Chapter 1 - Meaning and Scope

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    CHARACTERISTICS It is directed toward the solution of a problem It emphasises the development of generalisations,

    principles, or theories that will be helpful in predictingfuture occurrences.

    Research demands accurate observation anddescription. Research involves gathering new data from primary

    sources or using secondary data for a new purpose. Research requires expertise. Research strives to be objective and logical Research is characterised by patient and unhurried

    activity It is carefully recorded and reported.

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    CHAPTER QUESTIONS

    1. What is Business Research?2. What are the Characteristics of Research?3. Explain the importance of Business Research.

    4. Discuss research as used in1. Marketing, 2. Finance, 3. Human Resource and 4. OtherBusiness Areas.

    5. Elucidate the various steps in conducting

    research.