CHAPTER-1

INTRODUCTION
TO
BUSINESS RESEARCH

RESEARCH METHODOLOGY CONCEPTS AND CASES

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What is research?

Management research is an unbiased,

structured, and sequential method of enquiry,
directed towards a clear implicit or explicit
business objective. This enquiry might lead to
validating existing postulates or arriving at
new theories and models.

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Types of research
BUSINESS RESEARCH

BASIC RESEARCH APPLIED RESEARCH

EXPLORATORY CONCLUSIVE RESEARCH

RESEARCH

DESCRIPTIVE RESEARCH CAUSAL RESEARCH

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Types of research

 Basic research : the basic premise is the need

to KNOW and the concern is primarily academic
in nature.

 Applied research: Solution or action oriented

research, that is contextual and practical in
approach.

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Types of research

 Exploratory research is loosely structured and the

basic premise is to provide direction to subsequent,
more structured method of enquiry.

 Conclusive research is structured and definite in

orientation. These studies are usually conducted to
validate formulated hypotheses and specified
relationships.

RESEARCH METHODOLOGY CONCEPTS AND CASES


Exploratory vs Conclusive Research
EXPLORATORY RESEARCH
 Loosely structured in design
 Are flexible and investigative in
methodology
 Do not involve testing of hypotheses
 Findings might be topic specific and
might not have much relevance outside
the researcher’s domain
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CONCLUSIVE RESEARCH
 Well structured and systematic in
design
 Have a formal and definitive
methodology that needs to be followed
and tested
 Most conclusive researches are carried
out to test the formulated hypotheses
 Findings are significant as they have a
theoretical or applied implication.
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Conclusive research

 Descriptive research: The main goal of this type

of research is to describe the data and
characteristics about what is being studied.

 Causal research: Explores the effect of one or

more variables on other variable(s), with
reasonable level of certainty by controlling the
impact of other influencing variables.

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The research process

Management Dilemma
Basic vs Applied

Defining the Research Problem

Formulating the Research Hypothesis

Developing the Research Proposal

The Research Framework

Research Design

Data Collection Plan Sampling Plan

Instrument Design

Pilot Testing

Data Collection

Data Refining and Preparation

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

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The research process

 The management decision problem

 Defining the research problem

 Formulation of the working hypotheses

 Construction of the research proposal

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The research process

 Formulating the research design

 Sampling considerations

 Collecting the data for the study

 Data analysis and interpretation of findings

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Research applications in marketing

 Market & consumer analysis

 Product research

 Pricing research

 Promotional research

 Place research

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Research applications in finance

 Asset pricing, capital markets and corporate finance

 Financial derivatives and credit risk modeling research

 Market-based accounting research

 Auditing and accountability

 Other areas: financial forecasting, behavioural finance,

volatility analysis

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Research applications in
human resources
 Training & development studies

 Selection and staffing studies

 Performance appraisal–design and evaluation

 Organization planning and development

 Incentive and benefits studies

 Emerging areas–critical factor analysis, employer

branding studies
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Research applications in
production & operations management
 Operation planning and design

 Demand forecasting and demand estimation

 Process planning

 Project management and maintenance effectiveness

studies
 Logistics and supply chain-design and evaluation

 Quality estimations and assurance studies

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Criteria for research

 MUST have: a clearly stated research purpose/ objective

 MUST have: a sequential plan of execution

 MUST have: a logical and explicitly stated justification for

the selected methods
 MUST have: an unbiased and neutral method of conduct
and reporting
 MUST have: complete transparency and ethical conduction
of the research process
 MUST have: provision for being reliable & replicable

RESEARCH METHODOLOGY CONCEPTS AND CASES

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RESEARCH METHODOLOGY CONCEPTS AND CASES