INTRODUCTION TO BUSINESS

RESEARCH

GHANA INSTITUTE OF MANAGEMENT AND

PUBLIC ADMINISTRATION (GIMPA)

Emmanuel Gyamf
(PhD., MSc., PgDip, BSc.)

1
 LEARNING OBJECTIVES

At the end of this lecture, you

should be able to:
Explain the nature of Research
Introduction to Business Research
The scientific method, addressing
Management problems with scientific
thinking

2
 QUESTION

What is Research?

3
 CONCEPTS AND NATURE OF
RESEARCH

Meaning of Research
Fact finding through the collection and interpretation
of data
To obtain a better understanding of such issues as
voting patterns, inflation rates, state of unemployment
in a country, etc., numerical facts and figures need to
be reviewed and interpreted.
The process of collecting relevant factual
information/data, analysing them, drawing conclusions,
and deciding further courses of action is known as
Research. 4
 CONCEPTS AND NATURE OF
RESEARCH

Defnition
‘Something that people undertake in order to find
things out in a systematic way, thereby increasing
their knowledge’
Saunders et al. (2009)

Characteristics
Data are collected systematically
Data are interpreted systematically
There is a clear purpose to find things out
 CONCEPTS AND NATURE OF
RESEARCH
 Research is a serious academic activity with a set
of objectives to analyse problems and find
solutions by adopting a systematic approach in
collecting, organising and analysing the
information related to the problem.

Research Method
A research method consists of various steps that
are generally adopted by a researcher in studying
a problem together with the logic behind it, and
finding a solution for it. It is a way to systematically
solve a research problem. 6
 TERMINOLOGY

Methods
The techniques and procedures used
to obtain data

Methodology
The theory of how research should
be undertaken
Saunders et al. (2009)
 QUESTION

Define the Term “Scientific Method”

8
 SCIENTIFIC METHOD

 The analysis and interpretation of empirical

evidence (facts from observation or
experimentation) to confirm or disprove
prior conceptions.

9
 SCIENTIFIC METHOD…CON’T

 The essential tenets of the scientific method

are:
Direct observation of phenomena
Clearly defined variables, methods, and
procedures
Empirical testable hypotheses
The ability to rule out rival hypotheses
Statistical rather than linguistic justification of
conclusions
The self-correcting process 10
 CONCEPTS AND NATURE OF
RESEARCH

 Statistics
 The application of scientific method in the analysis of
numerical data for the purpose of making rational
decisions.
 After data is collected, statistical methods are
available to summarize and describe the prominent
features of the data. These statistical methods are
commonly known as descriptive statistics.

 Descriptive statistics
 can be defined as those methods involving the
collection, presentation, and characterization of a set
of data in order to properly describe the various
features of that set of data. 11
 QUESTION

What are the Purposes for undertaking a

Research?

12
 RESEARCH PURPOSES

 To assess reliability of present “knowledge”

 To create new knowledge

 To achieve status

 To secure promotion in an academic

environment

13
 QUESTION

What are the types of Research?

14
 TYPES AND NATURE OF RESEARCH

Types of Research
a) Qualitative Research
Qualitative means a non-numerical data collection or
explanation based on the attributes of the graph or source
of data.
Qualitative research is a method of inquiry employed in
many different academic disciplines, traditionally in the
social sciences, but also in market research and in other
contexts.
Qualitative researchers aim to gather an in-depth
understanding of human behaviour and the reasons that
govern such behaviour. 15
 TYPES AND NATURE OF RESEARCH

 The qualitative method investigates the why and

how of issues and not just what, where, or when.
 Measuring attitude, awareness, etc. is a qualitative
function where the cause could not be expressed in
terms of quantity but in terms of attributes.
 In qualitative research, the researcher's role
receives greater critical attention.
 Qualitative research is often used for policy and
program evaluation research since it can answer
certain important questions more efficiently and
effectively than quantitative approaches.
16
 TYPES AND NATURE OF RESEARCH

 This is particularly the case for

understanding how and why certain
outcomes were achieved (not just what was
achieved) but also for answering important
questions about relevance, unintended
effects and impact of programs.

 Qualitative approaches have the advantage

of allowing for more diversity in responses as
well as the capacity to adapt to new
developments or issues during the research
process itself – flexibility. 17
 TYPES AND NATURE OF RESEARCH

b) Quantitative Research
In the social sciences, quantitative research refers to
the systematic empirical investigation of quantitative
properties and phenomena and their relationships.

The objective of quantitative research is to develop and

employ mathematical models, theories and/or hypotheses
pertaining to phenomena.

The process of measurement is central to quantitative

research because it provides the fundamental connection
between empirical observation and mathematical
expression of quantitative relationships.
18
 TYPES AND NATURE OF RESEARCH

 The output of this type of research should be

presented in quantifiable terms.
 Statistics is the most widely used branch of
mathematics in quantitative research outside
of the physical sciences.
 Statistical methods are used extensively
within fields of physical and social sciences.

19
 TYPES AND NATURE OF RESEARCH

 Quantitative research using statistical

methods starts with the collection of data,
based on the hypothesis or theory.
 Usually a big sample of data is collected -
this would require verification, validation and
recording before the analysis can take place.
 Software packages are typically used for this
purpose.

20
 QUESTION

What are the differences between

Qualitative and Quantitative Research?

21
 TYPES AND NATURE OF RESEARCH

Difference Between Quantitative and

Qualitative Research
Qualitative research seeks to explore phenomena;
whilst quantitative research seeks to confirm
hypotheses about phenomena.
Qualitative research seeks to describe variation;
whilst quantitative research seeks to quantify
variation.
Qualitative research seeks to describe and explain
relationships; whilst quantitative research seeks to
predict causal relationships. 22
QUANTITATIVE VS. QUALITATIVE

23
 NATURE OF RESEARCH

 Systematic – plan, identify, design, collect data,

evaluate
 Logical – examine procedures to evaluate
conclusions
 Empirical – decisions are based on data
(observation)
 Reductive – general relationships are established
from data
 Replicable – actions are recorded
24
BREAK

25
 PART TWO

An Overview of Business Research

26
 BUSINESS RESEARCH DEFINED

 Business research is a systematic inquiry

that provides information to guide
managerial decisions.

 Business research is also defined as the

systematic and objective process of
generating information for aid in making
business decisions.

27
 BUSINESS RESEARCH…CON’T.

Thus, Business Research

specifically is the process of:
Planning

Acquiring

Analyzing and disseminating relevant data

Information; and

Insights to decision makers to take appropriate

actions
28
 BUSINESS RESEARCH

 Information Reduces Uncertainty

 “It ain’t the things we don’t know that gets us in trouble.

It’s the things we know that ain’t so.” Artemus Ward

29
 BUSINESS RESEARCH

The Purpose of Business Research:

To identify and define opportunities and
problems
To define, monitor, and refine strategies
To define, monitor, and refine tactics
To improve our understanding of the
various fields of management
30
 FEATURES OF BUSINESS AND
MANAGEMENT RESEARCH

 Managers draw on knowledge from other

disciplines
 Managers are more likely to allow access if
they see commercial or personal advantage
 Managers now tend to be as educated as the
researchers
 Managers require research to have some
practical consequence
Easterby-Smith et al. (2008)
FEATURES OF BUSINESS AND
MANAGEMENT RESEARCH
Basic and applied research

Sources: Easterby-Smith et al. (2008); Hedrick et al. (1993)

 MANAGEMENT DILEMMA

Several Factors should stimulate your

interest in studying research methods:
Information overload
Technological connectivity
Shifting global centre's of economic activity and
competition
Increasingly critical scrutiny of big business
More government intervention
New perspectives on established research
methodologies 33
 HIERARCHY OF INFORMATION-
BASED DECISION MAKERS

 The Exhibit shows an emerging hierarchy of

organizations in terms of their use of
business research
Top
Tier

Middle
Tier

Base
Tier
34
 HIERARCHY OF INFORMATION-
BASED DECISION MAKERS
 The top tier organizations
 see research as the fundamental first step in any venture.
 go beyond the tried-and-true methodologies and use
creative combinations of research techniques to gain deep
insights to aid in their sophisticated decision making

 The second tier of the hierarchy

 are those decision makers that rely periodically on research
information.
 They usually turn to it when they see danger

 The third base

 comprises those managers who primarily use instinct and
intuition rather research knowledge 35
 QUESTION

What are the factors that determine

when to conduct Business
Research?

36
 DETERMINING WHEN TO CONDUCT
BUSINESS RESEARCH

Time constraints
Availability of data
Nature of the decision
Benefits versus costs

37
 DETERMINING WHEN TO CONDUCT
BUSINESS RESEARCH
Availability of Data Benefits vs.
Nature of the Decision Costs
Time Constraints

Is the infor- Does the value

Is sufficient time Is the decision Conducting
Yes mation already Yes Yes of the research Yes
available before of considerable
a managerial
on hand
strategic
information Business
inadequate exceed the cost
decision
for making
or tactical
of conducting Research
must be made? importance?
the decision? research?

No No No No

Do Not Conduct Business Research

 VALUE VERSUS COSTS

 Potential Value of a Business Research Effort

Should Exceed Its Estimated Costs

39
 VALUE SHOULD EXCEED
ESTIMATED COSTS
Costs
Value •Research expenditures
•Decreased uncertainty •Delay of business
decision and possible
•Increased likelihood of
disclosure of information
a correct decision
to rivals
•Improved business
•Possible erroneous
performance and
research results
resulting higher profits
 BUSINESS RESEARCH IN THE 21ST
CENTURY

 Increased globalization

 Growth of the Internet and other information

technologies
 QUOTE

 This is a fantastic time to be entering the

business world, because business is going to
change more in the next 10 years than it has
in the last 50.

Bill Gates, entrepreneur and founder of Microsoft

42
 THE INTERNET
IS TRANSFORMING SOCIETY

 Time is collapsing.

 Distance is no longer an obstacle.

 Crossing oceans is only a mouse click away.

 People are connected 24 hours a day, seven

days a week.

 "Instantaneous" has a new meaning.

 QUESTION

Is research always Problem-solving

Based?

44
 ANSWER

Yes.
Researchers are often asked to respond to
problems that managers need to solve.

Applied research has a practical problem solving

emphasis. Thus it is done to solve a particular
problem

Pure Research or Basis research aims at solving

perplexing questions that has little direct or
immediate impact on action.
45
 THE RESEARCH PROCESS

Stages of the research process

 Formulating and clarifying a topic
 Reviewing the literature
 Designing the research
 Collecting data
 Analysing data
 Writing up
 THE RESEARCH PROCESS

Factors to consider
 The impact of your personal feelings and beliefs
 Access to data
 Time and other resources
 Validity and reliability of the data
 Ethical issues
 THE RESEARCH PROCESS

And finally……..

“there is no one best way for

undertaking all research”

Saunders et al. (2009)

 IN CLASS GROUP DISCUSSION

Give Ten Characteristics of a Good

Research?

49
 SUMMARY

 Research is any organized inquiry carried out

to provide information for solving problems.
 Business Research is a systematic inquiry
that provides information to guide decisions.
 More specifically, it is the process of
determining, acquiring, analyzing and
synthesizing, and disseminating relevant
data to enable companies take appropriate
actions.
50
"The secret of success is to know
something nobody else knows. "

Aristotle Onassis
 END

END OF LECTURE.
QUESTIONS???

1-52