Business research-process

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  • 1. The Business Research Process
  • 2. Information‡ Reduces uncertainty‡ Helps focus decision making
  • 3. Types Of Research‡ Exploratory‡ Descriptive‡ Causal
  • 4. Uncertainty Influences The Type Of ResearchCAUSAL OR COMPLETELY ABSOLUTE EXPLORATORYDESCRIPTIVE CERTAIN AMBIGUITY
  • 5. Degree of Problem DefinitionExploratory Research Descriptive Research Causal Research(Unaware of Problem) (Aware of Problem) (Problem Clearly Defined) ³Our sales are declining and ³What kind of people are buying ³Will buyers purchase more of we don¶t know why.´ our product? Who buys our our products in a new package? competitor¶s product?´ ³Would people be interested ³Which of two advertising in our new product idea?´ ³What features do buyers prefer campaigns is more effective?´ in our product?´
  • 6. Exploratory Research Secondary data Experience survey Pilot studies 6
  • 7. Exploratory Research‡ Initial research conducted to clarify and define the nature of a problem‡ Does not provide conclusive evidence‡ Subsequent research expected
  • 8. Descriptive Research‡ Describes characteristics of a population or phenomenon‡ Some understanding of the nature of the problem
  • 9. I keep six honest serving men, (theytaught me all I knew), their names arewhat, and why, and when, and how,and where and who.µ --Rudyard Kipling 9
  • 10. Descriptive Research Example‡ Weight Watchers average customer‡ Woman about 40 years old‡ Household income of about $50,000‡ At least some college education‡ Trying to juggle children and a job
  • 11. Descriptive Research Example‡ Men¶s fragrance market‡ 1/3 size of women¶s fragrance market‡ But growing at a faster pace‡ Women buy 80 % of men¶s fragrances
  • 12. Causal Research‡ Conducted to identify cause and effect relationships
  • 13. Identifying Causality‡ A causal relationship is impossible to prove.‡ Evidence of causality: ± 1. The appropriate causal order of events ± 2. Concomitant variation--two phenomena vary together ± 3. An absence of alternative plausible explanations
  • 14. Stages of the Research ProcessProblem Discovery Discovery and and Definition Definition Research and so on Design Conclusions and Report Sampling Data Processing and Analysis Data Gathering
  • 15. Research Stages‡ Cyclical process - conclusions generate new ideas‡ Stages can overlap chronologically‡ Stages are functionally interrelated ± Forward linkages ± Backward linkages
  • 16. Problem Discovery Problem Selection of and Definition discovery exploratory research technique Sampling Selection of exploratory research technique Probability No probability Secondary Experience Pilot Case Collection of (historical) Data survey study study data data Gathering (fieldwork) Data Editing and Problem definition Processing coding (statement of and Analysis data research objectives) Data Selection of processingResearch Design basic research method Conclusions Interpretation and Report of findings Experiment Survey Secondary Laboratory Field Interview Questionnaire Observation Data Study Report
  • 17. Problem Discovery And Definition‡ First step‡ Problem, opportunity, or monitor operations‡ Discovery before definition‡ Problem means management problem
  • 18. Defining Problem Results in Clear Cut Research ObjectivesSymptom Detection Analysis of the Situation Exploratory Research (Optional)Problem Definition Statement ofResearch Objectives
  • 19. ³The formulation of the problem is often more essential than its solution´ Albert Einstein
  • 20. State the researchquestions and research objectives 20
  • 21. Hypothesis‡ A statement‡ that can be refuted‡ by empirical data
  • 22. If you do not know where you are going, any road will take you there.
  • 23. Experience CaseSecondary Pilot Study Survey(historical) historical) Study Data Exploratory Research
  • 24. Exploratory Research Techniques Two Examples‡ Secondary data (historical data) ± Previously collected ± Census of population ± Literature survey‡ Pilot study ± A number of diverse techniques
  • 25. Focus Group Interview
  • 26. Basic Research Methods‡ Surveys‡ Experiments‡ Secondary data‡ Observation
  • 27. Selecting a SampleSample: subset SAMPLEof a larger population. population. POPULATION
  • 28. Sampling‡ Who is to be sampled?‡ How large a sample?‡ How will sample units be selected?
  • 29. Data Gathering Stage
  • 30. Data Processing and Analysis
  • 31. Conclusions And Report Writing‡ Effective communication of the research findings
  • 32. Conclusions and Report‡ Report must contain executive summary, introduction, review of past research, methodology, results, conclusions, and recommendations.‡ Report must contain enough information for the study to be replicated