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Introduction to Business
Research Methodology
Adil Nawaz Khan
Department of Management
studies
UOM
What is Science?
• Science…
▫ a body of established knowledge
▫ the observation, identification, investigation, and
theoretical explanation of natural phenomenon
▫ Must be repeatable
usually the ultimate goal of science is theory
generation and verification
What is Theory?
• Theory…
▫ a set of inter-related constructs and propositions
that specify relations among variables to explain
and predict phenomena
▫ should be simple, consistent with observed
relationships, tentative and verifiable
Scientific Method
• Scientific Method…
▫ involves the principles and processes regarded as
characteristic of or necessary for scientific
investigation
▫ process or approach to generating valid and
trustworthy knowledge
Scientific Method
• Research…
▫ the application of the scientific method
▫ a systematic process of collecting and logically
analyzing information (data)
▫ Research is the process of finding solutions to a
problem after a thorough study and analysis of the
situational factors.
Research
The systematic method consisting of enunciating
the problem, formulating a hypothesis,
collecting the facts or data, analyzing the facts
and reaching certain conclusion either in the
form of solutions towards the concerned
problem or in certain generalizations for some
theoretical formulation.
Characteristics of Research
objective
precise
verifiable
parsimonious
empirical
logical
probabilistic
Types of ResearchBASIC RESEARCH
HISTORICAL RESEARCH
PHENOMENOLOGICAL
RESEARCH
CORRELATIONAL RESEARCH
ETHNOGRAPHIC RESEARC
APPLIED RESEARCH
EXPERIMENTAL RESEARCH
EXPLORATORY RESEARCH
DESCRIPTIVE RESEARCH
GROUNDED THEORY RESEARCH
QUALITATIVE RESEARCH
QUANTITATIVE RESEARCH
APPLIED RESEARCH
• Applied research refers to scientific study and
research that seeks to solve practical problems.
• Applied research is used to find solutions to
everyday problems, cure illness, and develop
innovative technologies, rather than to acquire
knowledge for knowledge's sake.
APPLIED RESEARCH
• For example, applied researchers may
investigate ways to:
• Improve agricultural crop production
• Treat or cure a specific disease
• Improve the energy efficiency of homes, offices,
or modes of transportation
BASIC RESEARCH
• Basic (aka fundamental or pure ) research is
driven by a scientist's curiosity or interest in a
scientific question.
• The main motivation is to expand man's
knowledge, not to create or invent something.
• There is no obvious commercial value to the
discoveries that result from basic research.
BASIC RESEARCH
• For example, basic science investigations probe
for answers to questions such as:
• How did the universe begin?
• What are protons, neutrons, and electrons
composed of?
• What is the specific genetic code of the fruit fly?
CORRELATIONAL RESEARCH
• Co relational research refers to the systematic
investigation or statistical study of relationships
among two or more variables, without
necessarily determining cause and effect.
• It Seeks to establish a
relation/association/correlation between two or
more variables that do not readily lend
themselves to experimental manipulation.
CORRELATIONAL RESEARCH
• For example, to test the hypothesis “ Listening to
music lowers blood pressure levels” there are 2
ways of conducting research
• Experimental – group samples and make one
group listen to music and then compare the BP
levels
• Survey – ask people how they feel ? How often
they listen? And then compare
CORRELATIONAL RESEARCH
Advantages: Disadvantages:
1) Can collect much information
from many subjects at one
time.
2) 2) Can study a wide range of
variables and their
interrelations.
3) 3) Study variables that are not
easily produced in the
laboratory.
• 1) Correlation does not
indicate causation( cause and
effect).
• 2) Problems with self-report
method .
DESCRIPTIVE RESEARCH
• Descriptive research refers to research that
provides an accurate portrayal of characteristics
of a particular individual, situation, or group.
• Descriptive research, also known as statistical
research. These studies are a means of
discovering new meaning, describing what
exists, determining the frequency with which
something occurs, and categorizing information.
DESCRIPTIVE RESEARCH
• In short descriptive research deals with
everything that can be counted and studied,
which has an impact of the lives of the people it
deals with.
For example,
• finding the most frequent disease that affects the
children of a town. The reader of the research
will know what to do to prevent that disease
thus, more people will live a healthy life.
DESCRIPTIVE RESEARCH
Advantages: Disadvantages
• The people individual studied
are unaware so they act
naturally or as they usually do
in everyday situation;
• It is less expensive and time
consuming than quantitative
experiments;
• Collects a large amount of notes
for detailed studying;
• As it is used to describe and not
make any conclusions it is to
start the research with it;
• Descriptive research requires
more skills.
• Does not identify cause behind
a phenomenon
• Response rate is low in this
research.
• Results of this research can
change over the period of time.
ETHNOGRAPHIC RESEARCH
• Ethnographic research refer to the investigation of a
culture through an in-depth study of the members of
the culture; it involves the systematic collection,
description, and analysis of data for development of
theories of cultural behaviour.
• • It studies people, ethnic groups and other ethnic
formations, their ethno genesis, composition,
resettlement, social welfare characteristics, as well
as their material and spiritual culture.
ETHNOGRAPHIC RESEARCH
• Data collection is often done through participant
observation, interviews, questionnaires, etc.
• The purpose of ethnographic research is to
attempt to understand what is happening
naturally in the setting and to interpret the data
gathered to see what implications could be
formed from the data.
EXPERIMENTAL RESEARCH
• Experimental research is an objective,
systematic, controlled investigation for the
purpose of predicting and controlling
phenomena and examining probability and
causality among selected variables.
Advantages
• Best establishes cause-and-effect
relationships
Disadvantages
• Artificiality
• Feasibility
• Unethical
EXPERIMENTAL RESEARCH
• The simplest experimental design includes two variables and
two groups of participants. The two variables(Independent
versus Dependent variables).
• The IV is the predictor variable whereas the DV is the outcome
variable.
• Researchers manipulate and control the IV to study it's effect
on the DV. The two groups of participants (Control versus
Experimental group).
• Before beginning the experiment, the researcher (randomly)
assigns his/her sample to two different groups: the control
group and the experimental (treatment group or clinical
group).
• The control group receives no manipulation of the IV (no
treatment), whereas the experimental group receives the
manipulation of the IV
EXPLORATORY RESEARCH
• Exploratory research is a type of research conducted
for a problem that has not been clearly defined.
• Exploratory research helps determine the best
research design, data collection method and
selection of subjects.
• The results of exploratory research are not usually
useful for decision-making by themselves, but they
can provide significant insight into a given situation
• Exploratory research is not typically generalizable to
the population at large.
EXPLORATORY RESEARCH
• Exploratory research can be quite informal,
relying on secondary research such as reviewing
available literature and/or data, or qualitative
approaches such as informal discussions with
consumers, employees, management or
competitors, and more formal approaches
through in-depth interviews, focus groups,
projective methods, case studies or pilot studies.
GROUNDED THEORY RESEARCH
• Grounded theory research is a research
approach designed to discover what problems
exist in a given social environment and how the
persons involved handle them; it involves
formulation, testing, and reformulation of
propositions until a theory is developed.
• Grounded theory is a research method that
operates almost in a reverse fashion from
traditional research and at first may appear to be
in contradiction to the scientific method.
GROUNDED THEORY RESEARCH
• Four stages:
1. Codes-Identifying anchors that allow the key
points of the data to be gathered
2. Concepts-Collections of codes of similar content
that allows the data to be grouped
3. Categories-Broad groups of similar concepts
that are used to generate a theory
4. Theory-A collection of explanations that explain
the subject of the research (hypotheses)
HISTORICAL RESEARCH
• Historical research is research involving analysis of
events that occurred in the remote or recent past
Application
• Historical research can show patterns that occurred
in the past and over time which can help us to see
where we came from and what kinds of solutions we
have used in the past.
• Understanding this can add perspective on how we
examine current events and educational practices.
The steps involved in the conduct of historical
research
HISTORICAL RESEARCH
Here are the five steps:
1. Identification of the research topic and
formulation of the research problem or
question.
2. Data collection or literature review
3. Evaluation of materials
4. Data synthesis
5. Report preparation or preparation of the
narrative exposition
HISTORICAL RESEARCH
Strengths Limitations
• Provides a comprehensive
picture of historical trends
• Uses existing information
• Provides evidence of on-going
trends and problems
Time-consuming
• Resources may be hard to
locate
• Resources may be conflicting
• May not identify cause of a
problem
• Information may be
incomplete, obsolete,
inconclusive, or inaccurate
• Data restricted to what already
exists
Historical research gives a social scientist a better context for making
realistic decisions.
PHENOMENLOGICAL RESEARCH
• Phenomenological research an inductive,
descriptive research approach developed from
phenomenological philosophy; its aim is to
describe an experience as it is actually lived by
the person
• Phenomenology is concerned with the study of
experience from the perspective of the
individual, ‘bracketing’ taken-forgranted
assumptions and usual ways of perceiving.
PHENOMENLOGICAL RESEARCH
• They are based in a paradigm of personal
knowledge and subjectivity, and emphasise the
importance of personal perspective and
interpretation.
• As such they are powerful for understanding
subjective experience, gaining insights into
people’s motivations and actions, and cutting
through the clutter of taken-for-granted
assumptions and conventional wisdom.
Qualitative research
• Qualitative research is research dealing with
phenomena that are difficult or impossible to
quantify mathematically, such as beliefs,
meanings, attributes, and symbols
• Qualitative researchers aim to gather an in-
depth understanding of human behaviour and
the reasons that govern such behaviour. The
qualitative method investigates the why and how
of decision making, not just what, where, when.
QUALITATIVE RESEARCH
Advantages Disadvantages
• It enables more complex aspects
of a persons experience to be
studied
• Fewer restriction or assumptions
are placed on the data to be
collected.
• Not everything can be quantified,
or quantified easily, Individuals
can be studied in more depth
• Good for exploratory research
and hypothesis generation
• The participants are able to
provide data in their own words
and in their own way
• It is more difficult to
determine the validity and
reliability of linguistic data
• there is more subjectivity
involved in analysing the data.
• “Data overload” – open-ended
questions can sometimes
create lots of data, which can
take along time to analyse!
• Time consuming
QUANTITATIVE RESEARCH
• Quantitative research refers to the systematic
empirical investigation of any phenomena via
statistical, mathematical or computational
techniques.
• The objective of quantitative research is to
develop and employ mathematical models,
theories and/or hypotheses pertaining to
phenomena Quantitative research is generally
made using scientific methods,
QUANTITATIVE RESEARCH
• It can include:
• The generation of models, theories and
hypotheses
• The development of instruments and methods
for measurement
• Experimental control and manipulation of
variables
• Collection of empirical data
• Modelling and analysis of data
• Evaluation of results
QUANTITATIVE RESEARCH
Advantages Disadvantages
• Quantitative research allows
the researcher to measure and
analyse data.
• The researcher is more
objective about the findings of
the research.
• Quantitative research can be
used to test hypotheses in
experiments because of its
ability to measure data using
statistics.
• The main disadvantage of
quantitative research is the
context of the study or
experiment is ignored.
• Quantitative research does not
study things in a natural
setting or discuss the meaning
things have for different
people.
• A large sample of the
population must be studied for
more accurate results
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.
• Business research 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.
Business Research
• Steps of business research:
• To know where the problem areas exist in the
organization.
• To identify as clearly and specifically as possible
the problems that need to be studied and
resolved.
• Gather information, analyze the data, and
determine the factors that are associated with
the problem and solve it by taking the necessary
corrective measures.
Research and the Manager
• The managers encounter big and small problems
on a daily basis, which they have to solve by
making the right decisions.
• In business, research is usually conducted to
resolve problematic issues in the areas of
accounting, finance, management, and
marketing.
Research and the Manager
• Problems in Accounting:
- Budget control systems
- Inventory costing methods
- Depreciation
- Time-series behavior of quarterly earnings
- Transfer pricing
- Taxation methods
Research and the Manager
• Problems in Finance:
- The operations of financial institutions -
Optimum financial ratios
- Mergers and acquisitions
- Leveraged buyouts
- Intercorporate financing
- Yields on mortgages
- The behavior of the stock exchange
Research and the Manager
• Problems in Management:
- Employee attitudes and behaviors
- Human resources management
- The impact of changing demographics on
management practices
- Production operations management
- Strategy formulation
- Information systems
Research and the Manager
• Problems in Marketing:
- Product image
- Advertising
- Sales promotion
- Product distribution
- Product packaging
- Product pricing
- After-sales service
- Consumer preferences
- New product development
Types of Business Research
• Research can be undertaken for two different
purposes:
1. To solve a current problem faced by the
manager in the work setting. Such research is
called applied research.
2. To generate a body of knowledge about how to
solve problems that could be occurred in
organizations. This is called basic research or
fundamental research. It is also known as pure
research.

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Introduction to business research methodology

  • 1. Introduction to Business Research Methodology Adil Nawaz Khan Department of Management studies UOM
  • 2. What is Science? • Science… ▫ a body of established knowledge ▫ the observation, identification, investigation, and theoretical explanation of natural phenomenon ▫ Must be repeatable usually the ultimate goal of science is theory generation and verification
  • 3. What is Theory? • Theory… ▫ a set of inter-related constructs and propositions that specify relations among variables to explain and predict phenomena ▫ should be simple, consistent with observed relationships, tentative and verifiable
  • 4. Scientific Method • Scientific Method… ▫ involves the principles and processes regarded as characteristic of or necessary for scientific investigation ▫ process or approach to generating valid and trustworthy knowledge
  • 5. Scientific Method • Research… ▫ the application of the scientific method ▫ a systematic process of collecting and logically analyzing information (data) ▫ Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.
  • 6. Research The systematic method consisting of enunciating the problem, formulating a hypothesis, collecting the facts or data, analyzing the facts and reaching certain conclusion either in the form of solutions towards the concerned problem or in certain generalizations for some theoretical formulation.
  • 8. Types of ResearchBASIC RESEARCH HISTORICAL RESEARCH PHENOMENOLOGICAL RESEARCH CORRELATIONAL RESEARCH ETHNOGRAPHIC RESEARC APPLIED RESEARCH EXPERIMENTAL RESEARCH EXPLORATORY RESEARCH DESCRIPTIVE RESEARCH GROUNDED THEORY RESEARCH QUALITATIVE RESEARCH QUANTITATIVE RESEARCH
  • 9. APPLIED RESEARCH • Applied research refers to scientific study and research that seeks to solve practical problems. • Applied research is used to find solutions to everyday problems, cure illness, and develop innovative technologies, rather than to acquire knowledge for knowledge's sake.
  • 10. APPLIED RESEARCH • For example, applied researchers may investigate ways to: • Improve agricultural crop production • Treat or cure a specific disease • Improve the energy efficiency of homes, offices, or modes of transportation
  • 11. BASIC RESEARCH • Basic (aka fundamental or pure ) research is driven by a scientist's curiosity or interest in a scientific question. • The main motivation is to expand man's knowledge, not to create or invent something. • There is no obvious commercial value to the discoveries that result from basic research.
  • 12. BASIC RESEARCH • For example, basic science investigations probe for answers to questions such as: • How did the universe begin? • What are protons, neutrons, and electrons composed of? • What is the specific genetic code of the fruit fly?
  • 13. CORRELATIONAL RESEARCH • Co relational research refers to the systematic investigation or statistical study of relationships among two or more variables, without necessarily determining cause and effect. • It Seeks to establish a relation/association/correlation between two or more variables that do not readily lend themselves to experimental manipulation.
  • 14. CORRELATIONAL RESEARCH • For example, to test the hypothesis “ Listening to music lowers blood pressure levels” there are 2 ways of conducting research • Experimental – group samples and make one group listen to music and then compare the BP levels • Survey – ask people how they feel ? How often they listen? And then compare
  • 15. CORRELATIONAL RESEARCH Advantages: Disadvantages: 1) Can collect much information from many subjects at one time. 2) 2) Can study a wide range of variables and their interrelations. 3) 3) Study variables that are not easily produced in the laboratory. • 1) Correlation does not indicate causation( cause and effect). • 2) Problems with self-report method .
  • 16. DESCRIPTIVE RESEARCH • Descriptive research refers to research that provides an accurate portrayal of characteristics of a particular individual, situation, or group. • Descriptive research, also known as statistical research. These studies are a means of discovering new meaning, describing what exists, determining the frequency with which something occurs, and categorizing information.
  • 17. DESCRIPTIVE RESEARCH • In short descriptive research deals with everything that can be counted and studied, which has an impact of the lives of the people it deals with. For example, • finding the most frequent disease that affects the children of a town. The reader of the research will know what to do to prevent that disease thus, more people will live a healthy life.
  • 18. DESCRIPTIVE RESEARCH Advantages: Disadvantages • The people individual studied are unaware so they act naturally or as they usually do in everyday situation; • It is less expensive and time consuming than quantitative experiments; • Collects a large amount of notes for detailed studying; • As it is used to describe and not make any conclusions it is to start the research with it; • Descriptive research requires more skills. • Does not identify cause behind a phenomenon • Response rate is low in this research. • Results of this research can change over the period of time.
  • 19. ETHNOGRAPHIC RESEARCH • Ethnographic research refer to the investigation of a culture through an in-depth study of the members of the culture; it involves the systematic collection, description, and analysis of data for development of theories of cultural behaviour. • • It studies people, ethnic groups and other ethnic formations, their ethno genesis, composition, resettlement, social welfare characteristics, as well as their material and spiritual culture.
  • 20. ETHNOGRAPHIC RESEARCH • Data collection is often done through participant observation, interviews, questionnaires, etc. • The purpose of ethnographic research is to attempt to understand what is happening naturally in the setting and to interpret the data gathered to see what implications could be formed from the data.
  • 21. EXPERIMENTAL RESEARCH • Experimental research is an objective, systematic, controlled investigation for the purpose of predicting and controlling phenomena and examining probability and causality among selected variables. Advantages • Best establishes cause-and-effect relationships Disadvantages • Artificiality • Feasibility • Unethical
  • 22. EXPERIMENTAL RESEARCH • The simplest experimental design includes two variables and two groups of participants. The two variables(Independent versus Dependent variables). • The IV is the predictor variable whereas the DV is the outcome variable. • Researchers manipulate and control the IV to study it's effect on the DV. The two groups of participants (Control versus Experimental group). • Before beginning the experiment, the researcher (randomly) assigns his/her sample to two different groups: the control group and the experimental (treatment group or clinical group). • The control group receives no manipulation of the IV (no treatment), whereas the experimental group receives the manipulation of the IV
  • 23. EXPLORATORY RESEARCH • Exploratory research is a type of research conducted for a problem that has not been clearly defined. • Exploratory research helps determine the best research design, data collection method and selection of subjects. • The results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation • Exploratory research is not typically generalizable to the population at large.
  • 24. EXPLORATORY RESEARCH • Exploratory research can be quite informal, relying on secondary research such as reviewing available literature and/or data, or qualitative approaches such as informal discussions with consumers, employees, management or competitors, and more formal approaches through in-depth interviews, focus groups, projective methods, case studies or pilot studies.
  • 25. GROUNDED THEORY RESEARCH • Grounded theory research is a research approach designed to discover what problems exist in a given social environment and how the persons involved handle them; it involves formulation, testing, and reformulation of propositions until a theory is developed. • Grounded theory is a research method that operates almost in a reverse fashion from traditional research and at first may appear to be in contradiction to the scientific method.
  • 26. GROUNDED THEORY RESEARCH • Four stages: 1. Codes-Identifying anchors that allow the key points of the data to be gathered 2. Concepts-Collections of codes of similar content that allows the data to be grouped 3. Categories-Broad groups of similar concepts that are used to generate a theory 4. Theory-A collection of explanations that explain the subject of the research (hypotheses)
  • 27. HISTORICAL RESEARCH • Historical research is research involving analysis of events that occurred in the remote or recent past Application • Historical research can show patterns that occurred in the past and over time which can help us to see where we came from and what kinds of solutions we have used in the past. • Understanding this can add perspective on how we examine current events and educational practices. The steps involved in the conduct of historical research
  • 28. HISTORICAL RESEARCH Here are the five steps: 1. Identification of the research topic and formulation of the research problem or question. 2. Data collection or literature review 3. Evaluation of materials 4. Data synthesis 5. Report preparation or preparation of the narrative exposition
  • 29. HISTORICAL RESEARCH Strengths Limitations • Provides a comprehensive picture of historical trends • Uses existing information • Provides evidence of on-going trends and problems Time-consuming • Resources may be hard to locate • Resources may be conflicting • May not identify cause of a problem • Information may be incomplete, obsolete, inconclusive, or inaccurate • Data restricted to what already exists Historical research gives a social scientist a better context for making realistic decisions.
  • 30. PHENOMENLOGICAL RESEARCH • Phenomenological research an inductive, descriptive research approach developed from phenomenological philosophy; its aim is to describe an experience as it is actually lived by the person • Phenomenology is concerned with the study of experience from the perspective of the individual, ‘bracketing’ taken-forgranted assumptions and usual ways of perceiving.
  • 31. PHENOMENLOGICAL RESEARCH • They are based in a paradigm of personal knowledge and subjectivity, and emphasise the importance of personal perspective and interpretation. • As such they are powerful for understanding subjective experience, gaining insights into people’s motivations and actions, and cutting through the clutter of taken-for-granted assumptions and conventional wisdom.
  • 32. Qualitative research • Qualitative research is research dealing with phenomena that are difficult or impossible to quantify mathematically, such as beliefs, meanings, attributes, and symbols • Qualitative researchers aim to gather an in- depth understanding of human behaviour and the reasons that govern such behaviour. The qualitative method investigates the why and how of decision making, not just what, where, when.
  • 33. QUALITATIVE RESEARCH Advantages Disadvantages • It enables more complex aspects of a persons experience to be studied • Fewer restriction or assumptions are placed on the data to be collected. • Not everything can be quantified, or quantified easily, Individuals can be studied in more depth • Good for exploratory research and hypothesis generation • The participants are able to provide data in their own words and in their own way • It is more difficult to determine the validity and reliability of linguistic data • there is more subjectivity involved in analysing the data. • “Data overload” – open-ended questions can sometimes create lots of data, which can take along time to analyse! • Time consuming
  • 34. QUANTITATIVE RESEARCH • Quantitative research refers to the systematic empirical investigation of any phenomena via statistical, mathematical or computational techniques. • The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to phenomena Quantitative research is generally made using scientific methods,
  • 35. QUANTITATIVE RESEARCH • It can include: • The generation of models, theories and hypotheses • The development of instruments and methods for measurement • Experimental control and manipulation of variables • Collection of empirical data • Modelling and analysis of data • Evaluation of results
  • 36. QUANTITATIVE RESEARCH Advantages Disadvantages • Quantitative research allows the researcher to measure and analyse data. • The researcher is more objective about the findings of the research. • Quantitative research can be used to test hypotheses in experiments because of its ability to measure data using statistics. • The main disadvantage of quantitative research is the context of the study or experiment is ignored. • Quantitative research does not study things in a natural setting or discuss the meaning things have for different people. • A large sample of the population must be studied for more accurate results
  • 37. 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. • Business research 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.
  • 38. Business Research • Steps of business research: • To know where the problem areas exist in the organization. • To identify as clearly and specifically as possible the problems that need to be studied and resolved. • Gather information, analyze the data, and determine the factors that are associated with the problem and solve it by taking the necessary corrective measures.
  • 39. Research and the Manager • The managers encounter big and small problems on a daily basis, which they have to solve by making the right decisions. • In business, research is usually conducted to resolve problematic issues in the areas of accounting, finance, management, and marketing.
  • 40. Research and the Manager • Problems in Accounting: - Budget control systems - Inventory costing methods - Depreciation - Time-series behavior of quarterly earnings - Transfer pricing - Taxation methods
  • 41. Research and the Manager • Problems in Finance: - The operations of financial institutions - Optimum financial ratios - Mergers and acquisitions - Leveraged buyouts - Intercorporate financing - Yields on mortgages - The behavior of the stock exchange
  • 42. Research and the Manager • Problems in Management: - Employee attitudes and behaviors - Human resources management - The impact of changing demographics on management practices - Production operations management - Strategy formulation - Information systems
  • 43. Research and the Manager • Problems in Marketing: - Product image - Advertising - Sales promotion - Product distribution - Product packaging - Product pricing - After-sales service - Consumer preferences - New product development
  • 44. Types of Business Research • Research can be undertaken for two different purposes: 1. To solve a current problem faced by the manager in the work setting. Such research is called applied research. 2. To generate a body of knowledge about how to solve problems that could be occurred in organizations. This is called basic research or fundamental research. It is also known as pure research.