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BASICS OF BUSINESS
RESEARCH METHODS I
CHAPTER 1 (ZIKMUND)
ROLE OF BUSINESS RESEARCH
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CHAPTER 1 (ZIKMUND)
What is Business Research?
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, and monitoring
employee and organizational performance. Business research is
more than conducting surveys.
Applied Vs. Basic Research
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Managerial Value of Business Research
When Business Research is Needed?
Time Constraints
In many instances, management believes that a decision must be
made immediately, allowing no time for research.
Availability of Data
Often managers already possess enough data, or information, to
make sound decisions without additional research. When they lack
adequate information, however, research must be considered.
Nature of Decision
A routine tactical decision that does not require a substantial
investment may not seem to warrant a substantial expenditure for
research.
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When Business Research is Needed?
Benefit Vs Cost
In any decision-making situation, managers must identify alternative
courses of action and then weigh the value of each alternative
against its cost. Business.
CHAPTER 3 (ZIKMUND)
THEORY BUILDING
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Proposition
A proposition explains the logical linkage among certain concepts
by asserting a universal connection between concepts.
Hypothesis
A hypothesis is a formal statement explaining some outcome. A
sales manager may hypothesize that the salespeople who are highest
in product knowledge will be the most productive.
Scientific Method of Research
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Theory
A theory is a formal, testable explanation of some events that
includes explanations of how things relate to one another.
Theory Building
Deducting Reasoning
Deductive reasoning is the logical process of deriving a conclusion
about a specific instance based on a known general premise or
something known to be true.
Inducting Reasoning
Inductive reasoning is the logical process of establishing a general
proposition on the basis of observation of particular facts.
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Deduction - theory and hypothesis are developed and
tested
Induction – data are collected and a theory developed from
the data analysis
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Deductive and Inductive research
Major differences between these approaches
CHAPTER 4 (SAUNDERS)
UNDERSTANDING RESEARCH
PHILOSOPHIES AND APPROACHES
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CHAPTER 5 (SAUNDERS)
FORMULATING THE RESEARCH DESIGN
Underlying issues of data collection and analysis
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QUALITATIVE VS. QUANTITATIVE
Quantitative is predominantly used as a synonym for any data
collection technique (such as a questionnaire) or data analysis
procedure (such as graphs or statistics) that generates or uses
numerical data. In contrast, qualitative is used predominantly as a
synonym for any data collection technique (such as an interview)
or data analysis procedure (such as categorising data) that
generates or use non-numerical data.
For detail understanding see BOX 5.7 and BOX 5.8
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CROSS SECTIONAL VS. LONGITUDINAL
Cross sectional study is probable that your research will be cross-
sectional, the study of a particular phenomenon (or phenomena) at
a particular time. They may be seeking to describe the incidence of
a phenomenon (for example, a survey of the IT skills possessed by
managers in one organisation at a given point in time) or to explain
how factors are related in different organisations.
The main strength of longitudinal research is the capacity that it
has to study change and development. From these surveys you
would be able to gain valuable data, which would give you a
powerful insight into developments in personnel management and
employee relations over a period of wide-ranging change.
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