Slide 1
Research An overviewZikmund(Chapter 1 & 4)Uma Sekeran (Chapter 1)1Task1 (5 minutes)2Health:What are some of the most common conditions prevalent among my patients?What are the causes of these conditions?Why do some people have a particular condition whereas others do not?What are the health needs of the community?What are the benefits of this programme to the community?3Marketing:What is the effect of a particular advertising campaign on the sale of this product?How satisfied are the consumers with this product?How much are consumers prepared to spend on this product?What do consumers like or dislike about this product?What type of packaging do consumers prefer for this product?Defining ResearchDefinition by CooperA process of determining, acquiring, analyzing, synthesizing, and disseminating relevant business data, information, andinsights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performanceDefinition by ZikmundBusiness 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)4More definitionsResearch is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.
An organized, systematic, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the propose of finding answers or solutions to it.
5Research involves ...6Typical Users of Business Research MethodsBusinesses and Corporations Public-Sector AgenciesConsulting FirmsResearch InstitutesNon-Governmental OrganizationsNon-Profit OrganizationsIndependent Researchers and Consultants5/20/20147Fields Where Business Research is Often Used (1)General Business Conditions andCorporate ResearchShort- & 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 analysis5/20/20148Management and Organizational Behaviour ResearchTotal Quality ManagementMorale and Job SatisfactionLeadership StyleEmployee ProductivityOrganizational EffectivenessStructural ssuesAbsenteeism and turnoverOrganizational ClimateFields Where Business Research is Often Used (2)Sales and Marketing ResearchMarket PotentialsMarket ShareMarket segmentationMarket characteristicsSales AnalysisEstablishment of sales quotasDistribution channelsNew product conceptsTest marketsAdvertising researchBuyer behaviourCustomer satisfactionWebsite visitation ratesInformation Systems ResearchKnowledge and information needs assessmentComputer information system use and evaluationTechnical suppot satisfactionDatabase analysisData miningEnterprise resource planning systemsCustomer relationship management systems
Corporate Responsibility ResearchEcological ImpactLegal Constraints on advertising and promotionSex, age and racial discrimination / worker equitySocial values and ethics
9Selected Examples of Real-Life Situations in Which Business Research Methods are Used10A 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
Task-2 (5 minutes)Write down two real-life situations where you think research can be applied. Be creative The situation should be in our local perspective. 11Basic and Applied ResearchBasic Research aims to expand the frontiers of 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 focuses 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?
1213Types of Business ResearchResearch can be undertaken for two different purposes:To solve a current problem faced by the manager in the work setting. Such research is called applied research.To generate a body of knowledge about how to solve problems that could be occurred in organizations. This is called basic research or fundamental research. It is also known as pure research.14Examples of Applied ResearchApples iPod sales increased by 200% from 2001 to 2008. but the sales decreased by 6% in 2009. What is the reason for this decrease?The question is: what will apple do about this problem?Examples of Applied ResearchXerox is insular and isnt ready for the increasingly competitive, high-tech world. Xerox still relies on old-fashioned and slow-selling analog copiers for more than half its revenue and despite its double-digit growth in digital products and services, its sales rose just 4%.
15Examples of Applied ResearchIn the Xerox situation, it needs to look into the efficacy of the analog technology used in copiers and examine what should be done to increase efficiency and promote its sales.
1617Examples of Basic ResearchUniversity professors engage in basic research in an effort to understand and generate more knowledge about various aspects of businesses, such as:How to improve the effectiveness of information systems.How to integrate technology into the overall strategic objectives of an organization.How to increase the productivity of the employees.How to increase the effectiveness of small businesses. 18Examples of Basic ResearchThese findings later become useful for application in business situations.
19Distinction Between Applied and Basic ResearchThe main distinction between applied and basic business research is:Applied research is specifically aimed at solving a currently experienced problem.Basic research has a broader objective of generating knowledge and understanding of phenomena and problems that occur in various organizational settings.Both types of research follow the same steps of systematic inquiry to arrive at solutions to problems.Characteristics of Good ResearchClearly defined purposeDetailed research processThoroughly planned designHigh ethical standardsLimitations addressedAdequate analysisUnambiguous presentationConclusions justifiedCredentials20Exhibit 1-8 presents the characteristics of good business research and also explains what managers should look for in research done by others.
You might wish to discuss the concepts here, before you discuss who actually conducts researchor you might want to discuss who conducts research first, followed by this slide to summarize.The Value of Business Research for Managers (1)Identification of problems and/or opportunities Useful for strategy planning, analysis of internal and external organizational environmentIts 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 prioritiesSelection and Implementation of Courses of ActionBusiness 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
21The 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 measuresWhat are the trends in retail and wholesale sector? Can research suggest new ways to improve efficiency in purchase transactions?
22Who Conducts Research?
1-2323This exhibit can be used to summarize what was just discussed in more detail.24Ethics and Business ResearchEthics in business research refers to a code of conduct of behavior while conducting research.Ethical conduct applies to the organization and the members that sponsor the research, the researchers who undertake the research, and the respondents who provide them with the necessary data.25Ethics and Business ResearchThe members that sponsor the research should do it in good faith, pay attention to what the results indicate, and pursue organizational rather than self-interest.Ethical conduct should also be reflected in the behavior of the researchers who conduct the investigation, the participants who provide the data, the analysts who provide the results, and the entire research team that presents the interpretation of the results and suggests alternative solutions.The Research process
The Research ProcessSteps in Research Process:Formulating the Research ProblemExtensive Literature ReviewDeveloping the objectivesPreparing the Research Design including Sample DesignCollecting the DataAnalysis of DataGeneralization and InterpretationPreparation of the Report or Presentation of Results-Formal writes ups of Conclusions reached.Step1. Formulating the research problem:It is the first and most crucial step in the research processMain function is to decide what you want to find out about.Sources of research problems
1. Study population:People: individuals, organizations, groups, communities (they provide you with the information or you collect information2. Subject area:Problems: issues, situations, associations, needs, profiles Program : content, structure, outcomes, attributes, satisfactions, consumers, Service providers, etc. Phenomenon: cause-and-effect relationships, the study of a phenomenon itself You can examine the professional field of your choiceFormulating the Problem Statement and Research Objectives:Example 1:This paper aims to study the Impact of social media on consumer buying behavior and brand commitment. The overall relationship of the Impact of social media on consumer buying behavior and brand commitment has been empirically analyzed and resulted.Objectives:To investigate the effect of Social Media on the buying behavior of a consumer.To find out the relationship between brand image and consumer purchasing behavior and their commitment with the brand.To determine the factors behind the brand loyalty in the context of Pakistan.Example 2:The purpose of this study is to identify about the core dimensions of the motivation and their role in consumers decision process that persuades a consumer to purchase innovation, through a grounded theory approach from the consumer point of view. Objectives:To identify the latent motivating factors that triggers the purchase decision process.To generate substantive theoretical model for the purchase decision process of innovative market offerings. The model will identify the latent motivation factors that plays vital role at various stages of the purchase decision process.
Step 2. Reviewing the literature:Essential preliminary task in order to acquaint yourself with the available body of knowledge in your area of interest. An integral part of entire research process and makes valuableReviewing literature can be time-consuming, daunting and frustrating, but is also rewarding. Its functions are:a. Bring clarity and focus to your research problem;b. Improve your methodology;c. Broaden your knowledge;d. Contextualize your findings.Literature is checked from Books, Journals, Digital Libraries etc. All literature must be written in own words and have proper references.
Step 3 The formulation of objectives:Objectives are the goals you set out to attain in your study.They inform a reader what you want to attain through the study.It is extremely important to word them clearly and specifically.The objectives should start with words such as to determine, to find out, to ascertain, to measure, to explore etc Step 4. PREPARING THE RESEARCH DESIGNResearch design is the conceptual structure within which research would be conducted.The function of research design is to provide for the collection of relevant information with minimal expenditure of effort, time and money.The preparation of research design, appropriate for a particular research problem, involves the consideration of the following :Objectives of the research study.Method of Data Collection to be adoptedSource of informationSample DesignTool for Data collectionData Analysis-- qualitative and quantitativeStep 5: COLLECTING DATAHaving formulated the research problem, developed a study design, constructed a research instrument and selected a sample, you then collect the data from which you will draw inferences and conclusions for your study. Depending upon your plans, you might commence interviews, mail out a questionnaire, conduct experiments and/or make observations. Step 6: Processing and analyzing dataProcessing and analyzing data involves a number of closely related operations which are performed with the purpose of summarizing the collected data and organizing these in a manner that they answer the research questionsStep 7: Generalization and Interpretation:Writing the chapter of findings and discussions with the help of performed analysis, the qualitative approach has codes and quotes whereas the quantitative approach has descriptive, regressions, correlational and other analysis to base the facts on.
Step 8: Writing ReportPreliminary Section 1. Title Page 2. Acknowledgments (if any) 3. Table of Contents 4. List of Tables (if any) 5. List of Figures (if any) 6. Abstract Main Body 1. Introduction a. Statement of the Problem b. Significance of the Problem (and historical background) c. Purpose d. Statement of Hypothesis e. Assumptions f. Limitations g. Definition of Terms 2. Review of Related Literature (and analysis of previous research) 3. Research Methodologya. Description of Research Design and Procedures Used b. Sources of Data c. Sampling Procedures d. Methods and Instruments of Data Gathering e. Statistical Treatment 4. Analysis of Data a. text with appropriate b. tables and c. figures 5. Conclusions a. Restatement of the Problem b. Description of Procedures c. Major Findings (reject or fail to reject Ho) d. Conclusions e. Recommendations for Further Investigation C. Reference Section 1. End Notes (if in that format of citation) 2. Bibliography or Literature Cited 3. Appendix
