UNIT 1

Nature and Scope of Business Research

Nature and Scope of Business Research

Introduction Meaning of Research and Objectives What is Good Research? Why Study Business Research? Types of Research

Introduction
Investigation using scientific procedures, by searching again and again to find out the truth Research is the continual search for truth using the scientific method. It is the pursuit of the truth with the help of study, investigation, observation, comparison and/or experimentation.

What makes people to undertake research?

Desire to get a research degree along with its consequential benefits Desire to face the challenge in solving the unsolved problems. Ex. Concern over practical problems initiates research. Desire to get intellectual joy of doing some creative work. Desire to be of service to society Desire to get respectability.

Research as Career
Rewarding and satisfying career Opportunities for life-long growth Exciting fields for innovation Global career opportunities Main reward in doing

What it Takes?
Creativity Open mind Curiosity Patience Persistence Positive Attitude Discipline and focus

What is Research?
Research is a scientific and systematic search for
pertinent information on a specific topic. It is a careful investigation or enquiry specially through search for knowledge. It is a movement from known to unknown.

Objectives of Research
The Objective of research is to find out the answers to questions through the application of systematic and scientific way. Specific purpose behind each research study,
To obtain familiarity of a phenomenon. To determine the association or independence of an activity. To determine the characteristics of an individual or a group of activities and the frequency of its occurrence.

Features of a Good Research Study

Objectivity Control Generalisability Free from Personal Biases Systematic Reproducible

Hence, the following points must be ensured

Clearly defined purpose Detailed research process Thoroughly planned design High ethical standards Limitations addressed

Adequate analysis
Unambiguous presentation Conclusions justified
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Credentials

Business Research
A process of planning, acquiring, analyzing, and disseminating relevant business data, information, and insight to decision makers in ways that mobilize the organization to take appropriate action that, in turn, maximize business performance. It is a systematic inquiry that provides information to guide managerial decisions.

Why Study Business Research?

New Research Perspectives Growth of Internet Greater Computing Power

Stakeholder Influence

Factors

Business as a discipline

Competition Government Intervention

Complex Decisions

Types of Research Studies

Fundamental Research Applied Research Descriptive research Historical Research Formulative or Exploratory Research Experimental Research Ex-Post-Facto Research Case Study Approach

Significance of Research
Research Provides the basis for nearly all government policies in our economic system It solves various operational and planning problems of business industry It is important for social scientists in studying social relationships and in seeking answers to various social problem.

Thank You