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BUSINESS RESEARCH METHODS (B.COM)

MODULE I
BUSINESS RESEARCH
Research
Research simply refers to in-depth study about a particular
topic by using scientific methods.
Business research
It refers to systematic collection and analysis of data with the
purpose of finding answers to the problem faced by the
management.
Features of business research
1. It is systematic and objective.
2. It has a clear objective.
3. It is multidisciplinary.
4. It determine profitability of the business.
5. It is flexible in nature.
6. It is most often demand driven.
Importance/Significance/Benefits of business research
1. Information for economic planning.
2. It helps to solve operational and planning problems.
3. It helps in business decision making.
4. It helps in demand forecasting.
5. It helps in formulating government policies.
6. It helps in decision making of large business.
7. It helps in SWOT analysis.
8. It helps in growth and expansion of business.
Types of research
1. Basic research
Basic research is a type of research which is undertaken out of
intellectual curiosity or inquisitiveness. It is also known as pure
research, fundamental research.
Features of basic research
1. It is related with principles, laws or rules.
2. The aim is to attainment of knowledge and truth.
3. It try to find out cause and effect relationship of a social
phenomenon.
4. It is problem oriented.
5. It is original type of research.
 2. Applied research
It refers to scientific study and research that help to solve
practical problems.
Features of applied research
1. It find out solution to a real life problem.
2. It is based on pure research.
3. It is problem or goal oriented.
4. It integrate previously existing knowledge.
5. It seeks solution to immediate problems.
Difference between pure research and applied research
Pure research Applied research
It is original type of research. It is based on pure research.
It is knowledge oriented. It is problem or goal oriented.
Theoretical and exploratory in Practical and descriptive in
nature. nature.
Reports are in common language. Reports are in technical language.
It is try to explain why thing is It is try to explain how things can
happen. be changed.

3. Exploratory research
It is a research used to investigate a problem which is not
clearly defined. It is also called formative research.
Objectives/Features of exploratory research
1. To generate new ideas.
2. To make an exact formulation of the problem.
3. To clarify concepts.
4. To determine the feasibility of the study.
5. To increase researchers familiarity with problem.
Exploratory research methods
Experience survey
Secondary data analysis
Case study
Pilot study
Focus group
4. Descriptive research
It refers to the methods that describes the characteristics of the
variable under study. It is also known as statistical research.
5. Experimental research
It is a scientific investigation conducted by using two sets of
variables. It is also called casual research.
6. Diagnostic research
It is a type of research conducted to identify the cause of a
problem .
Steps in research process/Phases of research (Essay topic)
1. Tentative selection of the topic
2. Initial survey of literature
3. Finalization of research problem
4. Formulation of the problem
5. Extensive literature survey
6. Formulation of hypothesis
7. Preparation of research design
8. Preparation of sample design
9. Collection of data and execution of project
10. Analysis of data
11. Testing of hypothesis
12. Generalization and interpretation
13. Preparation of research report
Research problem
It refers to some kind of problem which a researcher
experiences in the context of theoretical or practical situations.
Criteria for good research problem
1. It should be original.
2. It should be solvable.
3. It should be feasible.
 4. It should be innovative.
5. It should be cost effective.
6. It should be interesting.
Proposition
It is a declarative statement that is either true or false but not
both.
Hypothesis
It is the tentative assumption of the relationship between two
or more variables.
Characteristics of a good hypothesis
1. It should be related to a body of theory.
2. It should be clear and precise.
3. It should be capable of verification.
4. It should be simple and specific.
5. It should be capable of being tested.
Types of hypothesis
1 Descriptive hypothesis
It describe the characteristics of a variable.
2 Relational hypothesis
It establishes the relationship between two or more variables.
3 Statistical hypothesis
Association of two or more variables are hypothesed.
4 Null hypothesis
It is a hypothesis, which point out there is no differences
between two populations in respect of same property.
5 Alternative hypothesis
When we reject the null hypothesis, we can accept another
hypothesis is called alternative hypothesis.
Non directional hypothesis
It is a type of alternative hypothesis used in statistical
significance testing.
Case study
It is an in-depth comprehensive study of a person, a process,
situation or any other social units.
Pilot study
It is a small scale preliminary investigation to determine the
feasibility of a larger study.
Variables
Variables are concepts that are measured, manipulated or
controlled in a study.
Classifications of variables
1 Dependent variables
2 Independent variables
3 Moderating variables
4 Intervening variables
1 Dependent variables
A variable whose value depends on the value of another
variable or variables is known as dependent variable.
2 Independent variable
A variable whose value does not depend on the value of
another variable or variables is known as independent variable.
3 Moderating variable
It is a variable, the presence of which, modifies the original
relationship between the independent and dependent variable.
4 Intervening variable
It is a hypothetical variable used to explain casual links between
other variables.
5 Extraneous variable
Extraneous variables are undesirable variables that influences
the relationship between variables an experimenter is
examining.
Theory
It is a set of logically interrelated statements in the form of
empirical assertions about properties of infinite class of events.
 Requisites/ criteria of theory
1 They must be logically consistent.
2 They must be interrelated.
3 The statement must be exhaustive.
4 The proposition should be mutually exclusive.
5 They must be capable of being tested.
Induction
It is a process of reasoning from a part to the whole, from
particular to general or from individual to universe.
Deduction
It is a process of drawing generalization through inference from
the general to particular.
Difference between induction and deduction
Induction Deduction
General to particular approach Particular to general approach
Method of verification Method of discover
Very quick method Very slow method
Downward movement Upward movement