Introduction to Business

1. 2
Introduction to
BUSINESS RESEARCH METHODS
Contents:
• Defining Business Research
• Uses of Business Research
• Common Business Research
Methods & Techniques
• Fields Where Business
Research is Often Used
• Basic and Applied Research
• Science and the Scientific
Method
• The Value of Business
Research for Managers
• When Should Business
Research be Undertaken?
• Costs and Benefit Analysis of
Undertaking Business
Research
• The Building Blocks of
Research
• Global Information Support
Systems
• Data and Information Sources
in Pakistan
Dr. Raheem Bux Soomro
Associate Professor
Shah Abdul Latif University
Pakistan
Lecture 01

2. Course Objectives
3
To introduce core concepts research methods
according to current literature in the area of
business management.
• Critically evaluating different research
methods by identifying both pros and cons
of qualitative and quantitative methods.
Application of theoretical knowledge
acquired in this tutorial to numerous real-life
situations in business, public-sector and non-
profit enterprises
To stimulate interest in the business research
field as a prospective career field.

3. Course Details (1)
• Introduction to business
research methods
• Research Terminology and the
Scientific Method
• Designing and implementing a
research project
• Ethics in Research
• Types of Research
• Measurements in Research

4. 5
• Primary and
Secondary Data
• Analyzing primary and
secondary data
(quantitative
techniques)
• Communicating
Research Results
• Undertaking Research
Project by the course
participants,
Course Details (2)

5. Defining Business Research
• Business Research may be defined as the
“systematic and objective process of gathering,
recording and analyzing data for aid in making
business decisions” (Zikmund, Business Research
Methods, 2002, p. 6).
6
• According to Koontz and O’Donnel, “Decision-
making is the actual selection from among
alternatives of a course of action.”
• Something that people undertake in order to find
things out in a systematic way, thereby increasing
their knowledge’ (Saunders et al., 2009).

6. Defining Business Research
7
Source: http://calon.catpictures.co/market-research-flow-chart/

7. Defining Business Research
• Systematicness and Objectivity are its
distinguishing features of Business Research,
which is important tool for managers and
decision-makers in corporate and non-corporate
organizations.
• Data are collected systematically.
• Data are interpreted systematically.
• There is a clear purpose to find things out.
8

8. Defining Business Research
9
Research is a process of
enquiry and investigation
It is systematic and
methodical
Research increases
knowledge.
Alternatives of a course
of action

9. Uses of Business Research
• Typically, business research methods are used in situations of uncertainty,
that is, when decision-makers face two or more courses of action and seek
to select the best possible alternative under the circumstances.
• Business Research is hence aimed at
improving the quality of decision-
making which, in turn, benefits the
organization and helps ensure its
continuity and efficiency

10. For example, when choosing a
place to establish a new business,
the criteria might include rental
costs, availability of skilled labor,
access to transportation and means
of distribution, and proximity to
customers. Based on the relative
importance of these factors, a
business owner makes a decision
that best meets the criteria.
Uses of Business Research

11. “Most discussions of
decision making assume
that only senior executives
make decisions or that only
senior executives’ decisions
matter. This is a dangerous
mistake.” Peter Drucker
Source:https://courses.lumenlearning.com/suny-
orgbehavior/chapter/11-2-understanding-decision-making/

12. Typical Users of Business Research Methods
Businesses
and
Corporation
s
Research
Institutes
Public-
Sector
Agencies
Independent
Researchers
and
Consultants
Non-
Government
al
Organization
s
Non-Profit
Organization
s
Consulting
Firms

13. Common Business Research Methods & Techniques
1.Surveys
1.Interviews
1.Observation
1.Archival and
Historical Data
1.Experiments
Qualitative Analysis
1.Quantitative Analysis

14. Fields Where Business Research is Often Used – (1)
Sales and Marketing Research
• Establishment of sales quotas
• Website visitation rates
• New product concepts
• Market characteristics
• Customer satisfaction
• Market segmentation
• Advertising research
• Market Potentials
• Buyer behaviour
• Market Share
• Sales Analysis
• Test markets
Financial and Accounting Research
• Stock,bond And Commodity Value Predictions
• Forecasts Of Financial Interest Rate Trends,
• Research On Financial Institutions
• Capital Formation Alternatives
• Capital Asset Pricing Models
• Mergers And Acquisitions
• Expected Rate Of Return
• Risk-return Trade-offs
• Portfolio Analysis
• Impact Of Taxes
• Cost Analysis
• Credit Risk
General Business Conditions and
Corporate Research
Short- & Long-Range Forecasting
Plant and Warehouse Location
Business and Industry Trends
Global Environments
Inflation and Pricing
Acquisitions

15. Information Systems Research
• Knowledge and information needs assessment
• Computer information system use and
evaluation
• Technical suppot satisfaction
• Database analysis
• Data mining
• Enterprise resource planning systems
• Customer relationship management systems
16
Management and Organizational
Behaviour Research
• Organizational Effectiveness
• Morale and Job Satisfaction
• Absenteeism and turnover
• Total Quality Management
• Organizational Climate
• Employee Productivity
• Leadership Style
• Structural ssues
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and
promotion
Sex, age and racial discrimination / worker
equity
Social values and ethics
Fields Where Business Research is Often Used – (2)

16. Selected Examples of Real-Life Situations
17
Pak Suzuki wants to produce and market a
new automobile but first wants to ascertain if
there is a potential consumer demand for this
product in local markets.
1
A Pakistani multinational firm (Shan Foods)
wants to establish a production facility in
China after determining its technical and
economic feasibility.
Pakistan Railway wants to ascertain the
satisfaction level of its passengers, the causes
for any possible discontent, and propose
strategies to enhance satisfaction.

17. 18
Bank Al Habib Limited wants to invest in
commodities and commissions a study to
determine the past trends and forecast future
returns in a portfolio of commodities.
Selected Examples of Real-Life Situations
The CEO of K-Electric wants to undertake a
SWOT-Analysis as part of his plan to redefine
his organization’s priorities