Research Method for Business chapter 1

Research Methods for Business
Khalid Javaid Anwer
KJAN
Welcome
Research Methods: Chapter 1

You and me in Class … !!
 How I will Teach?
 Follow the book
 Multimedia presentation
 Handouts of class lectures
 Hardcopy – Copier
 Softcopy – Maintenance Section
 What I expect from you?
 Be regular and participative
 Submit Assignments on time
 Behave in mature manner

Prescribed Text Book:
Research Methods for Business: A Skill – Building Approach
5th edition
Sekaran & Bougie
Syllabus:
Chapters = 1-2-3-4-5-6-7-8-10-11-12-14
Total = 12 Chapters
No of lectures available = 10
Research Methodsfor Business

Marks Distribution
Sessional Marks 50
 Quizzes 10
 Assignment 10
 Class participation/ Attendance 05
 Midterm test 25
End Term Exam 50
 Total 100
 Pass Percentage 50%
TERM WORKLOAD
 Quizzes : 4 (Avg. of best 3 will be graded)
 Assignments: 3 (Avg. will be graded)

Introduction to Research
Chapter 1

 Definition of Research
 Applied and Basic Research
 Why Managers Should Know About Research?
 Managers and the Consultant-Relationship
 Ethics and Business Research
TOPICS

PROBLEMEmployee’s
Turnover
Sales
decline
Customer
switching
Employees
Motivation
Poor
Punctuality
Poor
Performance

Sales
Decline
ISP
High Price
Stocks
Availability
Employees
Motivation
Timings Training
Product
Quality
Financial
constraint
Poor
Services

Employee’s
Turnover
Low
salaries
Manager
employee
relations
Employees
Motivation
Career
opportunity
Training
Skills
variety
Rumors
Work
itself
Location

 Advertising
 Product image
 Product pricing
 Sales promotion
 After-sales service
 Product packaging
 Product distribution
 Consumer preferences
 New product development
Problems in Marketing

 Depreciation
 Transfer pricing
 Taxation methods
 Budget control systems
 Inventory costing methods
 Time-series behavior of quarterly earnings
Problems in Accounting

 Leveraged buyouts
 Yields on mortgages
 Optimum financial ratios
 Inter-corporate financing
 Mergers and acquisitions
 The behavior of the stock exchange
 The operations of financial institutions
Problems in Finance

 Information systems
 Strategy formulation
 Human resources management
 Employee attitudes and behaviors
 Production operations management
 Impact of changing demographics on management practices
Problems in Management

 A process of finding solutions to a problem after a
thorough study and analysis of the situational factors.
 Managers make decisions…..
 Good decisions and the problem gets solved
 Poor decisions and the problem persists
What is Research?

 Modern technology and personal computer with any
means to an Internet connection has made research an
exciting.
 Decision making is merely a process of choosing from
among alternative solutions and research helps to
generate viable alternatives for effective decision making.
The Excitement of 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.
 Consisting of 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

Business Research as an organized systematic, data
based, critical, objective, scientific inquiry or
investigation into a specific problem undertaken with
the purpose of finding answers or solutions to it.
Definition;
Business Research:

“Scientific Research focusing on solving problems
and pursues a step by step, logical, organized and
rigorous method to identify the problems, gather
data, analyze them and draw valid conclusions
there from”.
Definition;
Scientific Research:

 Not based on guess, experience & intuition
 It is purposive and rigorous
 Findings are accurate and confident.
 Apply solutions to similar problems.
 It is more objective in nature.
 Enables all those who are interested in researching
and knowing about the same or similar issues to
come up with comparable findings when data are
analyzed.
Why Scientific Research? Because

 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.
Business Research: Phases

Distinction between Applied and Basic Research
The main distinction between applied and basic business
research is:
 Applied research is specifically aimed at solving a
currently experienced problem.
 Basic research has a broader objective of generating
knowledge and understanding of phenomena and
problems that occur in various organizational settings.
 Both types of research follow the same steps of
systematic inquiry to arrive at solutions to problems.
Distinctions

Research can be undertaken for two purposes:
1. To solve a current problem faced by the manager
in the work setting that 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 or pure research.
Types of Business Research

 University professors engage in basic research is an effort
to understand and generate more knowledge about various
aspects of businesses, such as:
1. How to improve the effectiveness of information
systems.
2. How to increase the productivity of the employees.
3. How to increase the effectiveness of small businesses.
4. What factors motivate employees at Preston university
 These findings later become useful for application in business
situations
Examples of Basic Research

 Managers with knowledge & without knowledge (advantage)
 Because of increasing complexity of organizations, and
the uncertainty of the environment,
 Knowledge of research and problem-solving process
helps managers to identify problem situations before
they get out of control.
 Minor problems can be solved by the manager, for major
problems the outside researchers/consultants are hired.
Managers and Research

 The manager who is knowledgeable about research can
interact effectively with the researchers.
 Knowledge about research process helps managers, to
determine whether or not the recommendations are
appropriate for implementation.
 When managers understand the research reports of their
organizations, they will be equipped to take intelligent,
educated, calculated risks with known probabilities
attached to the success or failure of their decisions.
 Research then becomes a useful decision-making tool.
Managers and Research

 Some organizations have their own research department,
which might be called:
a. The management services department
b. The organization and methods department
c. R & D (research and development department)
 Such a department within the organization serves as the
internal consultant if it face certain problems n seek help.
 This unit would be useful in several ways
Internal Versus External
Consultants / Researcher

 The internal researchers have better chance of being
readily accepted by the employees.
 The team would require much less time to understand
the structure, the philosophy and climate and work
system of the organization.
 They would be available for implementing their
recommendations after the research findings are
accepted.
 The internal team might cost considerable less than the
external team.
Internal Researchers
Advantages

 They might have less fresh ideas and perspectives that
might be needed to correct the problems.
 There is scope for certain powerful groups in the
organization to influence or misrepresent certain facts.
 There is a possibility that the internal researchers are not
perceived as “experts” by the management, and hence
their recommendations do not get the consideration and
attention they deserve.
 Certain organizational biases of the internal research
team might make the findings less objective and less
scientific.
Internal Researchers
Disadvantages

 They have a wealth of experience from having
worked with different types of organizations that
have had the same or similar types of problems.
 They might have more knowledge of current
sophisticated problem-solving models through their
periodic training programs.
External Consultants
Advantages

 The cost of hiring an external research team is high.
 They need a considerable time to understand the
organization to be researched.
 They seldom get a warm welcome, nor are accepted
by employees.
 They charge additional fees for their assistance in
the implementation and evaluation phases.
External Consultants
Disadvantages

 Ethics in business research refers to a code of
conduct 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.
Ethics and Business Research
Ethics

 The members that sponsor the research should do it in
good faith, pay attention to what the results indicate, and
pursue organizational interest.
 Ethical conduct should be reflected in the behavior of;
 The researchers who conduct the investigation
 The participants who provide the data
 The analysts who provide the results
 The entire research team that presents the interpretation of
the results and suggests alternative solutions.
Ethics and Business Research
Ethics

Research Method for Business chapter 1

Research Method for Business chapter 1

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Research Method for Business chapter 1