Business research is defined as the systematic and objective process of gathering information to aid business decisions. There are two main types: basic research which expands knowledge without addressing specific problems, and applied research which answers questions about real problems. The scientific method is used in both, involving problem identification, research design, data collection and analysis, and conclusions. Statistics help summarize and analyze data. Business research should be conducted when it can provide valuable insights in a timely and cost-effective manner to inform important strategic or tactical decisions.

1. Introduction to Research Methods
-By Ashay and Bhushan

2. Business Research Defined
Business research is defined as the
systematic and objective process of
generating information for aid in
making business decisions.

3. Business Research
• Research information is neither intuitive nor
haphazardly gathered.
• Literally, research (re-search) -“search again”
• Business research must be objective oriented
• Detached and impersonal rather than biased
• It facilitates managerial decision process for
all aspects of a business by providing
information.

4. "The secret of success is to know something
nobody else knows. "
Aristotle Onassis

5. Business Research Types
Basic research
Applied research

6. Basic Research or Pure Research
• Attempts to expand the limits/boundaries of
knowledge.
• Conducted to verify the acceptability of a given
theory.
• Not directly involved in the solution to a
pragmatic problem.
• Basic research findings generally cannot be
immediately implemented.

7. Basic Research Examples
• Are members of highly cohesive work groups
more satisfied than members of less cohesive
work groups?
• How accepting are the people of a particular
country toward a new product?

8. Applied Research
• Conducted when a decision must be made about
a specific real-life problem.
• Research undertaken to answer questions about
specific problems or to make decision about a
particular course of action or policy.

9. Applied Research Examples
An organization contemplating a paperless
office and a networking system for the
company’s personal computers may conduct
research to learn the amount of time its
employees spend at personal computers in an
average week.

10. Applied Research Examples
• Should the ‘Mainland China Restaurant’ adds
Italian pasta dinners to its menu?
• Applied research told ‘Mainland China’ it should
not.

11. Scientific Method
* The procedures and techniques utilized by
basic and applied researchers do not differ
substantially.
* Both employ the scientific method to answer
the questions at hand.

12. Scientific Method
The scientific method refers to techniques
and procedures that help the researcher to
know and understand business
phenomena.

13. Scientific Method
Scientific method is a systematic analysis and
interpretation of empirical evidence (facts from
observation or experimentation to confirm or
disprove prior conceptions.)

14. Stages of the Research Process
Problem Discovery Discovery and
and Definition Definition
Research and so on
Design Conclusions and
Report
Sampling
Data Processing
and Analysis
Data
Gathering

15. Where does Statistics fit in?
• Statistics is the science of collecting, organizing,
analyzing, interpreting, and presenting data.
• A statistic is a single measure (number) used to
summarize a sample data set. For example, the
average height of students in this class.
McGraw-Hill/Irwin

16. Uses of Statistics
• Overview of Statistics
Statistics
Describing Making Inferences
Data from Samples
Visual Numerical Estimating Testing
Displays Summaries Parameters Hypotheses

17. Research @ work
Four Stages of Decision-making Process
• Identifying problems and opportunities
• Diagnosis and assessment
• Selecting and implementing a course of action
• Evaluating the course of action

18. Research @ work
Evaluation Research
• Evaluation research is the formal, objective
measurement and appraisal of the extent to
which a given activity, project, or program has
achieved its objectives.

19. Research @ work
Performance-Monitoring Research
• Research that regularly provides feedback for
evaluation and control of business activity
• Indicates things are or are not going as planned
• Research may be required to explain why
something “went wrong”.

20. Determining When to Conduct
Business Research
• Time constraints
• Availability of data
• Nature of the decision
• Benefits versus costs

21. Determining When to Conduct
Business Research
Availability of Benefits
Time Constraints Data Nature of the Decision vs. Costs
Is the infor- Does the value
Is sufficient time
mation already
Is the decision
of the research Conduct
available before of considerable
a managerial
on hand
strategic
information Business
inadequate exceed the cost
decision Yes for making Yes or tactical Yes of conducting Yes Research
must be made? importance?
the decision? research?
No No No No
Do Not Conduct Business Research

22. Value Should Exceed Estimated Costs
Costs
Value •Research
expenditures
•Decreased
uncertainty •Delay of business
decision and
•Increased likelihood possible disclosure
of a correct decision of information to
rivals
•Improved business
performance and •Possible erroneous
resulting higher research results
profits

23. Major Topics for Research in
Business
• General Business Conditions and Corporate Research
• Financial and Accounting Research
• Management and Organizational Behavior Research
• Sales and Marketing Research
• Information Systems Research
• Corporate Responsibility Research

24. Business Research in the 21st
Century
• Increased globalization
• Growth of the Internet and other information
technologies

25. Global Business Research
• General information about country - economic
conditions and political climate
• Cultural and consumer factors
• Market and competitive conditions - demand
estimation

26. Communicating Research Results:
Presentation and Report Writing

27. Communicating Research Results:
Report Writing
Report parts
Prefatory parts Main body of the report Appended parts

28. Prefatory parts
Title page Summary
Objectives
Letter of
transmittal Results
Letter of
Conclusions
authorization
Table of contents Recommendations

29. Main body of the report
Introduction Results Limitations
What? Area 1
Why?
Who? Conclusions and
Area 2
Where? recommendations
When?
Final area
Methodology
How?

30. Appended parts
Data collection
forms
Detailed
calculations
General tables
Bibliography

31. Writing and Presenting Reports
 Make it Attractive
• Descriptive title.
• Date
• Author(s)
• Page number.
• Wide margins.
• Typeface and point size.
• Bullets and subheadings.
• Bold face, italics, color.

32. Writing and Presenting Reports
• Tables and Graphs
• Embed in the narrative
near the paragraph in
which they are
interpreted.
• Number and title each table
above the table, each graph
below the graph

33. THANK YOU