Business Research Methodology Chapter 1 pptx

Business Research Methodology Chapter 1

1. RESEARCH METHODOLOGY Why Study Research Methodology ? II. What is Research ? III. Why Conduct Research ? IV. When is Research Conducted ? V. How is Research Conducted?

2. Why Study Research Methodology?     The study of research methodology provides you with the knowledge and skills that you need to identify problems, opportunities and solve problems. In addition it can also change your attitude (judgments) towards certain phenomena/things/people.   Value of Acquiring Skills in Research: 1. As a decision maker you need more information before selection of a course of action. 2. You may be called on to do a research study (in a job or in a higher degree course). 3. Evaluation of research services from others. 4. Evaluation relevance and applicability of prior research. 5. May want to establish a career as a research specialist.

3. II. What is Research?     Some Definitions : In simple terms, “ research is a way of going about finding answers to questions.”   “The systematic and objective process of gatheirng , recording and analysing data for aid in making business decisions.” ( Zikmund , 1997)   “ As a systematic inquiry that provides information to guide business decisions.” (Cooper and Schindler, 1998)   “As a systematic and organised , systematic, databased , critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers and solutions to it.” ( Uma Sekaran , 2000).  

4. Classification of Research (by purpose, method and type of data):   A. By Purpose:   1.Basic Research Conduct for the purpose of theory development and refinement.   2. Applied Research Conduct for the purpose applying and testing theory and evaluating its usefulness in business and management problems.   3. Evaluation Research Conduct for the purpose to facilitate decision making regarding the relative worth of two or more alternative actions or choices.   4.Research and Development (R&D) Conduct for the purpose of developing new and effective products and processes.   5.Action Research  

5. B. By Method:   1. Historical Research Involves studying, understanding and explaining past events.   2.Descriptive Research Involves collecting data in order to answer questions concerning the current status of the subject of the study. For example to find out the characteristics of objects, events and people and it attempts to provide answers to questions such what, why, when, how and where.   3.Correlational Research Attempts to determine whether, and to what degree, a relationship exists between two or more variables.   4.Causal research To determine whether there is cause and effect relationship between two or more independent and dependent variables.            

6.   C. By Type of Data Used:   1.Quantitative Research:   Involves the use of structured questions where the response options have been predetermined and a large number of respondents is involved (such as a survey).   2. Qualitative Research:   Involves collecting, analyzing, and interpreting data by observing what people do and say. Observations and statements in a qualitative or non standardized form. Because of this, qualitative data can be quantified but only after a translation process has taken place. For example, if you asked five people to express their opinion on a certain topic ( such as an exploratory study or case study).  

7. III. Why Conduct Research?     Research is conducted to gather information and produce knowledge that can facilitate effective management. It helps in decision making by reducing uncertainty and ambiguity. For instance, business research helps to reduce uncertainty in each of the following areas: 1. Identifying problems or opportunities 2. Selecting and implementing a course of action 3. Evaluating the course of action.  

8. ALTERNATIVES TO RESEARCH: 1 . Authority 2. Tradition 3. Common Sense 4. Media Myths 5. Personal Experience

9. IV. When Is Research Conducted? The determination of the need for research centers on: 1 .Time constraints 2 .The availability of data 3 .The nature of the decision 4 . Benefits versus costs

10. V. How To Conduct A Research (The Research Process)?   The Research Process consist of : Defining the Research Problem Planning the Research Design Planning the Sample Gathering of the Data Processing and Analyzing the Data Formulating the Conclusions and Preparing the Report