What is research ?

Labs, test tubes, Bunsen burners

Impact of grading system for internal evaluation on IBS students?

Breakfast habits of IBS students

Why managers should know about research ?

Research generates viable alternatives for effective decision making.

Business Research Defined

Business research is defined as the systematic and objective process of generating information for aid in making business decisions. OR Systematic and organised effort to investigate a specific problem encountered in work setting with the purpose of finding answer or solution to the problem.

Business Research Types

Research Type

Basic research

Applied research

1. Basic research
Source of most new ideas and theories Focuses on refuting or supporting theories

2. Applied research
Conducted when a decision must be made about a specific real-life problem Conducted to address a specific concern or develop and solution Usually sponsored by some agency or organization Often specific to only one situation or population

Basic Research : (or Fundamental Research or Pure Research) Attempts to expand the limits of knowledge. Research that provides information about a phenomenon or test a theory These are studies performed to increase understanding of a topic To get insights by collecting observations It does not attempt to solve a specific problem Examples : How do consumers evaluate quality of service, Ford Foundation + HSPS+ ILO study Research on the Effects of Media Violence

Basic Research Example

Is executive success correlated with high need for achievement?
Are members of highly cohesive work groups more satisfied than members of less cohesive work groups?

Applied Research : Problem specific research focused on resolving specific problems

Example: Why is quarterly sales showing a downward trend ? Am I losing my market share? To counter the competitor should rupees off be introduced to promote (stimulate demand) a product ?

Ashirwad Atta story.

Applied Research

Usually sponsored by some agency or organization Often specific to only one situation or population Conducted to address a specific concern or develop and solution Conducted when a decision must be made about a specific real-life problem exercise1.ppt#3. Slide 3

Applied research can be a. problem solving research specific, proprietary nature b. problem identification research concerned with a class of problems

Existing understanding

Basic research
Improved understanding ------------------------------------------------------Existing procedures, technology Applied research

Improved procedure or technology

The Decision-making Process: Role of Business Research

Identifying problems and opportunities Diagnosis and assessment Selecting and implementing a course of action Evaluating the course of action

Determining When to Conduct Business Research

Time constraints Availability of resources Nature of the information required Nature of Decision Benefits versus costs

Determining When to Conduct Business Research

Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes

Is the information already on hand inadequate for making the decision?

Yes

Is the decision of considerable strategic or tactical importance?

Yes

Does the value of the research information exceed the cost of conducting research?

Yes

Conduct Business Research

No

No

No

No

Do Not Conduct Business Research

Value Should Exceed Estimated Costs

Value
Decreased uncertainty Increased likelihood of a correct decision Improved business performance and resulting higher profits

Research expenditures
Delay of business decision and possible disclosure of information to rivals Possible erroneous research results

Costs

Major Topics for Research in Business

General Business Conditions and Corporate Research Financial and Accounting Research Management and Organizational Behavior Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research exercise1.ppt#1. Slide 1

Business Research in the 21st Century

Increased globalization Growth of the Internet and other information technologies

Global Research

Business Research is increasingly global Market knowledge is essential A.C. Nielsen - more that 67% international business

Global Business Research

General information about country economic conditions and political climate Cultural and consumer factors Market and competitive conditions demand estimation

The Internet Is Transforming Society

Time is collapsing. Distance is no longer an obstacle. Crossing oceans is only a mouse click away. People are connected 24 hours a day, seven days a week. "Instantaneous" has a new meaning.

Internet Research

Seeking facts and figures about an issue Surveys on Web sites