Business Research process-UNIT1_MBA.pptx

Business Research, types and process

1. UNIT 1 Business Research

2. Introduction to Research What is research ? Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors. To identify and find solutions to the problem To help make decisions To find alternative strategies To develop new concepts

3. .What is business research? Research provides the needed information that guides managers to make informed decisions to successfully deal with problems. The information provided could be the result of a careful analysis of data gathered firsthand or of data that are already available (in the company).

4. Objectives of Research Promotes decision making Basis for information Identifies problem areas Helps in forecasting Formulation of policies and strategies Development of new products Optimal utilization of resources Evaluating marketing plans

5. Types of Research Exploratory research Descriptive research Applied research Pure/Fundamental research or Basic research Conceptual research Causal Research Historical Research Ex-post facto research Action research Evaluation research Library research

6. Criteria or Characteristics of a good research A good research should be systematic A good research should be logical A good research should be empirical A good Research is Replicable

7. Research Process What is a research problem? What is research methodology? How to design a research plan? What are the steps involved in designing research?

8. Research Problem Difficulty which an organization faces and wishes to obtain a solution for the same. “Problem clearly stated is half solved” Define the problem correctly

9. SELECTING THE PROBLEM Subject which is overdone should not be normally chosen, for it will be a difficult task to throw any new light in such a case Controversial subject should not become the choice of an average researcher Too narrow or too vague problems should be avoided The subject selected for research should be familiar and feasible so that the related research material or sources of research are within one’s reach The importance of the subject, the qualifications and the training of a researcher, the costs involved, the time factor are few other criteria that must also be considered in selecting a problem

10. DEFINING THE PROBLEM A proper definition of research problem will enable the researcher to be on the track whereas an ill-defined problem may create hurdles. Questions like: What data are to be collected? What characteristics of data are relevant and need to be studied? What relations are to be explored. What techniques are to be used for the purpose?

11. TECHNIQUE INVOLVED IN DEFINING A PROBLEM Statement of the problem in a general way – Pilot survey Understanding the nature of the problem – Discussion with experts Surveying the available literature – Identifying gap Developing the ideas through discussions – Experience survey Rephrasing the research problem - Hypothesis Ex: Why is productivity in Japan so much higher than in India”?

12. TECHNIQUE INVOLVED IN DEFINING A PROBLEM What factors were responsible for the higher labour productivity of Japan’s manufacturing industries during the decade 2001 to 2005 relative to India’s manufacturing industries?”

13. What is research methodology? It is a method to solve the research problem systematically Blue-print of the research

14. Research design/Plan Important steps in marketing research Plan to achieve the objectives of the study Questions to be answered

15. Steps involved in designing a research/Research process Formulate the problem Evaluate the cost of the research Prepare the list of information Research design decision Determine the sample size Organize the field work Data collection Analyze the data and report preparation

16. Difference between management and research problem Management problem Objective is to prevent the problem or to minimize the impact of problem Focus on the symptoms of the management problem Action oriented Research Problem It is about the data collection, sampling and analysis of data Focus on the cause only Data oriented

17. Research Brief What is the research requirement? Clear picture of what to collect? Helps to avoid disputes between the client and the researcher

18. How to write research proposal? Purpose of proposed research Type of study Target population/group to be defined Sample size Sample design Data collection Research instrument Benefits Estimation of the cost of the project Profile of the research firm Presentation