Business Research Method: Session 2
Business Research Method: Session 2
Business Research Method: Session 2
Session 2
Selected Examples of Real-Life Situations in Which
Business Research Methods are Used
A firm wants to produce and market a new product but first wants to ascertain
if there is a potential consumer demand for this product in markets x,y and z
A multinational firm wants to establish a production facility in another country
after determining its technical and economic feasibility
A government agency wants to ascertain the satisfaction level of its employees,
the causes for any possible discontent, and propose a scheme for enhancing
this level
A financial institution wants to invest in commodities and commissions a study
to determine the past trends and forecast future returns in a portfolio of
commodities
The CEO of a firm wants to undertake a SWOT-Analysis as part of his plan to
redefine his organization’s priorities
2
Purpose of Research
The purpose of research is to:
• Review or synthesize existing knowledge,
• Investigate existing situations or problems,
• Provide solutions to problems,
• Explore and analyze more general issues,
• Construct or create new procedures or systems,
• Explain new phenomenon,
• Generate new knowledge,
• … or a combination of any of the above!!!
Introduction to Research 3
What is considered as Research?
• Enhancement from previous work
• Replication study
• Something totally new
• Adding knowledge to the existing knowledge
structure
Introduction to Research 4
Criteria for research
MUST have: a clearly stated research purpose/ objective
MUST have: a sequential plan of execution
MUST have: a logical and explicitly stated justification for the
selected methods
MUST have: an unbiased and neutral method of conduct and
reporting
MUST have: complete transparency and ethical conduction of
the research process
MUST have: provision for being reliable & replicable
Introduction to Research 5
Research Method and Methodology
• Research methodology refers to the overall
approaches and perspectives to the research process
as a whole and is concerned with the following main
issues:
• Why you collect certain data
• What data you collected
• Where you collected it
• How you collected it
• How you analyzed it
• A research method refers only to the various specific
tools or ways data can be collected and analyzed, e.g.
a questionnaire, interview checklist, etc.
Introduction to Research 6
Determining When to Conduct
Business Research
• Time constraints
• Availability of data
• Nature of the decision
• Benefits versus costs
When Should Business Research be Undertaken?
Is sufficient time
available?
Yes
Is information
inadequate? NO Do not
undertake Business Research
Yes
High importance
of decision?
Yes
Research benefits
greater than costs? Undertake Business Research
Value Should Exceed
Estimated Costs
Costs
Value •Research
expenditures
•Decreased
•Delay of business
uncertainty
decision and
•Increased likelihood
possible disclosure
of a correct decision
of information to
•Improved business
rivals
performance and
•Possible erroneous
resulting higher
research results
profits
Quiz Time
• Of the following statements which reflects why
business research information is advantageous for a
managerial decision?
• It describes what is occurring in the marketplace.
• It may provide detailed information about specific
mistakes or why failures occurred.
• It provides information to help managers learn about
changing environments.
• All of the above are reasons
Introduction to Research 10
Quiz 2
• The primary function of business research is to:
• Provide the solution to a business problem.
• Attempt to predict future behavior.
• Identify personal needs.
• Provide information to assist managers in making
decisions.
Introduction to Research 11
Quiz 3
• A research that is oriented towards building
theories and models in the field of management is
called:
• Theoretical research
• Model testing research
• Basic research
• Management research
• None of the above
• All of the above
Introduction to Research 12
Quiz 4
• Applied research is directed towards
a. Problem solving
b. Action oriented research
c. Real time problems
d. Management decision making
e. a&b
f. All of the above
Introduction to Research 13
Quiz 5
• A company wants to know what are the problems
faced by employees in the night shift duties. The
company is intending to undertake
• Pure research
• Applied research
• Basic research
• Causal research
Introduction to Research 14
Quiz 6
• Indigo wants to evaluate the impact of a
promotional offer of thousand rupees off on return
ticket fares on ticket sales. The kind of research
being conducted is
• Applied research
• Conclusive research
• Causal research
• Management research
• All of the above
• None of the above
Introduction to Research 15
Quiz 7
• How many people visit the mall on a weekend is an
example of
• Applied research
• Conclusive research
• Basic research
• Causal research
• Descriptive research
• All of the above
Introduction to Research 16
Quiz 8
• The Census carried out by the Government of India
is an example of
• Applied research
• Conclusive research
• Basic research
• Causal research
• Descriptive research
• All of the above
Introduction to Research 17
Quiz 9
• The impact of higher interest rates in PPF (public
provident fund) on individuals investment in the
instrument is an example of
• Applied research
• Conclusive research
• Basic research
• Causal research
• Descriptive research
• All of the above
Introduction to Research 18
Quiz 10
• Which of the following problems require research
• Acceptance of a recycled paper packaging at McDonalds
• Flexible work hours on turnover intentions
• Acceptance of more women oriented serials on prime
time
• Investments in insurance policies
• Voting patterns of western versus eastern UP
• a&b
• a&c
• All of the above
Introduction to Research 19
The
Management Dilemma
Basic vs Applied
Instrument Design
Pilot Testing
Data Collection
Research Reporting
Introduction to
Management Research Decision
/ Research 20
Defining the research problem
Independent variable
Dependent variable
Moderating variables