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Chapter 1 Introduction to Research

Learning Objectives
By the end of this chapter successful students will be able to known:

1. Research Terminology 2. What is research 3. Business Research 4. Definition of Research 5. Business Research Types 6. Need of business research 7. Usefulness of business research 8. Need of Research for Managers

Research Terminology
Research (Re-search) means search again. Research methods refers to specific activities designed to collect and analyze the data. Research methodology is more about your attitude to and your understanding of research and the strategy you choose to answer research questions. Research technique is an approach or tool-andits-use, whereby data is gathered and analysed, and inferences are drawn.

What is research
Research is simply the process of finding solution to a problem after a thorough study and analysis of the situational factors. For Example: Consumer complaints Employee behaviors such as performance, absenteeism and turnover. Collection of account receivable.

What is research Cont

Managers in organizations constantly engage themselves in studying and analyzing issues and hence are involved in some form of research activity as they make decisions at the workplace. Sometimes managers make good decisions and problems get solved, sometimes they make poor decisions and the problem persists, and on occasion they make such huge blunders that the organization gets stuck in the slush. The difference between making good decisions and committing blunders lies in how managers go about the decision making process.

Crucial Questions
Good decision making fetch a yes answer to the following questions: Do managers identify where exactly the problem lies? Do they correctly recognize the relevant factors in the situation needing investigation? Do they know what type of information are to be gathered and how? Do they know how to make use of the information so collected and draw appropriate conclusions to make the right decisions? and Finally, do they know how to implement the results of e this process to solve the problem?

Crucial Questions Cont

To be a successful manager it is important that we know how to go about making the right decisions by being knowledgeable about the various steps involved in solving problematic issues. Identifying the critical issues, gathering relevant information, analyzing the data in ways that would help decision making, and implementing the right course of action are all facilitated by understanding business research.

Business Research
Business research can be described as a systematic and organized effort to investigate a specific problem encountered in the work setting, that needs a solution. It include a series of steps designed and executed , with the goal of finding answers to the issues that are of concern to the manager in the work environment.

Business Research Cont

The first step in research is to know where the problem areas exist in the organization and to identify as clearly and specifically as possible, the problems that need to be studied and resolved. Second step can be taken to gather information, analyze the data, and determine the factors that are associated with the problem and solve it by taking the necessary corrective measures. This entire process by which we attempt to solve problems is called research.

Definition of Research
Research is an organized, systematic, data-based, critical, objective, scientific inquiry/investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it.

Business Research Types

Research can be undertaken for two different purposes.

(1) Applied

(2) Basic

Applied Research: to solve a current problem faced by the manager in the work setting, demanding a timely solution, For example, a particular product may not be selling well and the manager might want to find the reasons for this in order to take corrective action. Thus research done with intention of applying the results of the finding to solve specific problems currently being experienced in the organization.

Business Research Types Cont

Basic research (pure/fundamental): to generate a body of knowledge by trying to understand how certain problems that occur in organizations can be solved. For instance, a university professor be interested in investigating the factors that contribute to absenteeism as a mater of mere academic interest. After gathering information on this topic the professor may identify factors such as inflexible work hours, inadequate training of employee, and low morale as primarily influencing absenteeism. Later on, a manager who encounter absenteeism of employee in his organization may use this information. Thus research done to understanding of certain problems that occur in organizational setting and seek methods of solving them.

Need of business research

The study of research methods will provide you with the knowledge and skills you need to solve the problems and meet the challenges of a fast-paced decision-making environment.

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Usefulness of business research

Research is very vital to our everyday decision making. It arms you from wrong information and save time and money. It is important to your success as you take on life's challenges and career decisions making. But be careful, because too much research without action on what you' re learning is not good either. The question is how much information is enough? How much information can you afford?

Need of Research for Managers

Knowledge about research and research methods helps professional manager to: 1. 2. 3. 4. 5. 6. Identify and effectively solve minor problems in the work setting. Know how to discriminate goods from bad research. Be aware of the multiple influences & multiple effects of factors impinging on a situation. Calculate risks in decision making, knowing full well the probabilities attached to the different possible outcomes. Hire researchers and consultants more effectively. Combine experience with scientific knowledge while making decisions.

The End