DR

CHAPTER-1
D R D E E PA K C H AW L A

INTRODUCTION
NEENA SONDHI

TO
BUSINESS RESEARCH

RESEARCH CONCEPTS AND

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What is research?
DR

Management research is an unbiased,

structured, and sequential method of enquiry,
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directed towards a clear implicit or explicit

business objective. This enquiry might lead to
NEENA SONDHI

validating existing postulates or arriving at

new theories and models.

RESEARCH CONCEPTS AND

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Types of research
DR

BUSINESS RESEARCH
D R D E E PA K C H AW L A

BASIC RESEARCH APPLIED RESEARCH

NEENA SONDHI

EXPLORATORY CONCLUSIVE RESEARCH

RESEARCH

DESCRIPTIVE RESEARCH CAUSAL RESEARCH

RESEARCH CONCEPTS AND

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Types of research
DR

Basic research : the basic premise is the need

to KNOW and the concern is primarily academic
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in nature.
NEENA SONDHI

Applied research: Solution or action oriented

research, that is contextual and practical in
approach.

RESEARCH CONCEPTS AND

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Types of research
DR

Exploratory research is loosely structured and the

basic premise is to provide direction to subsequent,
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more structured method of enquiry.

NEENA SONDHI

Conclusive research is structured and definite in

orientation. These studies are usually conducted to
validate formulated hypotheses and specified
relationships.

RESEARCH CONCEPTS AND

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Exploratory vs Conclusive Research

DR

EXPLORATORY RESEARCH CONCLUSIVE RESEARCH

 Loosely structured in design  Well structured and systematic in
design
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 Are flexible and investigative in  Have a formal and definitive

methodology methodology that needs to be followed
and tested
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 Do not involve testing of hypotheses  Most conclusive researches are carried

out to test the formulated hypotheses
 Findings might be topic specific and  Findings are significant as they have a
might not have much relevance outside theoretical or applied implication.
the researcher’s domain

RESEARCH CONCEPTS AND

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Conclusive research
DR

Descriptive research: The main goal of this type

of research is to describe the data and
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characteristics about what is being studied.

NEENA SONDHI

Causal research: Explores the effect of one or

more variables on other variable(s), with
reasonable level of certainty by controlling the
impact of other influencing variables.

RESEARCH CONCEPTS AND

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The research process Management Dilemma

Basic vs Applied
DR

Defining the Research Problem

Formulating the Research Hypothesis

Developing the Research Proposal

D R D E E PA K C H AW L A

The Research Framework

Research Design

Data Collection Plan Sampling Plan

NEENA SONDHI

Instrument Design

Pilot Testing

Data Collection

Data Refining and Preparation

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

RESEARCH CONCEPTS AND

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The research process

DR

The management decision problem

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Defining the research problem

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Formulation of the working hypotheses

Construction of the research proposal

RESEARCH CONCEPTS AND

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The research process

DR

Formulating the research design

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Sampling considerations
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Collecting the data for the study

Data analysis and interpretation of findings

RESEARCH CONCEPTS AND

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Research applications in marketing

DR

Market & consumer analysis

Product research
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Pricing research
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 Promotional research

Place research

RESEARCH CONCEPTS AND

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Research applications in finance

DR

Asset pricing, capital markets and corporate finance

 Financial derivatives and credit risk modeling research

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Market-based accounting research

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Auditing and accountability

Other areas: financial forecasting, behavioural finance,

volatility analysis

RESEARCH CONCEPTS AND

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Research applications in
human resources
Training & development studies
DR

Selection and staffing studies

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Performance appraisal–design and evaluation

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Organization planning and development

Incentive and benefits studies

Emerging areas–critical factor analysis, employer branding

studies
RESEARCH CONCEPTS AND
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Research applications in
production & operations management
DR

Operation planning and design

Demand forecasting and demand estimation

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Process planning
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Project management and maintenance effectiveness

studies
Logistics and supply chain-design and evaluation

Quality estimations and assurance studies

RESEARCH CONCEPTS AND

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Criteria for research

MUST have: a clearly stated research purpose/ objective
DR

MUST have: a sequential plan of execution

MUST have: a logical and explicitly stated justification for the

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selected methods
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MUST have: an unbiased and neutral method of conduct and

reporting
MUST have: complete transparency and ethical conduction of

the research process

MUST have: provision for being reliable & replicable

RESEARCH CONCEPTS AND

 D R D E E PA K C H AW L A DR
NEENA SONDHI

RESEARCH
CONCEPTS AND
END OF CHAPTER