Module-I

Business Research Basics

 Business Research Basics
 Nature & scope of BR
 Identification of Research Problem
 Statement of Research
 Objective & Hypothesis
 Formulation of Research Question
 Types of BR Process
 Research Design
 What is Research?
 Research is a scientific and systematic
search for relevant 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
 To gain familiarity with a phenomenon to achieve new
insights into it - Exploratory research.

 To portray accurately the characteristics of a particular

individual, situation or a group - Descriptive research.

 To determine the frequency with which something

occurs or with which it is associated with something else
- Diagnostic research.

 To test a hypothesis of a causal relationship between

variables – hypothesis testing research
 Scope of BR

 It is used to solve the various operational

& planning problems that arise in business
organization which include problem
related to marketing, finance, HR, &
manufacturing.
 Forms of BR
Market Research, Operational Research &
Motivational Research
 Market Research- It aims at understanding & examining the market
place in which it operates & which helps the organization to devise
business policies & marketing strategies .
 Operational Research- It uses the mathematical, logical & analytical
methods to find optimal solutions to business problems & which is
mainly used for demand forecasting, optimizing the production &
the best investment options.
 Motivational Research- It analyzing the reasons & motives behind
people’s behavior & which is used to understand the behavior of the
employee & consumer.
 Steps of BR
 Problem/Opportunity Identification- It involves scanning & monitoring
of internal & external business environment (opportunities & threats
that a company is facing & understanding the market trends)

 Problem/Opportunity Prioritization & Selection-

1. Prioritize problems or opportunities
2. Select major problem or opportunities

 Problem/Opportunity Resolution-
1. Develop alternative course of action
2. Choose the best course of action

 Implement the course of action

 Problem Identification
 Problems are identified based on the strengths,
weaknesses, opportunities and threats encountered in
the process of conducting day-to-day operation of the
business.
 Problems are identified by the higher authority or
management and researcher is being asked to conduct
the research.
 Problems are identified by other agencies/organizations
and research is asked to conduct the research following
the objectives and scope of work as mentioned in the
terms of reference.
 Factors Affecting the BR
 Time
Conducting research systematically takes time. In many instances
management concludes that, because a decision must be made
immediately, there will be no time for Research.

 Resources
Lack of Financial & Human resources

 Nature of Information Sought

If internal record exist then further research is a waste. Manager’s
intuition or past records are enough.

 Benefit verses cost

CVA is must in every research
 Research Statement

 A research statement is a summery of research achievements and a

proposal for upcoming research. It often includes both current aims
and findings, and future goals.

 A typical research statement follows a typical pattern in regard to

layout, and often includes features of other research documents
including an abstract, research background and goals.
 Research Objectives
Research Objectives is a continuation of the problem statement
may be written in the form of a general objective which is
GENERALLY STATED and RATHER WIDE, followed by the specific
objectives – which are more focused and direct

Characteristics of Research Objectives:

Characteristics of Research Objectives outline the scope of the

research & give a picture of how to perform the investigation & also
give an idea who would be the subjects of the research e.g.: To
examine if there is a significant relationship between readiness for
self-directed learning (SDL) and needs for language skills, perceived
language competence, and teaching experience.
 Research Questions
The research objectives being posed as questions or derivatives of the
objectives being posed as questions. e.g.: OBJECTIVE: to identify the
differences of positional strategies adopted by two major players in India.

Characteristics of Research Questions :

 It should be significant to be studied and would add knowledge to the body

of knowledge.

 It should be ethical (would not cause physical and psychological injury to

anyone, or to the environment).

 It should be feasible (could be studied and would not take too much time,
energy, and cost).

 It should be clear (most researchers would agree to the meaning of key

descriptors in the questions).
 Research Hypothesis
 Tentative statements as solutions to the problem.

 Tentative statements on relationships between two or

more variables.

 An educated guess of conditions of a phenomenon.

 A reasoned speculation about how two or more variables

are related to each other.
Types of Research Hypothesis

 Ho: Null Hypothesis

 Ha: Alternative Hypothesis
 Simple & Composite hypothesis
Examples of Research Hypotheses :
Gifted students have higher motivation towards
mathematics.
There exists a positive relationship between attendance
and result.
 Types of BR
The two main types are Basic and Applied research.

 Basic Research
The basic research is fundamental research driven by a scientist's
curiosity. The main motivation behind it is to expand his knowledge,
not to invent something.
e.g, Understanding the consumer buying process
 Applied research
Applied research on the other hand is designed to solve practical
problems, rather than to gain knowledge. Applied research sets out to
prove a specific hypothesis of value to the clients paying for the
research.
e.g, Examining consumer response to direct marketing programs.
Evaluating the impact of a training program on employee performance
 Business research processes
The steps of BRP are:
 Identifying & Defining the Problem/Opportunity
1. Modes of Identification of problem through Expert Opinion
 Problem faced in practice by manager
 Cognitive identification of an experienced researcher in the area of his expertise
 Literature search & Pilot Study (Identification of variables)

2. Preparing the statement of the research objective

3. Developing the hypothesis
 Planning the Research Design
It includes all the details such as where the information should be
obtained from, the time & budget allotted, the appropriate measurement
techniques & sampling process.
 Selecting the Research Method
Surveys
Experiments
Secondary data studies
Observational Techniques
Analyzing research designs
 Selecting the Sampling Procedure
Types of Sampling
Size of the sample
 Data Collection
Primary sources
Secondary source
 Data Analysis
 Preparing & Presenting the Research Report
 Research Design
These are concerned with turning the research question
into a testing project. The best design depends on your
research questions. Every design has its positive and
negative sides.

Need of Research Design

It facilitates the smooth flow of various research processes.

Characteristics of Research design

 Identifying the exact research problem to be studied
 Objective of the research
 Process of obtaining information
 Availability of adequate & skilled manpower
 Availability of adequate financial resources
Types of Research design

 Experimental designs:
In an experimental design, the researcher actively tries to change
the situation, circumstances or experience of participants
(manipulation), which leads to a change in behaviour of the
participants of the study. The participants are assigned to different
conditions, and variables of interest are measured.

 Non-experimental research designs:

Non-experimental research is almost the same as experimental research,
the only difference is that non-experimental research does not involve a
manipulation of the situation, circumstances or experience of the
participants. It can be split up in three designs.
  Relational designs –
Range of variables is measured. These designs are also called co relational studies
 Comparative designs –
Compare two or more natural groups
 Longitudinal design –
Subjects are assessed at several different times in their lives. Usually, you use this
design when you are interested in how subjects change over time.

 Quasi experiment:
Theses research design that follow the experimental procedure, but do not
randomly assign people to (treatment and comparison) groups.

 Case study:
In a case study, one single unit is extensively studied. This case can be a
person, organization, group or situation.

 Ethnographic study:
This type of research is involved with a group, organization, culture, or
community. Normally the researcher shares a lot of time with the group.

 Grounded theory study:

The aim of grounded theory studies is to make theories that can explain
certain events.
 Classification of Research Design
Broadly there are three types of research design:
 Exploratory Studies
 Descriptive Studies
 Causal Studies

Exploratory Studies:
It is carried out to make problem suited to more precise investigation. It helps in
understanding & accessing the critical issues & problems. There are three main
reason of such studies,
1.To analyze a problem situation
2. To evaluate alternatives
3. To discover new ideas
These studies can be conducted by both Quantitative & Qualitative techniques-
In-depth interviews, projective techniques, elite interviewing, document analysis
Secondary data analysis, experience surveys, focus group
Descriptive Studies:
The objective of descriptive study is to learn the who,
what, when, where, and how of a topic. The study may
be simple or complex; it may be done in many settings.
These studies form the basis for analytical , experimental & quasi-
experimental studies & also help in developing hypothesis.

Causal Studies:
The aim of the studies is to identify the cause & effect
relationship between variables.
There are thee types of relationship,
 Symmetrical
 Reciprocal
 Asymetrical