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Research Methodologies

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Objectives
• What is research and business research?
• Why is it necessary?
• Types of business research
• Major Topics for research in business
• Business research in 21st century

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• Research
• Business research
• Business research is the systematic and
objective process of gathering, recording, and
analyzing data for aid in making business
decisions

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Types of Research
• Basic (pure) research – research that intends
to expand boundaries of knowledge itself or
to verify the acceptability of a given theory

• Applied research – research undertaken to


answer questions about specific problems or
to make decisions about a particular course of
action or policy decision

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Exercise
• Identify as basic or applied research

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• Scientific method – techniques or procedures
used to analyze empirical evidence in an
attempt to confirm or disprove prior
conceptions

• Evaluation research – The formal objective


measurement and appraisal of the extent to
which a given activity, project, or program has
achieved its objectives

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Why is business research needed?
Two courses of action

• Research to be employed or not depends on:


1) Time constraints
2) Availability of data
3) Nature of decision – strategic or tactical
decision
4) Benefits vs. Cost

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Critical Questions to be asked while
checking feasibility of research
• Will payoff or rate of return be worth the
investment?
• Will information gained by business research
improve quality of decision and justify the cost
of research?
• Is the proposed research expenditure the best
use of available funds?

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Major topics for research in business
• Sales and marketing research –
- Market potentials
- Market share
- Market segmentation
- Sales analysis
- Distribution channels
- New product concepts

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Major topics for research in business
- Test markets
- Advertising research
- Buyer behavior
- Customer satisfaction
- Website visitation rates

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• Finance & Accounting research
- Forecasts of financial interest rates trends
- Stock, bond, and commodity value predictions
- Mergers and acquisitions
- Expected rate of return
- Credit risk
- Cost analysis

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• Corporate Responsibility Research
- Ecological impact
- Sex, age, and racial discrimination
- Social values and ethics

• Information Systems and Research


- Database analysis
- Datamining
- ERP systems
- CRM systems

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• Management and organizational behavior
research
- Morale and job satisfaction
- Employee productivity
- Structural issues

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Who conducts business research?

Internal
Research
Department

External • Business research firms


• Communication agencies
Research • Consultants
Suppliers • Trade associations

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Business research in 21st century
• Global in nature
• Internet usage

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What is Good Research? Exercise
• Research problem is clearly defined
• Research process detailed
Research proposal
• High ethical standards applied
No plagiarism
• Limitations frankly revealed

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What is Good Research?
• Adequate analysis for decision-makers
• Findings presented unambiguously
• Conclusions justified
Decision-based conclusions are matched with
detailed findings
• Researcher’s experience reflected
Researcher provides experience / credentials with
report

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