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Introduction to Business
Research
By Engr. Orlando R. Santos, MBA, MAT - Math
What is research
What is business research
Types of business research
Importance of research for a manager
Knowledge about research and managerial effectiveness
Research
Science
a body of established knowledge
the observation, identification, investigation, and theoretical
explanation of natural phenomenon
Business Rresearch
Scope of business research
- for-profit, non-profit business
- business functions (production,
finance, management, marketing)
A definition of business research:
gathering and analyzing data in a systematic manner to
aid business decisions
objectivity and business research
Accounting
Budgets control systems, inventory costing methods,
accelerated depreciation taxation methods are some areas
that are researched.
Management
Study of employee attitude and behavior, HRM, POM,
strategy formulation.
Examples cont.
Finance
Financial Ratios, mergers and acquisitions, mortgages,
operations of financial institutions
Marketing
Product image, Advertising, Sales promotion,
packaging, pricing, after sale service, new product
development etc.
DEFINITION OF RESEARCH
When you say that you are undertaking a research study to find answers to a
question, you are implying that the process;
1. is being undertaken within a framework of a set of philosophies
( approaches);
2. uses procedures, methods and techniques that have been tested for their
validity and reliability;
3. is designed to be unbiased and objective .
CHARACTERISTICS OF RESEARCH
Research is a process of collecting, analyzing and interpreting
information to answer questions.
But to qualify as research, the process must have certain
characteristics: it must, as far as possible, be controlled, rigorous,
systematic, valid and verifiable, empirical and critical.
-Controlled- in real life there are many factors that affect an
outcome.
The concept of control implies that, in exploring causality in
relation to two Variables (factors), you set up your study in a way
that minimizes the effects of other factors affecting the
relationship.
This can be achieved to a large extent in the physical sciences
(cookery, bakery), as most of the research is done in a laboratory.
However, in the social sciences (Hospitality and Tourism) it is
extremely difficult as research is carried out on issues related to
human beings living in society, where such controls are not
possible. Therefore in Hospitality and Tourism, as you cannot
control external factors, you attempt to quantify their impact.
TYPES OF RESEARCH
RESEARCH APPROACHES
QUANTITATIVE/QUALITATIVE RESEARCH
Quantitative
The emphasis of Quantitative
research is on collecting and
analysing numerical data; it
concentrates on measuring the
scale, range, frequency etc. of
phenomena.
This type of research, although
harder to design initially, is usually
highly detailed and structured and
results can be easily collated and
presented statistically.
Qualitative
Qualitative research is more
subjective in nature than
Quantitative research and involves
examining and reflecting on the less
tangible aspects of a research
subject, e.g. values, attitudes,
perceptions.
Although this type of research can
be easier to start, it can be often
difficult to interpret and present the
findings; the findings can also be
challenged more easily.
BASIC/APPLIED RESEARCH
DEDUCTIVE/INDUCTIVE RESEARCH
Deductive
Inductive
Particular Situation
General ideas
Particular situation
Deductive research moves from
General ideas/theories to specific
particular & situations: the
particular is deduced from the
general, e.g. broad theories.
General ideas
Inductive research moves from
particular situations to make
or Infer broad general
ideas/theories.
THEORY
Deductive reasoning
works from the more
general to the more
specific.
Sometimes this is
informally called a
"top-down approach.
Conclusion follows
logically from premises
(available facts)
HYPOTHESIS
Waterfall
OBSERVATIO
N
CONFIRMATI
ON
TENTATIVE
HYPOTHESIS
PATTERN
Observations
Inductive reasoning
works the other way,
moving from specific
observations to
broader
generalizations and
theories.
Informally,, we
sometimes call this a
"bottom up approach
Conclusion is likely
based on premises.
This Research will help managers sense, spot, and deal with
problems before they get out of hand.
DISCUSSION
1. What is Business Research? Explain Characteristics of business
research?
2. Discuss scope of business research?
3. Explain classification of research from three perspectives?
a. Application of research study
b. Objectives in undertaking the research
c. Inquiry mode employed
4. Discuss about Research can be approached in the following
ways:
Quantitative/Qualitative
Applied/Basic
Deductive/Inductive
5. Explain manager role in research and how is it helpful for you?