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L1 - Introduction To Business Research

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38 views17 pages

L1 - Introduction To Business Research

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linh.dangkhanh
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INTRODUCTION TO BUSINESS RESEARCH

IM3105 Research Methods for Business


Sem 1, 2024-2025

Adapted from the Business Research Methods Lecture Notes of Assoc. Prof. Dr. Lê Nguyễn Hậu
Content
1. Scientific foundation of business research
2. Research in business
3. Business research process
4. Business research vs. business problem solving
5. Ethics in business research
1. Scientific foundation of business research
Starting point:
 Why do we (managers/students) need knowledge (information)?

“To know – to do – to live – to live together”

 How can we know what we know? (how can we create knowledge?)

Acquiring from others vs. Creating new knowledge


1.1 Definition of scientific research

Scientific research is the application of


ideas, principles, and scientific
approaches to creating new knowledge
to describe, explain, or predict
phenomena in reality.
1.2 Methodological foundations

 Rationalism  Empiricism
 Scientific argument, explanation,  Description, explanation, or
or conclusion must be rational conclusion must be based on the
(i.e. based on logical reasoning) observation of reality.
1.3 Basic methodologies to scientific research
 Induction
a process where we repeatedly observe certain phenomena and on this basis, we
arrive at conclusions.
 from more specific to more general.

Example:
 You have experienced traffic jams many times at X during peak hours (observations).
 Traffic jams are likely to occur at X during peak hours.
 The chair in the dining room is red. The chair in the living room is red. The chair in
the bedroom is red (observations).
 All the chairs in the house are red.
1.3 Basic methodologies to scientific research
 Deduction
a process by which we arrive at a conclusion by the logical inference from a known
fact/knowledge.
 Inferring from the known to the unknown by using logical reasoning.

Example:
 Vietnamese has black hair (knowledge)
X is a Vietnamese (fact)
 X has black hair (conclusion)
1.3 Basic methodologies to scientific research
 Combination: hypothetico-deductive approach
 Phase 1 - Deduction:
▫ based on known knowledge/ theories to develop new hypotheses

 Phase 2 - Induction:
▫ based on observation to test/ validate the hypotheses.
EXISTING LITERATURE / THEORIES

Deduction

FINDINGS – PROPOSED
RESEARCH
CONCLUSIONS - MODEL -
GENERALIZATION PROBLEM HYPOTHESES

Induction

OBSERVATION

+ Research is an on-going and accumulative process.


+ Theory is always temporary until it is falsified
1.4 Outcome of research
 Research is to create new knowledge (information)

Knowledge: Know-what (descriptive)

Know-how (procedural)

(Tacit – Explicit) (Scientific – Non-scientific)

 Research is to answer knowledge questions


2. Research in business
 Definition of business research
 A process of planning, collecting & analyzing data, and then disseminating new
knowledge or information to decision-makers that is useful to their managerial
job (Cooper & Schindler, 2006).

 Research outcomes provide the needed knowledge or information that guides


managers to make informed decisions to solve managerial problems successfully
(Sekaran, 2003).
2. Research in business
 Obstacles to conducting business research
 Human factor (behavior, emotion, attitude, perception)

 Many factors are involved in one problem

 Factors have complicated and vague impacts

 Difficult to measure accurately

 Bias of the observer and previous theories.

 The “being observed” effect.


2. Research in business
 Emerging trends in business research
 Rapidly changing business environment – VUCA

 Fast-changing technology (eg., internet, cyberspace, AI)

 Advances in research tools and techniques


2. Research in business
 Examples of topic area in business research
 Employee: performance, satisfaction, well-being
 Organization: performance, culture, leadership, strategy, behavior
 Customer: relationship, satisfaction, experience, values, behavior
 Marketing effectiveness, communication research
 Product/service evaluation, distribution, logistics, supply/value chains
 Brand positioning, Brand image, Brand value
 Cost of capital, valuation of firms, dividend policies, investment
 Management information system, innovation, technology adoption
3. Research process
1. Research background and problem
Formulation
2. Research objectives and scope
3. Literature background review
Deduction
4. Conceptual model & hypotheses
5. Research method - design
Induction 6. Data collection
7. Data analysis & interpretation
Communication of 8. Report.
findings
4. Business research vs. Problem solving
5. Ethics in business research
 Unethical research actions may negatively affect parties involved (businesses,
employees, consumers, society, institutions, and the discipline).

 Ethical obligations of researchers


 Develop a consensus among key actors involved.
 Take great care to treat research participants fairly.
 Data must be collected from identified sources with consensus.
 Use the right tool, and avoid overly complex tools for data analysis.
 Ensure the integrity of research results and findings.
 Communicate clearly about all research findings and limitations.
Not an exhaustive list…

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