Introduction to research

1. BUSINESS RESEARCH
METHODS
Kokab Manzoor
kokabmanzoor2012@gmail.com
Youtube.com/kokabmanzoor

2. SCOPE OF SUBJECT
• Identify Problem Area
• Conduct Interviews
• Do Library Research
• Develop Theoretical
Framework
• Formulate Hypotheses
• Make Research Design
Decisions
• Collect Data
• Analyze And Interpret Data
• Discuss Findings And
Implications
• Difference In Good & Bad
Research

3. Recommended Books
Research Methods for business, A skill building
approach, by Uma Sekeran
Business Research Methods by Zikmund
Research methodology, Methods &
Techniques, by C.R Kothari

4. What is Research?
Literally, research(re-search) means “to search again.
Research is, thus, an original contribution to the existing stock
of knowledge making for its advancement.
The search for knowledge through objective and systematic
method of finding solution to a problem is research.

5. ```
“Research is organized and systematic inquiry
or investigation which provides information for
solving a problem or finding answers to a
complex issue”.
Definition

6. What is Business Research?
•Business Research can be described as a
systematic and organized effort to investigate a
specific problem encountered in the work setting
that needs a solution.
•It comprises a series of steps designed and
executed, with the goal of finding answers to the
issues that are of concern to the manager in the
work environment.

7. Importance of Research
•Definition makes it clear that business research is designed
to facilitate the managerial decision-making process for all
aspects of the business: finance, marketing, human
resources, and so on.
•Business research is an essential tool for management in
virtually all problem-solving and decision-making activities.
•By providing the necessary information on which to base
business decisions, research can decrease the risk of making
a wrong decision in each area

8. Business Problems for which Research Needed
In Business:
In Sales/Marketing:
In Finance/Accounting:
In Organizational Behavior:
In Human Resource Management:
Market Trends and Demands:
Competition

9. Types of Business Research
There are two types of business research:
Basic research
and
Applied research

10. Types of Business Research:
Applied Research
• Applied business research is conducted to address a specific
business decision for a specific firm or organization
• It is conducted when a decision must be made about a
specific real-life problem.
• Applied Research is undertaken to solve existing problems.

11. Examples of Applied Research
• Should McDonalds add KFC add more localized food items
to its menu?
• Employee performance in Mobilink Company is not good
from the last one year.
• Sales of Ufone Company is going down day by day .
• Should Procter & Gamble add a high-priced home teeth
bleaching kit to its product line?

12. Types of Business Research:
Basic Research
• Basic business research(sometimes referred to as pure research)
is conducted without a specific decision in mind, and it usually
does not address the needs of a specific organization.
• It attempts to expand the limits of knowledge in general, and as
such it is not aimed at solving a particular pragmatic problem.

13. Examples of Basic Research
•How can managers best encourage workers to dedicate
themselves toward the organization’s goal
•Is executive success correlated with high need for
achievement?
•Are members of highly cohesive work groups more
satisfied than members of less cohesive work groups?
•Is performance only the result of motivation.

14. Role of Research in Decision Making
• Decision-making is the process of selecting the best alternative from the
available set of alternatives.
• Good decision making need a “yes” to the following questions:
• Do Manager identify where exactly the problem lies?
• Do they correctly recognize the relevant factors to be investigated?
• Do they know what type of information are to be gathered and how?
• Do they know how to use those information to reach on a conclusion and
to make decision?
• Do they know how to implement the result?

15. • Management is chiefly concerned with all above decision-
making and its implementation.
• These decisions should be based on appropriate studies,
evaluations and observations.
• Research provides us with knowledge and skills needed to
solve the problems and to meet the challenges of a fast paced
decision-making environment.
• This is the essence of research and to be a successful manager
it is important to know how to go about making the right
decision.
Role of Research in Decision Making

16. Research Approaches
There are two approaches to research:
1. Inductive Research Approach
2. Deductive Research Approach

17. Research Approaches: Deductive Approach
The logical process of deriving a conclusion from a
known premise or something known to be true. E.g.
• We know that all Lecturers in Abasyn are Pakistanis.
• If we also know that Dr. Waqar is Professor in Abasyn.
• Then we can deduce that Dr. Waqar is also a Pakistani.

18. Deductive Approach

19. Research Approaches: Inductive Approach
The logical process of establishing a general
proposition on the basis of observation of particular
facts. E.g.
• All managers that have ever been seen are human
beings;
• Therefore, all managers are human beings.

20. Inductive Approach

21. Research Approaches: Inductive Approach
My friend borrowed $100 last June but he did not
pay back until September as he had promised. Then
he assured me that he will pay back until Christmas
but he didn’t. He also failed in to keep his promise
to pay back in March. I reckon I have to face the
facts. My friend is never going to pay me back.

22. Hallmarks of Research
1. Purposiveness
2. Rigor
3. Testability
4. Replicability
5. Precision and Confidence
6. Objectivity
7. Generalizability
8. Parsimony

23. Hallmarks (Attributes) of Research
The main distinguishing characteristics of research can be listed as follows:
1. Purposiveness:
There must be a specific purpose of study or research. E.g.
Investigating employees commitment to the organization.
2. Rigor:
A good theoretical base and a sound methodological design would add
rigor to a purposive study. Rigor connotes carefulness, scrupulousness, and
the degree of exactitude in research investigations. E.g. Sampling Errors,
Questionnaires
Hallmarks of Research

24. Hallmarks (Attributes) of Research…
3. Testability:
Hypothesis developed for study can be tested by applying
certain statistical tests to the data collected for the study.
E.g. Correlation coefficient etc.
4. Replicability:
The results of the tests of hypothesis should be supported
again and yet again when the same type of research is
repeated in other similar circumstances
Hallmarks of Research

25. Hallmarks (Attributes) of Research…
5. Precision and Confidence :
5.1. Precision: Refers to the closeness of the findings to “reality”
based on a sample, or the degree of accuracy or exactitude of the
results on the basis of the sample. Precision is usually calculated
and discussed in terms of standard deviations and coefficient of
variation (CV).
5.2. Confidence: Confidence refers to the probability that our
estimations are correct that is to claim confidently that 95% of the
time our results would be true and there is only 5% chance of our
being not true(confidence interval).
Hallmarks of Research

26. Hallmarks (Attributes)of Research…
6. Objectivity:
The conclusion drawn through the interpretation of the
results of data analysis should be objective, that is, they
should be based on the facts of the findings derived from
the actual data and not on our own subjective or
emotional values.
Hallmarks of Research

27. Hallmarks (Attributes) of Research…
7. Generalizability: It refers to the scope of applicability of the
research findings in one organizational setting to other settings.
The more generalizable the research, the greater its usefulness
and value.
8. Parsimony: Economy in research models is achieved when we
can build into our research framework a lesser number of
variables that would explain the variance more efficiently than a
complex set of variables .
Hallmarks of Research