BUSINESS RESEARCH

METHOD
Objective and systematic process of gathering, recording
and analyzing data for making effective business decisions
 Business Decision

 Effective decision reduces the element of risk and uncertainty

lead to success in business.

 This can be achieved through

• On the job experience
• A strong gut feeling
• A gambler’s luck
• Followed a structured approach to collect and analysis information and
then eventually subjected it to the business decision.
 Research

 A research should work towards a goal whether immediate or

futuristic, else the research loses its significance.

 Research is
• Unbiased
• Structured
• Sequential method of enquiry
• And directed towards a clear implicit or explicit objective.

 This enquiry might lead to

• validating existing postulates
• or arriving at new theories, concept, or models.
 Types of Research
BUSINESS RESEARCH

BASIC RESEARCH APPLIED RESEARCH

EXPLORATORY CONCLUSIVE RESEARCH

RESEARCH

DESCRIPTIVE RESEARCH CAUSAL RESEARCH

 Types of Research

 Basic or pure-research:
 Expand the limits of knowledge or to develop concepts and theories.

 Applied research:
 Conduct when a decision related to a specific real-life problem.

 Exploratory research:
 Researcher gain better understanding of the concept and provides direction
in order to initiate a more structure research.

 Conclusive research:
 Authenticates the propositions revealed by exploratory research.
 Types of Research

 Descriptive research:
 Describing the data and characteristics about object / situation / concept
under study.

 Causal research:
 Explores the effect of one or more thing on other.

 Procedures and techniques utilized by all these research do not

differ substantially, all employ the scientific method.
 Research Process

 Business research no matter what the objectives are, it needs

to follow a sequential and structural path.

 The stages might overlap and sometime be bypassed or

eliminated in some research studies.

 While conducting research, information is gathered through a

sound and scientific research process.
 Research Process
Management Dilemma
Basic vs Applied

Defining the Research Problem

Formulating the Research Hypothesis

Developing the Research Proposal

The Research Framework

Research Design

Data Collection Plan Sampling Plan

Instrument Design

Pilot Testing

Data Collection

Data Refining and Preparation

Data Analysis & Interpretation

Research Reporting

Management / Research Decision

 Research Process

 Management dilemma
• Soft drink manufacturer want to test the acceptability of fruit based juices
to his product portfolio.

 Defining the research problem

• Consumer’s perception of fruit based juices in Delhi

 Formulation of the working hypotheses

• Relationship between education and purchasing intention

 Construction of the research proposal

• Research problem, scope, objective and operational plan of the study
 Research Process

 Formulating the research design

• Based of exploration, descriptive or causal used technique for testing
objective.

 Sampling considerations
• Representation of sample selection from population (probabilistic and
non probabilistic.

 Collecting the data for the study

• Primary or secondary sources of data which are reliable and has validity.

 Data analysis and interpretation of findings