unit 1_into to business research

8/13/2019 Unit 1_Into to Business Research

1/46

Unit 1

This unit is divided into two parts:

1. Introduction to Business Research

2. Ethics in Business Research


2/46

INTRODUCTION TO BUSINESS RESEARCH

Intro to Bus. Research Teena Y. Sharma 2


3/46

Some popular Definitions: Research in common parlance refers to a search for

knowledge.

Research is a purposive investigation.

Redman and Mory defined research as a SystematizedEffort to gain New Knowledge

Research is the pursuit of truth with the help of

study, observation , comparison and experiment. Research is thus, an original contribution to the

existing stock of knowledge making for itsadvancement.

3Intro to Bus. Research Teena Y. Sharma


4/46

Finally We all poses a vital instinct of inquisitiveness , for the

unknown.

When this unknown confronts us, we start wondering, and

our inquisitiveness, forces us to know the unknown. Hence, whatever we employ to know the unknown is

known as Research

As such, the term Research refers to systematic method,consisting of, enunciating a problem, formulating ahypothesis, collecting facts or data, analyzing these facts,and thus reaching to a solution.



5/46

Objectives of Research The major objectives of Research are:-

To gain familiarity with a phenomenon or to achieve new insight into it. E.g.: To know more about the phenomenon of Photosynthesis, or phenomenon of

Phosphorescence. To find out the truth which is hidden and which has not been

discovered yet. E.g.: Newton discovered about Gravity.

To test a hypothesis of a causal relationship between variables(hypothesis testing) E.g.: Time is inversely proportional to frequency(T=1/f)

To portray accurately the characteristics of a particular individual,situation or a group. E.g.: What happens when we rub our hands together, friction occurs, and chargeis generated.

To determine the frequency with which a particular event occurs, or theway it is associated with something else. E.g.: How many times a wheel rotates , when the car is running at the speed of

80kmph



6/46

Objectives of Research contd..Apart from the earlier mentioned objectives, research

it is also used for the following:-

To extend, verify or correct knowledge i.e. answeringquestions like What, When, Where, How, Why?

E.g.: Why does the car stops when breaks are applied?

To generate laws, theories etc, thereby contributing tothe human race.

E.g.: Newton's Laws of Motion, Pythagoras Theorem etc.

Lastly, Research enables us to have a betterunderstanding of the world.



7/46

Motivation in Research By motivation, here we mean, the reason which

enunciated research, or the stimuli which madesomeone to take up research in a field. Some of them

are:- Directives of the Government and Organizations

Curiosity about new things

Desire to understand causal relationship

Social thinking, awakening Employment and economic conditions

Desire to get respect in the society

Desire to get intellectual joy of creativity



8/46

Importance of Research In modern times, Research has its contribution to various fields like science,

business, commerce, industry in the following ways: New Knowledge: Research is conducted with the objective of acquiring new

knowledge from the unknown fields. Research helps to add knowledge. For e.g.Late. Mr. Steve Jobs introduced so many machines to the world.

Development of Science: Research is important for the development of aparticular science. For e.g. development of commerce will result of Trade,Business, various other business management activities.

Acts as a basis for Government Policies: Research acts as a basis for manygovernment policies. For E.g. before presenting the budget in the parliament, alot of research is done about the needs, desires and opinions of public and alsothe available funds.

Control over Unhealthy Trends: Research provides correct idea aboutunhealthy social trends. For e.g. When it was found that girls can do equallywell as boys in all fields, female feticide was reduced to some extent.

Remedial Measures: Research may provide some solution to a given problem.For e.g. Marketing Research helps in development of market, using variousanalytical, mathematical techniques and studying the consumer behavior.



9/46

Importance of Research to

Business Research is important in any business for it to stay competitive in the

market by:- The foremost function of research is to provide a business with an

outlet to accurately identify its customers. Through the surveys, acompany can analyze the likes and dislikes of its target consumers.

In addition to this, these studies can also give a business theopportunity to scrutinize its rivals in the industry and analyze andemulate key strategies that might likewise help in its operations.

Finally, research provides a business with a chance to update itself onthe latest market trends; such knowledge will prove helpful in theformulating of useful concepts and tactics for success in the market.

All things considered, it is through research that a business is able tomake educated and informed decisions.

So if you own or manage a commercial venture, do not fail to take fulladvantage of the benefits of industry research.



10/46

Types of Research Research can be classified into various classes. These

classes are not like watertight compartments. Therecan be certain amount of overlap between these

classifications. The following are the various ways in which Researchcan be classified: Descriptive Research v/s Analytical Research Applied Research v/s Fundamental or Basic Research Quantitative Research v/s Qualitative Research Empirical Research v/s Conceptual Research Exploratory or Formulative Research Diagnostic Research



11/46

Descriptive Research Descriptive research includes fact-finding enquiries of different kinds,

by reviewing some written text/internet/or any other form of data. The major purpose of descriptive research is description of a state of

affairs as it exists at present.

The main characteristic of this method is that the researcher has nocontrol over the variables. He or she just makes observations. He can only report about what has happened or what is happening. A descriptive research involves study of simple statistical techniques

like averages and percentages, so that characteristics of an object orsituation can be described.

E.g.: What is the frequency of buying a particular product bycustomers, what are their preferences. Here , a researcher has nocontrol over the buying habits of consumers. He/she can just reportabout it using various kinds of surveys, questionnaires etc.



12/46

Analytical Research In Analytical Research, on the other hand, the researcher has to use

facts or information already available, and analyze these to make acritical evaluation of the subject or material.

An analytic paper demands that one perform many tasks: formulate a

thesis, gather sources, evaluate them, use them to support the originalideas, meticulously document everything done. It is extensively used to study relationships between variables. An Analytical study involves use of advanced statistical techniques like

corelation and multivariate analysis, in order to study the extent ofrelationships between variables.

One important thing in analytical research is that the findings of theresearch are solicited. E.g. : Writing a research paper about the Increased sales in the

automobile industry After sales support an important contributor



13/46

Applied ResearchApplied Research:- It aims at finding a solution for an

immediate problem facing a society or an industry

It is aimed at a particular solution or conclusion. Research to identify a particular social, economic or

political trend also come into this category.

It is an action-oriented research.

E.g.: Research done to defy the copy brands being soldin rural markets Sonsilkv/s Sunsilketc.

Here there is a problem because of the copy brand,hence the research is done to deal with the problem.



14/46

Basic Research Fundamental or Basic research is mainly concerned

with generalizations and with the formulation of atheory.

Gathering knowledge for knowledges sake is termedpureor basicresearch.

No application or commercial aspect is involved here.

The central aim here is to add more to the existingknowledge base.

E.g.: Studying topics apart from those mentioned inthe syllabus by a particular student.



15/46

Now . The forms these

researches can takeAll the types of researches discussed above can take

the following forms/ or can get converted into thefollowing types:

Qualitative

Quantitative



16/46

Quantitative Research Form A research becomes Quantitative research, when it is based

on the measurement of quantity or amount.

It can be applied to only those phenomenon which can be

expressed in terms of quantity. Hence, these methods collect only numerical data and

analyze it using statistical methods.

E.g.: Sales forecast etc.

This approach can be further classified into Inferential approach

Experimental approach

Simulation approach



17/46

Qualitative Research A research becomes Qualitative Research, when it is

concerned with qualitative phenomenon, that involvingquality or kind.

Quality which cannot be measured with numbers. For instance, when we are interested in investigating the

reasons for human behavior, we quite often talk ofMotivation Research, which is a kind of QualitativeResearch.

It involves collection of qualitative data such as text,images, sound etc.

E.g.: Looking for good tutorial notes on a particular topic.



18/46

One more type of research

Conceptual Research Conceptual research is that related to some abstract

idea or theory.

It is generally used by philosophers and thinkers todevelop new concepts or to reinterpret existing ones.

E.g.: Research in the field of Abstract Algebra by anymathematician



19/46

Concept of Empiricism In Philosophy, Empiricism is the theory of knowledge,

which asserts that knowledge arises from experience.

In short, empiricism denotes, information gained by

means of observation, experience or experimentation.

It is the central concept in science and scientific methods,asserting that all evidences must be empirical, that isdependent on evidence or consequence.

In statistics as well empirical quantities are thosequantities, those are computed from observed values,rather that those derived after some kind ofassumption/consideration.



20/46

The Empirical Cycle The Empirical cycle consists of the following stages:

Observation:The collection and Organization ofempirical facts.

Induction: Formulating a hypothesis.

Deduction:deducting consequences of hypothesis astestable predictions.

Testing: Testing of the hypothesis with new empiricalmaterial.

Evaluation:Evaluating the outcome of testing



21/46

Empirical Research Empirical Research methods can be divided into two

categories:

Quantitative Research

Qualitative Research



22/46

Approaches to Research Considering that almost all research is empirical in

nature,

There are two types of approaches to research, i.e. Quantitative approach and Qualitative approach.

The Quantitative approach be further classified intoinferential, experimental, simulation approach to

research. Qualitative approach to research is concerned with

subjective assessment of attitudes, opinions andbehavior.



23/46

Research Methods and Research

Methodologies It is important for us to understand the difference between

Research Methods and Research Methodologies.

Research Methods are those methods which are used for

the conduction of research. They refer to methods that a researcher use in performing

research operation.

All those methods which are used by researcher during the

course of studying his research problem are termed asresearch methods.

We can have various methods such as Case study method,analysis, observation etc.



24/46

Research Methods can be put into following threegroups:

Methods which are concerned with collection of data

Statistical techniques which are used to studyrelationship between the data items

Methods which are used to evaluate the accuracy ofresult obtained.



Methodologies


25/46

Research Methodology: It is a way of systematically solving a research problem. It is necessary for a researcher to know not only the methods but also the

methodology of research. It is necessary to know the various tests, statistical techniques like mean,

median, mode to test and establish relation between the data items. Moreover itis also important to know which of these methods are relevant or not.

They need to know the criteria by which they can decide, that a certaintechnique or procedure will be applicable to a certain problem and others willbe not.

All this means, a researcher needs to design his methodology for solving aproblem, which may be same or different from other problems.

Hence, we can say, Research Methodology has many dimensions and ResearchMethods are just one of them.

The scope of Research Methodology is wider than that of Research Method. While we talk of Research Methodology we talk about various aspects of

research like, which methods will be used for analysis, collection of data, whyonly these methods will be used, how a research has been defined, what is thehypothesis formed etc .



Methodologies


26/46

The Research ProcessResearch process consists of series of steps, necessary to

carry out effective research.



27/46

27

Stages in the Research Process

Intro to Bus. Research Teena Y. Sharma

Define a ResearchProblem

Review Conceptsand Theories

FormulateHypothesis

FormulateResearch Design

(including SampleDesign)

Collect Data

Organize the datain a meaningful

format

Analyze data

Interpret andReport

Review previousResearch Reviewing Literature

FF F


28/46

The Research Process The chart indicates that the research process consist of a number ofclosely related activities.

These activities may overlap continuously, rather than following astrictly prescribed sequence.

Usually a particular step determines the nature of the next step. One should remember that the various steps are not mutually

exclusive; nor they are separate and distinct. They do not always follow a strict sequence. The researcher has to constantly keep on anticipating at each step in

the process the requirements of the subsequent step.

Generally a basic research process consists of these steps: (1)Formulating the research problem (2) Extensive literature survey (3)Developing the hypothesis (4) Preparing the research design (5)Determining the sample design (6) Collecting the data (7) Execution ofthe project (8) Analysis of data (9) Hypothesis testing (10)Generalization and Interpretation (11) Report Preparation.



29/46

Research Process Stage 1: Formulating a Research Problem

There are two types of Research Problems Those which relate to states of nature

Those which relate to relationship between variables. At this stage, a researcher may decide the problem he wants

to study. That is he must decide the general area of interest.

Initially the problem may be stated in a broad general way,but then the ambiguities can be resolved, hence narrowing

the problem. Usually two steps are involved in formulating the problem:

Understanding the problem

Rephrasing the problem into meaningful terms.



30/46

Research Process Step 2: Extensive Literature Survey

Once the problem is formulated, the literature relatedto it, must be surveyed in order to gain understandingabout the problem.

This step also helps in rephrasing the problem ifrequired.

This also gives a direction to solve the problem, byusing previous findings.

At times, written literature is mandatory, like for Ph.Dthesis, synopsis before research is compulsory.



31/46

Research Process Stage 3: Development of Working hypothesis After literature survey, research hypothesis should be

formulated. It is a tentative assumption, made in order to test its logical and

empirical consequences. The role of hypothesis is to guide the researcher, by limiting area

of research and keep him on right track. Hence, the hypothesis must be very specific and limited only to

the area of research

Working hypothesis can be formulated thinking, reading,discussing about the research subject, examination of relatedmaterial, counseling with experts.

It gives a hint about the type of data to be used and the methodsto be used.



32/46

Research Process Stage 4:preparing the Research Design Once, the research problem has been formulated, the researcher now

needs to formulate the research design A Research Design is like a rough plan stating how the research would

be conducted, and comprises of various issues related to it. A research design comprises of following:

1. The type of research study to be conducted.1. Exploration2. Description3. Diagnosis

4. Experimentation2. The type of information/ data required for this.3. The sources of information/data.4. The method or technique of data collection.5. The time of data collection



33/46

Research Process Stage 5: Determining Sample Design

It is the selection of few items for the study.

Taking population/universe may lead to varied results.



34/46

Research Process: Types of

Sampling


Element SelectionTechnique

Probability Sampling Non-probabilitySampling

Unrestricted Sampling Simple Random Sampling Haphazard Sampling orConvenience Sampling

Restricted Sampling Complex RandomSampling ( ClusterSampling, SystematicSampling, StratifiedSampling)

Purposive Sampling( Quota Sampling,Judgment Sampling)


35/46

Research Process Stage 6: Collection of Data

Data are facts, figures and other relevant materials,past and present , serving as bases for study andanalysis.

Data is based on our senses, it is based on ourobservations.

Types of Data: Primary Data

Secondary Data



36/46

Research Process: Methods of Data

collection Primary data collection:

Observation

Experimentation

Simulation

Projective techniques

Interviewing



37/46

Research Process Step 7: Execution of the Project:

The research is conducted as per the research design.

The researcher must see that the project/research isconducted systematically and in time.

Step 8: Organizing the data

Data can be organized by: Coding

Editing

tabulating



38/46

Research Process Step 9: Analysis of data

The data, should now be analyzed using variousmathematical/ statistical tools.

Step 10: Hypothesis Testing

After analyzing the data, the researcher is in position to testthe hypothesis, which he had formulated earlier.

Various tests such as Chi-square test, t-test, F-test havebeen developed by researchers to test the hypothesis.

Hypothesis testing results in either accepting or rejecting thehypothesis.



39/46

Research Process Step 11: Generalization and Interpretation

If a hypothesis is tested and upheld several times, it maymake the researcher to arrive at a generalization.

This helps him in building the theory. Real value ofresearch lies in its ability to arrive at a generalization.

Step 12: Preparation of Report or Thesis Finally the researcher has to prepare a report about what

has been done by him.



40/46

Qualities of Good Research Good research is systematic: It means that research is

structured, with specific steps to be taken in a specificsequence, with a well defined set of rules.

Good research is logical: This implies that good researchis guided by the rules of logical reasoning. Logicalreasoning makes research more meaningful in the contextof decision making.

Good research is empirical: It implies that research isrelated to one or more aspects of real situation.

Good research is replicable: This characteristic allowresearch results to be verified by replicating the study.



41/46

ETHICS IN BUSINESS RESEARCH



42/46

42

Ethical Considerations in Business Research

Everyone Ethics & Morals

Rights to privacy of research

Deception in findings i.e. the findings of the research should

not be compromised. Complete confidentiality during the research process should

be maintained.

The data should not be altered to meet the desiredobjectives.

Biases in research should be avoided.

Compete confidentiality about the respondents informationshould be maintained.



43/46

43

Ethical Behavior Considerations:

Research Subjects / RespondentsTruthfulness in giving information to the researcher if a

research subject or respondent gives his or her consent toparticipate in a research study

Sustained cooperativeness with the researcher throughoutthe course of the research study

Adhere to responsibility if informed consent is given to theresearcher

State any constraints or limitations in advance



44/46

44


ResearchersNo deception, be forthright and do not conceal the true

purpose of the research

Maintain objectivity, courtesy and high professionalstandards through scientific process

No falsification, alteration or misrepresentation of data forpolitical or other purposes

Protect the confidentiality of the research subjects andresearch sponsors

No faulty conclusions

No inclusion or use of information or ideas contained incompeting research proposals



45/46

45


Research SponsorsNo request for submission of competitive bids by

researchers if selection of the researcher has already beenmade

Avoid manipulation and influencing of the researcher witha view to discrediting individuals or organizations

The conclusions drawn from research work should beconsistent with the data and not influenced by otherundesirable conditions or motives

Observe the confidentiality of the research subjects andresearcher

Avoid Advocacy Research



46/46

unit 1_into to business research

Documents