Research in Business

Introduction to Research

• Research is simply the process of finding

solution to a problem after a thorough study and
analysis of the situational factors.
• Managers in organizations constantly engage
themselves in studying and analyzing issues and
hence are involved in some form of research
activity as they make decisions at the workplace.
 Introduction contd.
• As is well known, sometimes managers make
good decisions and problems get solved,
sometimes they make poor decisions and the
problem persists, and on occasion they make
such colossal blunders that the organization gets
stuck in the quagmire.
• The difference between making good decisions
and committing blunders lies in how managers
go about the decision making process
 Crucial Questions
• Do managers identify where exactly the problem
lies?
• Do they correctly recognize the relevant factors
in the situation needing investigation?
• Do they know what type of information are to be
gathered and how?
• Do they know how to make use of the
information so collected and draw appropriate
conclusions to make the right decisions? and
• Finally, do they know how to implement the
results of this process to solve the problem?
 Questions (Contd.)
• To be a successful manager it is important that
we know how to go about making the right
decisions by being knowledgeable about the
various steps involved in solving problematic
issues.
• Identifying the critical issues, gathering relevant
information, analyzing the data in ways that
would help decision making, and implementing
the right course of action are all facilitated by
understanding business research.
 Business Research
• Business research can be described as a
systematic and organized effort to
investigate a specific problem encountered
in the work setting, that needs a solution.
• It comprises a series of steps designed
and executed , with the goal of finding
answers to the issues that are of concern
to the manager in the work environment
 Business Research
• To know where the problem areas exist in
the organization, and to identify as clearly
and specifically as possible, the problems
that need to be studied and resolved.
• To gather information, analyze the data,
and determine the factors that are
associated with the problem and solve it
the necessary corrective measures.
 Business Research

• This entire process by which we attempt to

solve problems is called research.
• Thus, research involves a series of well-
thought-out and carefully executed
activities that will enable the manager to
know how organizational problems can be
solved.
 Definition contd.
• Research is an organized, systematic,
data-based, critical, objective, scientific
enquiry/investigation into a specific
problem, undertaken with the purpose of
finding answers or solutions to it.
 Data/Statistical Information
• Data can be quantitative (as generally
gathered through structured questions) or
• qualitative (as generated from the broad
answers to specific questions in
interviews, from responses to open ended
questions in a questionnaire, or through
observation, or from already available
information gathered from various
sources.
 Purpose of Research
• Research can be undertaken for two different
purposes.
– Applied Research: to solve a current problem faced
by the manager in the work setting, demanding a
timely solution, For example, a particular product may
not be selling well and the manager might want to find
the reasons for this in order to take corrective action.
– Basic research: to generate a body of knowledge by
trying to comprehend how certain problems that occur
in organizations can be solved.
 Research in Business
• To day’s managers have a growing need
to understand scientific findings and
incorporate them into the decision making
process.
• They also need to understand better how
research is conducted and how good
research can be identified.
• Finally, they should be prepared to carry
out research in a more scientific manner.
 Characteristics of Good
Research
• Purpose clearly identified.
• Research process detailed.
• Research design thoroughly planned.
• High ethical standards applied.
• Limitation frankly revealed.
• Adequate analysis for decision maker’s needs.
• Findings presented unambiguously.
• Conclusions justified.
• Researcher’s experience reflected.
 Types of Research

• Business research is a systematic inquiry

that provides information to guide
business decisions.
• It includes reporting as well as descriptive,
explanatory and predictive studies.
Emphasis is placed on applied rather than
pure research
 Types of Research
• i) Reporting;
• ii) Descriptive;
• iii) Explanatory; and
• iv) Predictive
 Reporting

• A reporting study may be made only to

provide an account or summation of some
data or to generate some statistics.
• A reporting study calls for knowledge and
skill with information sources and
gatekeepers of information sources.
• Such a study usually requires little
inference or conclusion drawing
 Descriptive
• A descriptive study try to discover answers
to the questions who, what, when, where,
and sometimes how.
• The researcher attempts to describe or
define a subject, often by creating a profile
of a group of problems, people, or events.
• Such studies may involve the collection
and description of data.
• They may involve relating the interaction
of two or more variables
 Explanatory
• An explanatory study attempts to explain
the reasons for the phenomenon that the
descriptive study only observed.
• The researcher uses theories or at least
hypotheses to account for the forces that
caused a certain phenomenon to occur.
 Predictive
• If we can provide a plausible explanation
for an event after it has occurred, it is
desirable to be able to predict when and in
what situation the event will occur.
• A predictive study is just as rooted in
theory as explanation.
 Exploratory
• When no information exists on some
phenomena, surveys are undertaken to
find about the various facets of the
problem.
• Survey-based research