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Research methods
- 1. Introduction to ResearchMethods -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 • Researchinformation 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 ofsuccess is to know something nobody else knows. " Aristotle Onassis
- 5. Business Research Types Basic research Applied research
- 6. Basic Research orPure 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 • Conductedwhen 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 * Theprocedures 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 Thescientific method refers to techniques and procedures that help the researcher to know and understand business phenomena.
- 13. Scientific Method Scientificmethod is a systematic analysis and interpretation of empirical evidence (facts from observation or experimentation to confirm or disprove prior conceptions.)
- 14. Stages of theResearch 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 Statisticsfit 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 FourStages 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 EvaluationResearch • 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-MonitoringResearch • 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 toConduct Business Research • Time constraints • Availability of data • Nature of the decision • Benefits versus costs
- 21. Determining When toConduct 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 ExceedEstimated 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 forResearch 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 inthe 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: ReportWriting 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 ofthe 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 Generaltables Bibliography
- 31. Writing and PresentingReports 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 PresentingReports • 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.