brm lecture 1-2
TRANSCRIPT
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Business Research
Methods
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BRM - Assessment
Assessment will be a continual activity.
C1: 1-10th session
C2: 11-20th session
C3: 21-30th sessionMode of assessment
Quiz (oral / written)
Assignments
Case Study
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BRM - Assessment
Students will be selected (random / non-
random method) for quiz / case discussion ondaily basis.
A student selected in random draw, if absent,
will get zero.
Average of all scores of a student within 1-10th
session will be reported as C1 score. C2, C3
also will be done in similar way.
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BRM - Assessment
A student not getting selected even once up to
8th session will be allotted an assignment to becompleted by 10th session (for C1).
Similar method will be followed for C2 and C3.
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BRM - Assessment
Come in time. Dont knock the door if it is
closed.Penalty (for C1 / C2 / C3)
1 marks will be deducted (each time) if a
student is found to help another student during
assessment quiz / case discussion.
1 marks will be deducted (each time) if a
student comes late and knocks the door.
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Business Research
MethodsIntroduction
6Page 6 Business Research Methods
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Business Research
Business Research may be defined as
Systematic & Objective Process of Gathering,Recording and Analyzing data for aid in making
business decisions.
Systematicness and Objectivity are
distinguishing features of Business Research.
It involves planning, collection of information,
analysis and interpretation of results to answer
the required question.
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Management Dilemma
Usually a Business Research Process is
triggered by some concern of themanagement. Management gets interested in
exploring a problem situation. Management
thinks it is worth exploring.However, not all problem / concerns are
candidates for Business Research.
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When is Business Research Used?
Business research methods are used in
situations of uncertaintyWhen decision makers face two or more
possible action and want to select the best
alternative.
Hence objective of Business Research is to
improve the quality of decision-making, which,
in turn, benefits the organization and helpsensure its efficiency.
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When is Business Research Used?
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Decision-MakingSituation
TotalCertainty
TotalUncertainty
Value of Research
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When Should Business Research be Undertaken
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Is sufficient time
available?
Is informationinadequate?
High importanceof decision?
Research benefitsgreater than costs?
Yes
Yes
Yes
Undertake BusinessResearch
NO Do not undertakeBusiness Research
Yes
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Examples
A firm wants to produce a new product but first wants
to ascertain if there is a potential demand for theproduct.
A multinational firm wants to establish a production
facility in another country after determining its
technical and economic feasibility.
A company wants to ascertain the satisfaction level of
its employees, the causes for any possible discontent,
and take corrective action.
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Common Business Research Tools
Surveys
Interviews
Observation
ExperimentsAnalysis
Qualitative
Quantitative
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Relevance & Significance
Stay competitive / Business Growth.
Identify customer requirements.
Evaluate performance.
Identify factors influencing performance of
product / people.
Identify causes for an effect.
Identify new opportunities.
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Types of Research
Exploratory / Formulative.
Descriptive.
Causal / Explanatory.
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Exploratory Research
Exploratory research is an initial research,
done to gain better understanding of aproblem.
Undertaken with the aim of clarifying /
narrowing down the problem.
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Exploratory Research
The purpose is to get more information.
Determining a specific action is not a purposeof exploratory research.
As Exploratory study is done at the initial
stage, usually secondary data are used.
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Exploratory Research
Gathering information
Literature Study, search from internet
Information from experts
Focus group interview
Pilot studies
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Secondarydata
& S
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Primary & Secondary data
Primary data
Primary data are those that are generatedspecifically for a work.
A soap manufacturer wants to find out which brand of
soaps are used by households in a city.
Secondary data
These are data already available, generated
for some other purpose. Use census data to find out purchasing power of
households in a city.
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P i d t
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Primary data
Advantage
It allows us to decide methodof data collection that is best
suited to answer the specific
issues.
Have full control on collectingunbiased data.
Disadvantage
Requires lot of time, effortand money.
Fast decision can not be
taken.
Analysis from raw data
takes longer time.
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S d d t
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Secondary data
Advantage
It is economical, It savesefforts, time and money.
It helps understand the
problem better.
It helps identify what
additional data need to be
collected as primary data.
It provides a basis forcomparison of the past work.
Disadvantage
It often does not fit therequirement. You may get
only a few required items
after a long search.
Definition of units, sample,time period may be totally
different.
Accuracy of secondary data
is unknown.
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Lit t R i
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Literature Review
A literature review aims to review the critical
points of current knowledge, findings andcontributions to a topic of interest.
Literature reviews are secondary sources.
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Pil t St d
http://en.wikipedia.org/wiki/Secondary_sourceshttp://en.wikipedia.org/wiki/Secondary_sources -
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Pilot Study
Pilot study is done prior to a full scale study. It
is done with a smaller segment of thepopulation.
Pilot study helps in designing the actual study
in a better way and avoid possible difficulties.
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F i t i
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Focus group interview
Focus group is a group of people (
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Focus group interview
Developed in the 1940s by marketing
researchers for getting information onconsumers feelings about products.
Since 1970s, focus groups are used across
different disciplines.
Can be useful in learning about experiences of
marginalized groups.
Provides forum for expression of interest.
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F i t i
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Focus group interview
In focus groups interview it is possible to
examine participants perceptions(standpoints), motives (strategies), and
experiences (stories).
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D i ti R h
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Descriptive Research
Descriptive research (also called statistical research)describes data and characteristics about the population or phenomenon
being studied.
Choice of cell phone features in different age group.
Descriptive research answers specific research questions.
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C l R h
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Causal Research
Undertaken with the aim of identifying cause
and effect relationships amongst variables.Normally preceeded by exploratory and
descriptive research studies.
Often difficult because of the influence of many
factors present and requires higher order
statistical tools (Discriminant analysis / Factor
analysis / Cluster analysis etc).
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Ethi i R h
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Ethics in Research
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Subjects /
Respondants
Researcher
Clients /
Sponsor
Ethi l B h i
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Ethical Behaviour
Subjects
If agreed to participate in a research study,give true information.
State any constraints or limitations in advance.
Cooperate with the researcher throughout the
course of the study.
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Ethical Behaviour
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Ethical Behaviour
Researcher
Do not conceal purpose of the research.
Maintain objectivity, courtesy and high
professional standards.
No alteration of data for any purposes.
Protect confidentiality of the research subjects
and research sponsors.No faulty conclusions.
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Ethical Behaviour
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Ethical Behaviour
Sponsor / Client
Avoid manipulating and influencing theresearcher.
The conclusions drawn from research work
should be consistent with the data and notinfluenced by any other factors.
Observe the confidentiality of the research
subjects and researcher.
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