Business research

1. Introduction to Business Research Prepared by: mahrukh pervaiz

2. Business research is defined as the systematic and objective process of generating information for aid in making business decisions . Including financial research, operational research, Marketing research Business Research

3. Scope of business research Business research helps decision makers shift from intuitive information gathering to systematic and objective investigation. While researchers in different functional areas may investigate different phenomena, they are comparable to one another because they use similar research methods. The scope of business research is limited by one’s definition of “business”. A broader definition of business includes not-for-profit organization. The term “Business Research” is utilized because all its techniques are applicable to business settings.

4. Classification of research Purpose of doing research Intended uses of research Time dimension of research Research techniques

5. Basic research Applied research Purpose of doing research

6. Basic Research Basic (Pure) Research attempts to expand the limits of knowledge. It is not directly involved in the solution to a pragmatic problem. The findings generally cannot be immediately implemented. Basic research is conducted to verify the acceptability of a given theory or to know more about a certain concept.

7. Applied Research Conducted when a decision must be made about a specific real-life problem They want to answer a policy question or solve a pressing social , and economic problem Types of applied research: Action research Impact assessment research Evaluation research

8. Time dimension in research Cross sectional research: In cross sectional research , researchers observe at one point in time Longitudinal research: Researcher using longitudinal research examine feature of people or other units at more then one time

9. Research techniques Every researcher collect data using one or more techniques: 1.Quantitative Collecting data in the form of numbers Main techniques: experiment survey content analysis using existing statistic 2.Qualitative Collecting data in the form of words or picture Main technique: field research case study focus group

10. Scientific Method The analysis and interpretation of empirical evidence (facts from observation or experimentation) to confirm or disprove prior conceptions.

11. Managerial value of business research The Decision-making Process Associated with the Development and Implementation of a Strategy Identifying problems and opportunities Diagnosis and assessment Selecting and implementing a course of action Evaluating the course of action

12. Evaluation Research Evaluation research is the formal, objective measurement and appraisal of the extent to which a given activity, project, or program has achieved its objectives. Performance-monitoring Research Research that regularly provides feedback for evaluation and control Indicates things are or are not going as planned Research may be required to explain why something “went wrong”

13. Determining When to Conduct Business Research Time constraints Availability of data Nature of the decision Benefits versus costs Value versus Costs Potential Value of a Business Research Effort Should Exceed Its Estimated Costs

14. Value Decreased certainty Increased likelihood of a correct decision Improved business performance and resulting higher profits Costs Research expenditures Delay of business decision and possible disclosure of information to rivals Possible erroneous research results Value Should Exceed Estimated Costs

15. Major Topics for Research in Business General Business Conditions and Corporate Research Financial and Accounting Research Management and Organizational Behavior Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research