Research is used in business decision making to apply scientific methods to management problems in a systematic way. The research process involves defining the problem, designing the study, collecting and analyzing data, interpreting results, and reporting findings. There are different types of research designs depending on whether the goal is exploratory, descriptive, or testing hypotheses. Exploratory research explores problems broadly while descriptive and experimental research more specifically describe characteristics or test relationships between variables.

1. Role of research in business decision making

2. When research is used for decision-making, it means we are using the methods of science to the art of management. Research in common context refers to a search for knowledge. It can also be defined as a scientific and systematic search for gaining information and knowledge on a specific topic or phenomena. In management research is used in various areas such as to obtain information on consumer needs and gather market intelligence to help satisfy these needs efficiently.

3. Research process-steps Problem definition Research design Data collection Data analysis Interpretation of results Reporting

4. Characteristics of Research Systematic Approach- Each step planned so that it leads to the next step -saves time and money. Objectivity- should attempt to find an unbiased answer to the problem. Reproducible- any competent researcher could duplicate, and deduce approximately same results. Precise information regarding samples-methods, collection etc., should be specified. Relevancy- data collection & analysis should be relevant to the research objective. Control- all factors that we think may affect the study have to be controlled and accounted for.

5. Example of Control Suppose we are studying the relationship between incomes and shopping behaviour, without controlling for education and age, it will be foolish, since our findings may reflect the effect of education and age rather than income. Control Must Consider All factors, which are under control. Must be varied as per the study demands All variables beyond control should be recorded.

6. Structure of Research

7. Structure of Research-example Broad question ”Whether use of computers can improve performance of students in math” Hypothesis or a focus question “Whether XYZ method of computer instruction in math will improve the ability of school students in Pune.” Collect & analyse data Formulate conclusions about the results of a computerised math programme On the basis of results indicating that the math program had a positive effect on student performance, the researcher might conclude that other school districts similar to the one in the study might expect similar results.

8. Application of Research-examples Cadbury India Limited launched Picnic from its international portfolio in February 1998 on the basis of a consumer research study in Mumbai which showed that the Indian youth is always interested in experimenting with new food options.

9. Application of Research-examples Procter & Gamble (P&G ) launched Menthol, a variant of Head & Shoulders anti-dandruff shampoo on the basis of a market research study which indicated that in hot and humid conditions as in India, consumers prefer a shampoo which not only removes dandruff but also provides a cool and tingling sensation to the scalp.

10. Application of Research-examples Procter & Gamble (P&G ) launched launched Vicks Action 500 which not only treated headache but also gave relief from blocked nose on the basis of research which revealed that the most common symptom of cold was a headache and that majority of adults typically take a pill to cure it.

11. Activity List out the uses of research in the field of Hospital Management Railway Temple Management Traffic Control

12. Types of Research On the basis of the fundamental objectives of the research, we can classify research into two types: Exploratory Research Conclusive Research

13. Exploratory Research Used for broad and poorly defined problems. Designed to provide a background, to familiarize and, as the word implies, just “explore”, the general subject. Investigates relationships among variables without knowing why they are studied. Borders on curiosity approach, hoping that there may be a payoff in the application somewhere in the forest of questions. Three typical approaches- literature survey, experience survey, analysis of “insight-stimulating” examples.

14. Conclusive Research Conclusive research is used for testing the hypotheses generated by exploratory research. Conclusive research can further be classified as: Descriptive Experimental.

15. Descriptive Research Designed to describe something- for example, the characteristics of users of a given product; the degree to which product use varies with income, age, gender or other characteristics; or the number who saw a specific television commercial. Must only collect data for a definite purpose. Objective and understanding should be clear and specific.

16. Descriptive Research-example A cereal company may find its sales declining. On the basis of market feedback the company may hypothesise that teenage children do not eat its cereal for breakfast. A descriptive study can then be designed to test this hypothesis.

17. Experimental Research One or more variables are manipulated under controlled conditions, to permit the collection of data accurately. Situations are usually created for testing purposes. Gives more control over the factors being studied. Greater the control on the factors present in a given situation, more conclusive is the evidence of cause and effect between two or more factors. Permits you to accept or reject hypothesis reasonably well. Effective where the objective is to validate strongly the cause and effect relationship among variables.

18. Research Design The conceptual structure within which research is conducted; it constitutes the blueprint for the collection, measurement and analysis of data. The decisions regarding what, where, when, how much, by what means, concerning a research project constitute a research design.

19. Research Design What is the study about? Why is the study being made? Where will the study be carried out? What type of data is required? Where can the required data be found? What periods of time will the study include? What will be the sample design? What techniques of data collection will be used? How will the data be analysed? In what style will the report be prepared?

20. Need for Research Design Research design is needed because it facilitates the smooth sailing of the various research operations, thereby making research as efficient as possible yielding maximal information with minimal expenditure of effort, time and money. For example, for economical and attractive construction of a house we need a blueprint well thought out and prepared by an expert architect, similarly we need a research design or a plan in advance of data collection and analysis for our research project.

21. Types of Research Design Research design in case of exploratory research studies. Research design in case of descriptive and diagnostic research studies. Research design in case of hypothesis-testing research studies.

22. Design for exploratory research The main purpose of such studies is that of formulating a problem for more precise investigation or of developing the working hypotheses from an operational point of view. The major emphasis in such studies is on the discovery of ideas and insights. The research design appropriate for such studies must be flexible enough to provide opportunity for considering different aspects of a problem under study.

23. Common Design methods for exploratory research Survey of relevant literature : Hypotheses stated by earlier works may be reviewed and their usefulness be evaluated as a basis for further research. Experience survey : Survey of people who have had practical experience with the problem to be studied. Analysis of ‘insight-stimulating’ : Suitable in areas where there is little experience to serve as a guide. Consists of intensive study of selected instances of the phenomenon in which one is interested.

24. Design for descriptive and diagnostic research Descriptive research studies are concerned with describing the characteristics or narration of facts of a particular individual, or group whereas diagnostic research studies determine the frequency with which something occurs or its association with something else.

25. Design for descriptive and diagnostic research Must define clearly, what researcher wants to measure and must find adequate methods for measuring it. Clear cut definition of population researcher wants to study. Aim to obtain complete and accurate information. Procedure to be used must be carefully planned. Research design must make enough provision for protection against bias and must maximize reliability, with due concern for economical completion of research study.

26. Design for descriptive and diagnostic research Design must be rigid, not flexible - must focus on: Formulating the objective of the study Designing the methods of data collection Selecting the sample (how much material will be needed?) Collecting the data (where can the required data be found and with what time period should the data be related?) Processing and analysing the data. Reporting the findings