BUSINESS RESEARCH METHODS Unit 1

Types of Research & Building Blocks of Science in Research

Dr. THULASI KRISHNA. K, Ph.D.

Dept. of Management Studies,

MITS, Madanapalle, A.P.

TYPES OF RESEARCH

• Applied Research (Action Research)

It helps to solve a current problem faced by the manager in the work setting,

demanding a timely solution.

Ex.: Research to identify social, economic or political trends

• Basic Research (Fundamental, Pure)

It helps to generate a body of knowledge by trying to comprehend how

certain problems that occur in organizations can be solved. The findings of

such research contribute to the building of knowledge in the various

functional areas of business. Ex: Research studies concentrating on

examining the financial statements, determining likely mergers and

acquisitions, analysing the market competition

• Descriptive research

It includes surveys and fact-finding enquiries of different kinds. The major purpose of descriptive research

is description of the state of affairs as it exists at present.

Ex: Frequencies of shopping, preferences of people

Analytical Research

In Analytical research one has to use facts or information already available and analyse these to

make a critical evaluation of the material.

Examining the fluctuations of U. S. International Trade Balance is a descriptive research and explaining why and

how U.S. Trade Balance moved is an analytical research.

• Quantitative Research

Quantitative research is applicable to phenomena that are measurable so that they can beexpressed in terms of quantity.

Ex: Survey that concludes that the patient has to wait for an average time of two hours in thewaiting room of a certain doctor before being treated is an example of quantitative research.

Qualitative Research

• Qualitative research is concerned with qualitative phenomenon. Research designed to find outhow people feel or what they think about a particular subject is a qualitative research.

• Qualitative research is especially important in the behavioural sciences where the aim is todiscover underlying motives of human behaviour

Conceptual Research

• Conceptual research is that related to some abstract ideas or theory. It

is generally used by philosophers and thinkers to develop new concepts

or to interpret existing ones.

Empirical Research

Empirical research relies on experience or observation alone. It is data

based research coming up with conclusions capable of being verified by

observation or experiment.

Exploratory Research

• It is an examination into a subject in an attempt to gain further insight.

• It is a type of research conducted for a problem that has not been clearly

defined. Exploratory research helps determine the best research design,

data collection method and selection of subjects.

Why is it important for managers to know about research?

• Solve problems

• Decision making tool

• Competition

• Risk

• Investment

• Hire researchers and consultants more effectively

Scientific Investigation [Building Blocks of Science in Research]

• 1 Observation

• 2 Identification of problem area

• 3 Theoretical framework

• 4 Hypotheses

• 5 Research design

• 6 Data collection

• 7 Data analysis

• 8 Data interpretation

• 9 Implementation

Basis of Scientific Method

The scientific method is based on certain elements which are mentionedbelow-

• i. Reliance on empirical evidence

• ii. Use of relevant concept [Ex. Education]

• iii. Verifiability

• iv. Generalisation

• v. Logical reasoning process [Induction and Deduction]

• THANK YOU