Value Proposition canvas- Customer needs and pains
Abdm4064 week 01 intro
1. ABDM4064 BUSINESS RESEARCH
The Nature of Business &
The Nature of Business &
Management Research
Management Research
by
Stephen Ong
Principal Lecturer (Specialist)
Visiting Professor, Shenzhen
2. Topics of Discussion
Introduction to Research
What is Research?
Research and Business
Business Managers and Research
Approach to Business Research
3. What is Research?
Robert has Developed ‘Protein-based Computer
Memories”.
“Many agree that any kind of Malaria Vaccine is not
perfect”.
“Government (Malaysian) will amend the Companies
Act soon to enhance Corporate Governance”.
“US FDI shifts to service-Based Business (in
Malaysia)”.
“Global Oil Production Up 185000 bpd in November
2002”
4. What Research Is Not
Research isn’t information gathering:
Gathering information from resources such books
or magazines isn’t research.
No contribution to new knowledge.
Research isn’t the transportation of facts:
Merely transporting facts from one resource to
another doesn’t constitute research.
No contribution to new knowledge although this
might make existing knowledge more accessible.
5. What Research Is
Research is:
“…the systematic process of collecting
and analyzing information (data) in
order to increase our understanding of
the phenomenon about which we are
concerned or interested.”
6. Research
Research is the way of thinking, examining
critically the various aspects of your
profession, understanding and formulating
guiding principles that govern a particular
procedure and developing and testing new
theories for the enhancement of your
profession. It is a habit of questioning about
what you do and empirical examination to
find answers, with a view to instituting
appropriate changes for a more effective
professional services.
7. Business Research Defined
Business research is defined as the
systematic and objective process of
generating information for solving a
problem or finding solution to a
complex issue (aid in making
business decisions).
8. Business Research
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.
9. Objectives of Business
Research
To extends knowledge
To discovered new information
Theory building
To verify and test existing facts and theory
To analysis inter-relationships between
variables
Aims to find solution to current problem
In total, to make more effective professional
services
10. Types/Classifications of
Research
The research can be classified from
three perspectives:
Application
Basic or pure and applied research
Objectives
Exploratory, Descriptive, or explanatory
(causal, hypothesis testing)
Type of information
Qualitative and quantitative
11. Figure 1.1 Basic and applied research
Sources: Authors’ experience; Easterby-Smith et al. (2008), Hedrick et al. (1993)
12. Types of Research
(Basic)
Basic Research
Generating scientific knowledge for future use
(Common use). It also known as pure or
fundamental research. Basic research is
undertaken for the sake of knowledge without any
intention to apply it in practice. It is undertaken
out of intellectual curiosity. It may lead to
discovery of new theory or refinement of an
existing theory. The findings or basic research
enrich the storehouse of knowledge that can be
drawn upon in future to formulate significant
practical research.
13. Types of Research
(Applied)
Applied Research:
Applied research is carried on to find
solution to a real life problem oriented and
action directed. It seeks an immediate and
practical results. However, it may
indirectly contribute to the development of
theoretical knowledge by leading to a
discovery of new facts or testing of a
theory or to conceptual clarity.
14. Basic Research
Attempts to expand the limits of
knowledge.
Not directly involved in the solution to
a practical problem.
15. Basic Research Example
Is executive success correlated with
high need for achievement?
Coupons versus rebates as demand
stimulation tactics
Compensation Systems and Labour
Productivity
Factors determining share prices
16. Applied Research
Conducted when a decision must be
made about a specific real-life problem
17. 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 White
strips would sell well at a retail
price of RM44
18. Basic Differences Between
Basic and Applied Research
Applied Research Basic Research
“what is the problem” is Problem based on the
an important step in researcher interest to
resolving that problem. explain and
What problems to understanding of the
analysis may be outside subject
the individual researcher Selection of the problem
domain is totally the choice of
Researcher role is the researcher
examine analytically and Some value judgment
a course of action may be made, action is
recommended not recommended
19. Exploratory Research
It is undertaken to find out ‘what is
happening, to seek insights, to ask
question and to assess phenomena in
a new light. It is useful if you wish to
clarify your understanding of a
problem. This is carried out to
investigate the possibilities of
undertaking a particular research
study.
20. Descriptive Research
Attempts to describe systematically a
situation, problem, phenomenon,
progamme or provide information
about living conditions, or describes
attitudes towards an issue.
21. Correlation Research
Discover the relationship/ association /
interdependence between two or more
variables or situations.
22. Explanatory Research
Study and explain the exact
relationship between two or more
variables.
23. Research and Business
Primary objective is to provide
information that improves the decision-
making process of an organization.
These information reduce managerial
uncertainty in each stages of
development and implementation of a
strategy.
24. Business Managers and
Research
Nestlé's Regional Revamp.
Debt-restructuring exercise helps
put water-meter Manufacturer back
on its feet.
Inproser Bhd claims its product
can help poultry farmers slash
cost.
“Celcom – TM Touch Merges”.
25. 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
26. Determining When to Conduct
Business Research
Time constraints
Availability of data
Nature of the decision
Benefits versus costs
27. Determining When to Conduct
Business Research
Availability of Benefits
Time Constraints Data Nature of the Decision vs. Costs
Is the infor- Does the value
Is sufficient time Is the decision Conducting
Yes mation already Yes Yes of the research Yes
available before of considerable
a managerial
on hand
strategic
information Business
inadequate exceed the cost
decision
for making
or tactical
of conducting Research
must be made? importance?
the decision? research?
No No No No
Do Not Conduct Business Research
28. Value versus Costs
Potential Value of a Business
Research Effort Should Exceed Its
Estimated Costs
29. Value Should Exceed
Estimated Costs
Costs
Value •Research
expenditures
•Decreased •Delay of business
uncertainty decision and
•Increased likelihood
possible disclosure
of a correct decision of information to
•Improved business
rivals
performance and •Possible erroneous
resulting higher research results
profits
30. Why should a Manager Know
Research?
Facilitate good decision making
Become discriminating about research
findings
Issues of inside versus outside
researcher
To share relevant information with
researcher
Understand complex issues, variables,
calculate risk, probabilities, etc.
31. Internal Researcher
Advantages:
Better acceptance from the staff
Knowledge about the organization
Would be integral part of implementation and
evaluation of the research recommendations
Limitations:
Less fresh ideas
Power Politics
May not be valued as experts by staff
32. External Researcher
Advantages:
Divergent and convergent thinking
Experience from several situations
Better technical training
Limitations:
Time to understand the organizational system
Cooperation from the staffs is not easy
Leakage of business secretes
Not available for evaluation after implementation
cost
33. Approach to Business
Research
Scientific Research
Characteristics of Scientific Research
Process of Scientific Reasoning
Hypothetico-deductive Method
Case Study
Action Research
34. Characteristics of Scientific
Research
Purposive
Rigor
Testability
Replicability
Precision and Confidence
Objectivity
Parsimony
35. Scientific Approach and
Business Research
It is not always possible to conduct
investigation 100 percent scientific in business
research. Unlike the physical sciences, the
results obtained will not be exact and error free,
since most of the business research deals with
human behavior. It is very difficult to measure
and collect of subjective information like,
feelings, emotions, attitudes and etc. Hence, it
may not possible for comparability, consistency
and wide generalizability in most of the
business research.
36. Logical Reasoning Process
Induction
The inductive method consists of studying
several individual cases and drawing a
generalization. It involves two process –
observation and generalization. Conclusions from
induction are tentative inferences and they are
subject to further conformation based on more
evidence.
Deduction
Deduction is reasoning process of applying a
general accepted principle to a specific individual
case falling under the general principle.
37. Induction
Form of reasoning – bottom up
Theory
Tentative
Hypothesis or
proposition
Identifying
Patterns
Observations
Measures
38. Induction Method
Example: “Advertising Expenditure
and Sales”
Observe the facts, collect relevant
data, then look for the pattern or
summarize the observation and
finally tentative conclusions.
When followed: When new facts are
studied, new truth are uncovered.
39. Deduction
Top down reasoning
Theory
Hypothesis
To test
Observations to address
the hypothesis
Test the hypothesis with specific data
Confirm/or disconfirm
the original hypothesis
40. Deductive Method
Reasoning form the general to the particular
Like: All Men are mortal
“A” is a man
Conclusion: “A” is mortal
Example: “Advertising Expenditure and Sales”
Hypothesis: “There is a positive relationship
between expenditure on advertising and sales
revenue”
Make Observation
Accept or reject hypothesis.
41. Hypothetico-deductive
Method
The method of starting with a
theoretical framework, formulating
hypotheses and logically deducing
from the results of the study is known
as the hypothetico-deductive method.
This method is much popular in
business research. This method
involves seven important steps.
42. Process in Hypothetico-
deductive Method
Observation
Preliminary information gathering
Theory formulation
Hypothesizing
Data collection
Data Analysis
Deduction
43. Case Study
It examine complex factors involved in a given
situation so as to identify causal factors operating
in it. A case study aims at studying everything
about something rather than something about
everything, as in the case of a statistical method
or quantitative analysis. In quantitative analysis,
‘individual’ disappears and in the case of case
study ‘individual’ representing the wholeness.
Example: A Study of Labour Participation in Management in a
particular Enterprise
A Study of life-style of Working Women.
Suitability: This flexible method provide much information
about the unit of analysis. However, it has limited use in
business research due to its limited generalization and
it is a time consuming method of research.
44. Action Research
It is a type of evaluation study. It is a
concurrent evaluation study of an action
programme launched to solve a problem or
to improve an existing situation. It consists
of a number of phases, like, base-line survey,
systematic action and assessment. It is a
concurrent evaluation study of an action
programme launched for solving a
problem/for improving an existing situation.
46. Figure 1.1 A simple concept map showing representation of competitive advantage
Source: Institute for Manufacturing (www.ifm.eng.cam.ac.uk/csp/news/05april/4.html)
1 - 46
47. Figure 1.2 Grand, middle-range and substantive theories
Source: Saunders et al. (2009), developed from Creswell (2008)
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49. How Creative Are You?
Hundred O
Chun Hundred R
Chun Hundred H E Umph Umph Umph Grace.
Chun Hundred S W Of the Spirit
Chun Hundred S
Stand S Media
Scholar I
Intensity
2 1111 STO CK THEBLUEFACE S H E E T
Objection W E B Roll Roll Tomb of 210,N
Ruled Roy Roy
2 - 49
50. Brainstorming Guidelines
Keep the group small – “Two pizza rule.”
Make the group as diverse as possible.
Emphasize that company rank is
irrelevant.
Have a well-defined problem, but don’t
reveal it ahead of time.
Limit the session to 40 to 60 minutes.
Take a field trip.
Appoint a recorder.
2 - 50
51. Brainstorming Guidelines
Use a seating pattern that encourages
interaction.
Throw logic out the window.
Encourage all ideas from the team.
Shoot for quantity of ideas over quality of
ideas.
Forbid criticism.
Encourage idea “hitch-hiking.”
Dare to imagine the unreasonable.
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52. Further Reading
ZIKMUND, W.G., BABIN, B.J., CARR, J.C.
AND GRIFFIN, M. (2010) BUSINESS
RESEARCH METHODS, 8TH EDN, SOUTH-
WESTERN
SAUNDERS, M., LEWIS, P. AND
THORNHILL, A. (2012) RESEARCH
METHODS FOR BUSINESS STUDENTS, 6TH
EDN, PRENTICE HALL.
SAUNDERS, M. AND LEWIS, P. (2012)
DOING RESEARCH IN BUSINESS &
MANAGEMENT, FT PRENTICE HALL.
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53. How Creative Are You?
ANSWERS
Fortune 500 Scattered Triumph of the Grace Period
Showers Spirit
Rhodes Scholar I Understand Spring Break Media Bias
Two for One Blue in the Face High Intensity Spreadsheet
Stock Split
Objection Web Links Rolls Royce Tomb of
Overruled Tutankhamen
2 - 53
Notas del editor
This "Deco" border was drawn on the Slide master using PowerPoint's Rectangle and Line tools. A smaller version was placed on the Notes Master by selecting all of the elements (using Select All from the Edit menu), deselecting the unwanted elements such as the Title (holding down the Shift key and clicking on the unwanted elements), and then using Paste as Picture from the Edit menu to place the border on the Notes Master. After pasting as a picture, we used the resize handles (with Shift to maintain the proportions) to reduce it to the size you see. Be sure to delete this word processing box before using this template for your own presentation.
While both of these are tools used during research, they are not sufficient for research.