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Business Research Methods: An Overview

SESSION 1 9/2/2012

Reading material Business Research Methods by Donald R

Cooper and Pamela S Schindler Chapter 1, 2- Introduction to Business

Research

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Research in Business

Why study research?? To study process and tools needed to

reduce risk in managerial decision making ( Goals, decision support, strategy etc.)

Ex. :- New product launch Well-executed research can save a

company from making a costly mistake on new product introductions.

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What is Business Research

A process of planning, acquiring, analyzing and disseminating relevant data and information and insights to decision makers in ways that mobilize the organization to take appropriate actions that, in turn, maximize business performance.

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What is Good Research

1. Purpose clearly defined2. Research process detailed3. Research design thoroughly planned4. High ethical standards applied5. Limitations frankly revealed6. Adequate analysis for decision

maker’s needs7. Findings presented unambiguously 8. Conclusions justified

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The Research Process

The primary purpose of research is to reduce the level of risk of a business decision

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3-7The Business Research Process

SESSION 2,3

Reading material Business Research Methods by Donald R

Cooper and Pamela S Schindler Chapter 3- Research Process

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Stage 1 Clarifying the Research Question

Management-research question hierarchy

Begins with management dilemma

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Management-Research Question Hierarchy

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Formulating the Research

Question

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Types of Management Questions

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The Research Question

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1.Examine variables to be studied and assess whether they are

operationally defined.

2.Review the research questions to break them down into second

and third-level questions.

3.If hypotheses are used, be sure they meet the quality tests.

4.Determine what evidence must be collected to answer the

various questions and hypotheses.

5.Set the scope of the study by stating what is not a part of the

research question.

Investigative Questions

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Performance ConsiderationsPerformance Considerations

Attitudinal IssuesAttitudinal Issues

Behavioral IssuesBehavioral Issues

Stage 2 Proposing Research

Budget Types Rule-of-thumb Departmental Task

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Evaluating the Value of Research

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Option AnalysisOption Analysis

Decision TheoryDecision Theory

Prior or Interim EvaluationPrior or Interim Evaluation

Ex Post Facto EvaluationEx Post Facto Evaluation

The Research Proposal

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Delivery

Legally-bindingcontract

Legally-bindingcontract

ObligationsObligations

Written proposals establish

Written proposals establish

Methods

TimingTiming

BudgetsBudgets

ExtentExtentPurposePurpose

Stage 3

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Designing the

Research Project

Designing the

Research Project

Research Design

Research Design

SamplingDesign

SamplingDesign

Pilot TestingPilot Testing

Stage 4 Data Collection

Data Characteristics Abstractness Verifiability Elusiveness Closeness

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Stage 5 Data Analysis and Interpretation

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Reducing data to manageable sizeReducing data to manageable size

Developing summariesDeveloping summaries

Looking for patternsLooking for patterns

Applying statistical techniquesApplying statistical techniques

Stage 6 Reporting the Results

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Research Report

Research Report

ExecutiveSummaryExecutiveSummary

ResearchOverviewResearchOverview

TechnicalAppendixTechnicalAppendix

ImplementationStrategies

ImplementationStrategies

The Research Overview

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Problem’s backgroundProblem’s background

Summary of exploratory findingsSummary of exploratory findings

Research design and proceduresResearch design and procedures

ConclusionsConclusions

Research Process Issues

The Favored-Technique Syndrome

Company Database Strip-Mining

Unresearchable Questions

Ill-Defined Management Problems

Politically Motivated Research

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Everything must have a beginning !!!!!

Thank you

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