BUSINESS RESEARCH METHODS

1. CHAPTER-1
INTRODUCTION
SOURCE:
TEXT BOOK: ZIKMUND, W.G., BABIN,B.J.,
CARR,J.C., GRIFFIN,M., (2021) ,BUSINESS
RESEARCH METHODS, 9TH EDITION,
CENGAGE LEARNING

2. WHAT IS RESEARCH???

3. 1–3
BUSINESS RESEARCH
 Business research is the application of the scientific method
in searching for the truth about business phenomena.
 The process includes:
• idea and theory development
• problem definition
• searching for and collecting information
• analyzing data
• communicating the findings and their implications

4.  For effective decision making
 To understand frequently changing business environment
 To explore new markets and opportunities
 To explore the concepts
 To identify problem areas in the existing framework ,to
investigate causes and based on that to generate solutions to
the identified problems
WHY IS RESEARCH
NEEDED/IMPORTANCE

5.  The purpose of research is to discover answers to
questions through the application of scientific
procedures.
 Research objectives
The goals to be achieved by conducting research
OBJECTIVE OF RESEARCH

6. TYPES OF RESEARCH
BUSINESS RESEARCH
CONCLUSIVE RESEARCH
DESCRIPTIVE RESEARCH
APPLIED RESEARCH
BASIC RESEARCH
EXPLORATORY
RESEARCH
CAUSAL RESEARCH

7. 1–7
APPLIED AND BASIC BUSINESS
RESEARCH
 Applied business research
 conducted to address a specific business decision for a specific firm
or organization.
 Example:
 Should McDonald’s add Italian pasta dinners to its menu?
 Which health insurance plan should a business provide for its employees?

8. 1–8
APPLIED AND BASIC BUSINESS
RESEARCH
 Basic business research (also called pure research)
• conducted without a specific decision in mind that usually does not
address the needs of a specific organization.
 Attempts to expand the limits of knowledge in general.
 Not aimed at solving a pragmatic problem.
• Example:
 Do consumers experience cognitive dissonance in low-involvement
situations?
 Does employee tenure with a company influence productivity?

9. 4–9
STAGES IN THE RESEARCH PROCESS
 Process stages:
1. Defining the research objectives
2. Planning a research design
3. Planning a sample
4. Collecting the data
5. Analyzing the data
6. Formulating the conclusions and preparing the report

10. ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part.
EXHIBIT 4.5 STAGES OF THE RESEARCH PROCESS
4–10

11. ©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part.
EXHIBIT 4.6 FLOWCHART OF THE
BUSINESS RESEARCH PROCESS
4–11

12. 1–12
MANAGERIAL VALUE OF BUSINESS
RESEARCH
 The decision-making process associated with the
development and implementation of a business
strategy involves four interrelated stages:
1. Identifying problems and opportunities
2. Diagnosing and assessing problems or opportunities
3. Selecting and implementing a course of action
4. Evaluating the course of action

13. RESEARCH APPLICATIONS IN MARKETING
 Market & consumer analysis
 Product research
 Pricing research
 Promotional research
 Place research

14. RESEARCH APPLICATIONS IN FINANCE
 Asset pricing, capital markets and corporate finance
 Financial derivatives and credit risk modeling research
 Market-based accounting research
 Auditing and accountability
 Other areas: financial forecasting, behavioural finance, volatility
analysis

15. RESEARCH APPLICATIONS IN
HUMAN RESOURCES
 Training & development studies
 Selection and staffing studies
 Performance appraisal–design and evaluation
 Organization planning and development
 Incentive and benefits studies
 Emerging areas–critical factor analysis, employer branding
studies

16. RESEARCH APPLICATIONS IN
PRODUCTION & OPERATIONS MANAGEMENT
 Operation planning and design
 Demand forecasting and demand estimation
 Process planning
 Project management and maintenance effectiveness studies
 Logistics and supply chain-design and evaluation
 Quality estimations and assurance studies