This document provides an introduction to business research methods. It discusses the scope of business research, the differences between basic and applied research, and the role of research in business decision making. It also covers factors that affect research, the impact of globalization, and how the internet is used for both primary and secondary research. The key stages in the decision making process are identified as problem identification, selection, resolution, and implementation.

1. Chapter -1
Introduction
to
Business Research Methods
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2. Objectives
• Scope of business research
• Basic research and applied research
• Role of business research in decision-
making
• Factors affecting business research
• Globalization and business research
• Business research and the internet
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3. Introduction
Business research can be defined as
a systematic and objective process of
gathering, recording, and analyzing
data that provides information to
guide business decisions. It is used
either to understand the market
trends, or find the optimal marketing
mix, devise effective HR policies or
find the best investment options.
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4. Scope of business research
• Business research is used to solve
the various operational and
planning problems that arise in a
business organization.
• The three major forms of business
research are
1)Market research
2)Operations research
3)Motivational research
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5. Basic research and Applied
research
• Business research studies can be
classified into two categories.
1.Basic research
2.Applied research
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6. Basic Research
• Basic research refers to a focused,
systematic study or investigation
undertaken to discover new knowledge or
interpretations and establish facts or
principles in a particular field.
Examples
• Understanding the consumer buying
process.
• Examining the consumer learning process.
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7. Applied research
• This refers to investigation
undertaken to discover the
applications and uses of theories,
knowledge, and principles in actual
work or in solving problems.
Examples
• Evaluating the impact of a training
program on employee performance
• Examining consumer response to
direct marketing programs.
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8. Steps in the Decision-Making Process
Problem/Opportunity Identification
Problem/Opportunity Selection
•Prioritize problems or opportunities
•Select major problem/opportunities
Problem/Opportunity Resolution
•Develop alternative course of action
•Choose the best course of action
Implement the Course of Action
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9. Role of Business Research in
Decision-Making
The business decision making
process in an organization goes
through these key interrelated
stages. They are:
• Problem/opportunity identification
• Problem/opportunity prioritization
and selection
• Problem/opportunity resolution
• Implementing the course of action
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10. Factors Affecting Business
Research
Conducting business research also involves
cost, time and effort. The major factors
are:
• Time constraint
• Availability of resources
• Availability of data
• Nature of information sought
• Benefits versus cost
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11. Globalization and Business
Research
• Companies are increasingly looking
out for international markets due to
various compelling reasons.
• Some of the issues that an
organization needs to consider
before venturing into international
business research are:
contd…
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12. Contd….
• Global business research efforts need to
be more closely associated with market
growth opportunities outside the
industrialized nations.
• International business researchers need to
devise new creative approaches to
understand the international markets.
• Researchers should make use of
technological advances in order to
undertake international business activities
effectively. 12

13. Business Research and
Internet
• Use of the internet in business research
studies is increasing. The declining costs of
conducting online research activities
coupled with increasing number of internet
users, has made the internet a cost
effective alternative to traditional research
methods for business research
organizations. The role of the internet in
primary and secondary research is as
follows:
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14. Primary Research
• Primary data is collected directly
from respondents using data
collection methods like survey
interviews, questionnaires,
measurements, direct observation,
or tabulation. There are various
advantages in conducting online
surveys compared to traditional
survey methods. These include:
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15. • The responses and feedback can be
obtained faster.
• Costs for conducting online surveys
are less compared to traditional
survey methods.
• Questionnaires can be delivered to the
respondents faster.
• Confidentiality is maintained as only
the recipients read the questionnaire.
• Respondents can reply to the
questionnaire at their convenience.
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16. Secondary Research
Secondary data already exists which
has been collected by some other
person or organization for their use,
and is generally made available to the
other researchers free or at a
concessional rate. Major use of the
internet in business research is in the
area of secondary research. The
research reports and the data bases
maintained by major research
companies are also available on the
net.
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17. Thanks for your attention!
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