Mba2216 week 01 intro

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BUSINESS RESEARCH INTRODUCTION

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  • Mba2216 week 01 intro

    1. 1. The Nature of Business &The Nature of Business &Management ResearchManagement ResearchThe Nature of Business &The Nature of Business &Management ResearchManagement ResearchMBA2216 BUSINESS RESEARCH PROJECTMBA2216 BUSINESS RESEARCH PROJECTbyStephen OngVisiting Fellow, Birmingham CityUniversity, UK
    2. 2. Topics of DiscussionTopics of Discussion1.1. Introduction to Research :Introduction to Research :What is Research?What is Research?2.2. Research and BusinessResearch and Business3.3. Scientific ResearchScientific Research4.4. The Research ProcessThe Research Process
    3. 3. INTRODUCTION TOINTRODUCTION TORESEARCHRESEARCH111 - 3
    4. 4. What is Research?What is Research? Robert has Developed ‘Protein-based ComputerRobert has Developed ‘Protein-based ComputerMemories”.Memories”. ““Many agree that any kind of Malaria Vaccine is notMany agree that any kind of Malaria Vaccine is notperfect”.perfect”. ““Government (Malaysian) will amend the CompaniesGovernment (Malaysian) will amend the CompaniesAct soon to enhance Corporate Governance”.Act soon to enhance Corporate Governance”. ““US FDI shifts to service-Based Business (inUS FDI shifts to service-Based Business (inMalaysia)”.Malaysia)”. ““Global Oil Production Up 185000 bpd in NovemberGlobal Oil Production Up 185000 bpd in November2002”2002”
    5. 5. What Research Is NotWhat Research Is Not Research isn’t information gathering:Research isn’t information gathering: Gathering information from resources such booksGathering information from resources such booksor magazines isn’t research.or magazines isn’t research. No contribution toNo contribution to new knowledgenew knowledge.. Research isn’t the transportation of facts:Research isn’t the transportation of facts: Merely transporting facts from one resource toMerely transporting facts from one resource toanother doesn’t constitute research.another doesn’t constitute research. No contribution to new knowledge although thisNo contribution to new knowledge although thismight make existing knowledge more accessible.might make existing knowledge more accessible.
    6. 6. What Research IsWhat Research Is Research is:Research is:“…“…the systematic process of collectingthe systematic process of collectingand analyzing information (data) inand analyzing information (data) inorder to increase ourorder to increase our understandingunderstanding ofofthethe phenomenonphenomenon about which we areabout which we areconcerned or interested.”concerned or interested.”
    7. 7. ResearchResearch Research is the way of thinking, examiningResearch is the way of thinking, examiningcritically the various aspects of yourcritically the various aspects of yourprofession, understanding and formulatingprofession, understanding and formulatingguiding principles that govern a particularguiding principles that govern a particularprocedure and developing and testing newprocedure and developing and testing newtheories for the enhancement of yourtheories for the enhancement of yourprofession. It is a habit of questioning aboutprofession. It is a habit of questioning aboutwhat you do and empirical examination towhat you do and empirical examination tofind answers, with a view to institutingfind answers, with a view to institutingappropriate changes for a more effectiveappropriate changes for a more effectiveprofessional services.professional services.
    8. 8. Business research is defined as thesystematic and objective process ofgenerating information for solving aproblem or finding solution to acomplex issue (aid in makingbusiness decisions).Business Research DefinedBusiness Research Defined
    9. 9. Business ResearchBusiness Research Literally, research (re-search) -“searchLiterally, research (re-search) -“searchagain”again” Business research must be objectiveBusiness research must be objective Detached and impersonal rather thanDetached and impersonal rather thanbiasedbiased It facilitates the managerial decisionIt facilitates the managerial decisionprocess for all aspects of a business.process for all aspects of a business.
    10. 10. Objectives of BusinessObjectives of BusinessResearchResearch To extends knowledgeTo extends knowledge To discovered new informationTo discovered new information Theory buildingTheory building To verify and test existing facts and theoryTo verify and test existing facts and theory To analysis inter-relationships betweenTo analysis inter-relationships betweenvariablesvariables Aims to find solution to current problemAims to find solution to current problem In total, to make more effective professionalIn total, to make more effective professionalservicesservices
    11. 11. Types/Classifications ofTypes/Classifications ofResearchResearch The research can be classified fromThe research can be classified fromthree perspectives:three perspectives: ApplicationApplication Basic or pure and applied researchBasic or pure and applied research ObjectivesObjectives Exploratory, Descriptive, or explanatoryExploratory, Descriptive, or explanatory(causal, hypothesis testing)(causal, hypothesis testing) Type of informationType of information Qualitative and quantitativeQualitative and quantitative
    12. 12. Figure 1.1 Basic and applied researchSources: Authors’ experience; Easterby-Smith et al. (2008), Hedrick et al. (1993)
    13. 13. Types of ResearchTypes of Research(Basic)(Basic) Basic ResearchBasic Research Generating scientific knowledge for future useGenerating scientific knowledge for future use(Common use). It also known as pure or(Common use). It also known as pure orfundamental research. Basic research isfundamental research. Basic research isundertaken for the sake of knowledge without anyundertaken for the sake of knowledge without anyintention to apply it in practice. It is undertakenintention to apply it in practice. It is undertakenout of intellectual curiosity. It may lead toout of intellectual curiosity. It may lead todiscovery of new theory or refinement of andiscovery of new theory or refinement of anexisting theory. The findings or basic researchexisting theory. The findings or basic researchenrich the storehouse of knowledge that can beenrich the storehouse of knowledge that can bedrawn upon in future to formulate significantdrawn upon in future to formulate significantpractical research.practical research.
    14. 14. Types of ResearchTypes of Research(Applied)(Applied) Applied Research:Applied Research: Applied research is carried on to findApplied research is carried on to findsolution to a real life problem oriented andsolution to a real life problem oriented andaction directed. It seeks an immediate andaction directed. It seeks an immediate andpractical results. However, it maypractical results. However, it mayindirectly contribute to the development ofindirectly contribute to the development oftheoretical knowledge by leading to atheoretical knowledge by leading to adiscovery of new facts or testing of adiscovery of new facts or testing of atheory or to conceptual clarity.theory or to conceptual clarity.
    15. 15. Basic ResearchBasic Research Attempts to expand the limits ofAttempts to expand the limits ofknowledge.knowledge. Not directly involved in the solution toNot directly involved in the solution toa practical problem.a practical problem.
    16. 16. Basic Research ExampleBasic Research Example Is executive success correlated withIs executive success correlated withhigh need for achievement?high need for achievement? Coupons versus rebates as demandCoupons versus rebates as demandstimulation tacticsstimulation tactics Compensation Systems and LabourCompensation Systems and LabourProductivityProductivity Factors determining share pricesFactors determining share prices
    17. 17. Applied ResearchApplied Research Conducted when a decision must beConducted when a decision must bemade about a specific real-life problemmade about a specific real-life problem
    18. 18. Applied Research ExamplesApplied Research Examples Should McDonalds addShould McDonalds addItalian pasta dinners to itsItalian pasta dinners to itsmenu?menu? Business research toldBusiness research toldMcDonald’s it should not?McDonald’s it should not? Should Procter & Gamble addShould Procter & Gamble adda high-priced home teetha high-priced home teethbleaching kit to its productbleaching kit to its productline?line? Research showed Crest WhiteResearch showed Crest Whitestrips would sell well at a retailstrips would sell well at a retailprice of RM44price of RM44
    19. 19. Basic Differences BetweenBasic Differences BetweenBasic and Applied ResearchBasic and Applied Research Applied ResearchApplied Research ““what is the problem”what is the problem”is an important step inis an important step inresolving that problem.resolving that problem. What problems toWhat problems toanalysis may be outsideanalysis may be outsidethe individual researcherthe individual researcherdomaindomain Researcher role isResearcher role isexamine analytically andexamine analytically andaa course of actioncourse of actionrecommendedrecommended Basic ResearchBasic Research Problem based on theProblem based on theresearcher interest toresearcher interest toexplain andexplain andunderstanding of theunderstanding of thesubjectsubject Selection of theSelection of theproblem is totally theproblem is totally thechoicechoice of theof theresearcherresearcher Some value judgmentSome value judgmentmay be made, action ismay be made, action isnot recommendednot recommended
    20. 20. Exploratory ResearchExploratory Research It is undertaken to find out ‘It is undertaken to find out ‘what iswhat ishappeninghappening, to seek insights, to ask, to seek insights, to askquestion and to assess phenomena inquestion and to assess phenomena ina new light. It is useful if you wish toa new light. It is useful if you wish toclarify your understanding of aclarify your understanding of aproblem. This is carried out toproblem. This is carried out toinvestigate the possibilities ofinvestigate the possibilities ofundertaking a particular researchundertaking a particular researchstudy.study.
    21. 21. Descriptive ResearchDescriptive Research Attempts toAttempts to describe systematicallydescribe systematically aasituation, problem, phenomenon,situation, problem, phenomenon,programme or provide informationprogramme or provide informationabout living conditions, or describesabout living conditions, or describesattitudes towards an issue.attitudes towards an issue.
    22. 22. Correlation ResearchCorrelation Research Discover the relationship/ association /Discover the relationship/ association /interdependenceinterdependence between two or morebetween two or morevariables or situations.variables or situations.
    23. 23. Explanatory ResearchExplanatory Research Study and explain theStudy and explain the exactexactrelationshiprelationship between two or morebetween two or morevariables.variables.
    24. 24. RESEARCH AND BUSINESSRESEARCH AND BUSINESS221 - 24
    25. 25. Research and BusinessResearch and Business Primary objective is to providePrimary objective is to provideinformation that improves theinformation that improves thedecision-making processdecision-making process of anof anorganization.organization. These information reduce managerialThese information reduce managerialuncertaintyuncertainty in each stages ofin each stages ofdevelopment and implementation of adevelopment and implementation of astrategy.strategy.
    26. 26. Business Managers andBusiness Managers andResearchResearch Nestle buysNestle buysPfizer’s Nutrition.Pfizer’s Nutrition. Monsanto’s GMOMonsanto’s GMOwheat found inwheat found inOregon.Oregon. ““Instagram andInstagram andFacebook Merges”.Facebook Merges”.
    27. 27. The Decision-making ProcessThe Decision-making ProcessAssociated with the DevelopmentAssociated with the Developmentand Implementation of a Strategyand Implementation of a Strategy Identifying problems andIdentifying problems andopportunitiesopportunities Diagnosis and assessmentDiagnosis and assessment Selecting and implementing a courseSelecting and implementing a courseof actionof action Evaluating the course of actionEvaluating the course of action
    28. 28. Determining When to ConductDetermining When to ConductBusiness ResearchBusiness Research Time constraintsTime constraints Availability of dataAvailability of data Nature of the decisionNature of the decision Benefits versus costsBenefits versus costs
    29. 29. Is sufficient timeIs sufficient timeavailable beforeavailable beforea manageriala managerialdecisiondecisionmust be made?must be made?Is the infor-Is the infor-mation alreadymation alreadyon handon handinadequateinadequatefor makingfor makingthe decision?the decision?Is the decisionIs the decisionof considerableof considerablestrategicstrategicor tacticalor tacticalimportance?importance?Does the valueof the researchinformationexceed the costof conductingresearch?ConductingConductingBusinessBusinessResearchResearchDo Not Conduct Business ResearchTime ConstraintsTime ConstraintsAvailability ofAvailability ofDataData Nature of the DecisionNature of the DecisionBenefitsBenefitsvs. Costsvs. CostsYes YesYesYesNo No No NoDetermining When to ConductDetermining When to ConductBusiness ResearchBusiness Research
    30. 30. Value versus CostsValue versus Costs Potential Value of a BusinessPotential Value of a BusinessResearch Effort Should Exceed ItsResearch Effort Should Exceed ItsEstimated CostsEstimated Costs
    31. 31. Value•Decreaseduncertainty•Increased likelihoodof a correct decision•Improved businessperformance andresulting higherprofitsCosts•Researchexpenditures•Delay of businessdecision andpossible disclosureof information torivals•Possible erroneousresearch resultsValue Should ExceedValue Should ExceedEstimated CostsEstimated Costs
    32. 32. Why should a Manager KnowWhy should a Manager KnowResearch?Research? Facilitate good decision makingFacilitate good decision making Become discriminating about researchBecome discriminating about researchfindingsfindings Issues of inside versus outsideIssues of inside versus outsideresearcherresearcher To share relevant information withTo share relevant information withresearcherresearcher Understand complex issues, variables,Understand complex issues, variables,calculate risk, probabilities, etc.calculate risk, probabilities, etc.
    33. 33. Internal ResearcherInternal Researcher Advantages:Advantages: Better acceptance from the staffBetter acceptance from the staff Knowledge about the organizationKnowledge about the organization Would be integral part of implementationWould be integral part of implementationand evaluation of the researchand evaluation of the researchrecommendationsrecommendations Limitations:Limitations: Less fresh ideasLess fresh ideas Power PoliticsPower Politics May not be valued as experts by staffMay not be valued as experts by staff
    34. 34. External ResearcherExternal Researcher Advantages:Advantages: Divergent and convergent thinkingDivergent and convergent thinking Experience from several situationsExperience from several situations Better technical trainingBetter technical training Limitations:Limitations: Time to understand the organizational systemTime to understand the organizational system Cooperation from the staffs is not easyCooperation from the staffs is not easy Leakage of business secretesLeakage of business secretes Not available for evaluation afterNot available for evaluation afterimplementationimplementation costcost
    35. 35. SCIENTIFIC RESEARCHSCIENTIFIC RESEARCH331 - 35
    36. 36. Approach to BusinessApproach to BusinessResearchResearch Scientific ResearchScientific Research Characteristics of ScientificCharacteristics of ScientificResearchResearch Process of Scientific ReasoningProcess of Scientific Reasoning Hypothetico-deductive MethodHypothetico-deductive Method Case StudyCase Study Action ResearchAction Research
    37. 37. Characteristics of ScientificCharacteristics of ScientificResearchResearch PurposivePurposive RigourRigour TestabilityTestability ReplicabilityReplicability Precision and ConfidencePrecision and Confidence ObjectivityObjectivity ParsimonyParsimony
    38. 38. Scientific Approach andScientific Approach andBusiness ResearchBusiness Research It is not always possible to conduct investigationIt is not always possible to conduct investigation100 percent scientific100 percent scientific in business research.in business research. Unlike the physical sciences, the results obtainedUnlike the physical sciences, the results obtainedwill not be exact and error free, since most of thewill not be exact and error free, since most of thebusiness research deals withbusiness research deals with human behaviourhuman behaviour.. It is very difficult to measure and collect ofIt is very difficult to measure and collect ofsubjectivesubjective information like, feelings, emotions,information like, feelings, emotions,attitudes and etc.attitudes and etc. Hence, it may not possible forHence, it may not possible for comparability,comparability,consistency and wide generalizabilityconsistency and wide generalizability in most ofin most ofthe business research.the business research.
    39. 39. Logical Reasoning ProcessLogical Reasoning Process InductionInduction The inductive method consists of studyingThe inductive method consists of studyingseveral individual cases and drawing aseveral individual cases and drawing ageneralization. It involves two process –generalization. It involves two process –observation and generalizationobservation and generalization. Conclusions. Conclusionsfrom induction are tentative inferences andfrom induction are tentative inferences andthey are subject to further confirmation basedthey are subject to further confirmation basedon more evidence.on more evidence. DeductionDeduction Deduction is reasoning process of applying aDeduction is reasoning process of applying ageneral accepted principlegeneral accepted principle to a specificto a specificindividual case falling under the generalindividual case falling under the generalprinciple.principle.
    40. 40. InductionInduction Form of reasoning – bottom upForm of reasoning – bottom upObservationsMeasuresIdentifyingPatternsTentativeHypothesis orpropositionTheory
    41. 41. Induction MethodInduction Method Example: “Advertising ExpenditureExample: “Advertising Expenditureand Sales”and Sales” Observe the facts, collect relevantObserve the facts, collect relevantdata, then look for the pattern ordata, then look for the pattern orsummarize the observation andsummarize the observation andfinally tentative conclusions.finally tentative conclusions. When followed: When new facts areWhen followed: When new facts arestudied, new truth are uncovered.studied, new truth are uncovered.
    42. 42. DeductionDeduction Top down reasoningTop down reasoningTheoryHypothesisTo testObservations to addressthe hypothesisTest the hypothesis with specific dataConfirm/or disconfirmthe original hypothesis
    43. 43. Deductive MethodDeductive MethodReasoning form theReasoning form the general to the particulargeneral to the particularLike: All Men are mortalLike: All Men are mortal““A” is a manA” is a manConclusion: “A” is mortalConclusion: “A” is mortalExample: “Advertising Expenditure and Sales”Example: “Advertising Expenditure and Sales”Hypothesis:Hypothesis: “There is a positive relationship between“There is a positive relationship betweenexpenditure on advertising and sales revenue”expenditure on advertising and sales revenue”Make ObservationMake ObservationAccept or reject hypothesis.Accept or reject hypothesis.
    44. 44. Hypothetico-deductiveHypothetico-deductiveMethodMethod The method of starting with aThe method of starting with atheoretical framework,theoretical framework,formulating hypothesesformulating hypotheses andandlogically deducinglogically deducing from the results offrom the results ofthe study is known as the hypothetico-the study is known as the hypothetico-deductive method. This method is muchdeductive method. This method is muchpopular in business research. Thispopular in business research. Thismethod involves seven important steps.method involves seven important steps.
    45. 45. Process in Hypothetico-deductiveProcess in Hypothetico-deductiveMethodMethod1.1. ObservationObservation2.2. Preliminary informationPreliminary informationgatheringgathering3.3. Theory formulationTheory formulation4.4. HypothesizingHypothesizing5.5. Data collectionData collection6.6. Data AnalysisData Analysis7.7. DeductionDeduction
    46. 46. Case StudyCase Study To examine complex factors involved in a givenTo examine complex factors involved in a givensituation so as to identifysituation so as to identify causal factorscausal factors operating in it.operating in it. A case study aims at studying everything aboutA case study aims at studying everything aboutsomething rather than something about everything, assomething rather than something about everything, asin the case of a statistical method or quantitativein the case of a statistical method or quantitativeanalysis. In quantitative analysis, ‘individual’analysis. In quantitative analysis, ‘individual’disappears and in the case of case studydisappears and in the case of case study ‘individual’‘individual’representing the wholeness.representing the wholeness. Suitability: This flexible method provide muchSuitability: This flexible method provide muchinformation about the unit of analysis. However, it hasinformation about the unit of analysis. However, it haslimited use in business research due tolimited use in business research due to its limitedits limitedgeneralizationgeneralization and it is aand it is a time consumingtime consuming method ofmethod ofresearch.research. Examples: A Study of Labour Participation in Management in a particularExamples: A Study of Labour Participation in Management in a particularEnterprise ; A Study of life-style of Working Women.Enterprise ; A Study of life-style of Working Women.
    47. 47. Action ResearchAction Research It is a type of evaluation study. It is aIt is a type of evaluation study. It is aconcurrent evaluation study of anconcurrent evaluation study of anaction programmeaction programme launched tolaunched to solve asolve aproblem or to improveproblem or to improve an existingan existingsituation. It consists of a number ofsituation. It consists of a number ofphases, like,phases, like, base-line survey,base-line survey,systematic action and assessmentsystematic action and assessment. It is. It isa concurrent evaluation study of ana concurrent evaluation study of anaction programme launched for solvingaction programme launched for solvinga problem/for improving an existinga problem/for improving an existingsituation.situation.
    48. 48. THE RESEARCH PROCESSTHE RESEARCH PROCESS441 - 48
    49. 49. Figure 1.2 The research processSource: © Mark Saunders, Philip Lewis and Adrian Thornhill 2011
    50. 50. 1 - 50Figure 1.1 A simple concept map showing representation of competitive advantageSource: Institute for Manufacturing (www.ifm.eng.cam.ac.uk/csp/news/05april/4.html)
    51. 51. 1 - 51Grand, middle-range and substantive theoriesGrand, middle-range and substantive theoriesSourceSource: Saunders et al. (2009), developed from Creswell (2008): Saunders et al. (2009), developed from Creswell (2008)
    52. 52. RESEARCH IDEARESEARCH IDEAGENERATIONGENERATION551 - 52
    53. 53. 2 - 53How Creative Are You?How Creative Are You?HundredHundredChun HundredChun HundredChun HundredChun HundredChun HundredChun HundredChun HundredChun HundredOORRH EH ES WS WSSUmph Umph UmphUmph Umph UmphOf the SpiritOf the SpiritGrace.Grace.StandStandIIS MediaS Media2 1111 STO CK2 1111 STO CK THEBLUEFACETHEBLUEFACEIntensityIntensityS H E E TS H E E TObjectionObjectionRuledRuledW E BW E B Roll RollRoll RollRoy RoyRoy RoyTomb of 210,NTomb of 210,NScholar
    54. 54. 2 - 54Brainstorming GuidelinesBrainstorming Guidelines Keep the group small – “Two pizza rule.”Keep the group small – “Two pizza rule.” Make the group as diverse as possible.Make the group as diverse as possible. Emphasize that company rank isEmphasize that company rank isirrelevant.irrelevant. Have a well-defined problem, but don’tHave a well-defined problem, but don’treveal it ahead of time.reveal it ahead of time. Limit the session to 40 to 60 minutes.Limit the session to 40 to 60 minutes. Take a field trip.Take a field trip. Appoint a recorder.Appoint a recorder.
    55. 55. 2 - 55Brainstorming GuidelinesBrainstorming Guidelines Use a seating pattern that encouragesUse a seating pattern that encouragesinteraction.interaction. Throw logic out the window.Throw logic out the window. EncourageEncourage allall ideas from the team.ideas from the team. Shoot forShoot for quantityquantity of ideas overof ideas over qualityquality ofofideas.ideas. ForbidForbid criticism.criticism. Encourage idea “hitch-hiking.”Encourage idea “hitch-hiking.” Dare to imagine the unreasonable.Dare to imagine the unreasonable.
    56. 56. 1 - 56Further ReadingFurther Reading ZIKMUND, W.G., BABIN, B.J., CARR, J.C.AND GRIFFIN, M. (2010) BUSINESSRESEARCH METHODS, 8THEDN, SOUTH-WESTERN SAUNDERS, M., LEWIS, P. ANDTHORNHILL, A. (2012) RESEARCHMETHODS FOR BUSINESS STUDENTS, 6THEDN, PRENTICE HALL. SAUNDERS, M. AND LEWIS, P. (2012)DOING RESEARCH IN BUSINESS &MANAGEMENT, FT PRENTICE HALL.
    57. 57. 2 - 57How Creative Are You?How Creative Are You?ANSWERSANSWERSFortune 500Fortune 500 ScatteredScatteredShowersShowersTriumph of theTriumph of theSpiritSpiritGrace PeriodGrace PeriodRhodes ScholarRhodes Scholar I UnderstandI Understand Spring BreakSpring Break Media BiasMedia BiasTwo for OneTwo for OneStock SplitStock SplitBlue in the FaceBlue in the Face High IntensityHigh Intensity SpreadsheetSpreadsheetObjectionObjectionOverruledOverruledWeb LinksWeb Links Rolls RoyceRolls Royce Tomb ofTomb ofTutankhamenTutankhamen

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