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Ltd
Chapter 1

Business Research Methods:

An Introduction

Business Research Methods, 2e Author: Naval Bajpai

 Learning Objectives

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Upon completion of this chapter, you will be able to:
❑ Understand the difference between basic and applied research
❑ Define business research
❑ Understand the roadmap to learn business research methods
❑ Learn how business research methods can be used as a decision
making tool by the managers
❑ Understand the business research process
❑ Get a preliminary idea about the use of software for data
preparation and data analysis

Business Research Methods, 2e Author: Naval Bajpai

 Introduction
❑ Business researchers systematically collect, compile, analyze,

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and interpret data to provide quality information based on
which a decision maker will be able to take a decision in an
optimum manner.
❑ Conducting research to deal with any problem is a scientific,
systematic, and interlinked exercise, which requires sound
experience and knowledge.

Business Research Methods, 2e Author: Naval Bajpai

 Difference Between Basic and Applied Research

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• Basic research is generally not related to a specific problem and its
findings cannot be immediately applied.
• Applied research directly addresses the problem at hand. Applied
research is launched by the firm, agency, or individual facing a
specific problem.

Business Research Methods, 2e Author: Naval Bajpai

 Defining Business Research

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• Business research method is a systematic and scientific procedure
of data collection, compilation, analysis, interpretation, and
implication pertaining to any business problem.
• Business research is defined as the systematic and objective process
of gathering, recording, and analysing data for aid in making
business decisions (Zikmund, 2007).
• Cooper and Schindler (2009) define business research as a
systematic enquiry that provides information to guide managerial
decisions.

Business Research Methods, 2e Author: Naval Bajpai

 Roadmap to Learn Business Research Methods

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• ..\Roadmap to learn business research
methods.docx

Business Research Methods, 2e Author: Naval Bajpai

 Business Research Methods: A Decision Making
Tool in the Hands of Management

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• Decision making is always a crucial part of any organizational
functioning.
• In the field of business research, this valuable information is
obtained using the following interrelated steps:
1. Problem or opportunity identification
2. Diagnosing the problem or opportunity
3. Executing business research to explore the solutions
4. Implement presented solutions
5. Evaluate the effectiveness of decision making

Business Research Methods, 2e Author: Naval Bajpai

 (1)Problem or Opportunity Identification
• Any delay in the problem identification and solution

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implementation; and the opportunity identification and
encashment may become harmful to the organization.

Business Research Methods, 2e Author: Naval Bajpai

 (2) Diagnosing the Problem or Opportunity

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• Organizations present these problems or opportunity scenarios to
the business researchers.
• Business researchers actually diagnose the problem or opportunity.
• Diagnosing involves exploring the situation to have a better insight
about the situation.

Business Research Methods, 2e Author: Naval Bajpai

 (3)Executing Business Research to
Explore the Solution

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• After the identification and diagnosis of the problem, business
researchers systematically conduct research to present a solution.

Business Research Methods, 2e Author: Naval Bajpai

 (4)Implement Presented Solution

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• Business researchers conduct research in consultation with the
decision makers of the concerned organization. The findings are
presented to the decision maker and he or she analyses these
findings in the light of his or her decision range.

Business Research Methods, 2e Author: Naval Bajpai

 (5)Evaluate the Effectiveness of Decision
Making

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• After taking a decision, its effectiveness is examined. This is
sometimes referred to as evaluation research.

Business Research Methods, 2e Author: Naval Bajpai

 Use of Software in Data Preparation
and Analysis

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• Nowadays, it is irrational to deal with data preparation and analysis
without the use of existing statistical software.
• This section focuses on introducing three widely used software
programs. They are MS Excel (2007), Minitab®, and SPSS (17).

Business Research Methods, 2e Author: Naval Bajpai

 Use of Software in Data Preparation
and Analysis

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• ..\Excel 2007.xlsx
• ..\SPPS 17.sav
• ..\Minitab 15.MPJ

Business Research Methods, 2e Author: Naval Bajpai