Research Methods for Business. 2 A skill Building Approach Fourth Edition Uma Sekaran.

Research Research Methods for Methods for

BusinessBusiness

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A skill Building Approach

Fourth Edition

Uma Sekaran

3Copyright © 2003 John Wiley & Sons, Inc. Sekaran/RESEARCH 4E 1A

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Introduction to Research. Scientific Investigation. Technology and Business Research. The Research Process: Steps 1 to 3:

The Broad Problem Area, Preliminary Data Gathering, Problem Definition.

The Research Process: Steps 4 and 5: Theoretical Framework Hypothesis Development.

The Research Process: Step 6: Elements of Research Design.

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Measurement of Variables: Operational Definition and Scales.

Measurement: Scaling, Reliability, Validity.

Data Collection Methods. Sampling. Data Analysis and Interpretation. The Research Report.

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What is Research.Research involves a series of well-thought-out and

carefully executed activities that will enable the manager to know how org. problems can be solved, or at least considerably minimized.

OROrganized, systematic, data-based , critical,

objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solution to it.

Quantitative (structured questioner)Qualitative (Open-ended questioner)

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On the determination of luckOn the basis of investigation Choose between alternatives.

Management may take Decision

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Good decision

•Problem Solved

Poor decision

•Problem persists

The main FUNCTION of Management is Decision Making

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1. Machine on the shop floor stops working

2. Employee absents from work floor.

3. Employees are not motivated

4. Creditors have negative perception about your organization.

Situations

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1. Do manager identify where exactly the problem lies? Yes /No

2. Do they know what type of information are to be gathered and how? Yes /No

3. Do they know how to make use of collected information and draw appropriate conclusion to make the right decisions? Yes /No

4. Do they know how to implement the results of the process to solve the problem? Yes /No.

Check list for Good Decision

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Decision Making & Research Problem Area

Problem identification

Gathering Information

Analysis of Data

Delineate (describe) the factors OR

corrective action

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What is Research.

Organized, systematic, data-based, critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solution to it.

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Business Research.Is usually primarily conducted to resolve problematic issues in or interrelated among, the areas of business.

1. Accounting

2. Finance

3. Management

4. Marketing

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Accounting: budget control system, Practices and procedure, inventory costing method, Cash recovery, taxation Planning.

Finance: Operation of financial institutions, financial ratios, leverage, mortgage, merger, acquisition etc.

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Management: Employees attitude and behavior, human recourses management, impact of changing demographic on management practices, production operations.

Marketing: Branding image, advertising, after sale services, Consumer preferences, new product development etc.

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Fundamental Type of Research

1. Applied Research:– To solve the current

problem.

– Research done with intention of applying the results of the finding to solve specific problems currently being experienced in the organization is called applied research.

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2. Basic / Pure /Fundamental Research– To improve our understanding about

problems.– Research done chiefly to enhance the

understanding of certain problems that commonly occur in organizational setting and seek method of solving them.

Fundamental Type of Research

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2. Basic / Pure /Fundamental Research– To generate a body of knowledge by trying

to comprehend how certain problems that occur in organizations can be solved.

– e-g Multiculturalism, ethnicity, demographic factors etc.

– Various organization General Electronic Company

– Professors in universities .

Fundamental Type of Research

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2. Basic / Pure /Fundamental Research

Objective of Basic research is to equip oneself with additional knowledge of certain phenomena/ problems that occur in several organizations.

Fundamental Type of Research

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A research scientist surveys 1000 employees in different organization setting to study the efficacy of several type of nasal sprays in controlling the flu virus. He subsequently publishes his finding in a high respected medical journal.

Effect of Nasal Spray on Flu

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Why should a manager know research?

Facilitates good decision making.

Become able to discriminate about research findings.

Prevents vested (personal) interests

Educates to share pertinent/ significant and relevant information with researcher.

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Help for calculation of risks and probabilities attached.

Understand the complexity of the variables in organization.

Integrate research with profession. Hire /select researcher /consultant

more effectively.

Why should a manager know research?

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The Manager –Researcher Relationship

Each should know his /her role.

Trust level Value system Acceptance of

findings and implementation

Issues of inside versus outside researchers.

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Advantages Better acceptance from staff Knowledge about organization Would be an integral part of implementation and

evolution of the research recommendations.

Disadvantages Less fresh ideas Power politics could prevail Possibility not valued as “experts” by staff.

INTERNAL RESEARCHERS

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Advantages Divergent and convergent thinking Experience from several situations in different type of

organizations. Better technical training, usually.

Disadvantages Take time to know and understand the organizational

system. Rapport and corporation from staff not only easy. Not available for evaluation after implementation

cost.

EXTERNAL RESEARCHERS

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