Business Research

Methods
DR.Vittapu
Email ID: [email protected]
Contact Number:0904388477

December 2020

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 Course Outline
 Chapter 1 – Research Methods
 Chapter 2 - Research Process
 Chapter 3 - Research Design
 Chapter 4 - Research Problem
 Chapter 5 - Variables and Their Types
 Chapter 6 - Formulation of Hypothesis
 Chapter 7 – Sampling…
 Chapter 8 - Tools of Data Collection…
 Chapter 9 - Data Analysis…
 Chapter 10 - Interpretation of data…
 Chapter 11 - Research Methods…
 Chapter 12 - Descriptive or Survey method
 Chapter 13 - Experimental Method
 Chapter 14 - Research Proposal…
 Chapter 15 - Research Report…
Chapter-1 Sri Sai College Dr.Vittapu
 Research Introduction
 Research is an essential and powerful tool in
leading man towards progress.
 Without systematic research there would have
been very little progress.
 John W. Best has rightly said, “The secret of our
cultural development has been research, pushing
back the areas of ignorance by discovering new
truths, which, in turn, lead to better ways of doing
things and better products.”
Chapter-1 Sri Sai College Dr.Vittapu
 Meaning of Research
 Word ‘Research’ is comprises of two words = Re+Search.
It means to search again.
 So research means a systematic investigation or activity to
gain new knowledge of the already existing facts.
 Research is an intellectual activity. It is responsible for
bringing to light new knowledge.
 It is also responsible for correcting the present mistakes,
removing existing misconceptions and adding new learning
to the existing fund of knowledge.
 Researches are considered as a combination of those
activities which are removed from day to day life.
Chapter-1 Sri Sai College Dr.Vittapu
 Research is also considered as the application of
scientific method in solving the problems.
 It is a systematic, formal and intensive process of
carrying on the scientific method of analysis.
 There are many ways of obtaining knowledge. They are
intuition (awareness), revelation (exposure), and
authority(power,right), logical manipulation of basic
assumptions, informed guesses, observation, and
reasoning by analogy(similarity).
 One of the branches of research known as empirical
(experimental) research is highly goal-oriented
technique.

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 Definitions of Research
The following are the important definitions of research:
•“Research is an endeavor / attempt to discover, develop and
verify knowledge. It is an intellectual process that has
developed over hundreds of years ever changing in purpose
and form and always researching to truth.”
J. Francis Rummel
•“Research is an honest, exhaustive, intelligent searching for
facts and their meanings or implications with reference to a
given problem. The product or findings of a given piece of
research should be an authentic, verifiable contribution to
knowledge in the field studied.”
P.M.
Chapter-1 Sri Sai College Dr.Vittapu Cook
“Research may be defined as a method of studying problems whose
solutions are to be derived partly or wholly from facts.”
W.S. Monroes
“Research is considered to be the more formal, systematic intensive
process of carrying on the scientific method of analysis. It involves a
9 more systematic structure of investigation, usually resulting in
some sort of formal record of procedures and a report of results or
conclusion.”
John W. Best
“Research comprises defining and redefining problems ,formulating
hypothesis or suggested solutions, collecting ,organizing and
evaluating data, making deductions and reaching conclusions and at
last careful testing the conclusions to determine whether they fit the
formulated hypothesis.”
Clifford Woody

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 Definitions etc..
Research is a systematic effort to gain new knowledge.”

“Redman & Mori

“Social research may be defined as a scientific
undertaking which by means of logical and systematized
techniques aims to discover new facts or verify and test
old facts , analyse their sequences , inter-relationships
and casual explanation which were derived within an
appropriate theoretical frame of reference , develop new
scientific tools , concepts and theories which would
facilitate reliable and valid study of human behavior.”
Chapter-1 Sri Sai College Dr.Vittapu P.V. Younge
Business Research

•A process of determining, acquiring,

analyzing, synthesizing, and disseminating
relevant business data, information,
•BR is an insights to decision makers in ways
that mobilize the organization to take
appropriate business actions that,
in turn, maximize business performance

1-9
Research Should Reduce Risk

The primary
purpose of
research is to
reduce the level of
risk of a marketing
decision

1-10
 Purpose of Research
 The purpose of research is to discover answers
to questions through the application of
scientific procedure.
 The main aim of research is to find out the truth
which is hidden and which has not been
discovered as yet.
 Though each research study has its own
specific purpose, some general objectives of
research below:
Chapter-1 Sri Sai College Dr.Vittapu
(i)To gain familiarity with a phenomenon or to achieve new insights into it.
(Studies with this object in view are termed as exploratory or formative research
studies).
(ii) To portray accurately the characteristics of a particular individual, situation or a
group.(Studies with this object in view are known as descriptive research studies).

(iii) To determine the frequency with which something occurs or with which it is
associated with something else. (Studies with this object in view are known as
diagnostic research studies).

(iv) To test a hypothesis of a causal relationship between variables. (Such studies

are known as hypothesis-testing research studies).

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Characteristics of Research:
Following are the characteristics of research;
(i) Research is directed toward the solution of a problem.
(ii) Research requires expertise.
(iii) Research emphasizes the development of generalizations,
principles, or theories that will be helpful in predicting future
occurrences.
(iv) Research is based upon observable experience or empirical
evidences.
(v) Research demands accurate observation and description.
(vi) Research involves gathering new data from primary or first-hand
sources or using existing data for a new purpose.
(vii) Research is characterized by carefully designed procedures that
apply rigorous analysis.

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Characteristics of Research continue…..
(viii)Research involves the quest for answers to un-solved
problems.
(ix) Research strives to be objective and logical, applying
every possible test to validate the procedures employed
the data collected and the conclusions reached.
(x) Research is characterized by patient and unhurried
activity.
(xi) Research is carefully recorded and collected.
(xii) Research sometimes requires courage.

Chapter-1 Sri Sai College Dr.Vittapu

“Research is a systematic effort to gain new knowledge.”
Redman & Mori

“Social research may be defined as a scientific undertaking

which by means of logical and systematized techniques aims
to discover new facts or verify and test old facts , analyze
their sequences , inter-relationships and casual explanation
which were derived within an appropriate theoretical frame
of reference , develop new scientific tools , concepts and
theories which would facilitate reliable and valid study of
human behavior.”
P.V. Younge

Chapter-1 Sri Sai College Dr.Vittapu

Types of Research:
There are varieties of ways through which we may classify it into different
categories.
(A) On the basis of nature of information:
On the basis of nature of information we can classify the research into two types;
(i) Qualitative Research: When information is in the form of qualitative data.
(ii) Quantitative Research: When information is in the form of quantitative data.
(B) On the basis of utility of content or nature of subject matter of research:
On the basis of these criteria we can categorize the research into two categories.
(i) Basic/ Fundamental /pure or Theoretical Research: Its utility is universal.
(ii) Experimental or Applied Research: Its utility is limited.
(C) On the basis of approach of research:
We may classify research into two different categories.
(i) Longitudinal Research: Examples of this category are historical, Case study and
Genetic research.
(ii) Cross-Sectional Research: Examples of this category are Experimental and
Survey Research.
(ii) Historical Research: It is both qualitative as well as quantitative in nature and
deals with past events.
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(D) On the basis of method of research :
On the basis of research method we may classify a research into five
different categories.
(i)Philosophical Research: It is purely qualitative in nature and we
are focusing on the vision of others on the content of research.
(ii) Historical Research: It is both qualitative as well as quantitative
in nature and deals with past events.
(iii)Survey Research: It deals with present events and is quantitative
in nature. It may further be sub-divided into; discretional,
correlational and exploratory type of research.
(iv) Experimental Research: This is purely quantitative in nature and
deals with future events.
(v) Case-Study Research: It deals with unusual events. It may be
qualitative as well as quantitative in nature depending upon the
content.
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 Types of research include …
• Large scale surveys (of people, organisations, events, etc)
analysed statistically
• Small scale surveys with emphasis on “qualitative” detail
• Case studies (to see how something works in detail)
• Experiments (change something to see what happens)
• Models can be set up, tested and used for …
• Participant observation (observe as participant)
• Action research (combine research and action)
• Evaluation
• … and may other possibilities …be imaginative!
Many projects combine several of these
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 Reading
• This course introduces students to the philosophy
of research in the business/management field,
including both qualitative and quantitative
methods.
• It covers the research process and introduces
students to the statistical package SPSS.
• This course is highly recommended for students
contemplating postgraduate study in management
or senior managerial roles in business.
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 Advice on research methods
• Common sense – don’t forget this!
• Articles and books reporting similar research
– should be discussed in the project
• Books on research methods in general
– Focus on chapters relevant to your project.
• RESEARCH METHODS FOR BUSINESS
A Skill-Building Approach Fourth Edition
by Uma Sekaran , Southern Illinois University at
Carbondale Chapter-1 Sri Sai College Dr.Vittapu
 Purpose and characteristics of
academic research
• Purpose:
– Discover truth about something; and/or
– Find a good way of doing something
• Must be
– Systematic and as thorough and trustworthy as possible
– Clearly written and with sufficient detail for readers to
check credibility
– Ethical

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 Hypotheses
• Hypotheses are statements whose truth you want to test, or
“predicted answers” to research questions (Robson, 2002)
• Occasionally appropriate as a top level research aim
– e.g. to test the hypothesis that “Working at home
improves quality of life”
• Usually best to avoid hypotheses when formulating main
research aims because questions or aims tend to be more
flexible
– e.g. “How does working at home affect quality of life?”
• Null hypotheses have a (controversial) role in some
statistical analysis (… as you will see), but they are not
relevant to formulating your overall research aims

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 Research aims or questions
• Research aims or questions should:
– Be clearly and simply expressed
– Fit together (so that you have a coherent project)
– Clarify the intended outcome and scope of the research
• Your research aims or questions should also
– Be relevant to your degree
– Be achievable
– Present a reasonable level of challenge

Chapter-1 Sri Sai College Dr.Vittapu

 Research aims or questions
• Must be research aims, not business or personal aims.
– However, business or personal aims may be part of the
background motivating your research aims, and
research aims would normally include the aim of
making recommendations to people or organisations.
• Should generally have a limited scope or focus.
– The danger with general aims is that they lead to
superficial research.
• May relate to theoretical issues. You may be aiming to
test, modify or create a theory
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 Example of research aims
The aims of this research are to
1 Describe the decision making strategies of
small investors
2 Determine the effectiveness of these
strategies
Any comments? Does this seem reasonable
for a Masters project?
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 Another example of research
aims
• The aims of this research project are to
– Evaluate Method X for planning
mountaineering expeditions
– If necessary propose and justify Amended
Method X for planning mountaineering
expeditions

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 Another example of research
aims
• What are the important quality problems in
Company X?
• How serious are these problems?
• What is the best strategy for reducing these
problems?
Any comments? Does this seem reasonable
for a Masters project? Does it matter that
they are expressed as questions?
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Three more examples of research
aims
1. The aim of this research is to investigate the role
of the internet in banking.
2. This research project aims to explain activity
based costing.
3. The aim of this project is to
– Test the efficient market hypothesis for the Athens
stock exchange, and
– Determine how global warming will influence share
prices.
Any comments? These are not reasonable for an
Masters projects! Why not?
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 Possible research topics
• Research in a specific organisation
– Best if they are likely to implement any
recommendations
– Take care you have adequate access to data
– Easier if you have a recognised / paid job there and / or
know key players well.
• Research based on publicly available data
– Eg share prices, the www, published statistics
• Research based on surveys of the “public”
• These are just some possibilities. There are more
…
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 The first CRITIC
– Cause and effect assumptions OK?
– Representative sample?
– Indicators (measurements) OK?
– Theoretical assumptions OK?
– Imaginative enough?
– Chance ruled out as explanation?

(Checks needed are mostly common sense – except for Chance.)

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 The second CRITIC
• C Claim?
• R Role of the claimant?
• I Information backing the claim?
• T Test?
• I Independent testing?
• C Cause proposed?

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