BUSINESS RESEARCH

CREATING NEW KNOWLEDEGE

  BUSINESS RESEARCH
 What is research?
 Need
 General research process

 DATA COLLECTION
 Primary data

CONTENT
1.Observation
2. Interviews
3. Surveys
4. Questionnaire
 Secondary data
1.Books
2. Literature
3. periodicals
4. Private sources
  Research comprises of two word “re”
and “search”.
 Research conducted for describing the
business problems of a particular
BUSINESS business, is business research.
RESEARCH  Including financial research,
operational research, marketing
research.
 An essential tool for in all the problem
solving and managerial decisions.
  Estimate expenses
 Price determination
NEED FOR
BUSINESS  Evaluating market trends
RESEARCH  Assisting managers in decision making
 Achieving competitive advantages.
GENERAL RESEARCH PROCESS
  Data is power. But before you can leverage that data
into a successful strategy for your organization or
business, you need to gather it. That’s your first step.
 Procedure for collecting, measuring and analyzing accurate
DATA COLLECTION insights for using standard validating techniques
 Data collection methods are used in businesses and sales
organizations to analyze the outcome of a problem, arrive at
a solution, and understand a company’s performance.
TWO TYPES OF DATA
Qualitative data
• Deals with numbers and statistics.
• Expressed in numbers and graphs.
• Used to test or confirm theories and
assumptions.
• Common quantitative methods
include experiments, observations
recorded as numbers, and surveys with
closed-ended questions.
Quantitative data
• Deals with words and meanings.
• Expressed in words.
• used to understand concepts, thoughts
or experiences. This type of research
enables you to gather in-depth
insights on topics that are not well
understood.
• Common include interviews with
open-ended questions, observations
described in words, and literature
reviews that explore concepts and
theories.
 Collected a fresh and for
first time and thus happen
to be original in character.
PRIMARY More reliable , authentic
DATA
and not been published
anywhere.
Validity is greater than
secondary data.
METHODS OF COLLECTING PRIMARY DATA

1.Observation
2.Interview
3.Schedule
4.questionnaire
OBSERVATION  Observation is a technique that involves systematically
selecting, watching, listening, reading, touching, and
recording behavior and characteristics of living beings,
objects, or phenomena.
 The observation method of data collection involves seeing
people in a certain setting or place at a specific time and
day.
 Researchers study the behavior of the individuals or
surroundings in which they are analyzing.
  Interviews are a method of data collection
INTERVIEW that involves two or more people
exchanging information through a series of
questions and answers.
 The interview method of data collection
involves presentation of oral verbal stimuli
and reply in terms of oral verbal response.
 Interviewer asks questions which are
aimed to get information required for
study .
SCHEDULE
 Very similar to questionnaire
 The main difference is that the schedule is
filled by the enumerator who is specially
appointed for the purpose.
 Enumerator goes to the respondent's, asks
them the questions from the order listed, and
records the response in the space provided.
  Questionnaire is as an instrument for
research, which consists of a list of questions,
QUESTIONNAIRE along with the choice of answers, printed or
typed in a sequence on a form used for
acquiring specific information from the
respondents.
 The questionnaire is prepared in such a way
that it translates the required information
into a series of questions, that informants can
and will answer.
 A questionnaire consists of a number of
questions printed in a definite order on a form.
  Already been collected by others.
 Secondary data may be available in
published or unpublished form.
SECONDARY  When it is not possible to collected
DATA
first hand data the investigator go
for secondary data.
 This data is collected for other
purpose than the problem in hand.
METHODS OF COLLECTING SECONDARY DATA

1.Books
2. Literature
3. periodicals
4. Private sources
THANK YOU