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Business Research Methods

Notes of Business Research Methods Class Wise


Book author: Donald R Cooper 1st class Why research is conducted When there is a problem or if there is an opportunity in the market or in any other particular we conduct a research to explore the opportunity or to solve that problem. De!inition: A systematic, scientific, organized inquiry that provides information to managerial decision makers Syste"atic: identify the problem and proceeds step by step Scienti!ic: The difference is verifiable, results of research be verifiable. There is the confidence of the decision. Difference between confidence and decision P ( !"#$%!& '%!( it interprets that ) am %!( sure that the avera*e marks of class in a particular sub+ect will between ! and %!. This statement is precise and differentiable and testable P (!"#$,!!& ',!!( it interprets that ) am ,!!( sure that the marks of the students in a particular sub+ect are between ! and ,!!. This statement is not precise because it is obvious that the marks of students will in between !andf ,!! The level of confidence must not be very wide and it also must not be too short. Types o! Research #$ploratory research: the research which is conducted to explore the problem is called exploratory research in which the hypothesis or level of confidence is defined.
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Teacher: SIR ABDUL SAMAD

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Business Research Methods


Descripti%e research: one variable is involved in this type of research, the problem is studied in details and depth and the surveys are conducted. Causal research: the study of cause and its effects is called the causal research e.*. the effect of rise in the price of a commodity on its sales, the effect of advertisin* on the sales etc.

&nd class What is the di!!erence 'et(een "arket intelli)ence and "arket research Market intelli)ence is the continuous process of *ettin* knowled*e and information. Market research is the problem based study conducted by the professional individuals. There is some software available in the market to help the mana*ement or decision makers. They are the artificial intelli*ent decision makin*. DSS (decision support system& This is an artificial system in which the information is saved BIS (business intelli*ence system& This will tell the mana*ement whether the research should be conducted or not.

Strate)y -trate*y is the means of achievin* lon* terms ob+ectives. .ollowin* are the some characteristics of a strate*y: Lon) ter"s o'*ecti%es are to 'e achie%ed Co"petiti%eness Sustaina'ility: it brin*s self re*ulation .or example: the .ederal #niversity was facin* some problems in the admission process the mana*ement made a strate*y and set a standard that all the students intendin* to take admission in the university will *o throu*h a aptitude test. This strate*y *ave the university an ed*e over its competitor/s universities and it made the system sustainable it brou*ht re*ulation because it set a minimum standard
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Business Research Methods

Tactics -pecific ways to achieve some or*ani0ational ob+ectives .or example our yearly sales are 1s,!!, !!! and we want to increase our sales to 1s ,!, !!,!!! per year. .or this purpose and the tar*et we will break our strate*y into different parts or ways suppose for the first year we will try to achieve the tar*et of increased sales of 2!!!!! for the 2 nd year we will increase our sales tar*et and make some ad+ustments in the strate*y to achieve these specific ways to achieve a some ob+ectives are called the Tactics.

+rd class What is a )ood research .ollowin* are some characteristics of a *ood research ,urpose clearly de!ined: the purpose of research should be clearly defined that for what purpose the research is conducted whether it is problem based or it is opportunity based. Research process detailed: the research process is the complete desi*n of the research it will be discussed in the details in the proceedin*s. Research desi)n thorou)hly planned: research desi*n is the complete frame of the research that what will be area of studies what will be the si0e of population what will be the sample si0e which probability techni3ue will be used etc. Li"itations should 'e !rankly re%ealed: all the researches are not for all the purposes there are some limitations boundaries or confines for which the research is fruitful. These limitations like time, *eo*raphy, and area should be discussed or discovered in the research.

What is pure-'asic research and applied research Basic research:


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Business Research Methods

The research for academic purpose is the pure or basic research. 4ormally this type of research is conducted by the students or teachers of the universities and educational institutions. -ome research +ournal publish the pure or basic research in their editions they have the editorial board of research which check the authenticity of the research. -ome universities release their own +ournals on weekly or monthly basis and publish the research of students and the teachers. Applied research The research conducted for a specific purpose, brand, company or situation is called the applied research. .or example if a research is conducted in the 5.6 re*ardin* the increasin* waiters turnover it will be called applied research because there is a specific purpose, company and specific situation. .th class Chapter/&

Thinkin) like researchers

Deduction and induction0 )n our daily life and research we ar*ue before *oin* or reachin* a conclusions this topic is related to *ive ar*uments Deduction: Deduction has a stron* bond between reason and conclusion in the process of deduction the purpose is to be concluded. We *enerali0e specific thin*s in deductions 1eason7, 8an is mortal (statement& 5ashif is a man 5ashif is mortal (conclusion& Induction: )n the process of induction we stimulate the thin* from specific to *eneral e.*. 6ompany spent one million dollars on promotion
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Business Research Methods


-ales did not increased Promotion campai*n was ineffective (conclusion&

Class assignment: How can induction and deduction can e used together in usiness research give e!amples of induction and deduction"
1th class What is concept and construct Concept: 9enerally accepted meanin*s of anythin*, idea or ob+ect are concept. Construct: 6onstructs are those concepts which you need to define they are hi*hly abstract in nature. What are operational de!initions and nor"al de!initions 2perational de!initions: Those definitions which are used for specific purpose or in the research are called the operational definitions 3or"al de!initions: 4ormally used definitions and synonymous used to understand.

4th class 5aria'les Types o! %aria'les0 Discrete %aria'les and continuous %aria'les
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Business Research Methods


Discrete: countable variables e.*. number of students in a class 6ontinuous: measurable variables e.*. hei*ht and wei*ht Dependent and independent %aria'les )n the law of demand/ Dependent: 3uantity demanded is dependent )ndependent: price is independent #$traneous %aria'les :ssumptions which are supposed constant

Chapter/+
6th class

The research process

Mana)e"ent dile""a )t is an issue or problem faced by the mana*ement of an or*ani0ation. .or example decline in the sales is an issue and problem for the mana*ement. Mana)e"ent 7uestion .ormattin* an issue into a 3uestion is mana*ement 3uestion. The 3uestion asked by the mana*ement about the problem or the 3uestion raised by the mana*ement of the or*ani0ation. ;.*. why sales are declinin*< =ow can we increase sales< Research 7uestions To answer the mana*ement 3uestions the researcher need the answers of some other 3uestions. .irst researcher will check the mana*ement 3uestion if the 3uestion is ri*htly
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Business Research Methods

asked re*ardin* the dilemma then he will do the exploratory research to explore the problem. ;.*. production department doin* well/ Distribution is proper/ 8arketin* department doin* well Measure"ent 7uestion: Those 3uestions which are desi*ned to answer the research 3uestions.

Assignment#$: %evelop management dilemma management question and research question Assignment#& search a research article of own interest and study the article, viva will e conducted after approval of the article"

8th class: Research process: Discover mana*ement dilemma Define mana*ement 3uestion 1esearch 3uestions 1esearch proposal
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Business Research Methods

1esearch desi*n methodolo*y Data collection and presentation Data analysis and interpretation 1eportin* the findin*s 8ana*ement decision

.avored techni3ue syndrome: )t says that one researcher is expert in different fields either he is *ood in interviews or 3uestionnaire. -ome times he favors that techni3ue in which he is *ood.

Chapter/.
9th class

Research ,roposal

1esearch proposal is an offer *iven by the or*ani0ation intendin* to conduct a research. 1.P (re3uest for proposal& is re3uired to conduct a research tendered notice is an example of 1.P. >et/s suppose if the *overnment wants a research that how the country can *et rid of be**ars 9overnment will issue a tendered notice. 1esearch proposal is re3uired in both types of researches internal research and external research. 6an the research be submitted without a research proposal< ?es it can be submitted to the or*ani0ation if the researcher thinks that the or*ani0ation can perform well he will research and submit to the or*. Contents o! the research proposal ,ro'le" state"ent: What is the actually problems that is *oin* to be solved. =ow well the problem or proposal is understood.
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Business Research Methods


2'*ecti%es o! the study: Why the research is conducted. What is the ob+ective of the research< @b+ectives should be carefully described those ob+ectives should be set which the research can meet. .or example a research was conducted on the environment friendly products. The ob+ective of the research is the products which are friendly for the environment. Literature re%ie(: )n the literature review all the research material is studied about the topic or area you selected for the research. )t is useless to find the same thin*s which have already been found by the others. =ow *ood you the studied the literature will make your research more authentic. )t is a time consumin* process Research desi)n- "ethodolo)y What is the procedure of data collection whether primary data is collected or secondary< What will be the sample, what will be the si0e, what probability techni3ue will be used< I"portance o! study What is the importance of study you have done< =ow the study is important for others Li"itations )t must be mentioned in the proposal that what are the limitations of the study. )ts *eo*raphical limitations time limitations should be frankly revealed. Schedule: -ometimes the research is based on the launch of the new product then mention the schedule of research also mention the time when the research will be submitted. Re!erence- Bi'lio)raphy 8aterial which is si*hted in the research is called 1eference 8aterial which is studied but not si*hted in the research is called Aiblio*raphy
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Business Research Methods


There are different methods of si*htin* the reference but the most preferred is =arvard method.

1:th class The research desi)n The research of every researcher will be sli*htly different from others because everyone will be usin* a different research desi*n. -ome will be usin* 3uestionnaire techni3ue some interview and different probability techni3ues. )t is basically the research structure most technical and activity based area. Types o! research desi)n

De)ree to (hich research 7uestions #$ploratory research are de!ined- re!ined ;or"al study Purpose of the research Descriptive 6ausal 8ethod of data collection 8onitorin* 6ommunication Power of the research to produce effects ;xperimental on variables under study ;xposfacto( no control on variables&

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Business Research Methods


6ross sectional >on*itude

Aased on time limitations

6hapter ,2
,,th class

8easurement

)n measurement we measure variable that vary from time to time person to person and place to place. We will specify measurement to 3uestionnaire to make it simple to understand. Characteristics o! "easure"ent: .ollowin* are the characteristics of measurement scales Classi!ication B. 4o, which brand you prefer more a& Pepsi b& 6oke c& -prite d& .anta )n the above mentioned example the brands have been classified. 2rder :t what extent you are satisfied with Pepsi< a& =i*hly satisfied b& -atisfied c& 4eutral d& Dissatisfied
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Business Research Methods

e& =i*hly dissatisfied There is an order in the statement hi*hly satisfied is *reater than then satisfied and so on. #7ual distance What is current temperature< a& ,!C2! b& 2!CD! c& D!CE! d& E!CF! A'solute ori)in What is your a*e< a& ,!C2! b& 2!CD! c& D!CE! d& E!CF! :s compared to the temperature there is an absolute ori*in in the a*e because the a*e can not be ne*ative as the temperature

Measure"ent scales on the 'asis o! characteristics 6lassification CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC4ominal scale 6lassification G orderCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC@rdinal scale 6lassification G order G e3ual distanceCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC)nterval scale 6lassification G order G e3ual distance G absolute ori*inCCCCCCCCC1atio scale

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Business Research Methods

,2th class What kind o! statistical tools can 'e applied on the "easure"ent scale We apply statistical tools to measurement son that we can come to a conclusion. 3o"inal scale: mode can be applied on nominal scale because due to the classification of the data we can easily find that which number is mostly repeated. 2rdinal scale: we can apply mode plus median to this scale because the data *iven in the 3uestion is arran*ed in an order. )f we assi*n codes to the *iven data now we can mean median and median of the data. Inter%al scale: mean median and mode can be applied to this scale of measurement Ratio scale: all the statistical tools which can be applied to the previous three scales are all applicable to the ratio scale with some additional tools because all the four characteristics of measurement scale are found in this scale.H

:ssi*nment7D submit a research proposal latest on 4ovember ,2

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