: UnstructuredIndirect form of Questioning


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DEGREE OF PROBLEM DEFINITION

Exploratory Research (Unaware of Problem)

Conclusive Research (Aware of Problem)


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Vague Problem

Exploratory Research

Hypothesis

Conclusive Research

Decision


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CONCLUSIVE RESEARCH

OBJECTIVE: EVALUATING ANS SELECTING BEST COURSE OF ACTION CHARACTERISTICS: FORMALAND STRUCTURED INFORMATION NEEDED IS CLEARLY DEFINED SAMPLE IS LARGE


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DESCRIPTIVE RESEARCH OBJECTIVE: DESCRIBE MARKET CHARACTERISTICS OR FUNCTIONS CHARACTERISTICS:PREPLANNED & STRUCTURED DESIGNS LARGE SAMPLE SIZE

METHODS: SURVEYS OBSERVATIONAL


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SURVEY METHODS

Telephonic Interviewing Personal Interviewing Mail Interviewing ElectronicInterviewing


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OBSERVATION METHODS

Structured & Unstructured Observation Disguised & Undisguised Observation Natural& Contrived Observation


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CROSS SECTIONAL DESIGN

INCLUDES:

SINGLE CROSS SECTIONAL DESIGN MULTIPLE CROSS SECTIONAL DESIGN


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CAUSAL RESEARCH

OBJECTIVE: TO OBTAIN EVIDENCE REGARDING CAUSE - EFFECT RELATIONSHIPCHARACTERSTICS: PLANNED & STRUCTURED DESIGN


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ATTITUDE MEASUREMENT


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PRIMARY SCALES OF MEASUREMENT

Nominal Scale Ordinal Scale Interval Scale Ratio Scale


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SCALING

THE GENERATION OF A CONTINUM UPON WHICH MEASURED OBJECTS ARE LOCATED


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SCALING TECHNIQUES

COMPARATIVE SCALE

NON COMPARATIVE SCALES

CONTINOUS RATING SCALE

ITEMIZED RATING SCALE

PAIRED COMPARISON CONSTANT SUM LIKERT

RANK ORDERQ - SORT

SEMANTIC DIFFERENTIAL

STAPEL


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SAMPLING TECHNIQUES


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SAMPLE

A SUBGROUP OF THE ELEMENT OF THE POPULATION SECLECTED FOR PARTICIPATION IN THESTUDY


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SAMPLING TECHNIQUES

NON - PROBABILITY

PROBABILITY

SIMPLE RANDOM SAMPLING CONVENIENCE SAMPLING STRATIFIED SAMPLING

QUOTA SAMPLING JUDGMENTAL SAMPLING

SNOWBALL SAMPLING

SYSTEMATIC SAMPLING CLUSTER SAMPLING


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SAMPLING DESIGN PROCESS

Define Target Population Determine Sampling Frame Select a Sampling TechniquesDetermine Sample Size Execute the Sampling Process


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QUESTIONNAIRE CONSTRUCTION AND DATA COLLECTION


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QUESTIONNAIRE DESIGN PROCESSSpecify the information needed Specify the type of interviewing method Determinethe content of individual questions Design the questions to overcome therespondents inability & unwilling to answer Design on question structure Determinethe question wording Arrange the question in proper order Identify the form &layout Reproduce the Questionnaire Eliminate bugs by pretesting


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Determine the Content of Individual Questions

Is the Question necessary Are Several Questions needed instead of one


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Overcoming Inability to Answer

Is the Respondent Informed Can the Respondent Remember


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Choosing Question Structure

Unstructured Questions Structured Questions


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Choosing Question Wording

Define the Issue Use Ordinary Words Use Unambiguous Words


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7254519 business research methodology

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