Business Research

Methods
 What is a Research?
Research may be defined as the creation of
new knowledge or the use of existing
knowledge in a new and creative way so as to
generate new understandings.

Research
 Research
 Basic Research
 Applied Research

Research
 Business Research
 Business Research may be defined as
Systematic & Objective Process of gathering,
recording data and analyzing/ extracting
information to help take business decision.

Research
When is Business Research Used?

Total Decision-Making Total

Value of Research

Research
 Template
Is required time
available?
Yes

Is information
inadequate?
Do not undertake
Yes NO
Business Research
High importance
of decision?

Yes
Research benefits
greater than costs? Yes Business Research

Research
 Relevance of Research
 Identify customer requirements.
 Evaluate performance.
 Identify factors influencing performance of
product / people.
 Identify causes for an effect (e.g. drop in
sales).
 Identify new opportunities.
 Stay competitive / Business Growth.
 ……

Research
Data for Research
 Primary & Secondary data
 Primary data
 Generated specifically for a work.
o A soap manufacturer wants to find out popular brands
of bathing soaps among households.
 Secondary data
 Dataalready available, generated for some other
purpose.
o Number of working couples in a city as per census
data.

Research
 Primary data
Advantage Disadvantage
 It allows us to decide  Requires long time,
data collection effort and money.
procedure that is best  Fast decision can not
suited to answer the be taken.
specific issues of  Analysis from raw
research. data takes longer time
 Have full control on (data cleaning /
data collection. editing etc.).

Research
 Secondary data
Advantage Disadvantage
 Economical - saves  May not fit the
efforts, time and money. requirement.
 Helps understand the  We may get only a few
problem better. records after a long
 Helps identify additional search.
data need.  Data may not be relevant.
 Provides a basis for  Accuracy / authenticity of
comparison of the past secondary data is
work. unknown.

Research
Overview of Research
Research Stages

Exploratory Descriptive Causal

Research
Exploratory Research
 Exploratory Research
 Initial
research for better understanding of a
problem / situation.
 Aim is to clarify or narrow down the problem /
scope.
 Deciding a specific action is not purpose of
Exploratory Research.
 Exploratory study is done usually with
secondary data.

Research
 Exploratory Research
 Gathering information
 Literature Study, search from internet
 Experts’ opinion
Secondary
 …………
data
 Interviews

 Pilot studies
 …………… Primary
data

Research
Descriptive Research
 Descriptive Research
 Descriptive research provides answers to
questions of who, what, where, when, and
how – but not why.

Research
 Descriptive Research
 Descriptivestudies report summary of data
(numerical or graphical).
 Mean, median, mode, variation, % etc.
 Charts, diagrams etc.
 Data collection
 Past data
 Survey

 Observation

 ….

Research
 Descriptive Research
 Survey
A method for collecting information about pre-
decided items from a population for a specific
purpose.

Research
 Descriptive Research
 Longitudinal Study
A longitudinal study is collection of repeated
observations of the same variables over long
periods of time.
 Methods
 Draw different units from the same sampling
frame.
 Use a “panel” where the same people are asked
to respond periodically.

Research
 Descriptive Research
 Cross-sectional study
 Cross-sectional study is collection of data
from a population or a representative sample,
at a specific time period.
 “Sample surveys” are cross-sectional studies
in which samples are drawn in such a way as
to be representative of a population.

Research
 Descriptive Research
 Cohort
 Cohort is a group of subjects who have shared a
particular time together during a time span and
share a common characteristic or experience.
A cohort study is a form of longitudinal study.
A group having one or more similar
characteristics is closely monitored over time
simultaneously with another group that does not
have the same characteristic.

Research
Causal Research
 Causal Research
 Causality research is understanding a
phenomenon in terms of conditional
statements of the form “If X, then Y.”
 Causal relationships may be determined
through
 Experiments.

 Regression.

 Higher order Statistical tools.

Research
Research Process
Research Process
Management Dilemma

Exploratory research

Literature Pilot Expert …….

Research
Problem definition Questions

Research Design

Research
Research Process (continued)
A

Survey Experiment Study of past data Observation

Sampling

Probabilistic Non-Probabilistic

Data collection

Data Analysis & Interpretation

Research
Management-Research
Question Hierarchy
Question Hierarchy
Management Dilemma

Management Question

Research Question

Investigative Question

Measurement Question

Research
 Problem Definition
 Problem Definition sets proper research
objective.
 Problem is clearly defined after an
exploratory research.
 We need to clearly state the deficiency /
opportunity that is expected to influence
business goal.

Research
 Problem Definition
 Answer to the following questions on the
problem may be used as a guideline while
defining a problem.
 What is the problem / opportunity?
 Where is the problem / opportunity?
 When does it occur?
 What is the impact?
 How much is the impact?
 Decide project scope / boundaries.

Research
 Hypothesis
 Hypothesis.
A conjecture which needs to be proved or
disproved using information.
 e.g.Research study: Effect of Introducing a
new health drink.
 H0: Sales remains same.
 HA:Sales increase by introduction of the new
health drink.

Research
Theoretical Framework
 Theoretical Framework
 Theories are developed by researchers to
explain phenomena, draw connections and
make predictions.
 Explore what theories and models other
researchers have already developed. 
 Theoretical
framework involves evaluating,
comparing and selecting the most relevant
ones.

Research
Research Design
 Research Design
 Research design is the plan for carrying out
the research.
 Research methods (Qualitative / Quantitative)
that is most suitable.
 Methods for data analysis.
 Methods for data collection.
 Test hypothesis and draw conclusion.

Research
 Research Design
 Qualitative.
 Quantitative.
 A Mix of Both.

Research
 Qualitative Research
 Asking
questions / observing and Interpreting
phenomena without depending on numerical
measurements.
 Inductive method (based on observations)
that incorporates values and perspectives of
participants.

Research
 Quantitative Research
 Deductive (based on theory) & uses
reasoning from general theories to specific
instances in an objective manner.
 Assessment based on numerical
measurements and analysis.

Research
Deductive Vs Inductive
Deductive Inductive

Theory Theory

Hypothesis
Pattern
Observation

Confirmation Observation

Research
 Research Design
 Defining & Finalizing variables for study.
 Formulation of Hypothesis (depending on
qualitative / quantitative study).
 Design, develop measurement scale.
 Questionnaire development.
 Designing of Survey / Interview etc.
 Procedure for Sample selection.
 Plan of data collection & analysis.

Research