Introduction to Business Research

Prepared by: mahrukh pervaiz

1-2

• Business research is defined as the systematic and objective process of generating information for aid in making business decisions.

• Including financial research, operational research, Marketing research

Business Research

1-3

Scope of business research Business research helps decision makers shift

from intuitive information gathering to systematic and objective investigation.

While researchers in different functional areas may investigate different phenomena, they are comparable to one another because they use similar research methods.

The scope of business research is limited by one’s definition of “business”.

A broader definition of business includes not-for-profit organization.

The term “Business Research” is utilized because all its techniques are applicable to business settings.

1-4

Classification of research

Purpose of doing research Intended uses of research Time dimension of research Research techniques

1-5

Basic research

Applied research

Purpose of doing research

1-6

Basic Research Basic (Pure) Research attempts to

expand the limits of knowledge.

It is not directly involved in the solution to a pragmatic problem.

The findings generally cannot be immediately implemented.

Basic research is conducted to verify the acceptability of a given theory or to know more about a certain concept.

1-7

Applied Research

Conducted when a decision must be made about a specific real-life problem

They want to answer a policy question or solve a pressing social , and economic problem

Types of applied research: Action research Impact assessment

research Evaluation research

1-8

Time dimension in research

Cross sectional research:

In cross sectional research , researchers

observe at one point in time

Longitudinal research: Researcher using longitudinal research

examine feature of people or other units at

more then one time

1-9

Research techniques

Every researcher collect data using one or more techniques:

1.Quantitative Collecting data in the form of numbersMain techniques: experiment survey content analysis using existing statistic2.Qualitative Collecting data in the form of words or pictureMain technique: field research case study focus group

1-10

Scientific Method

The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptions.

1-11Managerial value of business research

The Decision-making Process Associated with the Development

and Implementation of a Strategy

Identifying problems and opportunities

Diagnosis and assessment

Selecting and implementing a course of action

Evaluating the course of action

1-12

Evaluation Research

Evaluation research is the formal, objective measurement and appraisal of the extent to which a given activity, project, or program has achieved its objectives.

Performance-monitoring Research

Research that regularly provides feedback for evaluation and control

Indicates things are or are not going as planned

Research may be required to explain why something “went wrong”

1-13Determining When to Conduct Business Research

Time constraints Availability of data Nature of the decision Benefits versus costs

Value versus Costs Potential Value of a Business Research Effort Should Exceed Its Estimated Costs

1-14

Value

• Decreased certainty• Increased likelihood

of a correct decision

• Improved business performance and resulting higher profits

Costs• Research

expenditures• Delay of business

decision and possible disclosure of information to rivals

• Possible erroneous research results

Value Should Exceed Estimated Costs

1-15

Major Topics for Research in Business

General Business Conditions and Corporate Research

Financial and Accounting Research

Management and Organizational Behavior Research

Sales and Marketing Research Information Systems Research Corporate Responsibility

Research

1-16