DEFINITION AND APPLICATIONS OF

BUSINESS RESEARCH (1.2)

PREPARED BY DR. POONAM KHURANA

Defining Business Research

Business research is a systematic inquiry that provides

information to guide decisions. More specifically, it is a

process of determining, acquiring, analyzing and
synthesizing and disseminating relevant data,
information and insights to decision makers in ways that
mobilize the organization to take appropriate actions
that, in turn, maximize business performance.

Management research is an unbiased, structured, and

sequential method of enquiry, directed towards a clear

implicit or explicit business objective. This enquiry might
lead to validating existing postulates or arriving at new
theories and models.

APPLICATIONS OF BUSINESS
RESEARCH

RESEARCH APPLICATIONS IN MARKETING:

Market & consumer analysis

Product research
Pricing research
Promotional research
Place research

APPLICATIONS OF BUSINESS
RESEARCH CONTD
IN FINANCE:
Asset pricing, capital markets and corporate finance
Financial derivatives and credit risk modeling research
Market-based accounting research
Auditing and accountability

Other areas: financial forecasting, behavioural finance, volatility

analysis

APPLICATIONS OF BUSINESS
RESEARCH CONTD
IN HUMAN RESOURCES:
Training & development studies
Selection and staffing studies
Performance appraisaldesign and evaluation
Organization planning and development
Incentive and benefits studies
Emerging areascritical factor analysis, employer branding studies

APPLICATIONS OF BUSINESS
RESEARCH CONTD
IN PRODUCTION AND OPERATION MANAGEMENT:
Operation planning and design
Demand forecasting and demand estimation
Process planning
Project management and maintenance effectiveness studies
Logistics and supply chain-design and evaluation
Quality estimations and assurance studies