CHAPTER-1

INTRODUCTION TO BUSINESS RESEARCH

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.

Types of research
BUSINESS RESEARCH

BASIC RESEARCH

APPLIED RESEARCH

EXPLORATORY RESEARCH

CONCLUSIVE RESEARCH

DESCRIPTIVE RESEARCH

CAUSAL RESEARCH

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.

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.

Exploratory vs Conclusive Research

EXPLORATORY RESEARCH Loosely structured in design CONCLUSIVE RESEARCH Well structured and systematic in design Are flexible and investigative in Have a formal and definitive methodology methodology that needs to be followed and tested Do not involve testing of hypotheses Most conclusive researches are carried out to test the formulated hypotheses Findings might be topic specific and Findings are significant as they have a might not have much relevance outside theoretical or applied implication. the researchers domain

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Conclusive research
Descriptive research: The main goal of this type

of research is to describe the data characteristics about what is being studied.

and

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.

RESEARCH

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The research process

Management Dilemma Basic vs Applied Defining the Research Problem Formulating the Research Hypothesis

Developing the Research Proposal

The Research Framework Research Design Data Collection Plan Sampling Plan

Instrument Design

Pilot Testing

Data Collection

Data Refining and Preparation

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

RESEARCH

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The research process

The management decision problem Defining the research problem Formulation of the working hypotheses Construction of the research proposal

RESEARCH

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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

RESEARCH

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Research applications in marketing

Market & consumer analysis

Product research
Pricing research Promotional research Place research

RESEARCH

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Research applications in finance

Asset 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

RESEARCH

Research applications in human resources

Training & development studies

SLIDE1-12

Selection and staffing studies

Performance appraisaldesign and evaluation Organization planning and development Incentive and benefits studies Emerging areascritical factor analysis, employer

branding studies

RESEARCH

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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

RESEARCH

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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

RESEARCH

END OF CHAPTER

RESEARCH