• The business research process involves a series of steps that systematically investigates a problem or an opportunity facing the

organization.

Problem Discovery and Definition

Discovery and Definition

Research Design

and so on

Conclusions and Report

Sampling

Data Processing and Analysis Data Gathering

Exploratory Research

9

Second ary (historic al) Data

Pilot Study

Experience Survey

Case Study

Exploratory Research

If you do not know where you are going, any road will take you there.

• A statement based on some presumptions about existence of a relationship between two or more variables • that can be tested • (proven/refuted) • by empirical data

• Makes the research question clearer to the researcher • RQ e.g. “Why are the sales of refrigerators going up in winter?”
• Hypothesis  “The sales of

refrigerators is going up in winter because of off-season discounts.” • AN INTELLIGENT GUESS

• The costs incurred on obtaining the needed information are compared with the benefits accruing to the organization. • If costs < benefits than it is better to halt the research. • To ensure that the required information does not already exist.

• • • • • • • •

Master plan Based on the research objectives Framework for action Specifies methods and procedures Time line of the research Budget allocation Sampling process Appropriate measurement techniques

• Surveys – employing questionnaire • Experiments – to establish causeeffect relationship. Manipulating variables. • Secondary data – already existing data • Observation – merely observation without interrruption of observers

Sample: subset of a larger population. • Sample should truly represent the population for which the results will be applied.

SAMPLE

POPULATION

• • • •

Who is to be sampled? How large a sample? How will sample units be selected? Avoid Sampling error. e.g. TV future sales potential • Sampling types:
– Probability sampling – Non-probability sampling

Data Processing and Analysis

• Effective communication of the research findings

• Major phase • Oral or written
– Objectives – Summary of research design – Major findings – Conclusions – Limitations and recommendations

• Lucid and concise • Historical document – future reference

Sign up to vote on this title
UsefulNot useful

Master Your Semester with Scribd & The New York Times

Special offer for students: Only $4.99/month.

Master Your Semester with a Special Offer from Scribd & The New York Times

Cancel anytime.