ResearchMethodology Week01

RESEARCH
METHODOLOGY
(Business Research Methods)
Week 1
29 August 2005 MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan 1
How This Course Will Be Conducted
 Comprehensive introduction to Research Methodology (Business Research
Methods)
 Knowledge acquisition and application of subject matter to real-life situations
 Course literature (see the „must read“ section)
 Use of multimedia visual aids (MS PowerPoint slides)
 Reference to case studies when desirable
 Encouragement of questions, comments and constructive criticism from course

participants
 Analytical and critical thinking, inquisitiveness as well as common sense from
course participants also expected
The DO‘s and DONT‘s Catalogue for Course Participants
• listen attentively • be late to class. We start at 6 PM PM

sharp!
• be considerate and amenable
• distract the attention of other course
• be inquisitive, analytical and critical in participants
your approach to learning research
• use mobile phones or send SMS messages
methodology in the class
• mention if you do not understand • follow a rote-learning approach. There is
something and seek clarification zero tolerance for this in all classes taught
• read the prescribed course literature. It at CIIT!
is the basic requirement for • feel afraid to bring up any relevant point for
comprehending research methodology discussion
and succeeding in this course • hesitate to visit me at my office, individually
• start reading from the beginning of or as a group, if you have a course-related
problem and seek counseling in this regard
the course and not towards the end!
Fundamental Course Objectives
• To acquaint course participants with all salient aspects of research methodology in accordance with the current body of
scientific literature on this challenging, interesting and indepensible area of management science
• To show that the subject of research methodology has matured into a substantive body of knowledge, an indepth
understanding of which is crucial for ensuring the success of commercial or non-commercial organizations
• To show and encourage the course participants that the theoretical knowledge acquired in this course can - with the
appropriate context-related modifications - be applied to numerous real-life situations in business, public-sector and non-
profit enterprises
• To stimulate interest in the business research field as a prospective career field
Demands on Course Participants
The essence of knowledge is having it to apply it - Confucius
 Acquisition and careful application of knowledge

 Analytical and critical thinking, innovation, inquisitiveness
 Holistic perspective
• Quizzes & (proof that the course participant is familar with the essentials
Sessionals of research methodology)
• Project Work (each course participant is expected to show that he or she is able to
apply the research skills learned in this course)
• Examination (case study in which each course participant is expected to

demonstrate his or her indepth understanding of research methodology and
apply the knowledge acquired in the course to a real-life situation)
Important Information for Course Participants – (1)
 You MUST read the course literature from the beginning of the semester. Relying on the PowerPoint
slides is NOT sufficient! The purpose of these slides is to provide you with a broad and general
introduction to research methodology. Kindly note that the slides are intended as a supplement to,
and NOT as a substitute for the prescribed course literature
 The prescribed course literature will be used as a reference for the quizzes, sessionals and final
examination. Failure to read and understand the course literature could mean that a course participant
will fail the course! An automatic passing grade in this course is NOT guaranteed, rather, a course
participant‘s marks will reflect his or her effort and performance in the subject
Important Information for Course Participants – (2)
 The project work to be undertaken in this course will be chosen by the course instructor and must be
undertaken by the course participant according to the project guidelines which will be distributed in
paper form seperately. It is essential that primary data is collected, analysed, evaluated and recorded
by the course participant in his or her project report. Plagiarism will NOT be tolerated! If caught, zero
marks will be given
 The course lectures, discussions etc. will be conducted exclusively in english! The use of Urdu
language in this course is strongly discouraged
 Specific questions on the subject of research methodology may be asked from candidates in the Viva
oral examination at the end of their MBA programme. Failure to answer these questions will definitely
result in a deduction of examination marks
Course Highlights
• Introduction to research methodology • Primary and Secondary Data
• Research Terminology and the • Analyzing primary and

Scientific Method
secondary data (quantitative
techniques)
• Designing and implementing a
research project
• Communicating Research
• Ethics in Research Results
• Types of Research
• Undertaking Research Project by
the course participants
• Measurements in Research
Use of Multimedia Visual Aids in this Course
All MS PowerPoint course presentation slides, the

course outline, quizzes, the two sessionals and final
examination (after completion☺) supporting
eDocument files and the course participants’ project
reports will be uploaded to the yahoo webgroup CIIT –
Research Methodology, from where they will be
accessible via Internet to all course participants and
any other scholars or persons in Pakistan or overseas
who are interested in this CIIT – Research
Methodology course
What is Business Research?
• Business 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)
• Systematicness and Objectivity are its

distinguishing features of Business Research,
which is important tool for managers and
decision-makers in corporate and non-corporate
organizations
When is Business Research Used?
Typically, business research methods are used in

situations of uncertainty, that is, when decision-
makers face two or more courses of action and
seek to select the best possible alternative under
the circumstances. Business Research is hence
aimed at improving the quality of decision-making
which, in turn, benefits the organization and helps
ensure its continuity and efficiency
Typical Users of Business Research Methods
• Businesses and Corporations

• Public-Sector Agencies
• Consulting Firms
• Research Institutes
• Non-Governmental Organizations
• Non-Profit Organizations
• Independent Researchers and Consultants
Common Business Research Methods &
Techniques
• Surveys
• Interviews
• Observation
• Experiments
• Archival and Historical Data
• Qualitative Analysis
• Quantitative Analysis
Fields Where Business Research is Often Used – (1)
General Business Conditions and Financial and Accounting Research
Corporate Research
• Forecasts of financial interest rate
• Short- & Long-Range Forecasting, trends,
• • Stock,bond and commodity value
Business and Industry Trends predictions
• Global Environments • capital formation alternatives
• Inflation and Pricing • mergers and acquisitions
• Plant and Warehouse Location • risk-return trade-offs
• Acquisitions • portfolio analysis
Management and Organizational • impact of taxes
Behaviour Research • research on financial institutions
• expected rate of return
• Total Quality Management • capital asset pricing models
• Morale and Job Satisfaction • credit risk
• Leadership Style • cost analysis
• Employee Productivity
• Organizational Effectiveness
• Structural ssues
• Absenteeism and turnover
• Organizational Climate
Fields Where Business Research is Often Used – (2)
Sales and Marketing Research Information Systems Research
• Knowledge and information needs

• Market Potentials assessment
• Market Share • Computer information system use and
• Market segmentation evaluation
• Market characteristics • Technical suppot satisfaction
• Database analysis
• Sales Analysis • Data mining
• Establishment of sales quotas • Enterprise resource planning systems
• Distribution channels • Customer relationship management systems
• New product concepts
• Test markets Corporate Responsibility Research
• Advertising research
• Buyer behaviour • Ecological Impact
• Customer satisfaction • Legal Constraints on advertising and
promotion
• Website visitation rates • Sex, age and racial discrimination / worker
equity
• Social values and ethics
Selected Examples of Real-Life Situations in
Which Business Research Methods are Used
 A 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 feasibility
 A government agency wants to ascertain the satisfaction level of its
employees, the causes for any possible discontent, and propose a scheme
for enhancing this level
 A 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 organization’s priorities
Basic and Applied Research
Basic Research aims to expand the frontiers of science and 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 focusses 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?
Science and the Scientific Method
Science has been defined as “the methodological and systematic
approach to acquisition of new knowledge” (Geoffrey Marcyzk, David
DeMatteo, David Festinger, Essentials of Research Design and Methodology,
John Wiley & Sons, 2005, p. 4)
The scientific method, which has evolved since the 13th century,
concerns the set of tools, techniques and procedures used by
basic and applied researchers to analyze and understand
phenomena and prove or disprove prior conceptions
The Essence of the Scientific Method
Characteristics of the Scientific Method

Elements of the
Objectivity Scientific Method
Systematic Analysis
Logical Interpretation of Results
Empirical Approach
Observations
Questions
Hypotheses
Basic Experiments
General Laws
Research Analysis
Scientific
Method
Conclusion
Replication
Applied Information or
Research Ideas for alternative
Courses of action
The Value of Business Research for Managers – (1)
Reduction of uncertainty and improvement in the quality of decision-making with

several consequent advantages (e.g. strategic, operational) and benefits for
organizations
Business Research Methods can be employed in each of the following four

stages:
(1) Identification of problems and/or opportunities

Useful for strategy planning, analysis of internal and external organizational environment
(2) Diagnosing and Assessment of problems and/or

opportunities
Its 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 priorities
(3) Selection and Implementation of Courses of Action
After alternative courses of action have been

determined, selection of the best possible course.
An important consideration is the quality of

forecasting which is an essential tool of research
(4) Evaluating the Course of Action
Business 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
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:
(1) 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 measures
(2) What are the trends in retail and wholesale sector?

Can research suggest new ways to improve efficiency
in purchase transactions?
When Should Business Research be Undertaken?
Is sufficient time
available?
Yes
Is information
inadequate? NO Do not
undertake Business Research
Yes
High importance
of decision?
Yes
Research benefits
greater than costs? Undertake Business Research
Value and Costs of Undertaking Business
Research
VALUE
COSTS
Decreased Uncertainty Research Costs

Higher Likelihood of Delay in Making
Correct Decisions Business Decisions
Better Business Disclosure of
performance Information to Rivals
Higher Profits Possibility of Error
Better Reputation
The Building Blocks of Research
Blend of information, experience and in-sights that

KNOWLEDGE provides a framework that can be thoughtfully evaluated
when assessing new information or evaluating
relevant situations
Determination of relationship amongst data with a

view to facilitating understanding of the phenomena,
INFORMATION
their relationships and decision-making
(e.g. past and predicted future sales trends)
DATA Measurements of phenomena

(e.g. sales statistics of a department store)
Demands on Data & Information
• Relevance to the problem or situation at hand
• Must be available in a timely manner to the right person (manager or decision-
maker)
• Completeness
• Accuracy
• Accessibility
• Affordability
• Integrateability into a broader global information or decision-support system
Global Information Support Systems
A Global Information System may be defined as “ an
organized collection of computer hardware, communication
equipment, software, data, and personnel designed to
capture, store, update, manipulate, analyze, and immediately
display information about worldwide business activities”
A Global Information System is a tool for providing past,

current and projected information on internal operations and
external activity. It organizes and integrates data from
production, operations, marketing, finance, accounting and
other business functions
(Zikmund, p. 22)
Decision-Support System
• A computer-based system that helps decision makers
confront problems through direct interaction with
databases and analytical software programs
• The purpose of a decision support system is to store data

and transform them into organized information that is
easily accessible to decision-makers
• Decision-Support Systems are integrated in Global

Information Systems. They are aimed usually for assisting
managers and decision-makers in specific organizational
business units (e.g. divisions, departments and functional
areas) by providing organized and adaptable information
Databases & Software
• Databases are collections of raw data which have been

arranged in a logical manner and which can be stored and
processed electronically
• Software are programmes that allow complex operations to

be undertaken on data and which give information for
managers and decision-makers
• Data Warehousing & Data Mining
Data and Information Sources for Business
Researchers – (1)
 Internal Records
Example: Data about costs, shipments, inventory, sales, and other aspects of
regular operations which are collected from various functional areas of an
organization
 Proprietary Business Research
Example: New data and information from projects which are undertaken ad hoc
to study specific company problems
 Business intelligence Systems
Example: Information about nonrecurring developments in the external

business environment stemming from a network of sources and regular
procedures
Researchers – (2)
 On-Line Databases
Examples: PROQUEST, INFOTRAC, DIALOG, LEXIS-NEXIS, Dow Jones News

Retrieval Services, CompuStat
 Internet
Examples: World Wide Web search engines (Google, Yahoo, Altavista, Lycos, Excite
etc.)
 All Other Sources
Examples: Research Institutions, Libraries, Books, Journals, Periodicals,

Newspapers, Chambers of Commerce and Industry
Business Research in the International Context
Business Research is being increasingly applied in an international

context in the wake of globalization and the consequent freedom of
movement of the resources of labour, capital and information of
businesses and corporations:
• Overseas market potential

• Joint ventures and relocating production lines overseas
• Framework considerations for investment and trade (e.g. culture,
legal environment, security, physical infrastructure, availability and
quality of human resources, logistics, political stability, trade and
investment incentives)
Researchers (Pakistan)
• Federal and provincial ministries of commerce, industries and production
• Federal, provincial and city Chambers of Commerce and Industry
• State Bank of Pakistan, Pakistan Banking Council, local and foreign banking
institutions
• Stock Exchanges
• National Investment Board
• Export Promotion Bureau
• Manufacturers, Traders and Exporters Associations
• Research Institutes (e.g. Pakistan Institute of Development Economics)
• Newspapers and Magazines (e.g. Business Recorder, Pakistan and Gulf
Economist)
• Business and Trade Directories
• Internet (e.g.: www.forexpk.com)
Business Recorder
(www.brecorder.com)

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RESEARCH

 Course literature (see the „must read“ section)

 Use of multimedia visual aids (MS PowerPoint slides)

 Reference to case studies when desirable

 Encouragement of questions, comments and constructive criticism from course

• listen attentively • be late to class. We start at 6 PM PM

• To stimulate interest in the business research field as a prospective career field

The essence of knowledge is having it to apply it - Confucius

 Acquisition and careful application of knowledge

• Examination (case study in which each course participant is expected to

• Research Terminology and the • Analyzing primary and

All MS PowerPoint course presentation slides, the

• Business Research may be defined as the

• Systematicness and Objectivity are its

Typically, business research methods are used in

• Businesses and Corporations

• Knowledge and information needs

Basic Research aims to expand the frontiers of science and knowledge by

Example: How does motivation affect employee performance?

Applied Research focusses on a real-life problem or situation with a view to

Example: Should Corporation X adopt a paperless office environment?

Characteristics of the Scientific Method

Reduction of uncertainty and improvement in the quality of decision-making with

Business Research Methods can be employed in each of the following four

(1) Identification of problems and/or opportunities

(2) Diagnosing and Assessment of problems and/or

Its purpose is to gain insight into the underlying

(3) Selection and Implementation of Courses of Action

After alternative courses of action have been

An important consideration is the quality of

(4) Evaluating the Course of Action

Business Research Methods are used after a course

Examples of performance-monitoring research:

(2) What are the trends in retail and wholesale sector?

Decreased Uncertainty Research Costs

Blend of information, experience and in-sights that

Determination of relationship amongst data with a

DATA Measurements of phenomena

A Global Information System is a tool for providing past,

• The purpose of a decision support system is to store data

• Decision-Support Systems are integrated in Global

• Databases are collections of raw data which have been

• Software are programmes that allow complex operations to

• Data Warehousing & Data Mining

 Proprietary Business Research

 Business intelligence Systems

Example: Information about nonrecurring developments in the external

Examples: PROQUEST, INFOTRAC, DIALOG, LEXIS-NEXIS, Dow Jones News

 All Other Sources

Examples: Research Institutions, Libraries, Books, Journals, Periodicals,

Business Research is being increasingly applied in an international

• Overseas market potential

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