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Business Research Methods under Approach.pdf
- 1. Business Research Methods Dr.Garima Ranga
- 2. RULES OF THEGAME • Late entry in the session is not allowed. • Use of mobile phones is strictly prohibited. • Do carry laptops but use only when asked. • Read the suggested readings. Let us all learn together….
- 3. ContinuousassessmentBreak-up:(MinimumOneAssignmentPerCredit) Indicative–tobecompletedbythefacultymemberatthetimeofdevelopingtheSessionplan Type Description(indicative) Course Outcome Addressed(SL.No) Outof 50Marks ModuleCoverage /Modulenumber Quiz MultiplechoicequestionsCO1&CO2 10 Module1,2 Mid-term CO1,CO2 20 Module1,2and3 Project GroupProject 4 20 End-term 2 50 Module-1,2,3,and 4
- 4. Project • A groupof 4 members • Find out a real business problem • Choose qualitative or quantitative research method • Analyze the results • Present the findings.
- 5. Session Flow… Course overview Whatis Business Research Role of Business Research
- 6. Some commonly researchedareas in business • Employee behaviors such as performance, absenteeism, and turnover. • Employee attitudes such as job satisfaction, loyalty, and organizational commitment. • Consumer decision making. • Customer relationship management. • Consumer satisfaction, complaints, customer loyalty, and word-of-mouth communication. • Cost of capital, valuation of firms, dividend policies, and investment decisions. • Risk assessment, exchange rate fluctuations, and foreign investment. • Strategy formulation and implementation. • Just-in-time systems, continuous-improvement strategies, and production efficiencies
- 8. It’s hard tobelieve from such a large company, but when they launched their brand in Canada, they skipped market research and banked on name recognition to drive customer traffic. After buying the leases for a defunct discount chain in Canada in 2013, Target quickly turned the empty stores into new Target stores. The big store conglomerate spent millions on marketing on social media, radio, TV and billboards but never took the time to deep dive into the specific Canadian consumer segment. Customers in Canada knew the brand, but when they went into stores, they saw different products than what they’d seen in U.S. stores and prices were higher. It took less than two years for Target to close its Canadian stores and call the launch a failure.
- 9. Good decision-making fetchesYES answer to: • Do managers identify where exactly the problem lies? • Do they correctly recognize relevant factors in the situation needing investigation? • Do they know what type of information is needed to solve the problem?
- 10. Business Research The application ofthe scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating ideas, monitoring performance, and understanding the business process.
- 11. Types of research BasicResearch Applied research
- 12. Scientific Method • The wayresearchers go about using knowledge and evidence to reach objective conclusions about the real world.
- 13. Managerial Value ofBusiness Research • Product Oriented • Production Oriented • Marketing Oriented
- 14. Business Research Process IDENTIFYING PROBLEMSOR OPPORTUNITIES DIAGNOSING AND ASSESSING PROBLEMS OR OPPORTUNITIES SELECTING AND IMPLEMENTING A COURSE OF ACTION EVALUATING THE COURSE OF ACTION
- 15. When is BusinessResearch Needed..? Time constraints The availability of data The nature of decision to be made The value of research information relation to cost.
- 17. Data vs. Information •Data • Information
- 18. The Characteristics ofValuable Information • Relevance • Quality • Timeliness • Completeness
- 19. Find recent examplesof news articles involving the use of business research in making decisions about different aspects of business. Group Activity
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- 23. Session flow Ethics inResearch Theory Types of Research
- 24. Ethics and Business Research Ethicsin business research refers to a code of conduct or expected societal norm of behavior while conducting research. Ethical conduct applies to the organization and the members that sponsor the research, the researchers who undertake the research, and the respondents who provide them with the necessary data. Ethical behavior pervades each step of the research process – data collection, data analysis, reporting, and dissemination of information on the Internet, if such an activity is undertaken.
- 26. What is aTheory • Theory: A formal, logical explanation of some events that includes predictions of how things relate to one another. • Goals of Theory: Understand and Predict.
- 29. Terminology in ResearchContext Concept: generalized idea about a class of objects that has been given a name; an abstraction of reality that is the basic unit for theory development Ladder of Abstraction: Organization of concepts in sequence from the most concrete and individual to the most general.
- 30. Vegetation Fruit Banana Reality Increasingly more abstract A Ladder OfAbstraction For Concepts
- 31. Levels aof Reality •Abstract level (concepts & propositions): in theory development, the level of knowledge expressing a concept that exists only as an idea or a quality apart from an object. • Empirical level (variables & hypotheses): level of knowledge reflecting that which is verifiable by experience or observation
- 32. Concepts, Propositions, Hypothesis Proposition:Statements explaining the logical linkage among certain concepts by asserting a universal connection between concepts Hypothesis: Formal statement of an unproven proposition that is empirically testable
- 33. Variables, Deductive, andInductive Reasoning Variables: Anything that may assume different numerical values; the empirical assessment of a concept Deductive reasoning: The logical process of deriving a conclusion about a specific instance based on a known general premise or something known to be true. Inductive reasoning: The logical process of establishing a general proposition on the basis of observation of particular facts
- 35. Types of Research •Exploratory- Conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities • Descriptive- Describes characteristics of objects, people, groups, organizations, or environments; tries to “paint a picture” of a given situation. • Causal-Allows causal inferences to be made; seeks to identify cause and- effect relationships.
- 36. Characteristics of DifferentTypes of Business Research
- 37. In-class Exercise Each grouphas to read the given theory and present G1- Agency Theory G2- Resource Based View G3- Trait Theory G4- Pecking Order Theory G5-Prospect Theory G6- Social Exchange Theory G7- Theory of Planned Behavior G8- Theory of Constraints • G9- Brand Equity Theory • G10- CAPM Model • G 11-Contigency theory • G12- Construal level theory • G13- Toyota Production System • G14-Game Theory • G 15- Social network Theory