What is Business Research? Talking about Its Objectives, Characteristics, Criteria of Good Research, Types, When to conduct and an overview of research methodology....

1. PRESENTED BY-
UMA SHAHI
Business research

2. BUSINESS RESEARCH
Business research is defined as the
systematic and objective process of
generating information for aid in making
business decisions.

3. BUSINESS RESEARCH
 Research information is neither intuitive
nor haphazardly gathered.
 Literally, research(re-search)-search
again.
 Business research must be objective.
 Detached and impersonal rather than
biased.
 It facilitates the managerial decision
process for all aspects of a business.

4. OBJECTIVES OF BRM
 The purpose of research is to discover
answers through the application of
scientific procedures.
 The objectives are:
1. To gain familiarity with a phenomenon or
to achieve new insights into it-
Exploratory or Formulative Research.
2. To potray accurately the characteristics of
a particular individual, situation or a
group- Descriptive Research.

5. CONT....
3. To determine the frequency with which
something occurs or with which it is
associated with something else-
Diagnostic Research.
4. To test a hypothesis of a causal
relationship between variables-
Hypothesis- Testing Research.

6. CHARACTERISTICS OF
RESEARCH
1) Research is directed towards the solution
of a problem.
2) Research is based upon observable
experience or empirical evidence.
3) Research demands accurate observation
and description.
4) Research involves gathering new data
from primary sources or using existing
data for a new purpose.
5) Research activities are categorized by
carefully designed procedures.

7. Cont....
6) Research requires expertise i.e., skill
necessary to carry out investigation,
search the related literature and to
understand and analyze the data
gathered.
7) Research is objective and logical-
applying every possible test to validate
the data collected and conclusions
reached.
8) Research involves the quest for answers
to unsolved problems.

8. Cont....
9) Research requires courage.
10)Research is characterized by patient and
unhurried activity.
11)Research is carefully recorded and
reported.

9. CRITERIA OF A GOOD
RESEARCH
 Purpose clearly defined.
 Research process detailed.
 Research design thoroughly planned.
 High ethical standards applied.
 Limitations frankly revealed.
 Adequate analysis for decision maker’s
needs.
 Findings presented unambiguously.
 Conclusions justified.
 Researcher’s experience reflected.

10. QUALITIES OF A GOOD
RESEARCH
 Systematic
 Logical
 Empirical
 Replicable
 Creative
 Use of multiple methods.

11. BUSINESS RESEARCH TYPES
 Basic Research-Attempts to expand the
limits of knowledge.
Not directly involved in the solution to a
pragmatic problem.
 Applied Research- Conducted when a
decision must be made about a specific real-
life problem.
 Scientific Method- The analysis and
interpretation of empirical evidence(facts from
observation or experimentation)to confirm or
disprove prior conceptions.

12. Cont....
 Evaluation Research- Evaluation
research is the formal, objective
measurement and appraisal of the extent
to which a given activity, project, or
program has achieved its objectives.
 Performance monitoring Research-
Research that regularly provides feedback
for evaluation and control.
Indicates things are or are not going as
planned.
Research may be required to explain why
something “went wrong”.

13. Cont....
 Total Quantity Management(TQM)- A
business philosophy that embodies the belief
that the management process must focus on
integrating customer-driven quality throughout
the organization.
Stresses continuous improvement of product
quality and service.
Managers improve durability and enhance
features as the product ages.
Managers strive to improve delivery and other
services to keep their companies competitive.

14. WHEN TO CONDUCT BUSINESS
RESEARCH
No No No No
Y Y Y Y
Time
Constraints
Availability of
data
Nature of the
decision
Benefits
versus costs

15. OVERVIEW OF RESEARCH
METHODOLOGY
 Identification of problem.
 Reviewing previous literature.
 Formulation of hypothesis.
 Collection of data.
 Analysis of data and testing of hypothesis.
 Tabulation and interpretation of result.
 Derivation of results/Conclusions.
 Report writing.

16. THANK YOU