INTRODUCTION TO

BUSINESS RESEARCH

CHAPTER-1

RESEARCH METHODOLOGY

CONCEPTS AND CASES

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What is research?

Management research is an unbiased, structured, and sequential method of enquiry, directed towards a clear implicit or explicit business objective. This enquiry might lead to validating existing postulates or arriving at new theories and models.

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RESEARCH METHODOLOGY

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Types of research

BUSINESS RESEARCH

CONCLUSIVE RESEARCH

DESCRIPTIVE RESEARCH

APPLIED RESEARCH BASIC RESEARCH

EXPLORATORY RESEARCH

CAUSAL RESEARCH

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Types of research

Basic research : the basic premise is the need to KNOW and the concern is primarily academic in nature.

Applied research: Solution or action oriented research, that is contextual and practical in approach.

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Types of research

Exploratory research is loosely structured and the basic premise is to provide direction to subsequent, more structured method of enquiry.

Conclusive research is structured and definite in orientation. These studies are usually conducted to validate formulated hypotheses and specified relationships.

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Exploratory vs Conclusive Research EXPLORATORY RESEARCH CONCLUSIVE RESEARCH

Loosely structured in design

Are flexible and investigative in methodology

Do not involve testing of hypotheses

Findings might be topic specific and

might not have much relevance outside the researcher’s domain

Well structured and systematic in design

Have a formal and definitive methodology that needs to be followed and tested

Most conclusive researches are carried out to test the formulated hypotheses

Findings are significant as they have a theoretical or applied implication.

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Conclusive research

Descriptive research: The main goal of this type of research is to describe the data and characteristics about what is being studied.

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.

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The research process

Management Dilemma Basic vs Applied

Defining the Research Problem

Formulating the Research Hypothesis

Developing the Research Proposal

Data Collection

The Research Framework Research Design

Data Collection Plan Sampling Plan

Instrument Design

Pilot Testing

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

Data Refining and Preparation

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The research processThe management decision problem

Defining the research problem

Formulation of the working hypotheses

Construction of the research proposal

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The research process

Formulating the research design

Sampling considerations

Collecting the data for the study

Data analysis and interpretation of findings

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Research applications in marketing

Market & consumer analysis

Product research

Pricing research

Promotional research

Place research

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Research applications in financeAsset pricing, capital markets and corporate finance

Financial derivatives and credit risk modeling research

Market-based accounting research

Auditing and accountability

Other areas: financial forecasting, behavioural finance, volatility analysis

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Research applications in human resources

Training & development studies

Selection and staffing studies

Performance appraisal–design and evaluation

Organization planning and development

Incentive and benefits studies

Emerging areas–critical factor analysis, employer branding studies

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Research applications in production & operations management Operation planning and design

Demand forecasting and demand estimation

Process planning

Project management and maintenance effectiveness

studies

Logistics and supply chain-design and evaluation

Quality estimations and assurance studies

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Criteria for research MUST have: a clearly stated research purpose/ objective

MUST have: a sequential plan of execution

MUST have: a logical and explicitly stated justification for

the selected methods

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

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END OF CHAPTER

RESEARCH METHODOLOGY

CONCEPTS AND CASES

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