brm notes

1. SYNOPTIC NOTES
ON BUSINESS RESEARCH
METHODS
FOR MMM/MFM
PROF. KAZI
nskazi@gmail.com
9820490844
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2. CONTENTS
Chapter No Description
1 INTRODUCTION
2 IDENTIFICATION OF RESEARCH PROBLEM
3 RESEARCH DESIGN
4 METHODS OF DATA COLLECTION
5 SOURCES OF DATA/INSTRUMENT OF DATA COLLECTION
6 SAMPLING METHODS
7 DATA ANALYSIS
8 QUALITATIVE/QUANTITATIVE DATA ANALYSIS
9 RESEARCH REPORT WRITING
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3. Chapter One – INTRODUCTION
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4. CONTENTS
(A) MEANING/DEFINITION OF RESEARCH
(B) OBJECTIVES OF RESEARCH
(C) CHARACTERISTICS OF RESEARCH
(D) NEED/APPLICATION OF RESEARCH
(E) TYPES OF RESEARCH
(F) ESSENTIALS OF GOOD RESEARCH
(G) PROBLEMS IN RESEARCH
(H) RESEARCH ORGANISATION
(I) RESEARCH PROPOSAL
(J) STEPS INVOLVED IN RESEARCH
(K) SCOPE OF RESEARCH
(L) QUESTIONS 4

5. (A) MEANING/DEFINITION OF RESEARCH
 Re + Search
 “ a systematic, unbiased and complete investigation into any
problem.”
 According to Fred Kerlinger “Research is an organised
enquiry designed and carried out to provide information for
solving a problem.”
 According to Robert Ross “Research is essentially an
investigation ,a recording and analysis of evidence for the
purpose of gaining knowledge.”
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6. (A) MEANING/DEFINITION OF RESEARCH
 Research involves:
Assessing information needs
Providing information.
Making decision.
 Research includes:
Problem identification research
Problem solving research
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7. (A) MEANING/DEFINITION OF RESEARCH
 Research should be conducted when:
There is some problem exist between current situation and
ideal
situation.
Cost of doing research is less than cost of wrong decision.
Time taken is not too long.
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8. (B) OBJECTIVES OF RESEARCH
Objectives are the goals of research. Objectives should be well
defined so that there is no confusion as to what is to be
achieved. Objectives should be:
 SMART
 Specific
 Measurable
 Achievable
 Realistic
 Time bound
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9. (B) OBJECTIVES OF RESEARCH
The various objectives of research are:
 Find solution to a problem
 Verify existing laws
 Obtain information
 Extend existing knowledge
 Forecasting demand ,sales , future
 Analyse inter -relationship between different variables
 Develop tools and theories
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10. (C) CHARATERISTICS OF RESEARCH
 Systematic
 Scientific method
 Based on observable experience
 Wider scope
 Continuous process
 Goal oriented
 Based on data collection
 Multi-purpose
 Empirical
 Critical
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11. (D) NEED/APPLICATION OF RESEARCH
 Solving business problems
 Provide information for business decisions.
 Predicting future
 Develop theories/principles
 Establish laws
 Financial analysis
 Marketing decisions
 Product research
 Price research
 Promotion research
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12. (D) NEED/APPLICATION OF RESEARCH
 Place research
 Sales research
 Distribution research
 Advertising research
 Packaging research
 Consumer behaviour
 Motivational research
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13. (D) NEED/APPLICATION OF RESEARCH
 Operation research
 Human resource management
 Project research ( Project feasibility/project appraisal)
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14. (E) TYPES OF RESEARCH
The different types of research are:
 Basic research
 Applied research
 Exploratory research
 Descriptive research
 Casual research
 Experimental research
 Quantitative research
 Qualitative research
 Empirical research
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15. (E) TYPES OF RESEARCH
Characteristics of exploratory research, descriptive research and casual research can be
seen as below:
Description Exploratory Descriptive Casual
Amount of uncertainty Highly ambiguous Partially defined Clearly defined
Key research statement Research question Research question Research hypothesis
When conducted Early stage later stage later stage of decision
Research approach Unstructured Structured highly structured
Nature of results Tentative Confirmatory Fairly conclusive
Example Our sales are What type of Which advertising
declining for customers will be more
no apparent patronise our effective.
reason. Store.
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16. (F) ESSENTIALS OF GOOD RESEARCH
The essentials of good research are:
 Clearly defined purpose/objectives
 Outline research process
 Plan research design
 Analyse data
 Systematic presentation of data
 Justify conclusion
 Highlight limitations
 Maintain ethical standard.
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17. (G) PROBLEMS IN RESEARCH
The various problems in research are:
 Expensive
 Time consuming
 Problem of objectivity (Biasness)
 Problem of accuracy
 Problem of uniformity
 Sampling and non sampling errors
 Problem of verification
 Problem of respondents
 Lack of trained manpower
 Lack of coordination between research orgnization and business
organisation. 17

18. (H) RESEARCH ORGANISATION
The various position and job profile in research organisation
can be seen as below:
(1) Head of the organisation/CEO/President/Director:
The top executive of the organisation.
Responsible for entire research operations.
His function includes planning, goal setting , project
development ,resource mobilisation , project execution
,budgeting
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19. (H) RESEARCH ORGANISATION
(2) Deputy Director:
He looks after the total administration of the organisation,
assist top executive, control some research project execution.
(3) Project Manager:
He is responsible for the design, implementation and
management, execution of all research projects of the
organisation.
(4) Senior Statistician/Data processing Manager:
He looks after all statistical work which include data editing,
processing, analysis, model building, testing of hypothesis in
the organisation. 19

20. (H) RESEARCH ORGANISATION
(5) Senior Analyst:
He is responsible for the development and execution of the projects. He
prepares final project report. He is responsible for meeting time and cost.
(6) Analyst/Junior Analyst:
He is responsible for the preparation of all basic statistical work including
preparing research design , pretesting of questionnaire,
Data coding ,tabulation, statistical analysis.
(7) Head Field Operations:
He is responsible for all the field operations including selection, training,
supervision, evaluation of field investigators.
(8) Operational Supervisor:
He supervises field operations, data editing, questionnaire completion, data
editing and analysis.
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21. (I) RESEARCH PROPOSAL
The contents of Market Research Proposal:
 Executive Summary:( summary of the major points from each
section of the proposal)
 Background: (The proposal background and the current
environmental context.)
 Problem/Objectives: ( the research problem being taken up
and the objectives and its components)
 Approach to the problem:( the existing review of literature
,research analytical model, research questions, research
hypothesis.)
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22. (I) RESEARCH PROPOSAL
 Research Design:( type of research ,kind of data/information
.sampling methods, questionnaire, scaling techniques,
methods of administering questionnaire )
 Field Work:(how data will be collected , who will collect ,the
control mechanism)
 Data Analysis:( Types of data analysis and statistical tools
used)
 Report: (first draft report ,final report presentation)
 Budget/Time frame( total cost of the proposal with cost break
up like manpower, field operations , overheads ,margin and
time duration phase wise) 22

23. (J) STEPS INVOLVED IN RESEARCH PROCESS
The steps involved in research process are:
STEPS DESCRIPTION DETAILS
One Formulating Research Problem : Formulating research problem
Review of literature
Deciding objectives
Identifying variables
Formulating hypothesis
Two Deciding Research Design: Type of research design
Quantitative/qualitative research
Three Constructing instruments Sources of data
of data collection: Methods of data collection
Preparation of questionnaire
Measurement and scaling
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24. (J) STEPS INVOLVED IN RESEARCH PROCESS
STEPS DESCRIPTION DETAILS
Four Sample selection Methods of sampling
sample size
Five Data collection Training of investigators
Data collection
Six Data Analysis Data editing
Coding
Classification
Tabulation
Data analysis.
Seven Report Preparation Type of report
Contents of report.
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25. (K) SCOPE OF RESEARCH
Business research is a systematic and objective procedure for
providing information for help in making business decisions. The
scope of business research include:
1 Production management: Research help in….
 Product development
 Product diversification
 Introducing new product
 Product improvement
 Process technologies
 Site selection
 New investment
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26. (K) SCOPE OF RESEARCH
2 - Personnel Management: Research works well for
 Job redesign
 Organisation restructuring
 Developing motivational strategies
 Organisational development
 Recruitment and selection of employees
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27. (K) SCOPE OF RESEARCH

3 - Marketing Management: Research is useful in ….
 Selection of market
 Studying consumer behaviour
 Pricing policies
 Selection of distribution channels
 Promotion strategies
 Advertising strategies
 Market segmentation/targeting/positioning
 Product cycles
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28. (K) SCOPE OF RESEARCH
4 - Financial Management: Research can be useful for
 Portfolio management
 Capital raising
 Distribution of dividend
 Hedging
 Exchange rate fluctuation
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29. (K) SCOPE OF RESEARCH
5 - Materials Management: Research is utilised in choosing
 The right supplier
 Make or buy decisions
 Selecting negotiation strategies
6 - General Management: Research contributes greatly in
 Determining the objectives/goals
 Developing the standards
 Deciding growth strategies
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30. (L) QUESTIONS
 1 - Define research and describe the objectives of research.
 2 - Describe the characteristics of research.
 3 - Explain the need and importance of research.
 4 - Describe different types of research.
 5 - What are the essentials of a good research?
 6 - Describe the problems faced in research.
 7 - Prepare a suitable research proposal to be submitted to a
company.
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31. (L) QUESTIONS
8 - Describe the structure of a research organisation.
9 - Explain the steps involved in conducting research.
10 - Describe the scope of research.
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