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5 September MS (Research
RESEARCHMETHODOLOGY(Introduction)
5 September(Research Methodology) Course Slides Developed by Dr. Aurangzeb Course Instructor: Dr.Imran Naseem 11
Week 1.2
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5 September MS (Research
When is Business Research Used?
Typically, business research methods areused in situations of uncertainty, that is, whendecision-makers face two or more courses of
action and seek to select the best possiblealternative under the circumstances. BusinessResearch is hence aimed at improving thequality of decision-making which, in turn,benefits the organization and helps ensure itscontinuity and efficiency
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Typical Users of Business ResearchMethods
Businesses and Corporations
Public-Sector Agencies
Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants
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Common Business Research Methods &Techniques
Surveys
Interviews
Observation
Experiments
Archival and Historical Data
Qualitative Analysis
Quantitative Analysis
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Fields Where Business Research is OftenUsed (1)
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General Business ConditionsandCorporate Research
Management and OrganizationalBehaviour Research
Financial and AccountingResearch
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Fields Where Business Research is OftenUsed (2)
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Sales and Marketing ResearchInformation Systems ResearchCorporate Responsibility
Research
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Selected Examples of Real-LifeSituations in Which Business Research
Methods are Used
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Launch of New Product
Opening of an outlet
Enhancing the employee satisfaction level
Making an Investment
SWOT-Analysis as to redefine organizations priorities
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Basic and Applied Research
Basic Research?
Applied Research?
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Science and the Scientific Method
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Science ?The scientific method?
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The Essence of the Scientific Method
1010
Characteristics of theScientific Method
Objectivity
Systematic AnalysisLogical Interpretation of
Results
Ele
m entsofthe
Scie
n tificMethod
EmpiricalApproach
O
bservat ions
Questions
H
ypothese
s
E
xperimen
ts
Analysis
Conclusion
Repl icati on
BasicResearch
AppliedResearch
Scientific
Method
Informationor
Ideas foralternative
GeneralLaws
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The Value of Business Research for Managers (1)
Reduction of uncertainty andimprovement in the quality of decision-making with several consequentadvantages (e.g. strategic, operational)
and benefits for organizations
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Business Research Methods can beemployed in each of the following four
stages:1. Identification of problems and/or opportunities2. Diagnosing and Assessment of problems
and/or opportunities
3. Selection and Implementation of Courses ofAction4. Evaluating the Course of Action
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When Should Business Research beUndertaken?
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Issufficient
timeavailable
?Is
information
adequate?High
importanceof
decision?Researchbenefits
greaterthan
Ye
s
Yes
Yes Undertake Business
Research
NO
Do notundertake Business
Research
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Value and Costs of UndertakingBusiness Research
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VALUE
DecreasedUncertainty
HigherLikelihood ofCorrectDecisions
BetterBusiness
performance
COSTS
Research Costs
Delay inMaking
BusinessDecisions
Disclosure ofInformation toRivals
Possibility of
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The Building Blocks of Research
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Measurements of phenomena(e.g. sales statistics of a department store)
DATA
Determination of relationship amongst datawith a
view to facilitating understanding of thephenomena,
their relationships and decision-making(e.g. past and predicted future sales trends)
INFORMATION
KNOWLEDGE
Blend of information, experience and in-sightsthat
provides a framework that can be thoughtfullyevaluated
when assessing new information or evaluatingrelevant situations
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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)
CompletenessAccuracy
Accessibility
Affordability
Integrateability into a broader global information or
decision-support system
5 September (Research Methodology) CourseInstructor: Dr. Imran Naseem
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Global Information Support SystemsDecision-Support SystemDatabases and Software
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Data and Information Sources for
Business Researchers Internal Records
Proprietary Business Research
Business intelligence Systems
On-Line Databases
Internet
All Other Sources
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Business Research in the InternationalContext
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)
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Data and Information Sources forBusiness 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 Directories5 September MS (Research Methodology) Course 2020
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5 September MS (ResearchBusinessRecord
er
(www.br
ecorder.com)
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