Business Research Methods

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Business Research Methods

BRM - Assessment
Assessment will be a continual activity. C1: 1-10th session C2: 11-20th session C3: 21-30th session Mode of assessment Quiz (oral / written) Assignments Case Study
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BRM - Assessment
Students will be selected (random / nonrandom method) for quiz / case discussion on daily basis. A student selected in random draw, if absent, will get zero. Average of all scores of a student within 1-10th session will be reported as C1 score. C2, C3 also will be done in similar way.

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Business Research Methods

Assessment A student not getting selected even once up to 8th session will be allotted an assignment to be completed by 10th session (for C1). Similar method will be followed for C2 and C3.BRM . 4Page 4 Business Research Methods .

BRM . Penalty (for C1 / C2 / C3) 1 marks will be deducted (each time) if a student is found to help another student during assessment quiz / case discussion.Assessment Come in time. 1 marks will be deducted (each time) if a student comes late and knocks the door. Don’t knock the door if it is closed. 5Page 5 Business Research Methods .

Business Research Methods Introduction 6Page 6 Business Research Methods .

Business Research Business Research may be defined as Systematic & Objective Process of Gathering. 7Page 7 Business Research Methods . Recording and Analyzing data for aid in making business decisions. Systematicness and Objectivity are distinguishing features of Business Research. collection of information. analysis and interpretation of results to answer the required question. It involves planning.

Management Dilemma Usually a Business Research Process is triggered by some concern of the management. However. Management gets interested in exploring a problem situation. Management thinks it is worth exploring. not all problem / concerns are candidates for Business Research. 8Page 8 Business Research Methods .

Hence objective of Business Research is to improve the quality of decision-making. which. in turn. benefits the organization and helps ensure its efficiency. 9Page 9 Business Research Methods .When is Business Research Used? Business research methods are used in situations of uncertainty When decision makers face two or more possible action and want to select the best alternative.

When is Business Research Used? Total Certainty Decision-Making Situation Total Uncertainty Value of Research 10Page 10 Business Research Methods .

When Should Business Research be Undertaken Is sufficient time available? Yes Is information inadequate? Yes High importance of decision? Yes Research benefits greater than costs? Yes Undertake Business Research NO Do not undertake Business Research 11Page 11 Business Research Methods .

12Page 12 Business Research Methods .Examples A firm wants to produce a new product but first wants to ascertain if there is a potential demand for the product. A company wants to ascertain the satisfaction level of its employees. and take corrective action. A multinational firm wants to establish a production facility in another country after determining its technical and economic feasibility. the causes for any possible discontent.

Common Business Research Tools Surveys Interviews Observation Experiments Analysis Qualitative Quantitative 13Page 13 Business Research Methods .

Identify causes for an effect. Identify factors influencing product / people. Evaluate performance.Relevance & Significance Stay competitive / Business Growth. …… 14Page 14 Business Research Methods performance of . Identify customer requirements. Identify new opportunities.

15Page 15 Business Research Methods . Descriptive. Causal / Explanatory.Types of Research Exploratory / Formulative.

Exploratory Research Exploratory research is an initial research. done to gain better understanding of a problem. / 16Page 16 Business Research Methods . Undertaken with the aim of clarifying narrowing down the problem.

17Page 17 Business Research Methods . Determining a specific action is not a purpose of exploratory research. As Exploratory study is done at the initial stage.Exploratory Research The purpose is to get more information. usually secondary data are used.

Exploratory Research Gathering information Literature Study. search from internet Information from experts Focus group interview Pilot studies …………… Secondary data 18Page 18 Business Research Methods .

● A soap manufacturer wants to find out which brand of soaps are used by households in a city. generated for some other purpose. ● Use census data to find out purchasing power of households in a city. 19Page 19 Business Research Methods . Secondary data These are data already available.Primary & Secondary data Primary data Primary data are those that are generated specifically for a work.

Primary data Advantage Disadvantage It allows us to decide method Requires lot of time. takes longer time. suited to answer the specific Fast decision can not be issues. effort of data collection that is best and money. taken. Have full control on collecting Analysis from raw data unbiased data. 20Page 20 Business Research Methods .

problem better. time and money. sample.Secondary data Advantage Disadvantage It is economical. 21Page 21 Business Research Methods . It saves It often does not fit the efforts. It helps identify what time period may be totally additional data need to be different. collected as primary data. You may get only a few required items It helps understand the after a long search. Accuracy of secondary data It provides a basis for is unknown. Definition of units. requirement. comparison of the past work.

Literature Review A literature review aims to review the critical points of current knowledge. 22Page 22 Business Research Methods . Literature reviews are secondary sources. findings and contributions to a topic of interest.

Pilot Study Pilot study is done prior to a full scale study. It is done with a smaller segment of the population. 23Page 23 Business Research Methods . Pilot study helps in designing the actual study in a better way and avoid possible difficulties.

Multiple participants are interviewed together by a facilitator. 24Page 24 Business Research Methods . Focus groups are often used to produce exploratory data . ideas.Focus group interview Focus group is a group of people (<10) who are chosen (based on some criteria) to gather information.determine key issues. concerns on topic.

25Page 25 Business Research Methods . Can be useful in learning about experiences of marginalized groups. focus groups are used across different disciplines. Since 1970s. Provides forum for expression of interest.Focus group interview Developed in the 1940s by marketing researchers for getting information on consumers’ feelings about products.

Focus group interview In focus groups interview it is possible to examine participants’ perceptions (standpoints). motives (strategies). 26Page 26 Business Research Methods . and experiences (stories).

Choice of cell phone features in different age group. Descriptive research answers specific research questions. 27Page 27 Business Research Methods .Descriptive Research Descriptive research (also called statistical research) describes data and characteristics about the population or phenomenon being studied.

28Page 28 Business Research Methods . Normally preceeded by exploratory descriptive research studies. and Often difficult because of the influence of many factors present and requires higher order statistical tools (Discriminant analysis / Factor analysis / Cluster analysis etc).Causal Research Undertaken with the aim of identifying cause and effect relationships amongst variables.

Ethics in Research Researcher Subjects / Respondants Clients / Sponsor 29Page 29 Business Research Methods .

give true information. Cooperate with the researcher throughout the course of the study. State any constraints or limitations in advance. 30Page 30 Business Research Methods .Ethical Behaviour Subjects If agreed to participate in a research study.

No faulty conclusions. 31Page 31 Business Research Methods . courtesy and high professional standards. Protect confidentiality of the research subjects and research sponsors. Maintain objectivity. No alteration of data for any purposes.Ethical Behaviour Researcher Do not conceal purpose of the research.

Observe the confidentiality of the research subjects and researcher. 32Page 32 Business Research Methods . The conclusions drawn from research work should be consistent with the data and not influenced by any other factors.Ethical Behaviour Sponsor / Client Avoid manipulating and influencing the researcher.

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