Business Research Basics

Nature & scope of BR Identification of Research Problem Statement of Research Objective & Hypothesis Formulation of Research Question Types of BR Process Research Design

What is Research?
Research is a scientific and systematic search for relevant information on a specific topic. It is a careful investigation or enquiry specially through search for knowledge. It is a movement from known to unknown.

Objectives of Research

To gain familiarity with a phenomenon to achieve new insights into it - Exploratory research. To portray accurately the characteristics of a particular individual, situation or a group - Descriptive research. To determine the frequency with which something occurs or with which it is associated with something else - Diagnostic research. To test a hypothesis of a causal relationship between variables hypothesis testing research

Scope of BR

It is used to solve the various operational & planning problems that arise in business organization which include problem related to marketing, finance, HR, & manufacturing.

Forms of BR
Market Research, Operational Research & Motivational Research

Market Research- It aims at understanding & examining the market place in which it operates & which helps the organization to devise business policies & marketing strategies . Operational Research- It uses the mathematical, logical & analytical methods to find optimal solutions to business problems & which is mainly used for demand forecasting, optimizing the production & the best investment options. Motivational Research- It analyzing the reasons & motives behind peoples behavior & which is used to understand the behavior of the employee & consumer.

Steps of BR

Problem/Opportunity Identification- It involves scanning & monitoring of internal & external business environment (opportunities & threats that a company is facing & understanding the market trends) Problem/Opportunity Prioritization & Selection1. Prioritize problems or opportunities 2. Select major problem or opportunities Problem/Opportunity Resolution1. Develop alternative course of action 2. Choose the best course of action

Implement the course of action

Problem Identification

Problems are identified based on the strengths, weaknesses, opportunities and threats encountered in the process of conducting day-to-day operation of the business. Problems are identified by the higher authority or management and researcher is being asked to conduct the research. Problems are identified by other agencies/organizations and research is asked to conduct the research following the objectives and scope of work as mentioned in the terms of reference.

Factors Affecting the BR

Conducting research systematically takes time. In many instances management concludes that, because a decision must be made immediately, there will be no time for Research.

Time

Resources
Lack of Financial & Human resources

Nature of Information Sought

If internal record exist then further research is a waste. Managers intuition or past records are enough.

Benefit verses cost

CVA is must in every research

Research Statement

A research statement is a summery of research achievements and a proposal for upcoming research. It often includes both current aims and findings, and future goals.

A typical research statement follows a typical pattern in regard to layout, and often includes features of other research documents including an abstract, research background and goals.

Research Objectives
Research Objectives is a continuation of the problem statement may be written in the form of a general objective which is GENERALLY STATED and RATHER WIDE, followed by the specific objectives which are more focused and direct

Characteristics of Research Objectives:

Characteristics of Research Objectives outline the scope of the research & give a picture of how to perform the investigation & also give an idea who would be the subjects of the research e.g.: To examine if there is a significant relationship between readiness for self-directed learning (SDL) and needs for language skills, perceived language competence, and teaching experience.

Research Questions
The research objectives being posed as questions or derivatives of the objectives being posed as questions. e.g.: OBJECTIVE: to identify the differences of positional strategies adopted by two major players in India.

Characteristics of Research Questions :

It should be significant to be studied and would add knowledge to the body of knowledge. It should be ethical (would not cause physical and psychological injury to anyone, or to the environment). It should be feasible (could be studied and would not take too much time, energy, and cost). It should be clear (most researchers would agree to the meaning of key descriptors in the questions).

Research Hypothesis

Tentative statements as solutions to the problem. Tentative statements on relationships between two or more variables. An educated guess of conditions of a phenomenon. A reasoned speculation about how two or more variables are related to each other.

Types of Research Hypothesis

Ho: Null Hypothesis Ha: Alternative Hypothesis Simple & Composite hypothesis

Examples of Research Hypotheses :

Gifted students have higher motivation towards mathematics. There exists a positive relationship between attendance and result.

Types of BR
The two main types are Basic and Applied research.

Basic Research
The basic research is fundamental research driven by a scientist's curiosity. The main motivation behind it is to expand his knowledge, not to invent something. e.g, Understanding the consumer buying process

Applied research
Applied research on the other hand is designed to solve practical problems, rather than to gain knowledge. Applied research sets out to prove a specific hypothesis of value to the clients paying for the research. e.g, Examining consumer response to direct marketing programs. Evaluating the impact of a training program on employee performance

Business research processes

The steps of BRP are:

Identifying & Defining the Problem/Opportunity

1. Modes of Identification of problem through Expert Opinion

Problem faced in practice by manager Cognitive identification of an experienced researcher in the area of his expertise Literature search & Pilot Study (Identification of variables)

2. Preparing the statement of the research objective 3. Developing the hypothesis

Planning the Research Design

It includes all the details such as where the information should be obtained from, the time & budget allotted, the appropriate measurement techniques & sampling process.

Selecting the Research Method

Surveys Experiments Secondary data studies Observational Techniques Analyzing research designs

Selecting the Sampling Procedure

Types of Sampling Size of the sample

Data Collection
Primary sources Secondary source

Data Analysis Preparing & Presenting the Research Report

Research Design
These are concerned with turning the research question into a testing project. The best design depends on your research questions. Every design has its positive and negative sides. Need of Research Design
It facilitates the smooth flow of various research processes.

Characteristics of Research design

Identifying the exact research problem to be studied Objective of the research Process of obtaining information Availability of adequate & skilled manpower Availability of adequate financial resources

Types of Research design

Experimental designs:
In an experimental design, the researcher actively tries to change the situation, circumstances or experience of participants (manipulation), which leads to a change in behaviour of the participants of the study. The participants are assigned to different conditions, and variables of interest are measured.

Non-experimental research designs:

Non-experimental research is almost the same as experimental research, the only difference is that non-experimental research does not involve a manipulation of the situation, circumstances or experience of the participants. It can be split up in three designs.

Relational designs Comparative designs Longitudinal design

Range of variables is measured. These designs are also called co relational studies Compare two or more natural groups Subjects are assessed at several different times in their lives. Usually, you use this design when you are interested in how subjects change over time.

Quasi experiment:

Theses research design that follow the experimental procedure, but do not randomly assign people to (treatment and comparison) groups.

Case study:

In a case study, one single unit is extensively studied. This case can be a person, organization, group or situation.

Ethnographic study:
This type of research is involved with a group, organization, culture, or community. Normally the researcher shares a lot of time with the group.

The aim of grounded theory studies is to make theories that can explain certain events.

Grounded theory study:

Classification of Research Design

Broadly there are three types of research design:
Exploratory Studies Descriptive Studies Causal Studies

Exploratory Studies:

It is carried out to make problem suited to more precise investigation. It helps in understanding & accessing the critical issues & problems. There are three main reason of such studies,
1.To analyze a problem situation 2. To evaluate alternatives 3. To discover new ideas

These studies can be conducted by both Quantitative & Qualitative techniquesIn-depth interviews, projective techniques, elite interviewing, document analysis Secondary data analysis, experience surveys, focus group

Descriptive Studies: The objective of descriptive study is to learn the who, what, when, where, and how of a topic. The study may be simple or complex; it may be done in many settings.
These studies form the basis for analytical , experimental & quasiexperimental studies & also help in developing hypothesis.

Causal Studies: The aim of the studies is to identify the cause & effect relationship between variables. There are thee types of relationship,

Symmetrical Reciprocal Asymetrical

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