Business-Research-Methods-1.ppt, Nature of research

Research is very important these days for all industries

1. MBA III (Research Methodology)
1
RESEARCH
METHODOLOGY
(Business Research Methods)
Week 1

2. MBA III (Research Methodology) 2
ComprehensiveintroductiontoResearchMethodology(Business
ResearchMethods)
Knowledgeacquisitionباستكلااandapplicationofsubjectmatterto
real-lifesituations
Courseliterature
Useofmultimediavisualaids(MSPowerPointslides)
Referencetocasestudieswhendesirable
Encouragementofquestions,commentsandconstructivecriticism
دقنلاfromcourseparticipants
Analyticalandcriticalthinking,inquisitivenessلوضفلاaswellas
commonsensefromcourseparticipantsalsoexpected
How This Course Will Be Conducted

3. 3
Course Highlights
•Introduction to research
methodology
•Research Terminology and the
Scientific Method
•Designing and implementing a
research project
•Ethics in Research
•Types of Research
•Measurements in Research
•Primary and Secondary Data
•Analyzing primary and
secondary data (quantitative
techniques)
•Communicating Research
Results
•Undertaking Research Project
by the course participants

4. 4
What is Business Research?
•BusinessResearchmaybedefinedasthe“systematic
andobjectiveprocessofgathering,recordingand
analyzingdataforaidinmakingbusinessdecisions”
(Zikmund,BusinessResearchMethods,2002,p.6)
•SystematicnessandObjectivityareitsdistinguishing
featuresofBusinessResearch,whichisimportanttool
formanagersanddecision-makersincorporateandnon-
corporateorganizations

5. 5
When is Business Research Used?
Typically,businessresearchmethodsareusedin
situationsofuncertainty,thatis,whendecision-makers
facetwoormorecoursesofactionandseektoselect
thebestpossiblealternativeunderthecircumstances.
BusinessResearchishenceaimedatimprovingthe
qualityofdecision-makingwhich,inturn,benefitsthe
organizationandhelpsensureitscontinuityand
efficiency

6. 6
Typical Users of Business Research Methods
•Businesses and Corporations
•Public-Sector Agencies
•Consulting Firms تاكرشلا
•Research Institutes
•Non-Governmental Organizations NGO
•Non-Profit Organizations
•Independent Researchers and Consultants

7. 7
Common Business Research Methods &
Techniques
•Surveys
•Interviews
•Observation
•Experiments
•Archival and Historical Data
•Qualitative Analysis
•Quantitative Analysis

8. 8
General Business Conditions and Corporate Research
•Short-& Long-Range Forecasting
•Business and Industry Trends تاهاجّتلإا
•Global Environments
•Inflation and Pricing
•Plant and Warehouse Location
Fields Where Business Research is Often Used –(1)
Management and Organizational Behaviour Research
•Total Quality Management
•Morale and Job Satisfaction
•Leadership Style
•Employee Productivity
•Organizational Effectiveness
•Structural issues
•Absenteeism بايغلاand turnover
•Organizational Climate

9. 9
Financial and Accounting Research
•Forecasts of financial interest rate trends ةيلاملا ةدئافلا راعسأ تاهاجتا تاعقوت
•Stock مهسلا,bond دنّسلاand commodity ةعلسلاvalue predictions
•capital formation alternativesلاملا سأر نيوكت لئادب
•mergers and acquisitions ذاوحتسلااو جامدنلاا تايلمع
•risk-return trade-offs تاضياقملا دئاوعلاو رطاخملا
•portfolio analysis
•impact of taxes بئارضلا ريثأت
•research on financial institutions
•expected rate of return دئاعلل عقوتملا لدعملا
•capital asset pricing models ةيلامسأرلا لوصلأا ريعست جذامن
•credit risk نامتئلاا رطاخم
•cost analysis فيلاكتلا ليلحت
FieldsWhere Business Research is Often Used –(2)

10. 10
Sales and Marketing Research
•Market Potentials قوسلا تاناكمإ
•Market Share مهسلاا قوس
•Market segmentation قوسلا ةئزجت
•Market characteristics
•Sales Analysis
•Establishment of sales quotas تاعيبملا صصح ديدحت
•Distribution channels
•New product concepts ميهافم
•Test markets رابتخلاا قاوسأ
•Advertising research
•Buyer behaviour
•Customer satisfaction
•Website visitation rates عقوملا ةرايز تلادعم
Fields Where Business Research is Often Used –(3)

11. 11
Information Systems Research
•Knowledge and information needs assessment مييقت تامولعمو ةفرعم
تاجايتحلاا
•Computer information system use and evaluation تامولعملا ماظن مادختسا
مييقتلاو ةيبوساحلا
•Technical suppot satisfaction
•Database analysis تانايبلا ةدعاق ليلحت
•Data mining تانايبلا جارختسا
•Enterprise resource planning systems تاسسؤملا دراوم طيطخت مظن
•Customer relationship management systems ءلامعلا تاقلاع ةرادإ مظن
Fields Where Business Research is Often Used –(4)

12. 12
Corporate Responsibility Research
تاكرشلا ةيلوؤسم ثوحب
•EcologicalImpact رثلأايئيبلا
•LegalConstraintsonadvertisingandpromotion دويقلاةينوناقلاىلعنلاعلإا
جيورتلاو
•Sex,ageandracialdiscrimination/workerequity سنجلارمعلاوزييمتلاو
يرصنعلا/لماعفاصنلإا
•Socialvaluesandethics ميقلاةيعامتجلااقلاخلأاو
Fields Where Business Research is Often Used –(5)

13. 13
Selected Examples of Real-Life Situations in
Which Business Research Methods are Used
Afirmةكرشwantstoproduceandmarketanewproductbutfirstwantsto
ascertainifthereisapotentialconsumerdemandforthisproductin
marketsx,yandz
amultinationalfirm ةكرشةددعتمتايسنجلا wantstoestablishaproduction
facilityinanothercountryafterdeterminingitstechnicalandeconomic
feasibility
Agovernmentagencywantstoascertainthesatisfactionlevelofits
employees,thecausesforanypossiblediscontentءايتسا,andproposea
schemeforenhancingthislevel
Afinancialinstitutionwantstoinvestincommoditiesعلسلاand
commissionsastudytodeterminethepasttrendsandforecastfuture
returnsinaportfolioofcommodities ديدحتتاهاجتلااةقباسلاتاعقوتودئاوعلاةيلبقتسملا
يفةعومجمنمعلسلا
TheCEOofafirmwantstoundertakeaSWOT-Analysisaspartofhis
plantoredefinehisorganization’spriorities

14. 14
SWOT Analysis
SWOT analysis(alternativelySWOT
Matrix)isastructuredplanningmethod
usedtoevaluatetheStrengths,
Weaknesses,Opportunities,andThreats
involvedinaprojectorinabusiness
ventureةرماغم.ASWOTanalysiscanbe
carriedoutforaproduct,place,industryor
person.Itinvolvesspecifyingtheobjective
ofthebusinessventureorprojectand
identifyingtheinternalandexternalfactors
thatarefavorableandunfavorableto
achievingthatobjective.

15. 15
Basic and Applied Research
BasicResearchaimstoexpandthefrontiersدودحلا
ofscienceandknowledgebyverifyingordisprovingنلاطبthe
acceptabilityofagiventheoryorattemptingtodiscovermore
aboutacertainconcept(non-specificity)
AppliedResearchfocusesonareal-lifeproblemor
situationwithaviewtohelpingreachadecisionhowtodeal
withit(Specificity)

16. 16
Science and the Scientific Method
Sciencehasbeendefinedas“themethodologicalandsystematic
approachtoacquisitionباستكاofnewknowledge”(Geoffrey
Marcyzk,DavidDeMatteo,DavidFestinger,Essentialsof
ResearchDesignandMethodology,JohnWiley&Sons,2005,p.
4).
Thescientificmethod,whichhasevolvedsincethe13
th
century,
concernsthesetoftools,techniquesandproceduresusedby
basicandappliedresearcherstoanalyzeandunderstand
phenomenaandproveordisprovepriorconceptions.

17. 17
The Essence رهوج
of the Scientific Method
Characteristics of the Scientific Method
Objectivity
Systematic Analysis
Logical Interpretation of Results
Elements of the
Scientific Method
Empirical Approach
Observations
Questions
Hypotheses
Experiments
Analysis
Conclusion
Replication خاسنتسلإا
Basic
Research
Applied
Research
Scientific
Method Information or
Ideas for alternative
Courses of action
General Laws

18. 18
The Value of Business Research for Managers–(1)
Reductionofuncertaintyandimprovementinthequalityof
decision-makingwithseveralconsequentadvantages(e.g.
strategic,operational)andbenefitsfororganizations
BusinessResearchMethodscanbeemployedineachofthe
followingfourstages:
(1)Identificationofproblemsand/oropportunities
Usefulforstrategyplanning,analysisofinternaland
externalorganizationalenvironment

19. 19
The Value of Business Research for Managers –(2)
(2)DiagnosingandAssessmentofproblemsand/oropportunities
Itspurposeistogaininsightintotheunderlyingreasonsand
causesforthesituation.Ifthereisaproblem,itaskswhat
happenedandwhy?Ifthereisanopportunity,itseeksto
explore,clarifyandrefinethenatureoftheopportunityand,in
thecaseofmultipleopportunities,seekstosetpriorities
(3)SelectionandImplementationقيبطتofCoursesofAction
Afteralternativecoursesofactionhavebeendetermined,
selectionofthebestpossiblecourse.

20. 20
The Value of Business Research for Managers –(3)
Animportantconsiderationisthequalityofforecastingwhich
isanessentialtoolofresearch
(4)EvaluatingtheCourseofAction
BusinessResearchMethodsareusedafteracourseof
actionhasbeenimplementedinordertodeterminewhether
activitieshavebeenproperlyimplementedandhave
accomplishedwhattheyintendedtodo

21. 21
The Value of Business Research for Managers –(4)
EvaluationResearch–Itistheformalobjectivemeasurementand
evaluationprojectorprogramhasachieveditsgoaloftheextent
whichanactivity,andthefactorswhichinfluenceperformance.Itis
alsotheformalobjectivemeasurementandevaluationoftheextent
towhichon-goingactivities,projectsorprogramsaremeetingtheir
goals(performance-monitoringresearch)
Examplesofperformance-monitoringresearch:
(1)Arerailwaypassengerssatisfiedwiththelevelofservicethe
railwaycompanyisproviding?Ifnot,thenresearchmayneedto
beundertakentoascertainthereasonsforcustomer
dissatisfactionandproposecorrectivemeasures
(2)Whatarethetrendsتاهاجّتلإاinretailandwholesalesector?Can
researchsuggestnewwaystoimproveefficiencyinpurchase
transactions?

22. 22
When Should Business Research be Undertaken?
Is sufficient time
available?
Is information
adequate?
High importance
of decision?
Research benefits
greater than costs?
Yes
Yes
Yes
Undertake Business Research
NO
Do not
undertake Business Research

23. 23
Value and Costs of Undertaking Business
Research
VALUE
Decreased Uncertainty
Higher Likelihood of
Correct Decisions
Better Business
performance
Higher Profits
Better Reputation
COSTS
Research Costs
Delay in Making
Business Decisions
Disclosure of
Information to Rivals
نوسفانملا
Possibility of Error

24. 24
The Building Blocks of Research
Measurements of phenomena
(e.g. sales statistics of a department store)
DATA
Determination of relationship amongst data with a
view to facilitating understanding of the phenomena,
their relationships and decision-making
(e.g. past and predicted future sales trends)
INFORMATION
KNOWLEDGE
Blend طيلخof information, experience and in-sights that
provides a framework that can be thoughtfully سوردم لكشب
evaluated when assessing new information or evaluating
relevant situations

25. 25
Demands on Data & Information
•Relevancetotheproblemorsituationathand
•Mustbeavailableinatimelymannertotherightperson(manageror
decision-maker)
•Completeness
•Accuracy
•Accessibilityةلوهسلانملا
•Affordability
•Abilityintodecision-supportsystem ةردقلايفماظنمعدرارقلا

26. 26
Global Information Support Systems
AGlobalInformationSystemmaybedefinedas“an
organizedcollectionofcomputerhardware,communication
equipment,software,data,andpersonneldesignedto
capture,store,update,manipulate,analyze,andimmediately
displayinformationaboutworldwidebusinessactivities”
AGlobalInformationSystemisatoolforprovidingpast,
currentandprojectedinformationoninternaloperationsand
externalactivity.Itorganizesandintegratesلماكي
datafromproduction,operations,marketing,finance,
accountingandotherbusinessfunctions

27. 27
Decision-Support System
•Acomputer-basedsystemthathelpsdecisionmakersconfront
problemsthroughdirectinteractionwithdatabasesandanalytical
softwareprograms
•Thepurposeofadecisionsupportsystemistostoredataand
transformthemintoorganizedinformationthatiseasilyaccessibleto
decision-makers
•Decision-SupportSystemsareintegratedلماكتمinGlobalInformation
Systems.Theyareaimedusuallyforassistingmanagersand
decision-makersinspecificorganizationalbusinessunits(e.g.
divisions,departmentsandfunctionalareas)byprovidingorganized
andadaptableinformation

28. 28
Databases & Software
•Databasesarecollectionsofrawdatawhichhavebeenarranged
inalogicalmannerandwhichcanbestoredandprocessed
electronically
•Softwareareprogramsthatallowcomplexoperationstobe
undertakenondataandwhichgiveinformationformanagersand
decision-makers
•DataWarehousing&DataMining نزاخمتانايبلاجارختساوتانايبلا

29. 29
Data and Information Sources for Business
Researchers –(1)
Internal Records
Example:Dataaboutcosts,shipments,inventoryدرجلا,sales,andother
aspectsofregularoperationswhicharecollectedfromvariousfunctional
areasofanorganization
ProprietaryBusinessResearch
Example:Newdataandinformationfromprojectswhichareundertakento
studyspecificcompanyproblems
BusinessintelligenceSystems
Example:Informationaboutnonrecurring ريغعوجر developmentsinthe
external business environment stemming لاصئتسلإا
fromanetworkofsourcesandregularprocedures

30. 30
Data and Information Sources for Business
Researchers –(2)
On-Line Databases
Examples:PROQUEST,INFOTRAC,DIALOG,LEXIS-NEXIS,DowJones
NewsRetrievalServices,CompuStat
Internet
Examples:WorldWideWebsearchengines(Google,Yahoo,Altavista,
Lycos,Exciteetc.)
AllOtherSources
Examples:ResearchInstitutions,Libraries,Books,Journals,Periodicals,
Newspapers,ChambersofCommerceandIndustry

31. 31
Business Research in the International Context
BusinessResearchisbeingincreasinglyappliedinaninternational
contextinthewakeofglobalizationandtheconsequentfreedomof
movementoftheresourcesoflabor,capitalandinformationof
businessesandcorporations:
•Frameoverseasmarketpotential
•Jointventuresandrelocatingproductionlinesoverseas
•workconsiderationsforinvestmentandtrade(e.g.culture,legal
environment,security,physicalinfrastructure,availabilityandquality
ofhumanresources,logistics,politicalstability,tradeandinvestment
incentives)

32. 32
Data and Information Sources for Business
Researchers (Pakistan)
•Federalandprovincialministriesofcommerce,industriesand
production
•Federal,provincialandcityChambersofCommerceandIndustry
•StateBank,localandforeignbankinginstitutions
•StockExchanges
•NationalInvestmentBoard
•ExportPromotionBureau
•Manufacturers,TradersandExportersAssociations
•ResearchInstitutes(e.g.InstituteofDevelopmentEconomics)
•NewspapersandMagazines
•BusinessandTradeDirectories
•Internet

33. 33
Business Recorder
(www.brecorder.com)