2. 2
Comprehensive introduction to Research Methodology (Business Research
Methods)
Knowledge acquisition and application of subject matter to real-life situations
Course literature (see the „must read“ section)
Use of multimedia visual aids (MS PowerPoint slides)
Reference to case studies when desirable
Encouragement of questions, comments and constructive criticism from course
participants
Analytical and critical thinking, inquisitiveness as well as common sense from
course participants also expected
How This Course Will Be Conducted
3. 3
listen attentively
be considerate and amenable
be inquisitive, analytical and critical
in your approach to learning
research methodology
mention if you do not understand
something and seek clarification
read the prescribed course
literature. It is the basic
requirement for comprehending
research methodology and
succeeding in this course
start reading from the beginning
of the course and not towards the
end!
• be late to class.
• distract the attention of other
course participants
• use mobile phones or send SMS
messages in the class
• feel afraid to bring up any relevant
point for discussion
• hesitate to visit me at my office,
individually or as a group, if you
have a course-related problem and
seek counseling in this regard
The DO‘s and DONT‘s Catalogue for Course Participants
4. Fundamental Course Objectives
4
To acquaint course participants with all salient aspects of research methodology in accordance
with the current body of scientific literature on this challenging, interesting and indepensible area
of management science
To show that the subject of research methodology has matured into a substantive body of
knowledge, an indepth understanding of which is crucial for ensuring the success of commercial or
non-commercial organizations
To show and encourage the course participants that the theoretical knowledge acquired in this
course can - with the appropriate context-related modifications - be applied to numerous real-life
situations in business, public-sector and non-profit enterprises
To stimulate interest in the business research field as a prospective career field
5. Demands on Course Participants
5
Acquisition and careful application of knowledge
Analytical and critical thinking, innovation, inquisitiveness
Holistic perspective
Quizzes & (proof that the course participant is familar with the essentials
Sessionals of research methodology)
Project Work (each course participant is expected to show that he or she
is able to apply the research skills learned in this course)
Examination (case study in which each course participant is expected to
demonstrate his or her indepth understanding of research
methodology and apply the knowledge acquired in the course to a
real-life situation)
The essence of knowledge is having it to apply it - Confucius
6. Important Information for Course Participants – (1)
6
You MUST read the course literature from the beginning of the semester.
Relying on the PowerPoint slides is NOT sufficient! The purpose of these slides
is to provide you with a broad and general introduction to research methodology.
Kindly note that the slides are intended as a supplement to, and NOT
as a substitute for the prescribed course literature
The prescribed course literature will be used as a reference for the quizzes,
sessionals and final examination. Failure to read and understand the course
literature could mean that a course participant will fail the course! An automatic
passing grade in this course is NOT guaranteed, rather, a course participant‘s
marks will reflect his or her effort and performance in the subject
7. 7
The project work to be undertaken in this course will be chosen by the course
instructor and must be undertaken by the course participant according to the
project guidelines which will be distributed in paper form seperately. It is
essential that primary data is collected, analysed, evaluated and recorded
by the course participant in his or her project report. Plagiarism will NOT
be tolerated! If caught, zero marks will be given
The course lectures, discussions etc. will be conducted exclusively in
english! The use of Urdu language in this course is strongly discouraged
Specific questions on the subject of research methodology may be asked
from candidates in the Viva oral examination at the end of their MBA
programme. Failure to answer these questions will definitely result in a
deduction of examination marks
Important Information for Course Participants
– (2)
8. Course Highlights
8
Introduction to research
methodology
Research Terminology and the
Scientific Method
Designing and implementing a
research project
Ethics in Research
Types of Research
Measurements in Research
• Primary and Secondary Data
• Analyzing primary and
secondary data (quantitative
techniques)
• Communicating Research
Results
• Undertaking Research Project by
the course participants
9. Use of Multimedia Visual Aids in this
Course
9
All MS PowerPoint course presentation slides, the
course outline, quizzes, the two sessionals and final
examination (after completion ) supporting☺
eDocument files and the course participants’ project
reports will be uploaded to the yahoo webgroup CIIT –
Research Methodology, from where they will be
accessible via Internet to all course participants and
any other scholars or persons in Pakistan or overseas
who are interested in this CIIT – Research
Methodology course
10. What is Business Research?
10
Business Research may be defined as the
“systematic and objective process of gathering,
recording and analyzing data for aid in making
business decisions” (Zikmund, Business Research
Methods, 2002, p. 6)
Systematicness and Objectivity are its
distinguishing features of Business Research,
which is important tool for managers and
decision-makers in corporate and non-
corporate organizations
11. When is Business Research Used?
11
Typically, business research methods are used in
situations of uncertainty, that is, when decision-
makers face two or more courses of action and
seek to select the best possible alternative under
the circumstances. Business Research is hence
aimed at improving the quality of decision-
making which, in turn, benefits the organization
and helps ensure its continuity and efficiency
12. Business Research
Research information is neither intuitive nor
haphazardly gathered.
Literally, research (re-search) -“search again”
Business research must be objective
Detached and impersonal rather than biased
It facilitates the managerial decision process for
all aspects of a business.
14. Typical Users of Business Research
Methods
14
Businesses and Corporations
Public-Sector Agencies
Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants
15. “It ain’t the things we don’t know that gets us in
trouble. It’s the things we know that ain’t so.”
Artemus Ward
16. Common Business Research Methods &
Techniques
16
Surveys
Interviews
Observation
Experiments
Archival and Historical Data
Qualitative Analysis
Quantitative Analysis
17. Fields Where Business Research is Often Used –
(1)
17
General Business Conditions and
Corporate Research
Short- & Long-Range Forecasting,
Business and Industry Trends
Global Environments
Inflation and Pricing
Plant and Warehouse Location
Acquisitions
Financial and Accounting Research
Forecasts of financial interest rate
trends,
Stock,bond and commodity value
predictions
capital formation alternatives
mergers and acquisitions
risk-return trade-offs
portfolio analysis
impact of taxes
research on financial institutions
expected rate of return
capital asset pricing models
credit risk
cost analysis
Management and Organizational
Behaviour Research
• Total Quality Management
• Morale and Job Satisfaction
• Leadership Style
• Employee Productivity
• Organizational Effectiveness
• Structural ssues
• Absenteeism and turnover
• Organizational Climate
18. Fields Where Business Research is Often Used –
(2)
18
Sales and Marketing Research
Market Potentials
Market Share
Market segmentation
Market characteristics
Sales Analysis
Establishment of sales quotas
Distribution channels
New product concepts
Test markets
Advertising research
Buyer behaviour
Customer satisfaction
Website visitation rates
Information Systems Research
Knowledge and information needs
assessment
Computer information system use and
evaluation
Technical suppot satisfaction
Database analysis
Data mining
Enterprise resource planning systems
Customer relationship management
systems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and
promotion
Sex, age and racial discrimination /
worker equity
Social values and ethics
19. Selected Examples of Real-Life Situations in
Which Business Research Methods are Used
19
A firm wants to produce and market a new product but first wants to
ascertain if there is a potential consumer demand for this product in markets
x,y and z
a multinational firm wants to establish a production facility in another
country after determining its technical and economic feasibility
A government agency wants to ascertain the satisfaction level of its
employees, the causes for any possible discontent, and propose a scheme for
enhancing this level
A financial institution wants to invest in commodities and commissions a
study to determine the past trends and forecast future returns in a portfolio
of commodities
The CEO of a firm wants to undertake a SWOT-Analysis as part of his plan to
redefine his organization’s priorities
21. Basic Research
Attempts to expand the limits of knowledge.
Not directly involved in the solution to a
pragmatic problem.
22. 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?
Do consumers experience cognitive dissonance in
low-involvement situations?
23. "The secret of success is to know something nobody
else knows. "
Aristotle Onassis
25. Applied Research Examples
Should McDonalds add Italian pasta dinners to
its menu?
Business research told McDonald’s it should not?
Should Procter & Gamble add a high-priced home
teeth bleaching kit to its product line?
Research showed Crest Whitestrips would sell
well at a retail price of $44
26. Basic and Applied Research
26
Basic Research aims to expand the frontiers of science and knowledge
by verifying or disproving the acceptability of a given theory or
attempting to discover more about a certain concept (non-specificity)
Example: How does motivation affect employee performance?
Applied Research focusses on a real-life problem or situation with a
view to helping reach a decision how to deal with it (Specificity)
Example: Should Corporation X adopt a paperless office environment?
27. Science and the Scientific Method
27
Science has been defined as “the methodological and
systematic approach to acquisition of new knowledge”
(Geoffrey Marcyzk, David DeMatteo, David Festinger, Essentials of
Research Design and Methodology, John Wiley & Sons, 2005, p. 4)
The scientific method, which has evolved since the 13th
century, concerns the set of tools, techniques and
procedures used by basic and applied researchers to
analyze and understand phenomena and prove or
disprove prior conceptions
28. The Essence of the Scientific Method
28
Characteristics of the Scientific Method
Objectivity
Systematic Analysis
Logical Interpretation of Results
Elements of the
Scientific Method
Empirical Approach
Observations
Questions
Hypotheses
Experiments
Analysis
Conclusion
Replication
Basic
Research
Applied
Research
Scientific
Method
Information or
Ideas for alternative
Courses of action
General Laws
29. Scientific Method
The analysis and interpretation of empirical
evidence (facts from observation or
experimentation) to confirm or disprove prior
conceptions.
30. The Decision-making Process
Associated with the Development
and Implementation of a Strategy
Identifying problems and opportunities
Diagnosis and assessment
Selecting and implementing a course of action
Evaluating the course of action
31. Evaluation Research
Evaluation research is the formal, objective
measurement and appraisal of the extent to which
a given activity, project, or program has achieved
its objectives.
32. Performance-monitoring Research
Research that regularly provides feedback for
evaluation and control
Indicates things are or are not going as planned
Research may be required to explain why
something “went wrong”
33. Total Quality Management (TQM)
A business philosophy that embodies the belief
that the management process must focus on
integrating customer-driven quality throughout
the organization.
34. TQM
Stresses continuous improvement of product
quality and service.
Managers improve durability and enhance
features as the product ages.
Managers strive to improve delivery and other
services to keep their companies competitive
35. The Value of Business Research for Managers – (1)
35
Reduction of uncertainty and improvement in
the quality of decision-making with several
consequent advantages (e.g. strategic,
operational) and benefits for organizations
Business Research Methods can be employed in
each of the following four stages:
(1) Identification of problems and/or opportunities
Useful for strategy planning, analysis of internal and
external organizational environment
36. The Value of Business Research for Managers –
(2)
36
(2) Diagnosing and Assessment of problems and/or
opportunities
Its purpose is to gain insight into the underlying
reasons and causes for the situation. If there is a
problem, it asks what happened and why? If there is
an opportunity, it seeks to explore, clarify and refine
the nature of the opportunity and, in the case of
multiple opportunities, seeks to set priorities
(3) Selection and Implementation of Courses of Action
After alternative courses of action have been
determined, selection of the best possible course.
37. The Value of Business Research for Managers –
(3)
37
An important consideration is the quality of
forecasting which is an essential tool of research
(4) Evaluating the Course of Action
Business Research Methods are used after a course
of action has been implemented in order to
determine whether activities have been properly
implemented and have accomplished what they
intended to do
38. The Value of Business Research for Managers –
(4)
38
Evaluation Research – It is the formal objective
measurement and evaluation of the extent which an
activity, project or programme has achieved its goal, and
the factors which influence performance (e.g. audits). It
is also the formal objective measurement and evaluation
of the extent to which on-going activities, projects or
programmes are meeting their goals (performance-
monitoring research)
Examples of performance-monitoring research:
(1) Are railway passengers satisfied with the level of
service the railway company is providing? If not, then
research may need to be undertaken to ascertain the
reasons for customer dissatisfaction and propose
corrective measures
39. The Value of Business Research for Managers –
(5)
39
(2) What are the trends in retail and wholesale sector?
Can research suggest new ways to improve efficiency
in purchase transactions?
40. Is sufficient
time
available
before
a managerial
decision
must be made?
Is the
information
already
on hand
inadequate
for making
the decision?
Is
the decision
of
considerable
strategic
or tactical
importance?
Does the
Value of the
research
information
exceed the
cost
of conducting
research?
Conduct
Business
Research
Do Not Conduct Business Research
Time
Constraints
Availability
of Data
Nature of the
Decision
Benefits
vs. Costs
Yes YesYesYes
No
When to Conduct Business Research
No No No
42. Value
•Decreased certainty
•Increased likelihood of a
correct decision
•Improved business
performance and resulting
higher profits
•Higher Profits
•Better Reputation
Costs
COST
•Research expenditures
•Delay of business decision
•Possible disclosure of
information to rivals
•Possible erroneous
research results
Value Should Exceed Estimated Costs
43. 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
44. Cross-functional Teams
Cross-functional teams are composed of
individuals from various organizational
departments such as engineering, production,
finance, and marketing who share a common
purpose.
45. The Building Blocks of Research
45
Measurements of phenomena
(e.g. sales statistics of a department store)
Determination of relationship amongst data
with a view to facilitating understanding of the
phenomena, their relationships and decision-making
(e.g. past and predicted future sales trends)
Blend of information, experience and in-sights
That provides a framework that can be
thoughtfully evaluated when assessing new
information or evaluating relevant situations
KNOWLEDGE
INFORMATION
DATA
46. Demands on Data & Information
46
Relevance to the problem or situation at hand
Must be available in a timely manner to the right person (manager or
decision-maker)
Completeness
Accuracy
Accessibility
Affordability
Integrateability into a broader global information or decision-support
system
47. Business Research in the International
Context
47
Business Research is being increasingly applied in an
international context in the wake of globalization and
the consequent freedom of movement of the resources
of labour, capital and information of businesses and
corporations:
Overseas market potential & Market knowledge is
essential
Joint ventures and relocating production lines
overseas
Framework considerations for investment and trade
(e.g. culture, legal environment, security, physical
infrastructure, availability and quality of human
resources, logistics, political stability, trade and
investment incentives)
A.C. Nielsen - more that 67% international business
48. Global Business Research
General information about country - economic
conditions and political climate
Cultural and consumer factors
Market and competitive conditions - demand
estimation
49. 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.
51. Global Information Support Systems
51
A Global Information System may be defined as “ an
organized collection of computer hardware,
communication equipment, software, data, and
personnel designed to capture, store, update, manipulate,
analyze, and immediately display information about
worldwide business activities”
A Global Information System is a tool for providing past,
current and projected information on internal operations
and external activity. It organizes and integrates data
from production, operations, marketing, finance,
accounting and other business functions
(Zikmund, p. 22)
52. Decision-Support System
52
A computer-based system that helps decision makers
confront problems through direct interaction with
databases and analytical software programs
The purpose of a decision support system is to store
data and transform them into organized information
that is easily accessible to decision-makers
Decision-Support Systems are integrated in Global
Information Systems. They are aimed usually for
assisting managers and decision-makers in specific
organizational business units (e.g. divisions,
departments and functional areas) by providing
organized and adaptable information
53. Databases & Software
53
Databases are collections of raw data which have been
arranged in a logical manner and which can be stored and
processed electronically
Software are programmes that allow complex operations
to be undertaken on data and which give information for
managers and decision-makers
Data Warehousing & Data Mining
54. Data and Information Sources for Business
Researchers – (1)
54
Internal Records
Example: Data about costs, shipments, inventory, sales, and other aspects of
regular operations which are collected from various functional areas of an
organization
Proprietary Business Research
Example: New data and information from projects which are undertaken ad
hoc to study specific company problems
Business intelligence Systems
Example: Information about nonrecurring developments in the external
business environment stemming from a network of sources and regular
procedures
55. Data and Information Sources for Business
Researchers – (2)
55
On-Line Databases
Examples: PROQUEST, INFOTRAC, DIALOG, LEXIS-NEXIS, Dow Jones
News Retrieval Services, CompuStat
Internet
Examples: World Wide Web search engines (Google, Yahoo, Altavista, Lycos,
Excite etc.)
All Other Sources
Examples: Research Institutions, Libraries, Books, Journals, Periodicals,
Newspapers, Chambers of Commerce and Industry
56. Business Research in the 21st
Century
Increased globalization
Growth of the Internet and other information
technologies
57. Data and Information Sources for Business
Researchers (Pakistan)
57
Federal and provincial ministries of commerce, industries and production
Federal, provincial and city Chambers of Commerce and Industry
State Bank of Pakistan, Pakistan Banking Council, local and foreign banking
institutions
Stock Exchanges
National Investment Board
Export Promotion Bureau
Manufacturers, Traders and Exporters Associations
Research Institutes (e.g. Pakistan Institute of Development Economics)
Newspapers and Magazines (e.g. Business Recorder, Pakistan and Gulf
Economist)
Business and Trade Directories
Internet (e.g.: www.forexpk.com)
