This document provides an introduction to business research. It defines research as a careful investigation or inquiry through search for new facts and knowledge. Research involves discovery of new knowledge through observation and experimentation. It is concerned with solving problems and demands accurate data collection and analysis. The main purpose of research is to produce applicable knowledge, and it also forms the foundation for program development and policies. Business research specifically aims to gather information to aid decision-making in business. It identifies opportunities and threats, and is important for a company's success or failure. Business research refers to systematically collecting and analyzing data to find answers to management problems.

1. BUSINESS RESEARCH METHODS
UNIT 1
INTRODUCTION TO BUSINESS RESEARCH
Dr. Thulasi Krishna. K, Ph.D.
Dept. of Management Studies
MITS - Madanapalle

2. RESEARCH
• Research is the process of finding solutions to a problem after a thorough study and
analysis of the situational factors.
• Research generally refers to a search for knowledge.
• Dictionary definition of research is a careful investigation or inquiry especially through
search for new facts in any branch of knowledge.

3. • According to Robert Ross, “research is essentially an
investigation, a recording and an analysis of evidence for the
purpose of gaining knowledge.”
• A research need not lead to an ideal solution but it may give
rise to new problems which may require further research.
• Research is not an end to a problem since every research gives
birth to a new question. It is carried on both for discovering
new facts and verification of old ones.

4. FEATURES OF RESEARCH
• Research involves the discovery of new knowledge
• It is essentially an investigation
• It is concerned with the solution of a problem
• It is based on observation or experimental evidences.
• It demands accurate observation or experimentation.
• In research, the researchers try to find out answers for unsolved questions
• It should be carefully recorded and reported

5. SIGNIFICANCE OF RESEARCH
• The main purpose of research is to produce knowledge that can be applied outside a
research setting.
• Research also forms the foundation of program development and policies everywhere
around the universe.
• It also solves particular existing problems of concern. Research is important because we are
able to learn more about things, people, and events.

6. BUSINESS RESEARCH
• The purpose of business research is to gather information in
order to aid business related decision-making.
• In business, research is important in identifying
opportunities and threats. Often, a company’s success or
failure is dependent on the actions undertaken as a result
of conducting research.
• Business research refers to systematic collection and
analysis of data with the purpose of finding answers to the
problems faced by the management.

7. OBJECTIVES OF BUSINESS RESEARCH
• It can be carried out with the objective to explore, to describe or to diagnose a
phenomenon.
• It involves establishing objectives and gathering relevant information to obtain the answer
to a business issue and it can be conducted to answer a business related question, such as:
What is the target market of my product?
• Business research can also be used to solve a business-related problem, such as
determining how to decrease the amount of excess inventory on hand.

8. • Thank You