Business Research

7/17/2019 Business Research

http://slidepdf.com/reader/full/business-research-568d2e1558b4e 1/25

10/12/15Dr. Abdul Kabeer Kazi 1

MKT-311 Business ResearchMethods

BBA-6 (A)

FALL 2015



Business research

10/12/15Dr. Abdul Kabeer Kazi

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

A systematic and objective process:

o !at"erin!# recordin! and analyzin! data or

aid in ma$in! business decisions o

investi!atin! a speciic problem in %or$ settin!

t"at needs a solution

&"e entire process by %"ic" %e attempt to solve

problems is called '()(A'*+



10/12/15Dr. Abdul Kabeer Kazi ,

BUSINESS RESEARCH

'esearc" inormation is neit"er intuitive nor"ap"azardly !at"ered.

-usiness researc" must be objective

Detac"ed and impersonal rat"er t"an biased

t acilitates t"e mana!erial decision process or all

aspects o a business.



-usiness 'esearc"

'esearc" inormation is neit"er intuitive nor"ap"azardly !at"ered.

iterally# researc" researc" searc" a!ain4

-usiness researc" must be objectiveDetac"ed and impersonal rat"er t"an biased

t acilitates t"e mana!erial decision process or allaspects o a business.

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Dr. Abdul Kabeer Kazi



When i Buine Reear!h Ued"

&ypically# business researc" met"ods

are used in situations o uncertainty#

t"at is# %"en decisionma$ers ace t%o

or more courses o action and see$ to

select t"e best possible alternative undert"e circumstances.




When i Buine Reear!hUed"

-usiness 'esearc" is "ence aimed at

improvin! t"e 7uality o decisionma$in!

%"ic"# in turn# beneits t"e or!anization and

"elps ensure its continuity and eiciency




#$%i!al Uer &' Buine Reear!h

(e)h&d

-usinesses and *orporations

9ublic)ector A!encies

*onsultin! irms

'esearc" nstitutes

;on<overnmental =r!anizations;on9roit =r!anizations

ndependent 'esearc"ers and *onsultants



10/12/15Dr. Abdul Kabeer Kazi >

Seected !"a#$es o% Rea-Li%e Situations in &hich

Business Research Methods are 'sed

A irm %ants to produce and mar$et a ne% product but irst %ants to ascertain i t"ere is a potential

consumer demand or t"is product in mar$ets ?#y

and z

a multinational irm %ants to establis" aproduction acility in anot"er country ater

determinin! its tec"nical and economic easibility

A !overnment a!ency %ants to ascertain t"esatisaction level o its employees# t"e causes or any

possible discontent# and propose a sc"eme or

en"ancin! t"is level



Basic research

Applied research

-usiness 'esearc" &ypes

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Basic and A$$ied ResearchBai! Reear!h aims to e?pand t"e rontiers o science

and $no%led!e by veriyin! or disprovin! t"e acceptabilityo a !iven t"eory or attemptin! to discover more about a

certain concept nonspeciicity

(?ample: +o% does motivation aect employee perormance@

A%%lied Reear!h ocuses on a reallie problem or

situation %it" a vie% to "elpin! reac" a decision "o% to deal

%it" it )peciicity

(?ample: )"ould *orporation adopt a paperless oice

environment@




12

BASIC RESEARCH

• Also called 9ure or undamental'esearc"• t is underta$en or increase in

$no%led!e• &"ere is no direct beneit as it is aresearc" or t"e sa$e o researc"•

t is t"e source o most ne% t"eories#principles and ideas.• -asic researc" rarely "elps anyonedirectly.




BASIC RESEARCH

• t only stimulates ne% %ays o t"in$in!.• &"e main motivation is to expand man'sknowledge.

• &"ere is absolutely no commercial value tot"e discoveries resultin! rom suc" researc".• n t"e lon! run# it orms t"e basis o applied

researc" or development commercial products



-asic 'esearc" (?ample

s e?ecutive success correlated %it""i!" need or ac"ievement@

Are members o "i!"ly co"esive %or$!roups more satisied t"an members oless co"esive %or$ !roups@

10/12/15

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A**+IED RESEARCH


15• t is use o basic researc" or pastt"eories# $no%led!e and met"ods orsolvin! an e?istin! problem• t deals %it" practical problems• Applied 'esearc" ocuses onuncoverin! %"at needs are not bein!met• t uses inormation in desi!nin!

products or services t"at %ould createt"eir o%n demand



Applied 'esearc" (?amples

)"ould BcDonalds add talian pasta dinners to itsmenu@

-usiness researc" told BcDonaldCs it s"ould not@

)"ould 9rocter <amble add a "i!"priced "ometeet" bleac"in! $it to its product line@

'esearc" s"o%ed *rest E"itestrips %ould sell %ell ata retail price o F,,

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)cientiic Bet"od

&"e analysis and interpretation o empiricalevidence acts rom observation ore?perimentation to conirm or disprove priorconceptions.

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#he Een!e &' )he S!ien)i'i!(e)h&d

Chara!)eri)i! &' )he S!ien)i'i! (e)h&d

,b-e!)ii)$ S$)ea)i! Anal$i

+&i!al In)er%re)a)i&n &' Reul)

E l e / e n ) & ' ) h e S ! i e n ) i ' i ! ( e ) h & d

E / % i r i ! a l A % % r & a ! h , b e r . a ) i & n 1 u e ) i & n H $ % & ) h e e E 2 % e r i / e n ) A n a l $ i C & n ! l u i & n R e % l i ! a ) i & n

Applied'esearc"

-asic

'esearc"

) c i e n t i i c

B e t " o d

normation ordeas or alternative

*ourses o action

<eneral a%s



10/12/15Dr. Abdul Kabeer Kazi 1>

#he 3alue &' Buine Reear!h'&r (anaer 4 16

'eduction o uncertainty and improvement in t"e 7uality odecisionma$in! %it" several conse7uent advanta!es e.!.strate!ic# operational and beneits or or!anizations




The aue o% Business Research %or Manaers * (2)

Business Research Methods can be employed in each of thefolloing four stages!

". Identification of problems and#or opportunities$seful for strategy planning, analysis of internal and e%ternal

organi&ational environment

'. (iagnosing and Assessment of problems and#or opportunities Its purpose is to gain insight into the underlying reasons andcauses for the situation. If there is a problem, it asks hat

happened and hy) If there is an opportunity, it seeks to e%plore,clarify and refine the nature of the opportunity and, in the case ofmultiple opportunities, seeks to set priorities




3. )election and mplementation o *ourses o Action Ater alternative courses o action "ave been

determined# selection o t"e best possible course.

An important consideration is t"e 7uality o orecastin! %"ic" is anessential tool o researc"

,. (valuatin! t"e *ourse o Action

-usiness 'esearc" Bet"ods are used ater a course oaction "as beenimplemented in order to determine %"et"er activities

"ave beenproperly implemented and "ave accomplis"ed %"at t"ey

intended to

#he 3alue &' Buine Reear!h'&r (anaer 4 76




When Sh&uld Buine Reear!h be Under)a8en"

s suicient timeavailable@

s inormation

inade7uate@

+i!" importanceo decision@

'esearc" beneits!reater t"an costs@

Ges

Ges

Ges

;= Do notunderta$e -usiness 'esearc"

Under)a8e Buine Reear!




#he Buildin Bl&!8 &' Reear!h

KN,W+ED9E

Blend &' in'&ra)i&n: e%erien!e and in;ih) )ha)%r&ide a 'rae<&r8 )ha) !an be )h&uh)'ull$ ealua)ed

<hen aein ne< in'&ra)i&n &r ealua)inrelean) i)ua)i&n

De)erina)i&n &' rela)i&nhi% a&n) da)a <i)h a

ie< )& 'a!ili)a)in under)andin &' )he %hen&ena:)heir rela)i&nhi% and de!ii&n;a8ine.. %a) and %redi!)ed 'u)ure ale )rend6

IN=,R(A#I,N

(eaureen) &' %hen&enae.. ale )a)i)i! &' a de%ar)en) )&re6

DA#A



10/12/15Dr. Abdul Kabeer Kazi 2,

+ata and ,n%or#ation Sources %or Business Researchers

(a.istan)

*ederal and provincial ministries of commerce, industries and production

*ederal, provincial and city +hambers of +ommerce and Industry

tate Bank of akistan, akistan Banking +ouncil, local and foreign banking

institutions

tock %changes

/ational Investment Board %port romotion Bureau

Manufacturers, 0raders and %porters Associations

Research Institutes 1e.g. akistan Institute of (evelopment conomics2

/espapers and Maga&ines 1e.g. Business Recorder, akistan and 3ulfconomist2

Business and 0rade (irectories

Internet 1e.g.! .fore%pk.com2




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