Business Research

‡ Introduction, definition, nature and scope of business research ‡ Importance of business research ‡ Process of business research

Definition
A process of determining, acquiring, analyzing , synthesizing and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that in turn maximize business performance.

OBJECTIVES OF RESEARCH
To gain familiarity with a phenomenon or to achieve new insights into it (exploratory or formulative research studies) To portray accurately the characteristics of a particular individual, situation or a group (descriptive research studies) To determine the frequency with which something occurs or with which it is associated with something else (diagnostic research studies) To test a hypothesis of a casual relationship between variables (hypothesis-testing research studies)

Types of research
Descriptive vs Analytical Applied vs Fundamental Quantitative vs Qualitative Conceptual vs Emprical Other types ± one time research/longitudinal research (based on purpose/time/environment)
Field setting research/laboratory research/simulation research Clinical/diagnostic research Historic research Conclusion oriented and decision oriented research

opinions and behaviours. . experimental and simulation approaches Qualitative approach ± assessment of attitudes.Research Approaches Quantitative approach-inferential.

Importance of Research Inculcates scientific and inductive thinking Promotes the development of logical habits of thinking of organization Basis for nearly all government policies in our economic system Helps in solving various operational and planning problems Helps in studying social relationships and in seeking answers to various social problems .

. research may mean a careerism To professionals in RM. its source of livelihood To philosophers and thinkers. it mean the outlet for new ideas and insights To literary men and women. For a ph. it mean the generalization of new theories .Different Perspectives.d scholar. it mean the development of new styles and creative work To analysts and intellectuals.

Exhibit 1-2 Hierarchy of Business Decision Makers Visionaries Visionaries Standardized Decision Makers Intuitive Decision Makers .

Collect data (execution) 6. Design research (including sample design) 5.Research Process 1. Interpret and report . Define research problem 2. Review of literature ( Review concepts and theories/review previous research finding) 3. Formulate hypotheses 4. Analyse data (test hypotheses if any) 7.

Qualities of good research A good research is SYSTEMATIC LOGICAL EMPRICAL REPLICABLE .

Exhibit 1-8 Characteristics of Good Research Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed Adequate analysis Unambiguous presentation Conclusions justified 1-12 Credentials .

Exhibit 1-4 Who Conducts Business Research? Internal External 1-13 .

Eastman Kodak has a world-class research department 1-14 .

1-15 Exhibit 1-4 Business Research Suppliers External Research Suppliers Business Research Firms Communication Agencies Consultants Trade Associations .

Inc. uses Internet-based concept testing called Conceptor to examine new product concepts 1-16 .Proprietary Research Decision Analyst.

Syndicated Services Nielsen Media Research provides audience data for television programs like Court TV 1-17 .

Exhibit 1-6 Some Syndicated Data Providers AC Nielsen Scarborough Millward Brown Nielsen Media Research Roper ASW CSA TMO Yahoo! ORC International DoubleClick Nielsen/NetRatings Taylor Nelson Sofres Intersearch J. Power Associates MediaMark Simmon (SMRB) BRMB Information Resources Inc.D. 1-18 .

Specialty Business Research Firms Methodology Process Industry Participant group Geographic Region 1-19 .

Communication Agencies Sales Promotion Advertising Direct Business 1-20 Public Relations .

Consultants and Trade Associations Consultants Business General Business Trade Associations General business Business specialties Research specialties 1-21 .

Key Terms Business intelligence system Business research Control Custom Researcher Data mining Data warehouse Decision support system Extranet Full-service researcher 1-22 Intranet Management dilemma Proprietary Methodology Return on Investment (ROI) Scientific method Strategy Syndicated data provider Tactics .

RESEARCH PROBLEM .

Problem ± Definition A specific managerial decision area to be clarified or problem to be solved. Eg: Coca Cola s change in decision to change its formula to introduce ³new´ coke in 1980s .

a preliminary investigation) Isolate and identify the problem rather than its symptoms (To the Point ± ad effectiveness) .cause to cause analysis) Understand the background of the problem (situation analysis.Problem Definition ± The Process Ascertain the decision maker¶s objectives (ice berg principle.

Determine the unit of analysis (Choice of respondents ± org/symptoms/pblm defn based on sym/true pblm) Determine the relevant variables (categorical . continuous & superfluous Dependent and Independent variables) State the research questions (hypotheses) and research objectives .

researchers should prepare a written statement that clarifies any ambiguity about what they hope the research will accomplish .Contd... Problem definition results in statements of research questions and research objectives At the end of the problem definition stage of the research process.

Eg: a manager many hypothesize that sales persons who show the highest job satisfaction will be the most productive .Hypothesis ? An unproven proposition or possible solution to a problem Problem statements(questions) and hypothesis (declarative) both state relationships.

Sources than are non leaders .examples There is a positive relationship b/w internet shopping and the presence of younger children in the home Managers with liberal arts educations will process less accounting data than will those with masters degree in business administration Opinion leaders are more affected by mass media commn.Hypotheses.

Example Eg : A statement made by a company: ³ the problem is to determine the best ways our company can train existing and potential users of networked personal computers´ Research questions How familiar are employees with the various software applications for personal computers .

What attitudes do employees have toward these software packages? How important are the various factors for evaluating the use of a personal computer? How effective are training efforts in increasing knowledge and use of the new applications? .

one cannot have a problem There must be alternative means for obtaining the objectives one wishes to attain. .Components of a research problem There must be an individual or a group which has some difficulty or the problem There must be some objectives to be attained at. If one wants nothing.

There must remain some doubt in the mind of the researcher with regard to the selection of alternatives There must be some environment(s) to which the difficulty pertains ..Contd.

Selection of research problem Subject which is overdone should not be normally chosen Controversial subject should not become the choice of an average researcher Too narrow or too vague problems should be avoided .

The subject selected for research should be familiar and feasible so that the related research material or sources of research are within one¶s reach The importance of the subject. the cost involved. the time factor etc should be considered .Contd. qualifications and the training of a researcher..

.Contd« The selection of a problem must be preceded by a preliminary study(not in case of a replicable research).

Necessity of defining the problem Research problem clearly started is a problem half solved What data are to be collected? What characteristics of data are relevant and need to be studied? What relations are to be explored? What techniques are to be used for the purpose? .

Technique involved in defining a problem 1. 3. Rephrasing the research problem . 2. statement of the problem in a general way Understanding the nature of the problem Surveying the available literature Developing the ideas through discussionsExperience survey 5. 4.

the definition of what the research should accomplish Is the researcher's version of the business problem The statement of the business problem influences the research objectives and design .Research objective The purpose of the research . expressed In measurable terms.

The number of research objectives should be limited to manageable quantity.Contd. Fewer the number of objectives .. easier it will be to ensure that each objective will be addressed fully .

Are managers aware of outplacement? 2.PROBLEM/QUESTIONS RESEARCH QUESTIONS 1. How concerned are managers about outplacement services? RESEARCH OBJECTIVES Should the organization offer outplacement services? To determine manager¶s awareness using aided recall To measure managers satisfaction with existing personnel policies Which of the services should be offered? New employment assistance? Personal counseling? Job contacts? How do managers evaluate the need for « New employment assistance ? Personal counseling? Job contacts? To obtain ratings and rankings of the various outplacement services .

RESEARCH DESIGN .

Blueprint for the collection.Meaning of research design A research design is the arrangement of conditions for collection and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure Conceptual structure within which research is conducted. measurement and analysis of data .

.Research can be divided into« Sampling design-method of selecting items Observational design ± conditions under which the observations are to be made Statistical design ± question of how many items are to be observed and how the data gathered are to be analyzed Operational design ± techniques by which the procedures specified in the sampling . statistical and obs designs can be carried out.

A clear statement of the research problem Procedures and techniques to be used for gathering information Population to be studied Methods to be used in processing and analyzing data .Research design must contain«.

(experimental error.) .Important concepts relating to research design« Dependent and independent variables Extraneous variables-independent variable that are not related to the purpose of the study but may affect the dependent variable . on dep. var.effect of extraneous var.

Control.minimize the effect of extraneous variables Confounded relationship Research hypothesis Experimental and non-experimental hypothesis testing research(indep. variable is manipulated or not) ..Contd.

Contd« Experimental and control groups Treatments Experiment (absolute or comparitive) Experimental units .

Questions??? Different steps involved in a research process Significance of research Types of research and difference bet them Objectives of research Criteria of good research .

Techniques of defining a research problem Components for research problem Necessity of defining a research problem Experience survey and pilot survey Rephrasing the research problem .

Meaning and significance of a research design Components of research design .

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