unit i introduction to business research
TRANSCRIPT
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Unit I – Introduction to Business Research
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“The secret of success is to know something nobody else knows”. - Aristotle Onassis
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• Amway is the leading company using the direct selling concept.
• It has 48 pick up centers where customers can see, touch, feel the products before buying them.
• They also have Local Ordering Centers where products are delivered instead of being picked up.
• To cater to their price-sensitive customers, Amway has developed Indian specific brands and introduced products in multiple pack sizes.
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Kellogg’s Problem
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Challenges of Kellogg’s
• The Indian people were not used to eating
processed food,
• Price sensitive
• Low priced traditional breakfast available to them.
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How Kellogg overcame the challenges?
• By advertising and investing in key brands - products like iron shakti
and calcium shakti were created for iron and calcium fortification
• Kellogg’s products have adapted their products to meet the local
needs
• Lowered prices by localization which reduces import cost
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What is Research?
• Re-search
• To Search Again
• Scientific Investigation
• Systematic Investigation
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Definitions of Research
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“A careful investigation or inquiry specially through search for new facts in any branch of knowledge”.
The Advanced Learner’s Dictionary of Current English
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“Defining and redefining problems, formulating
hypothesis or suggested solutions; collecting,
organizing and evaluating data; making
deductions and reaching conclusions; and at
last carefully testing the conclusions to
determine whether they fit the formulating
hypothesis”. - Clifford Woody
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Business Research
• Business research is the application of the scientific method
in searching for the truth about business phenomena.
• These activities include
– Defining business opportunities and problems,
– Generating and evaluating alternative courses of action,
– Monitoring employee and organizational performance.
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Objectives of Research / Purpose of Research
• To gain familiarity
• To portray accurately the characteristics of a
particular individual
• To determine the frequency
• To test a hypothesis of a causal relationship
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Research Type
Research type is a method to discover information
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Research Types
Applied Research
Basic Research
Descriptive Vs. Analytical
Applied Vs. Fundamental
Quantitative Vs. Qualitative
Conceptual Vs. Empirical
Some Other Types Of Research
One-time Research Or Longitudinal Research
Field-setting / Laboratory /Simulation Research
Historical Research
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Applied Research
• A form of systematic inquiry involving the
practical application of science.
• It employs empirical methodologies
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Basic Research
Basic research also called Pure
Research or Fundamental Research
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Types of Basic Research
• 1. Descriptive Research • 2. Analytical Research• 3. Applied Research• 4. Fundamental Research • 5. Quantitative Research• 6. Qualitative Research• 7. Conceptual Research• 8. Empirical Research
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Descriptive Research (Ex post facto research)
• Used to obtain information relating to the current status of
the event.
• It describes "What Exists"
• It does not answer questions about how/when/why the
characteristics occurred
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Analytical Research
Use facts or information already available
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Applied Research