Business Research - Meaning, Definition, Characteristics and Features

In this ppt a hints are given on Business Research - Meaning, Definition, Characteristics and Features.
Subscribe to Vision Academy YouTube Channel
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw

1. Business Research – Meaning, Characteristics and Features

2. Definition According to Oxford dictionary, “Research is the systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions ” According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing, evaluating data, making deductions and reaching conclusions.

3. Business Research The application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating ideas, monitoring performance, and understanding the business process

4. Business Research Business research is more than conducting surveys. This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data and communication the findings and their implications.

5. Characteristics of Business Research Systematic – followed by steps Sound Methodology – Universally accepted Scientific Approach – Scientifically provable Objectives – blue print for research Accurate Findings – reflection of your research

6. Features of Good Research (1) Purpose Clearly defined – start and end, dimension of the problem Research Process detailed – Procedures used Research design systematically and thoroughly planned – Proper sample, data collection methods, sample unit, sample frame etc Researchers own judgments and biases should not be revealed Good research is replicable(repeatable)

7. Features of Good Research (2) Good research is empirical– objective oriented and justifiable, must yield same result if it is repeated High ethical standards applied – frankness, unbiased Limitations frankly revealed Adequate analysis for decision maker’s needs Findings presented unambiguously Conclusion justified – based on data collection Researcher’s experience reflected – in writing and presenting the report