Process of Business Research and Types


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Process of Business Research and Types

  1. 1. Unit I
  2. 2.  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.
  3. 3.  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
  4. 4.  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
  5. 5.  Following the standards of the scientific method • Purpose clearly defined • Research process detailed • Research design thoroughly planned • Limitations frankly revealed • High ethical standards applied
  6. 6.  Following the standards of the scientific method (cont.) • Adequate analysis for decision-maker’s needs • Findings presented unambiguously • Conclusions justified • Researcher’s experience reflected
  7. 7.  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
  8. 8.  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
  9. 9. CooperOverview.jpg
  10. 10.  Management Dilemma  Research Questions  Management Questions  Investigative Questions  Measurement Questions  Management Decision
  11. 11.  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
  12. 12.  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
  13. 13.  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
  14. 14.  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
  15. 15.  Allows the researcher to plan and review the project’s steps  Serves as a guide throughout the investigation  Forces time and budget estimates
  16. 16.  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
  17. 17.  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
  18. 18.  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
  19. 19.  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
  20. 20.  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.
  21. 21.  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
  22. 22.  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. 
  23. 23.  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
  24. 24.  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)
  25. 25.  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. 
  26. 26.  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
  27. 27.  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
  28. 28.  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.
  29. 29.  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
  30. 30.  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
  31. 31.  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
  32. 32.  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
  33. 33.  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
  34. 34.  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
  35. 35.  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
  36. 36.  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