Introduction of BRM - From VIVEK BHATT

8/3/2019 Introduction of BRM - From VIVEK BHATT

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Introduction to

Business Research Methods

2/13/2012 Introduction & Ice-breaking 1


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Introduction

BR can be defined as a systematic and objective

process of gathering, recording, and analyzing


decisions. Examples

to understand the market trends,

to find the optimal product mix,

to devise effective HR policies

to find the best investment options.


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Scope of Business Research

Business research is used to solve the various

operational and planning problems that arise in a


usiness organization.

The three major forms of business research are

Market Research Operations Research

Motivational Research


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Two Categories

Business research studies can be classified into

two categories


as c esearc

Applied Research


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Basic Research

Basic research refers to a focused, systematic

study or investigation undertaken to discover


facts or principles in a particular field.

Examples

Understanding the consumer buying process

Examining the consumer learning process


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Applied Research

This refers to investigation undertaken to

discover the applications and uses of theories,


solving problems.

Examples

Evaluating the impact of a training program onemployee performance

Examining consumer response to direct marketingprograms


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Role of Business Research in

Decision-making

The business decision-making process in an

organization goes through these key interrelated


Problem / opportunity identification

Problem / opportunity prioritization and selection

Problem / opportunity resolution

Implementing the course of action


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Factors affecting Business

Research

Conducting business research also involves cost,

time and effort. The major factors are


Time constraints

Availability of resources

Availability of data

Nature of information sought

Benefits versus cost


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Globalization and Business

Research

Companies are increasingly looking out for

international markets due to various compelling


Some of the issues that an organization needs to

consider before venturing into international

business research are


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Global business research efforts need to be more closely

associated with market growth opportunities outside

the industrialized nations.


International business researchers need to devise new

creative approaches to understand the international

markets. Researchers should make use of technological advances

in order to undertake international business activities

effectively.


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Primary Research and Internet

Primary data is collected directly from

respondents using data collection methods like


, ,

measurements, direct observation, or tabulation.

There are various advantages in conducting

online surveys compared to traditional surveymethods. These include


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The responses and feedback can be obtained faster.

Costs for conducting online surveys are less comparedto traditional surve methods.


Questionnaires can be delivered to the respondentsfaster.

Confidentiality is maintained as only the recipients readthe questionnaire.

Respondents can reply to the questionnaire at theirconvenience


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Secondary Research and Internet

Secondary data already exists which has been

collected by some other person or organization


the other researchers free or at a reasonablerate. Major use of the internet in businessresearch is in the area of secondary research. Theresearch reports and the data bases maintainedby major research companies are also availableon the net.


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Summary

Scope of Business Research

Basic research and Applied Research


Role of Business Research in Decision-making

Factors affecting Business Research

Globalization and Business Research Business Research and the internet

Documents

Introduction of BRM - From VIVEK BHATT