*RESEARCH METHODOLOGY(Business Research Methods)

*Demands on Course ParticipantsAcquisition and careful application of knowledgeAnalytical and critical thinking, innovation, inquisitivenessHolistic perspective

Quizzes &(proof that the course participant is familar with the essentialsSessionalsof 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

*Course HighlightsIntroduction 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

*What is Business Research?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)

System and Objectivity are its distinguishing features of Business Research, which is important tool for managers and decision-makers in corporate and non-corporate organizations

*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

When is Business Research Used?

*Typical Users of Business Research MethodsBusinesses and Corporations Public-Sector AgenciesConsulting FirmsResearch InstitutesNon-Governmental OrganizationsNon-Profit OrganizationsIndependent Researchers and Consultants

*Common Business Research Methods & TechniquesSurveysInterviewsObservationExperimentsArchival and Historical DataQualitative AnalysisQuantitative Analysis

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General Business Conditions andCorporate Research

Short- & Long-Range Forecasting, Business and Industry TrendsGlobal Environments Inflation and Pricing Plant and Warehouse Location AcquisitionsFinancial and Accounting Research

Forecasts of financial interest rate trends, Stock,bond and commodity value predictions capital formation alternativesmergers 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 analysisFields Where Business Research is Often Used (1)

Management and OrganizationalBehaviour Research

Total Quality ManagementMorale and Job SatisfactionLeadership StyleEmployee ProductivityOrganizational EffectivenessStructural ssuesAbsenteeism and turnoverOrganizational Climate

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Sales and Marketing Research

Market PotentialsMarket ShareMarket segmentationMarket characteristicsSales AnalysisEstablishment of sales quotasDistribution channelsNew product conceptsTest marketsAdvertising researchBuyer behaviourCustomer satisfactionWebsite visitation ratesInformation Systems Research

Knowledge and information needs assessmentComputer information system use and evaluationTechnical suppot satisfactionDatabase analysisData miningEnterprise resource planning systemsCustomer relationship management systems

Corporate Responsibility Research

Ecological ImpactLegal Constraints on advertising and promotionSex, age and racial discrimination / worker equitySocial values and ethics

Fields Where Business Research is Often Used (2)

*Selected Examples of Real-Life Situations in Which Business Research Methods are UsedA 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 feasibilityA government agency wants to ascertain the satisfaction level of its employees, the causes for any possible discontent, and propose a scheme for enhancing this levelA 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 organizations priorities

*Basic and Applied ResearchBasic 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?

*Science and the Scientific MethodScience 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

*The Essence of the Scientific MethodCharacteristics of the Scientific Method

ObjectivitySystematic AnalysisLogical Interpretation of ResultsElements of the Scientific Method

Empirical ApproachObservationsQuestionsHypothesesExperimentsAnalysisConclusionReplicationBasic ResearchApplied ResearchScientificMethodInformation or Ideas for alternativeCourses of action

General Laws

Features of Research: Basic and Applied Sources: Easterby-Smith et al. (2008); Hedrick et al. (1993)

What does systemically and to find out suggest? Systematic suggests that research is based on logical relationships and not just beliefs.

To find out things suggests multiplicity of possible purposes of research e.g. describing, explaining,understanding, criticizing, and analyzing

*The Value of Business Research for Managers (1)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:

Identification of problems and/or opportunitiesUseful for strategy planning, analysis of internal and external organizational environment

29 August 2005MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan*The Value of Business Research for Managers (2)(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.

MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

*The Value of Business Research for Managers (3)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

*The Value of Business Research for Managers (4)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:

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

*The Value of Business Research for Managers (5)What are the trends in retail and wholesale sector? Can research suggest new ways to improve efficiency in purchase transactions?

*When Should Business Research be Undertaken?Is sufficient timeavailable?Is information inadequate?High importance of decision?Research benefits greater than costs?YesYesYesUndertake Business ResearchNODo notundertake Business Research

*Value and Costs of Undertaking Business ResearchVALUE

Decreased UncertaintyHigher Likelihood of Correct DecisionsBetter Business performanceHigher Profits Better ReputationCOSTS

Research CostsDelay in Making Business DecisionsDisclosure of Information to RivalsPossibility of Error

*The Building Blocks of Research

Figure 1: Process of Research Steps wise

Source: Mark Saunders, Philip Lewis and Adrian Thornhill 2006Contd

Things to considerThe impact of your personal feelings and beliefs

Access to data

Time and other resources

Validity and reliability of the data

Ethical issues

Research Proposal Purpose

Determine what the researcher wants to do?

Why the research is important, convincing, and worth undertaking?

How the researcher wish to undertake it?

What benefit will result from the effort or attempt?

Elements of Research ProposalIntroduction to area and questions

Study objectives

Proposed research design

The setting of the study

Instruments planned to be used

Elements of Research ProposalA sample design and a sample size

Outline the proposed chapters for the dissertation

Study's problems, limitations and future areas of research

A proposed time frame

Figure 2: Research Onion