The document provides an introduction to business research. It defines business research as the systematic and objective process of generating information to aid business decisions [1-2]. The scope of business research helps decision-makers investigate problems objectively across different functional areas like finance, operations and marketing using similar research methods [1-3]. Research is classified based on its purpose, intended use, time dimension, and techniques [1-4]. Basic research expands knowledge while applied research solves real problems [1-5, 1-6, 1-7]. Research techniques include quantitative and qualitative methods [1-9]. Business research supports the managerial decision process and evaluation [1-11, 1-12]. Determining when
2. 1-2
•Business research is defined as the
systematic and objective process of
generating information for aid in
making business decisions.
•Including financial research,
operational research, Marketing
research
Business Research
3. 1-3
Scope of business research
Business research helps decision makers shift
from intuitive information gathering to
systematic and objective investigation.
While researchers in different functional areas
may investigate different phenomena, they are
comparable to one another because they use
similar research methods.
The scope of business research is limited by
one’s definition of “business”.
A broader definition of business includes not-
for-profit organization.
The term “Business Research” is utilized because
all its techniques are applicable to business
settings.
4. 1-4
Classification of research
Purpose of doing research
Intended uses of research
Time dimension of research
Research techniques
6. 1-6
Basic Research
Basic (Pure) Research attempts to
expand the limits of knowledge.
It is not directly involved in the
solution to a pragmatic problem.
The findings generally cannot be
immediately implemented.
Basic research is conducted to verify
the acceptability of a given theory or
to know more about a certain
concept.
7. 1-7
Applied Research
Conducted when a decision must be
made about a specific real-life
problem
They want to answer a policy
question or solve a pressing social ,
and economic problem
Types of applied research:
Action research
Impact assessment research
Evaluation research
8. 1-8
Time dimension in research
Cross sectional research:
In cross sectional research , researchers
observe at one point in time
Longitudinal research:
Researcher using longitudinal research
examine feature of people or other units at
more then one time
9. 1-9
Research techniques
Every researcher collect data using one or more techniques:
1.Quantitative
Collecting data in the form of numbers
Main techniques:
experiment
survey
content analysis
using existing statistic
2.Qualitative
Collecting data in the form of words or picture
Main technique:
field research
case study
focus group
10. 1-10
Scientific Method
The analysis and interpretation of empirical
evidence (facts from observation or
experimentation) to confirm or disprove prior
conceptions.
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Managerial value of business
research
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
12. 1-12
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.
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”
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Determining When to Conduct Business
Research
Time constraints
Availability of data
Nature of the decision
Benefits versus costs
Value versus Costs
Potential Value of a Business Research Effort
Should Exceed Its Estimated Costs
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Value
•Decreased certainty
•Increased likelihood
of a correct decision
•Improved business
performance and
resulting higher
profits
Costs
•Research
expenditures
•Delay of business
decision and
possible disclosure
of information to
rivals
•Possible erroneous
research results
Value Should Exceed Estimated Costs
15. 1-15
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