process of business research and types

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Unit I

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Page 1: Process of Business Research and Types

Unit I

Page 2: Process of Business Research and Types

Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.

Business Research is 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.

Page 3: Process of Business Research and Types

Studying Research provides the knowledge and skills needed for the fast-paced decision-making environment

Managers need information because• Global and domestic competition is more

vigorous • Organizations are increasingly practicing

data mining and data warehousing

Page 4: Process of Business Research and Types

To gather more information before selecting a course of action

To do a high-level research study To understand research design To evaluate and resolve a current

management dilemma To establish a career as a research

specialist

Page 5: Process of Business Research and Types

Following the standards of the scientific method•Purpose clearly defined•Research process detailed•Research design thoroughly planned

•Limitations frankly revealed•High ethical standards applied

Page 6: Process of Business Research and Types

Following the standards of the scientific method (cont.)

•Adequate analysis for decision-maker’s needs

•Findings presented unambiguously•Conclusions justified•Researcher’s experience reflected

Page 7: Process of Business Research and Types

Manager’s obligations• Specify problems• Provide adequate background information• Access to company information gatekeepers

Researcher’s obligations• Develop a creative research design• Provide answers to important business

questions

Page 8: Process of Business Research and Types

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

Page 9: Process of Business Research and Types

CooperOverview.jpg

Page 10: Process of Business Research and Types

Management Dilemma Research Questions Management Questions Investigative Questions Measurement Questions Management Decision

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Management Dilemma•The symptom of an actual problem•Not difficult to identify a dilemma, however choosing one to focus on may be difficult

Management Question Categories•Choice of purposes or objective•Generation and evaluation of solutions•Troubleshooting or control situation

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Fine tune the Research Question• Examine concepts and constructs • Break research questions into specific

second-and-third-level questions• Verify hypotheses with quality tests• Determine what evidence answers the

various questions and hypothesis• Set the scope of your study

Page 13: Process of Business Research and Types

Investigative Questions•Questions the researcher must answer to satisfactorily arrive at a conclusion about the research question

Measurement Questions•The questions we actually ask or extract from respondents

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To present the question to be researched and its importance

To discuss the research efforts of others who have worked on related questions

To suggest the data necessary for solving the question

Page 15: Process of Business Research and Types

Allows the researcher to plan and review the project’s steps

Serves as a guide throughout the investigation

Forces time and budget estimates

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Executive Summary Problem Statement Research Objectives Literature Review Importance of the

Study Research Design Data Analysis Nature and Form of

Results

Qualifications of Researcher

Budget Schedule Facilities and

Special Resources Project

Management Bibliography Appendices

Page 17: Process of Business Research and Types

A PLAN for selecting the sources and types of information used to answer research questions

A FRAMEWORK for specifying the relationships among the study variables

A BLUEPRINT that outlines each procedure from the hypothesis to the analysis

Page 18: Process of Business Research and Types

Research data may be categorized as Primary (generated by researcher) and Secondary data (generated by others but used in the research).

Factors to consider when designing a data collection strategy - Timing, Mode, and Contacts

Page 19: Process of Business Research and Types

A procedure or plan drawn up before any data are collected to obtain a sample from a given population.

Steps in Sampling Process• Define Population• Identify Sampling Frame• Select Sampling Design or Procedure• Determine Sampling Size• Draw the Sample

Page 20: Process of Business Research and Types

Measurement is typically done by developing an instrument, which can be a questionnaire, an examination, an interview, an observation schedule, etc.

When designing an instrument, keep in mind the following:• Conclusions drawn in a research study are only

as good as the data that is collected.• Data that is collected is only as good as the

instrument that collects the data.• A poorly designed instrument will lead to bad

data, which will lead to bad conclusions.

Page 21: Process of Business Research and Types

A pilot test is a method used to test the design and/or methods and/or instrument prior to carrying out the research

Pilot testing involves conducting a preliminary test of data collection tools and procedures to identify and eliminate problems, allowing programs to make corrective changes or adjustments before actually collecting data from the target population

Page 22: Process of Business Research and Types

Purpose of data collection is to obtain information to keep on record, to make decisions about important issues, or to pass information on to others

Researcher must prepare the data to be analyzed.  Organizing the data correctly can save a lot of time and prevent mistakes. 

Page 23: Process of Business Research and Types

Before undertaking any detailed analysis, responses should be vetted for consistency and completeness. It is important to have a policy for handling inconsistent and or incomplete questionnaires.

It is sometimes necessary to convert nominal and ordinal scale data from category names to numerical scores prior to the data’s being input

Page 24: Process of Business Research and Types

The purpose of the data analysis and interpretation phase is to transform the data collected into credible evidence about the development of the intervention and its performance.

This process includes the following steps:• Organizing the data for analysis (data preparation)• Describing the data• Interpreting the data (assessing the findings

against the adopted evaluation criteria)

Page 25: Process of Business Research and Types

Reports communicate information which has been compiled as a result of research and analysis of data and of issues.

It usually focus on transmitting information with a clear purpose, to a specific audience.

Good reports are documents that are accurate, objective and complete. 

Page 26: Process of Business Research and Types

R&D does have an impact on decision-making by policy-makers and practitioners

Extent to which research is used and has influence on decision-making can be enhanced by the actions of the stakeholders

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Page 28: Process of Business Research and Types

Descriptive vs. Analytical Applied vs. Fundamental Quantitative vs. Qualitative Conceptual vs. Empirical Some other types

• One time Research vs. Longitudinal Research• Field setting or Laboratory or Simulation Research• Clinical or Diagnostic Research• Exploratory vs. Formalized Research• Historical Research• Conclusion oriented or Decision oriented

Page 29: Process of Business Research and Types

Descriptive Research (otherwise known as Ex-post facto research): Description of state of affairs as it exists at present• No control over variables• Can only report what has happened or already

happening Analytical Research : Researcher has to

use facts or information already available and analyze these to make a critical evaluation of the material.

Page 30: Process of Business Research and Types

Applied (or Action) Research : Aims to finding a solution for an immediate problem facing the society or business organization

Fundamental (or Basic or Pure) Research: Concerned with generalizations and formulation of theory; Directed towards finding information that has broad range of applications and adds to already existing organized body of scientific knowledge

Page 31: Process of Business Research and Types

Quantitative Research : Based on measurement of quantity or amount

Qualitative Research : Concerned with phenomenon relating to or involving quality or kind; aims at discovering underlying motives and desires

Page 32: Process of Business Research and Types

Conceptual Research : related to abstract ideas or theory; generally used by philosophers and thinkers to develop new concepts or to reinterpret existing ones

Empirical Research : relies on experience and observation alone often without due regard to theory; data-based research coming up with conclusions and capable of being verified by observation or experiment

Page 33: Process of Business Research and Types

One time research : Confined to single time period

Longitudinal research : research is carried on over several time periods

Field-setting or Laboratory-setting or Simulation research : based on the environment in which it is to be carried out

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Clinical or Diagnostic research : usually go deep into causes of things or events that interest us, using very small samples and very deep probing data gathering devices

Exploratory research : objective is development of hypothesis rather than their testing

Formalized research : research with substantial structure and with specific hypothesis to be tested

Page 35: Process of Business Research and Types

Historical research : uses historical sources like documents, remains etc., to study events or ideas of the past including philosophy of persons or groups at any remote point of time

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Obtrusive Research : The researcher introduces conditions that influence participants; manipulates the environment

Non-Obtrusive Research : Researcher avoids influencing subjects in any way and tries to be as inconspicuous as possible

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Experimental Research : An experiment is a research situation where at least one independent variable, called the experimental variable, is deliberately manipulated or varied by the researcher

Correlation Research : To find relationships between two or more variable so to: • Better understand the conditions and events that

we encounter (what goes with what) • To predict future conditions and events. • Correlations do not show cause and effect