The Business Research Method

12,619 views

Published on

The Business Research Method

  1. 1. Research is defined as human activity based on intellectual application in the investigation of matter.INTRODUCTION TO BUSINESS RESEARCH
  2. 2. Research is an exploration process… WHAT IS BUSINESS RESEARCH?  Business Research is a systematic process of inquiry that provides information to guide business decisions.
  3. 3. WHY STUDY BUSINESS RESEARCH METHODS? New Research Information Technological Perspectives Overload Connectivity Computing Shifting Power & Global Speed Economics Factors Battle for Critical Analytical Scrutiny of Talent Business Government Intervention
  4. 4. PURPOSE OF RESEARCH Reduce the level of risk of a business decision.
  5. 5. TYPES OF RESEARCHQualitative research Quantitative research The aim is a complete, detailed  The aim is to classify features, description. count them, and construct models in an attempt to explain what is observed. Researcher may only know roughly  Researcher knows clearly in in advance what he/she is looking advance what he/she is looking for. for.  Data is in the form of numbers and Data is in the form of words, statistics. pictures or objects.  Quantitative data is more efficient, Qualitative data is more rich, time consuming, and less able to be able to test hypotheses, but may generalized. miss contextual detail.
  6. 6. FOUR TYPES OF STUDIES Provides a summation Seeks to depict whatof data…often to achieve a already exists in a group or deeper understanding population…answers theor to generate comparative who, what, when, statistics where, how Reporting Descriptive Explanatory Predictive Attempts to evaluate A study that investigates specific courses of action the connection between or to forecast current two or more variables. and future values
  7. 7. Provides a summation of data… Answers the who, what, when,•Skilled Player Salaries in the NFL where, how•Marketing of Online Programs •Who are Burger King Customers?•Health & Exercise •Generation Y Savings•College Recruiting •Smokefree Workplace Policies•Obesity in Children •Online Shopping Preferences•International Student Spending •Green Consumers Reporting Descriptive Explanatory PredictiveInvestigates a connection Evaluate specific courses•Bottled vs. Draft Beers of action•Alcohol vs. Freshman 15 •Classroom Assessments•Bad Economy vs. Increased Drinking •Customer Service•Does Social Networking Affect the •MBA Recruiting Way We Work? •Cramming Doesn’t Pay!•Impact of Economy on Vacation (or does it?) Spending
  8. 8. Business Research is a systematic process of inquiry… THE RESEARCH PROCESS I. Research Planning (Exploration) Planning  Develop an investigative question  Develop a concise statement of your position Reporting Data Analysis
  9. 9. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation  Using the research question(s), determine what data is needed  Collect the data Reporting Data  Provide appropriate summaries of the data  Who did you talk to? Analysis  What did they say?
  10. 10. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation  Establish the significance of the research statements Reporting Data  How does the significance (or lack thereof) impact the overall hypothesis? Analysis
  11. 11. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation IV. Reporting  Communicate the results of your Reporting Data findings Analysis
  12. 12. Rising costs, Declining sales,I. RESEARCH PLANNING (EXPLORATION) Increased health concerns, Decreased productivity, Decreasing job security,What is the problem or opportunity? technological changes, etc. …where do ideas come from?
  13. 13. Rising costs, Declining sales, Increased complaints,WHERE DO IDEAS COME FROM? Decreased productivity, Decreasing job security, technological changes, Publications Web-based etc. Conversations News-based News Outlets Scholarly Take time to understand what the status quo is regarding that particular topic… What is the impact of each source? Need to illustrate the topic’s relevance
  14. 14. Rising costs, Declining sales, Increased complaints,I. RESEARCH PLANNING (EXPLORATION) Decreased productivity, Decreasing job security, technological changes,What is the problem or opportunity? etc. …where do ideas come from? Restate as a question WHY? WHAT IS THE IMPACT OF…? WHAT SHOULD BE DONE IF…? HOW CAN WE …? Take time to understand what the status quo is regarding that particular topic…
  15. 15. WHERE DO IDEAS COME FROM? Publications Web-based Conversations News-based News Outlets Scholarly This means you will need to perform a review of available literature in search of studies relating to your topic. What have others found to be true?
  16. 16. I. RESEARCH PLANNING (EXPLORATION)What is the problem or opportunity? …where do ideas come from? Restate as a question Use the information and facts gathered to develop your… research question How do I answer the research question? Important factors
  17. 17. WHERE DO IDEAS COME FROM? Publications Web-based Conversations News-based News Outlets Scholarly This means you will need to perform a review of available literature in search of studies relating to your topic. What demographic and behavioral factors are relevant your topic? Have similar studies been done?
  18. 18. A hypothesis is a specific, testable prediction aboutI. RESEARCH PLANNING (E ) XPLORATION you expect to what happen in your study.What is the problem or opportunity? …where do ideas come from? Restate as a question Use the information and facts gathered to develop your… research question How do I answer the research question? Important factors The end of the planning phase is a formal statement of the research hypothesis
  19. 19. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation  Using the research question(s), determine what data is needed Reporting Data Analysis
  20. 20. II. DATA COLLECTION & PREPARATION What is data?Data is set of related raw facts or observations Individuals are the objects described by a set of data Variables are the characteristics of those individuals EXAMPLE: In the Census, the individuals are US Citizens, the variables are age, race, address, gender, etc.
  21. 21. II. DATA COLLECTION & PREPARATION What is data? What kind of data is there?Quantitative vs. Qualitative dataNumeric vs. non-numeric categorical
  22. 22. II. DATA COLLECTION & PREPARATION  Qualitative or Categorical Variables Ordinal vs. Nominal variables Ordered vs. non-orderedTeacher evaluations, Yes or No,Doneness of meat Male or Female  Characteristics of nominal scale plus an indication of order  Implies statement of greater than and less than
  23. 23. II. DATA COLLECTION & PREPARATION  Qualitative or Categorical Variables  Quantitative or Numerical Variables Discrete vs. Continuous variables Finite vs. infinite possibilitiesArise from a counting Arise from a measurementprocess: process:# of cars, # of children Height, weight, salary
  24. 24. II. DATA COLLECTION & PREPARATION Qualitative or Categorical Variables Quantitative or Numerical VariablesDiscrete vs. Continuous variablesTime Series vs. Cross Sectional variablesOne variable collected at Many variables collected at onemany times time(evenly spaced intervals)
  25. 25. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation  Using the research question(s), determine what data is needed  Collect the data Reporting Data Analysis
  26. 26. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation  Using the research question(s), determine what data is needed  Collect the data Reporting Data  Provide appropriate summaries of the data  Who did you talk to? Analysis  What did they say?
  27. 27. II. DATA COLLECTION & PREPARATION What data is needed? What kind of data is there? What methods are there for collecting data? How do we determine who to get measurements from? What do we do with the data?
  28. 28. II. DATA COLLECTION & PREPARATION What data is needed? What kind of data is there? What methods are there for collecting data? How do we determine who to get measurements from? What do we do with the data?Statistics is the process of learning from the data (statistics affects the way we collect, organize, and interpret data)
  29. 29. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation  Establish the significance of the research statements Reporting Data  How does the significance (or lack thereof) impact the overall hypothesis? Analysis
  30. 30. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation IV. Reporting  Communicate the results of your Reporting Data findings Analysis
  31. 31. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation  Establish the significance of the research statements Reporting Data  How does the significance (or lack thereof) impact the overall hypothesis? Analysis
  32. 32. III. ANALYSIS & INTERPRETATION Use hypothesis testing to examine the significance of each hypothesis statement  One-sample  Two-sample  More-than-two sample  Relationship analysis
  33. 33. III. ANALYSIS & INTERPRETATION Use hypothesis testing to examine the significance of each hypothesis statement  Does group A study more than ___ hours per day?  Does this type of employee earn more than ___ dollars per year?  Is there really more than ___% of women who feel that way?  Is the average salary of group A really different from group B?  Is there really a higher percentage of teens than senior citizens who exhibit that behavior?  Does ________ have a significant impact on ___?
  34. 34. III. ANALYSIS & INTERPRETATION Establish the significance of each hypothesis statement How does the significance (or lack thereof) impact the overall research hypothesis?
  35. 35. THE RESEARCH PROCESS I. Research Planning (Exploration) Planning II. Data Collection & Preparation III. Analysis & Interpretation IV. Reporting  Communicate the results of your Reporting Data findings Analysis
  36. 36. THE RESEARCH REPORT OVERVIEW Problem’s background Summary of exploratory findings Research design and procedures Conclusions
  37. 37. 4-39RESEARCH PROCESS PROBLEMS TO AVOID Ill-defined management Problem’s background problem Summary of exploratory findings Un-researchable questions Research design and procedures Conclusions
  38. 38. CHARACTERISTICS OF GOOD RESEARCH Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed Adequate analysis Unambiguous presentation Conclusions justified Credentials

×