Chapter Objectives

Define the concept of research

Scope of Business Research
Business Research Defined
Explain the Qualities of Good Research Process
Explain the Goals of research
Discuss the Motivations in doing research
Describe the difference between research methodologies
and research methods
Discuss the processes of research
Discuss the different types of research
Ethics and Business Research
What is Research
It is an investigation of finding solutions to scientific
and social problems through objective and systematic
analysis.
Research is an organized and systematic way of
finding answers to questions.
Research is a systematic, controlled, empirical and
critical method consisting of enumerating the
problem, formulating a hypothesis, collecting the facts
or data, analyzing the facts and reaching certain
conclusions either in the form of solutions toward the
concerned problem or in certain generalizations for
some theoretical formulation.
What Research Is Not
Research isn’t information gathering:
 Gathering information from resources such as books
or magazines isn’t research.
No contribution to new knowledge.
Research isn’t the transportation of facts:
Merely transporting facts from one resource to
another doesn’t constitute research.
No contribution to new knowledge although this
might make existing knowledge more accessible.
Scope of Business Research
The scope of business research is limited by
one’s definition of “business”. Certainly
research in the production, finance, marketing,
or management areas of a for-profit corporation
is within the scope of business research.
A broader definition of business, however,
includes not-for-profit organizations.
Business research may be conducted by
organizations that are not business
organizations.
Cont’d
Business research covers a wide range of
phenomena.
For managers the purpose of research is to
fulfil their need for knowledge of the
organization, the market, the economy, or
another area of uncertainty. A financial
manager may ask, “How to form optimal
capital structure of the company?’’
Business Research Defined
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 ideas, monitoring
performance, and understanding the business
process.
Cont…
• Business research is more than conducting
surveys. This process includes:
Idea and theory development,
Problem definition,
Searching for and collecting information,
Analyzing data, and
Communicating the findings and their
implications
Cont…
This definition suggests that research
information is neither intuitive nor
haphazardly gathered rather it must be
accurate and objective. Literally, research
(re-search) means to “search again”. It
connotes patient study and scientific
investigation wherein the researcher takes
another, more careful look at data to
discover all that can be known about the
subject of study.
 WHEN IS BUSINESS RESEARCH NEEDED?

 When a manager faced with two or more possible

courses of action to decide; he/she faces the initial

decision of whether or not research should be
conducted.

 The determination of the need for research centres

on (1) time constraints, (2) the availability of data, (3)

the nature of the decision that to be made, and (4) the
value of the business research information in relation
to its costs.
Characteristics of (Good) Research
To qualify as a research, a process must have certain
characteristics as listed below:
 A. Organized in that there is a structure or
method in going about doing research. It is a
planned procedure, not a spontaneous one. It
should be focused and limited to a specific
scope.
 B. Systematic because there is a definite set of
procedures and steps which you will follow.
C. Rigorous
The research procedures followed to find answers to
questions should be relevant, appropriate and
justified.
D. Critical
The methods employed and procedures used should
be critically scrutinized.
The process of investigation must be foolproof and
free from any drawbacks.
The process adopted and the procedures used must be
able to withstand critical scrutiny.
E. Valid and verifiable
This concept implies that whatever you conclude on
the basis of your findings should be correct and can be
verified by you and others.
The research procedure used should be described in
sufficient detail to permit another researcher to repeat
the research for further advancement, keeping the
continuity of what has already been attained.
 F. Controlled
In exploring the causality relation to two variables, the
study must be set in way that minimizes the effects of
other factors affecting relationship.
In social science research, however, since controlling is
almost impossible, the effect of the other variable must be
quantified rather.
G. Empirical
This means that any conclusions drawn are based upon
hard evidence gathered from information collected from
real life experiences or observations.
 Goals of Scientific Research
The purpose of scientific research is problem solving –
i.e. Seeking solutions to practical or theoretical
problems and it involves:
Describing phenomena/pictorial account of the
phenomena
Explaining phenomena/cause -and -effect relationships/
Predicting phenomena/predicting what will happen in
the future/.
Comparing phenomena/comparing 2 or more groups on
a certain behavior or even within the same group.
Motivations in Doing Research
What makes people to undertake research?
The possible motives for doing research may be either
one or more of the following among others:
A. Desire to get a research degree along with its
consequential benefits like better employment,
promotion, increment in salary, etc.
Cont’d
b. Desire to face the challenges in solving the unresolved
problems, i.e., concern over practical problems;
c. Desire to get intellectual joy of doing some creative
work;
d. Desire to be of service to society; and
e. Desire to get respectability.
The Difference between Research Method and
Research Methodology
A method is a particular research technique or way to
gather evidence about a phenomenon.
Methods are the specific tools to gather data such as
surveys, interviews, participant observations.
Methodology describes “the theory of how inquiry
should proceed”
Methodology encompasses our entire approach to
research – how we design and implement research
studies.
Cont’d
Research methodology has many dimensions and research
methods do constitute a part of the research methodology.
The scope of research methodology is wider than that of
research methods.
Thus, when we talk of research methodology we not only
talk of the research methods but also consider the logic
behind the methods we use in the context of our research
study and explain why we are using a particular method or
technique and why we are not using others so that research
results are capable of being evaluated either by the
researcher himself or by others.
Cont’d
Why a research study has been undertaken, how
the research problem has been defined, in what way
and why the hypothesis has been formulated, what
data have been collected and what particular
method has been adopted, why particular technique
of analyzing data has been used and a host of
similar other questions are usually answered when
we talk of research methodology concerning a
research problem or study.
The Research Process
Research process consists of series of actions or
steps necessary to effectively carry out research
and the desired sequencing of these steps.
These activities indeed overlap continuously
rather than following a strictly prescribed
sequence.
A brief description of these activities is as follows:
1. Formulating the Research Problem
 Formulating a research problem is the first and most
important step in the research process.
 Formulation of the problem means defining the problem
precisely.
 Formulation of problem is essential because when the
problem is formulated, an appropriate technique can
easily be applied to generate alternative solutions.
 In other words, a problem defined is half solved.
Cont’d
 Formulation of a problem involves the
following steps:
1. Statement of the problem in a general way
2. Understanding the nature of the problem
3. Surveying the available literature
4. Developing the idea through discussion
5. Rephrasing the research problem into a working
proposition.
2. Extensive Literature Review
 Once the problem is formulated, a brief
summery of it should be written down.
 Literature review has three functions:
 Bringing clarity and focus to the research
problem
 Improving the methodology
 Broadening the researcher knowledge in
the research area.
3. Development of Working Hypothesis
After extensive literature survey, researcher should
state in clear terms the working hypothesis.
Working hypotheses is tentative assumption made
in order to draw out and test its logical or
empirical consequences.
Hypotheses should be very specific and limited to
the piece of research in hand because it has to be
tested.
Cont’d
The role of hypotheses is to guide the researcher
by delineating the area of research and keep him
on the right track.
 It sharpens his thinking and focuses attention on
the more important facets of the problem.
It also indicates the type of data and the type of
methods of data analysis to be used.
4. Preparing the Research Design
Research design is defined as a blueprint or
detailed plan for how a research study is to be
completed, operationalizing variables so they can
be measured, selecting a sample of interest to
study, collecting data to be used as a basis for
testing hypothesis and analyzing the results.
It is the complete scheme or program of the
research.
5. Determining Sampling Design
 All the items under consideration in any field of
inquiry constitute a universe or population.
 A complete enumeration of all the items in the
population is known as a census inquiry.
 Because of the difficulty, relative inaccuracy
and biasness related to census study
determining sample, few elements from the
population, becomes mandatory.
In such cases, the researcher must decide the way
of selecting a sample or what is popularly known as
the sample design.
Cont’d
In other words, a sample design is a definite plan
determined before any data are actually collected for
obtaining a sample from a given population.
Samples can be either probability samples or non-
probability samples.
With probability samples each element has equal
chance of being included in the sample but in the
non-probability samples each element has no equal
chance to be part of the sample.
6. Collecting the Data
 There are several ways of collecting the appropriate
data which differ considerably in context of money
(costs), time and other resources at the disposal of
the researcher.
 Primary data can be collected either through
experiments or through survey.
 In the case of a survey, data can be collected by
Observation, Interview, Questionnaire and
Schedule
7. Analysis of Data
 The analysis of data requires a number of closely
related operations such as:
a) Establishment of categories,
b) Coding,
c) Tabulation ,and
d) Drawing statistical values.
8. Hypothesis Testing

 After analyzing the data, the researcher is in a

position to test the hypothesis, if any, he/she
had formulated earlier.
 Do the facts support the hypotheses or they
happen to be contrary?
 Various tests, such as Chi square test, t-test, F-
test or ANOVA may be applied.
9. Preparation of the Research Report
Finally, the researcher has to prepare the report of
what has been done by him following the
appropriate formats and appropriate language.
 Classification of Research
Basis of Classification The type of data used in
 Goal of research
1. Basic research
research
2. Applied research 1. Primary or field research
 Objectives of Research 2. Secondary or desk research
1. Descriptive Fields of study.
2. Explanatory
3. exploratory 1. natural science research,
 Approaches of research 2. social science research,
1. Qualitative research 3. educational research,
2. Quantitative research
3. Mixed research 4. behavioral science
 Designs research,
1. Experimental 5. health science research, etc
2. Quasi-experimental
3. Non-experimental
 A. Pure or Basic Research
Basic research (also called fundamental or pure
research) has the primary objective of the
advancement of knowledge and the theoretical
understanding of the relations among variables.
It is basically concerned with the formulation of a
theory or a contribution to the existing body of
knowledge.
Basic research is designed to add to an organized
body of scientific knowledge and does not
necessarily produce results of immediate practical
value.
 Cont’d
The major aims of basic research include:
Obtaining and using empirical data to
formulate, expand, or evaluate theory; and
Discovery of knowledge solely for the sake
of knowledge.
 Applied Research
Applied research is designed to solve practical
problems of the modern world, rather than to acquire
knowledge for knowledge's sake.
The goal of the applied scientist is to improve the
human condition.
It is undertaken to solve immediate practical problem
and the goal of adding to the scientific knowledge is
secondary.
The primary purpose for applied research is
discovering, interpreting, and the development of
methods and systems for solving practical problems.
 Cont’d
Applied research is conducted in relation to actual
problems and under the conditions in which they are
found in practice;
It employs methodology that is not as rigorous as that
of basic research;
It yields findings that can be evaluated in terms of
local applicability and not in terms of universal
validity.
B. Descriptive, Explanatory, & Exploratory
Research
Descriptive research
It sets out to describe and to interpret what is.
It looks at individuals, groups, institutions, methods
and materials in order to describe, compare,
contrast, classify, analyze and interpret the entities
and the events that constitute the various fields of
inquiry.
It aims to describe the state of affairs as it exists.
the goal of descriptive research is to describe some
aspect of a phenomenon, i.e., the status of a given
phenomenon.
 Explanatory Research
Explanatory research, aims at establishing the cause
and effect relationship between variables.
The researcher goes beyond merely describing the
characteristics, to analyze and explain why or how
something is happening.
 Explanatory or analytical research aims to understand
phenomena by discovering and measuring causal
relations among them.
 Exploratory Research
Exploratory research is conducted when there are
few or no earlier studies to which references can be
made for information.
It provides insights into and comprehension of an
issue or situation for more rigorous investigation
later.
Exploratory research is a type of research
conducted because a problem has not been clearly
defined.
Its purpose is to gain background information and
better understand and clarify a problem.
 Cont’d
Exploratory research often relies on:
Qualitative approaches (informal discussions)
 And more formal approaches through in-depth
interviews, focus groups, case studies or pilot
studies.
The results of exploratory research are not usually
useful for decision-making by themselves, but they
can provide significant insight into a given situation.
 C. Qualitative, Quantitative and Mixed
Research
Qualitative Research
Qualitative research involves studies that do not
attempt to quantify their results through statistical
summary or analysis.
Qualitative research seeks to describe various aspects
about behavior and other factors studied in the social
sciences and humanities.
In qualitative research data are often in the form of
descriptions, not numbers.
Cont’d
Qualitative research is a type of empirical
enquiry that entails purposive sampling for
gathering data.
It involves:
in-depth interviews,
group discussions,
observations without formal measurement.
A case study, which is an in-depth examination
of one person, is a form of qualitative research.
 Quantitative Research
On the other hand Quantitative Research is the
systematic and scientific investigation of quantitative
properties and phenomena and their relationships.
The objective of quantitative research is to develop
and employ mathematical models, theories and
hypotheses pertaining to natural phenomena.
The process of measurement is central to quantitative
research.
Quantitative research involves surveys and
experiments
Quantitative approach typically concentrates on
measuring or counting and involves collecting and
analyzing numerical data and applying statistical tests.
Basic Difference: Qualitative Vs Quantitative
Qualitative Quantitative
Purpose To describe a situation, gain insight into To measure prevalence–how
a particular practice, belief, etc widespread is a practice, belief, etc

Format No predetermined response categories Standardized measures, response

categories predetermined and pre-
Supplied

Data In-depth explanatory data from a small Wide breadth of data from a large
sample statistically representative sample

Analysis Draws out patterns from concepts and Tests hypothesis, uses data to
insights (logical reasoning/analytical support conclusion. May use control
generalization) group (Statistical generalization)

Result Illustrative explanation and individual Numerical aggregation in the form of

responses. percentages, tables, etc. Responses
are clustered.

Sampling Theoretical Statistical

method
 Data Collection Method
Quantitative Method Qualitative Method
– random sampling – Purposive sampling
-Structured data collection - Open ended and less
instruments structured protocols(flexible)
– Follow rigid interview – Depend on interactive
procedure interviews
– produce results that: – Produce results that
• Generalize give:
• Compare • Meaning
• Summarize • Experience
• Views
Mixed Research
It is a type of research that contains both the
characteristics of qualitative and quantitative research
 Ethics and business research
Ethics in business research refers to a code of
conduct or expected societal norm of behaviour
while conducting research.
Ethical conduct applies to the organization and
the members that sponsor the research, the
researchers who undertake the research, and
the respondents who provide them with the
necessary data.
Cont’d
The observance of ethics begins with the
person instituting the research, who should do
so in good faith, pay attention to what the
results indicate, and surrendering the ego,
pursue organizational rather than self-
interests.
Thus, ethical behaviour pervade each step
of the research process-data collection, data
analysis, reporting, and dissemination of
information
 Thank you!
End of Chapter One!