RESEARCH METHODS

LECTURE 1: THE ROLE OF BUSINESS RESEARCH

REFERENCE CHAPTERS: CHAPTER 1 (ZIKMUND) CHAPTER 1 (SAKERAN)

WHAT IS RESEARCH ?
RESEARCH is an organized, systematic, data based, critical, objective, scientific enquiry or investigation into a specific problem undertaken with the purpose of finding answers or solutions. Planned - Systematic - Reliable.

Begins with: a doubt, question, inquiry

Asking Questions - Use of methods to develop answers.
Questions Research Methods Analysis.

Wish to research

Formulate and clarify your Research topic

THE RESEARCH PROCESS

Critically review the literature Choose your research approach and strategy Negotiate access and address ethical issues

Plan your data collection and collect the data using one or more of :
Sampling Secondary data Observation Semi-structured and in-depth interviews Questionnaires

Analyse your data using one or both of:

Quantitative methods Write your project report Qualitative methods

Submit your report

SOME COMMONLY RESEARCHED TOPICS

Employee behavior ( performance, absenteeism, turnover) Brand loyalty, product lifecycle and product innovation Operations Management/ Productivity Consumers Behavior/ Choices Company Shares/ Event Study/ M&A

BUSINESS RESEARCH DEFINED

Business research is defined as the systematic and objective process of generating information for aid in making business decisions.

IMPORTANCE OF RESEARCH & RESEARCH METHODOLOGY FOR STUDENTS OF BUSINESS

Obtaining information about relevant phenomenon objectively. Testing existing hypothesis and theories.

Filling in gaps in existing theories.

Understanding professional literature. Problem solving and decision making. Critical thinking: fundamental basis of research

BUSINESS RESEARCH TYPES

Basic research Applied research

BASIC RESEARCH
Attempts to expand the limits of knowledge. Not directly involved in the solution to a pragmatic problem. Academic research Theory building Industry related/ generalized

BASIC RESEARCH EXAMPLE

Is executive success correlated with high need for achievement? Are members of highly cohesive work groups more satisfied than members of less cohesive work groups? Do consumers experience cognitive dissonance in low-involvement situations?

APPLIED RESEARCH
Conducted when a decision must be made about a specific real-life problem Business Research Organization related Problem solving

APPLIED RESEARCH EXAMPLES

Should McDonalds add Italian pasta dinners to its menu?
Business research told McDonalds it should not

Should Procter & Gamble add a high-priced home teeth bleaching kit to its product line?
Research showed Crest Whitestrips would sell well at a retail price of $44

CLASS EXERCISE: CASE

Right from her days as a clerical employee in a bank, Sandra had observed that her colleagues, though extremely knowledgeable about the nuances and intricacies of banking, were exerting very little effort to improve the efficiency and effectiveness of the bank in the area of customer relations and service. They took on minimum amount of work load and availed long tea and lunch breaks and seemed not to be motivated. She thought what a waste of talented people to goof around and not to contribute to the GNP. When she left the bank to do her Ph.D the topic for dissertation was Job involvement or the ego investment of people in their jobs. The conclusion of her investigation was that the most important contributory factor to job involvement is the fit or match between the nature of the job and personality predisposition of the people engaged in performing in it.

CONT..
A university professor wanted to analyse in depth the reasons for absenteeism of employees in organizations. Fortunately, a company within 20 miles of the campus employed her as a consultant to study that very issue. A research scientist surveys 1,000 employees in different organizational settings to study the effectiveness of several types of nasal sprays in controlling the flu virus. He subsequently publishes his findings in a highly respected medical journal.

DETERMINING WHEN TO CONDUCT BUSINESS RESEARCH

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

MAJOR TOPICS FOR RESEARCH IN BUSINESS

General Business Conditions and Corporate Research Financial and Accounting Research Management and Organizational Behavior Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research

WHY MANAGERS SHOULD KNOW ABOUT RESEARCH?

Detached and impersonal rather than biased It facilitates the managerial decision process for all aspects of a business. Know how to discriminate good from bad research. Take intelligent, calculated risks in decision making. Prevent possible vested interests from exercising their influence in a situation. Relate to hired researchers more effectively (Mutual Understanding). Combine experience with scientific knowledge while making decisions.

RESEARCH PROJECT

DISSERTATION
A Research Proposal:
A document that defines what the project is about, why it is important and how it is to be carried out

A Research Project:
All the activities that go towards completing the dissertation

A Thesis:
An argument or proposition supported by evidence or literature

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THE ADVANTAGE OF A DISSERTATION

To give you an opportunity to:
To enlarge your knowledge To specialize in certain area of study To improve of your critical thinking that is necessary to possess nowadays To plan, research, and write up a project that improves understanding of a significant issue, and that may provide recommendations or findings on which action can be determined; To provide a platform for personal and academic development via the production of a unique piece of academic work. Chance to get your BBA Degree
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THE OBJECTIVE OF A DISSERTATION

To learn how to undertake a major project that requires you to : Be focused on a complex and important issue; Undertake effective and competent primary research; Integrate theory and practice; Incorporate understanding from a critical review of the literature; Base your dissertation on sound analysis and arguments;

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AFTER THE DESSERTATION

Consultancy Research Analyst Management Training Business/Market Analyst Project Management Publishing your thesis * Franklincovey.com

THE PROCESS OF DOING A DISSERTATION

Phase 1: Getting Started Phase 2: Writing a Critical Literature review Phase 3: Devising Research Questions Phase 4: Research Process Phase 5: Writing it up.

Note: it is possible to loop back at various stages.

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THE PROCESS OF DOING A DISSERTATION

Phase 1: Getting Started Choosing a topic; drafting objectives Phase 2: Writing a critical literature review Locating, reading, material from academic articles, books and conference papers. Summarising and evaluating the literature. Identifying key concepts drafting conceptual frameworks, theorising the material. Phase 3: Devising Research Questions Being clear about the questions you want answered Phase 4: Research Process Choosing methods, collecting and analysing data Phase 5: Writing it up. Interpreting material and drawing conclusions Arguing a thesis, structuring the dissertation.
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