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Chapter OneRESEARCH IN BUSINESS
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What is Research?
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What is Research?
- A systematic inquiry whose objective is to
provide information to solve problems.
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What is Business Research?
A systematic inquiry whose objective is toprovide information to help management
to make decision in business sector
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Terminology
Methods :- The techniques and procedures used to obtain data
Methodology :- The theory of how research should be undertaken
Research Method: all those methods/techniques that are used for
conduction of research.
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Scientific Method
Scientific Method:
A systematic way used by scientist to solve the
problems
Criteria:
Based on facts
Free from bias
Analytic
Hypotheses
Objective measure
Quantitative technique
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Why Study Research?
Research provides you with the knowledgeand skills needed for the fast-paced
decision-making environment
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Why Managers need Better Information?
Global and domestic competition is morevigorous
Organizations are increasingly practicing
data miningand data warehousing
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The Value of Acquiring Research Skills
To gather more information beforeselecting a course of action
To do a high-level research study
To understand research design
To evaluate and resolve a current
management dilemma
To establish a career as a research
specialist
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Types of Studies Used to do Research
Reporting study:
provides a summation of data, often recasting data toachieve a deeper understanding or to generate statistics for
comparison.
Descriptive study:
tries to discover answers to the questions who, what, when,
where and sometimes, how. The researcher attempts todescribe or define a subject, often by creating a profile of a
group of problems, people, or events.
Explanatory study:
attempts to explain the reasons for the phenomenon that thedescriptive study only observed
Predictive study:
attempts to predict when and in what situations an event will
occure
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What is Good Research?
Following the standards of the scientificmethod
Purpose clearly defined
Research process detailed
Research design thoroughly planned
Limitations frankly revealed
High ethical standards applied
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What is Good Research? (cont.)
Adequate analysis for decision-makers needs
Findings presented unambiguously
Conclusions based on the result of
data analysis
Researchers experience reflected
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The Manager-Researcher Relationship
Managers obligations Specify problems
Provide adequate background information
Access to company information gatekeepers
Researchers obligations
Develop a creative research design
Provide answers to important businessquestions
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Manager-Researcher Conflicts
Managements limited exposure toresearch
Manager sees researcher as threat to
personal status
Researcher has to consider corporate
culture and political situations
Researchers isolation from managers
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Type of Research
1. Descriptive vs Analytical
2. Applied vs Fundamental
3. Quantitative vs Qualitative
4. Conseptual vs Empirical
5. Others:
- One time vs longitudinal
- Field vs laboratory
- Exploratory vs formalized- Historical
- Conclusion oriented vs decision oriented
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Reasoning
1. Deduction :
Form of argument that purports to be conclusive
the conclusion must necessarily follow from the
reason given.
Drawing a conclusion from general to specific
Example:
All mortal will be dead.
Human being is mortal.
Plant is mortal.
Animal is mortal.
So, human being, plant and animal surely will be dead.
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Reasoning
2. Inductiondraw a conclusion from one or more particular facts
or pieces of evidence.
draw a conclusion from something particular to
general.
Example:
Iron will melt if heated
Gold will melt if heated Tin will melt if heated
Iron, gold and tin are metal
So, all metal will melt if heated