Special for management student

1. Business Research Methods: An Introduction 1
Business Research Methods:
An Introduction

2. Business Research Methods: An Introduction 2
Learning Objectives
Upon completion of this chapter, you will be able to:
 Understand the difference between basic and applied research
 Define business research
 Understand the roadmap to learn business research methods
 Learn how business research methods can be used as a decision
making tool by the managers
 Understand the business research process
 Get a preliminary idea about the use of software for data
preparation and data analysis

3. Business Research Methods: An Introduction 3
Introduction
 Business researchers systematically collect, compile, analyze,
and interpret data to provide quality information based on
which a decision maker will be able to take a decision in an
optimum manner.
 Conducting research to deal with any problem is a scientific,
systematic, and interlinked exercise, which requires sound
experience and knowledge.

4. Business Research Methods: An Introduction 4
Difference Between Basic and
Applied Research
 Basic research is generally not related to a specific problem and
its findings cannot be immediately applied.
 Applied research directly addresses the problem at hand.
Applied research is launched by the firm, agency, or individual
facing a specific problem.

5. Business Research Methods: An Introduction 5
Defining Business Research
 Business research method is a systematic and scientific
procedure of data collection, compilation, analysis,
interpretation, and implication pertaining to any business
problem.
 Business research is defined as the systematic and objective
process of gathering, recording, and analyzing data for aid in
making business decisions (Zikmund, 2007).
 Cooper and Schindler (2009) define business research as a
systematic enquiry that provides information to guide
managerial decisions.

6. Business Research Methods: An Introduction 6
Roadmap to Learn Business
Research Methods

7. Business Research Methods: An Introduction 7
Business Research Methods:
A Decision Making Tool in the
Hands of Management
 Decision making is always a crucial part of any organizational
functioning.
 In the field of business research, this valuable information is
obtained using the following interrelated steps:
1. Problem or opportunity identification
2. Diagnosing the problem or opportunity
3. Executing business research to explore the solutions
4. Implement presented solutions
5. Evaluate the effectiveness of decision making

8. Business Research Methods: An Introduction 8
1. Problem or Opportunity Identification
 Any delay in problem identification and solution implementation;
and the opportunity identification and encashment may become
harmful to the organization.

9. Business Research Methods: An Introduction 9
2. Diagnosing the Problem or Opportunity
 Organizations present these problems or opportunity scenarios
to business researchers.
 Business researchers actually diagnose the problem or
opportunity.
 Diagnosing involves exploring the situation to have a better
insight about the situation.

10. Business Research Methods: An Introduction 10
 After the identification and diagnosis of the problem, business
researchers systematically conduct research to present a
solution.
3. Executing Business Research to
Explore the Solution

11. Business Research Methods: An Introduction 11
 Business researchers conduct research in consultation with the
decision makers of the concerned organization. The findings are
presented to the decision maker and he or she analyzes these
findings in the light of his or her decision range.
4. Implement Presented Solution

12. Business Research Methods: An Introduction 12
 After taking a decision, its effectiveness is examined. This is
sometimes referred to as evaluation research.
5. Evaluate the Effectiveness of
Decision Making

13. Business Research Methods: An Introduction 13
Use of Software in Data
Preparation and Analysis
 Nowadays, it is irrational to deal with data preparation and
analysis without the use of existing statistical software.
 This section focuses on introducing three widely used software
programs. They are MS Excel (2007), Minitab®, and SPSS (17).

14. Business Research Methods: An Introduction 14
Use of Software in Data
Preparation and Analysis
 ..Excel 2007.xlsx
 ..SPPS 17.sav
 ..Minitab 15.MPJ

15. Business Research Methods: An Introduction 15
Created by
Manasi k