BUSINESS RESEARCH:

 DEFINITION: Research is a scientific way of answering questions

and testing hypothesis.
 OBJECTIVES OF RESEARCH: Assessment, Exploration, Evaluation,
Examination, Comparison, Estimation and Propagation.
Referencing:
DEFINITION: Referencing styles. A referencing style is a set of rules
telling you how to acknowledge the thoughts, ideas and works of others
in your research assignment. Referencing is a crucial part of
successful academic writing, avoiding plagiarism and is key to your
assignments and research.

*Plagiarism: Plagiarism is a thought such use other work in your

research and claim own.

*Referencing Style: APA-American Psychological Association, MLA-Modern

Language Association, Harvard, Chicago and Oxford.

Types of Referencing:
1. In-Text Referencing 2. End
Referencing

 In Text Referencing: An in-text reference includes when you refer to

summarize or quote from another source in your research assignment.
For every in-text reference in your paper, there must be a
corresponding entry in your reference list.
APA in-text citation style uses the author's last name and the year
of publication, for example: (Field, 2005)

(i)- Single Author Reference: (Name, Year)

Several researchers recognize that establishing new firms is embedded
in social and emotional contexts, where social networks are important,
as well as the market (Borch,1994)

(ii)- Double Authors Reference: (Names, Year)

Economic environments with high establishment rates are conducive to
entrepreneurship through the creation of new markets and activities
(Bygrave and Minniti, 2000).

(iii)- More than two Authors Reference: (Name, et al., Year)

Entrepreneurs use their social relations to get the resources they
need to launch a business. (Cooper, et al., 1995)

(iv)- More than one Year Reference by one Author: (Name, Year, Year,
Year)
The entrepreneurial networks based on the advantage of low information
redundancy in networks (Burt, 1992, 1997)

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 End Referencing: An End text reference is alphabetically enlisting at
the end of the research paper with complete information of relative
source which corresponding reference used as an in-text referencing.

(i)- Single Author Reference: (Name, Year, Title, Research

Journal/Publisher)
Boissevain, J. (1974): Friends of Friends, Networks, Manipulators and
Coalitions. Oxford: Basil Blackwell

(ii)- Single Author + Volume: (Name, Year, Title, Research Journal,

Volume No. & Page No. “Edition”)
Bolcic, S. (1997/1998): Entrepreneurial Inclinations and New
Entrepreneurs in Serbia in the Early 1990s. International Journal of
Sociology, 27(4), 3-35.

(iii)- University Reference: (Author Name, Title, Journal Name,

University, Place, Publisher)
Burt, R. (1992): Structural holes. The social structure of competition.
Cambridge, Massachusetts: Harvard University Press

(iv)- Book Reference: (Author Name, Title, Journal Name, University,

Place, Publisher)
“Economics is a study of mankind in the ordinary business of life.”
Mankiw, N.G., (2018): Principles of Economics-7e, USA, Cengage
Learning.

(v)- More than one authors Reference: (Authors Name, Title, Journal
Name, University, Place)
Aldrich, H., Rosen, B. and Woodward, W. (1986): A social role
perspective of entrepreneurship: Preliminary findings from an
empirical study. Chapel Hill: Department of Sociology, University of
North Carolina at Chapel Hill.

(vi)- Conference Proceedings Reference:

(Author Surname, Year of publication, 'Title of paper' presented,
Conference, Place of conference, date held month Year)
Aldrich, H., Rosen, B. and Woodward, W. (1987): The impact of social
networks on business founding and profit: A longitudinal study. Paper
presented at the Babson Entrepreneurship Conference, Malibu,
California.
(vii)- Website Reference: (Author Surname, Year, Title, Website)
Ahmad, B. (2005). Technology and immediacy of information. [On
line] Available http://www.bnet.act.com

Research Methodology
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 *By Mean:
 The science of studying how research is done scientifically.
 Systematically solve the research problem by logically adopting
various steps.
 Methodology helps to understand, identify, test and investigate
research problem.
 Helps to identify research philosophy such as how to acquire data
and analyze

*Research Philosophy:
 A research philosophy is a belief about the way in which data
about a phenomenon should be gathered, analyzed and used.
 How to use suitable method in research such as qualitative or
quantitative research.

*How to collect data for research?

 Population: Collection of all possible observations relative to
research.A research population is also known as a well-defined
collection of individuals or objects known to have similar
characteristics. All individuals or objects within a certain
population usually have a common, binding characteristic or trait.
 Sample: Collection of small part of population with the expectation
of suitable data for research.A subset of the population you are
studying that is selected for the actual research study.The sample
should be representative of the population to ensure that we can
generalize the findings from the research sample to the population
as a whole.
 Sampling Frame: A sampling frame is a accurate list of all the
items in your population. It's a complete list of everyone or
everything you want to study. The difference between a population
and a sampling frame is that the population is general and the
frame is specific.

Sampling Techniques:
 There are to major type of sampling techniques in research.
1- Non-Probability 2. Probability

Non-Probability Sampling (Use-60%) Probability Sampling (Use-40%)

Non-probability sampling is a sampling Probability sampling is a sampling

technique where the samples are technique where the samples are
gathered in a process that does not gathered in a process that give all
give all the individuals in the the individuals in the population
population equal chances of being equal chances of being selected.
selected.

 Convenience Samplings  Simple Random Sampling

 Purposive Sampling  Systematic Random Sampling

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 Snow-Ball Sampling  Cluster Sampling

 Quota Sampling  Stratified Sampling

1- Convenience Sampling Technique or Availability Sampling:

Convenience sampling is a non-probability sampling technique where

subjects are selected because of their convenient accessibility and
proximity to the researcher.
Convenience sampling (also known as availability sampling) is a specific
type of non-probability sampling method that relies on data collection
from population members who are conveniently available to participate
in study.
It is also known as grab sampling, accidental sampling or opportunity
sampling.
Use: The students of a class for sports event in college. Or Use of
members of the organization for social work.

Best use when you cannot proactively seek out subjects.

2- Purposive Sampling Technique:

Purposive sampling is a non-probability sampling technique in which

researcher relies on his or her own judgment when choosing members of
population to participate in the study.
Purposive sampling also known as judgment, selective or subjective
sampling.
Use: Sample of those students who are given “A” grade in Financial
Management. Use to looking for those elements or members which are meet
certain criteria of research objective.

Best use when you are expert about that there is no other choice.

3- Snow-Ball Sampling Technique:

Purposive sampling is a non-probability sampling technique where

existing study subjects recruit future subjects from there contacts. The
sample group grows like a rolling snowball: The first respondent refers
a friend, the friend also refers a friend, and so on.
Snow-Ball sampling also known as chain sampling, chain-referral sampling
or referral sampling.
Use: Acquiring information from Branch Managers of Meezan Bank’s
branches in Lahore refers to managers of others Islamic Banks.

Best use when you are ethically and socially able to ask and seek
similar subjects.

4- Quota Sampling Technique:

Quota sampling is a non-probability sampling technique where in the

researcher ensure equal or proportionate representation of subjects,
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depending on which trait is considered as the basis of the quota. The
bases of the quota are usually age, gender, education, race, religion
and socio-economic status.
Use: A researcher might ask for a sample of 100 females, or 100
individuals between the ages of 20-30.
Best use when you access to wide population.

1- Simple Random Sampling Technique:

Simple random sampling is a probability sampling technique where we

select a group of subjects (a sample) for study from a larger group (a
population). Individual is chosen entirely by chance and each member of
the population has an equal chance of being included in the sample.
Use: An example of a simple random sample would be the names of 25
employees being chosen out of a hat from a company of 250 employees.
Best use when whole population is available.

2- Systematic Sampling Technique:

Systematic sampling is a probability sampling technique in which members from a larger population are
selected according to a random starting point and a fixed periodic
interval. This interval, called the sampling interval, is calculated by
dividing the population size by the desired sample size.
Use: An example of a systematic random sample would be the slection of
every 5th player form domestic football teams for intermational event.
Best use when a stream of representative people are availabales.

3- Cluster Sampling Technique:

Cluster sampling is a probability sampling technique in which the

researcher divides the population into separate groups, called clusters.
Then, a simple random sample of clusters is selected from the population.

Use:

 Cluster “A”: 100 Students of HCB&F, Male & Femail, Evening

Classes, MBA & BBA, B&F & IRM, 10 each.
 Cluster “B”: 100 Students of HCB&F, Male & Femail, Morning
Classes, MBA & BBA, B&F & IRM, 10 each.

Best use when population groups are separated and access to all is
difficult.

4- Stratified Sampling Technique:

Stratified sampling is a probability sampling technique in which the

researcher divides the population into separate subgroups, called
starta. then randomly selects the final subjects proportionally from the
different strata.

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Use: Starta “HCB&F”: Students of HCB&F, Male & Femail, Evening &
Morning Classes, MBA & BBA, B&F & IRM, 10 each.

Best use when we want to investigate specific group.

Convenience Sampling Purposive

Sampling

Snow-Ball Sampling Quota

Sampling

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 PROBABILITY SAMPLING
ADVANTATDES DIS- ADVANTATDES

 It is a cost-effective  Probability sampling depend on

technique; the process need sampling frame which is
less cost for sampling. difficult to manage.
 Probability sampling does not  Never generalize as non-
involve any complex and long probability sampling.
process. Thus, this is an
easier way for sampling.
 It can be done by any non-
technical person.
 This process is a simple and
short process. This takes
lesser time to complete. The
saved time can be used for
analysis and interpretation.
 Better technique as compare to
non-probability sampling
technique.

Research Methodology & Sample Size Determination:

 Sample size determination is the act of choosing the number of

observations to include in a statistical sample. The sample size is
an important feature of any empirical study in which the goal is to
make interpretations about a population from a sample.

o Qualitative Research:

Conceptual: Qualitative Research is concerned with understanding

human behavior form the information’s prospective.

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 It’s a subjective type research base on open ended
negotiated reality.
Used to discover ideas, Exploration the general
research objectives.
Methodological: Data are collected through participant observation
and interviews.
Unstructured & Free Form of research.
Reporting: Data are reported in informative language.
Often small sample size.
Sample Size Normally in qualitative research sample size is
Determination: between 8 to 15 which is based on the data redundant.
In qualitative research we collect data up to data-
redundant/repetition when no new knowledge is
acquiring from participant of the population.
*If research problem has maximum questions than use minimum
sample size. 30 x 5 = 150
*If research problem has minimum questions than use maximum
sample size. 5 x 15 = 75

o Quantitative Research:

Conceptual: Qualitative Research is concerned with test hypothesis

and research questions.
Qualitative research concerned with discovering facts
about social phenomena.
Its an objective type research based on closed ended
question.
It is also called explanatory research.
Methodological: Data are collected through measuring things.
Data are analyzed through numerical comparisons and
statistical inferences.
Structured & Categorized research.
Reporting: Data are reported through statistical analysis.
Large sample to produce generalizable research.
Reporting of data based on measuring and testing the
data.
Sample Size Determining the sample sizes involve resource and
Determination: statistical issues. Usually, researchers regard 100
participants as the minimum sample size when the
population is large. However, in most studies the
sample size is determined effectively by two factors:
(1) the nature of data analysis proposed and (2)
estimated response rate.
In quantitative research there are two theories to
determination the sample size as following:
(i)- Rule of Thumb Theory: According to the
statistical power the statistician and researcher used
minimum size of sample is 200 or maximum sample size
is 500.
(ii)- Item Response Theory: In this theory the sample
size determined by the subject of research.
Such as, if you research on the job satisfaction of
those employee who working in Habib Bank Limited-
Islamic Banking in Lahore. It is depending on the
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 Islamic Banking Branches of the Habib bank Limited in
Lahore. Spouse, HBL have only 150 Islamic Banking
Branches then sample size is 150 for quantitative
research.
How to collect data in research?
o Qualitative Data and Quantitative Data Collection:
“Qualitative data is descriptive information about characteristics
that are difficult to define or measure or cannot be expressed
numerically. qualitative data, that is in narrative rather than
numerical form.”
 It tends to be open-ended and have less structured. Qualitative →
Qualities
 Data collection in a qualitative study takes a great deal of time.
 Interviews and focus groups are the most common methods of data
collection used in qualitative research. One to One, Penal
Interview, Electronic Interview. Interviews can be used to explore
the views, experiences, beliefs and motivations of individual
participants.
 Observation, the action or process of closely observing or
monitoring something or someone another method for qualitative data
collection.
 Survey, a general view, examination, or description of someone or
something.
 Documents Review, Reading or examining the literature related to
the research subject.

o Quantitative Data and Quantitative Data Collection:

“Quantitative data is numerical information that can be measured

or counted.”
 Use numerical and statistical processes to answer specific
questions. Statistics are used in a variety of ways to support
inquiry or program assessment/evaluation.
 In quantitative research we asked only close-ended questions for
acquiring the research data and produced results are easy to
summarize, compare, and generalize.
 Questionnaire is best technique for acquiring data in quantitative
research. Which is based on objective type questions with suitable
answers. Where participant simply read/choose answers from the
appropriate options. “Freedom in asking questions”

o Primary Data:
 Primary data is information that you collect specifically for your
research project. An advantage of primary data is that it is
specifically tailored to your research needs. A disadvantage is
that it is expensive to obtain.
o Secondary Data:
 Secondary data refers to data that was collected by someone other
than the user. Common sources of secondary data for social science
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 include censuses, information collected by government departments,
organizational records and data that was originally collected for
other research purposes.

“Questionnair”

 Questionnaire is best technique for acquiring data in quantitative

research.
 A set of printed or written questions with a choice of answers,
developed for the purposes of a survey or statistical study.
“Limitation in asking questions”
 A questionnaire is a research instrument consisting of a series of
questions for the purpose of gathering information from
respondents.
Paper Pencil test, Computer based, Telephonic or etc.

TYPES OF QUESTIONNAIR DATA & MEASUREMENT SCALES:

NOMINAL, ORDINAL, INTERVAL AND RATIO

1- Nominal Scales:
Nominal questionnaire scales pertain the answering options which
are mutually exclusive and exhaustive. Mutually exclusive means
answering options are different from each other’s. Exhaustive mean
every answering options have a complete answer to the question.
Example: What is your marital status?
o Single
o Married

2- Ordinal Scales:
Ordinal questionnaire scales which don’t having the answering
options of mutually exclusive and exhaustive. It is rank in a
particular order which are associated or linked each other. Non-
Mutually exclusive means answering options are never-different from
each other. Exhaustive mean every answering options nor have a
complete answer to the question. (Education, Income, Time, Age,
Population, Hight)
Example: What is your education?
o Matriculation
o Intermediate
o Graduation
o Masters
3- Intervals/Likert Scales:
Interval questionnaire scale which is used to measure attitudes or
opinions of respondents towards the Likert questions. Which is used
to allow the individual to express how much they agree or disagree
with a particular statement.
Example: Are you satisfied with your salary & benefits in this job?
o Agree
o Strongly Agree Positive Rang
o Neutral Interval
o Dis-agree
o Strongly Dis-agree Negative Rang

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 Five Points Likert Scale: 5 Answering Options

Seven Points Likert Scale: 7 Answering Options Odd Points

Likert Scales

Nine Points Likert Scale: 9 Answering Options

4- Ratio Scales:
Ratio questionnaire scale pertain the answering options in form of
percentage (%).
Ratio scale has all the characteristics to make it a
pure scale especially for the research related to pure
sciences. Ratio scale has all the characteristics of
interval scale plus the additional benefit that it has a well-
defined zero. It also considers the ratios between different values
of the variables.
Example: What is percentage of male & female in class?
o 20% Male, 80% Female
o 80% Male, 20% Female
o 50% Male, 50% Female
o 70% Male, 30% Female

Statistics:
Statistics is a mathematical body of science that pertains to the
collection, analysis, interpretation or explanation, and presentation of
data, or as a branch of mathematics.

1- Descriptive Statistics:
Descriptive statistics are used to describe the basic features of
the data in a study. Its purpose to explain the sample and
population. Measurement of Central Tendency & Measurement of
Dispersions. (Mean, Median, Quartiles, Deciles, Mod, SD, MD)
In descriptive statistics the questions are designed on bases of
nominal & ordinal scales.
2- Inferential Statistics:
Inferential statistics are used to measure the
inference/Relationship/Links between the variables of the sample
and population. (Correlation, Regression)
Inferential statistics analyze only interval scales and never
analyze the Ordinal & Nominal scales. The questions which are
designed according to the research constructs, confidently based
on interval scales otherwise you cannot used correlation and
regression.

How to develop a questionnaire in quantitative Research?

Complete data required, Valid and reliable

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Types of Qualitative Research
1. Case Study:
The case study provides an in-depth description of a single unit.
The “unit” can be an individual, a group, a site, a class, a policy,
a program, a process, an institution, or a community. Case studies
can be explanatory, exploratory, or describing an event.
For example,
A case study of how an inland revenue department develop rules to
generate more revenue in term of taxes form registered and non-
registered taxpayers.
Data Collection Techniques:
Case study may employ multiple methods of data collection and don’t
rely on a single technique such as Testing, Interviewing,
Observation, Review of documents, Artifacts and others.
2. Ethnography:
Ethnography is the systematic study of people and cultures.
Ethnography is the in-depth study of naturally occurring behavior
within a culture or entire social group. It seeks to understand
the relationship between culture and behavior, with culture
referring to the shared beliefs, values, concepts, practices, and
attitudes of a specific group of people.
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 “What are the cultural patterns and perspectives of this group in
its natural setting?” is the underlying question addressed in
ethnography.
Characteristics of good ethnography:
(1) Extended participant observation;
(2) Long time at the site;
(3) Collection of large volumes of materials such as notes,
artifacts, audio, and videotapes;
(4) Openness, which means having no specific hypotheses or even
highly specific categories of observation at the start of the
study.
For example, one way of uncovering the unmet needs of customers is
to “follow them home” and observe them as they interact with the
product.
Data Collection Techniques:
Interviewing, document analysis, participant observations,
research diaries, and life stories
3. Phenomenological:
Phenomenological study is an appropriate qualitative method when
you want to describe an event, activity, or phenomenon. In a
phenomenological study, you rely on the participants’ own
perspectives to provide insight into their motivations. Qualitative
phenomenological research is to describe a "lived experience" of a
phenomenon.
Phenomenology is a school of thought that emphasizes a focus on
people’s subjective experiences and interpretations of the world.
The key question is “What is the experience of an activity or
concept from the perspective of particular participants?”
Like other qualitative methods, you don’t start with a well-formed
hypothesis. In a phenomenological study, you often conduct a lot
of interviews, usually between 5 and 25 for common themes, to build
a sufficient dataset by emerging themes and to use other
participants to validate your findings.

For example,
What are the major problems faced by the evening students?
What are the public face difficulties in public sector hospitals
during treatment?
What are the impacts of use social media on society?
Data Collection Techniques:
Conducting interviews, reading documents, watching videos, or
visiting places and events, to understand the meaning and examined
participants place.
4. Grounded Theory:
Whereas a phenomenological study looks to describe the core of an
activity or event, grounded theory looks to provide an explanation
or theory behind the events. Grounded theory refers to an inductive
process of generating theory from data. This is considered ground-
up or bottom-up processing. Conduct when you want to present theory
after exploring the knowledge such as presenting new relationships
or explanation of relationship.
For conducting grounded theory, you need to read the all available
literature related to subject. Grounded Theory required large

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 number of related knowledge and need to be tested in future. If it
proves true, then it converts into “Law”.
Data Collection Techniques:
You use primarily interviews and existing documents to build a
theory based on the data. You go through a series of open and axial
coding techniques to identify themes and build the theory. Sample
sizes are often also larger—between 20 to 60—with these studies to
better establish a theory.
Secondary data is best way to collect data for grounded theory.
For example, a grounded theory study could involve understanding;
How software developers use portals to communicate and write code?
How small retail merchants approve or decline customers for credit?

Method Focus Sample Size Data Collection

Ethnography Context or culture — Observation & interviews

People who have

Phenomenological 5 to 25 Interviews
experienced a phenomenon

Develop a theory from Interviews, then open and

Grounded Theory 20 to 60
grounded in field data axial coding

Organization, entity, Interviews, documents,

Case Study —
individual, or event reports, observations

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