Types of Research -Business Research Methods

Types of Research -Business Research Methods-Basic Research, Action Research, Analytical Research etc.

1. BUSINESS RESEARCH METHODS Unit 1
Types of Research & Building Blocks of Science in Research
Dr.THULASI KRISHNA. K, Ph.D.
Dept. of Management Studies,
MITS, Madanapalle, A.P.

2. TYPES OF RESEARCH
•AppliedResearch(ActionResearch)
Ithelpstosolveacurrentproblemfacedbythemanagerintheworksetting,
demandingatimelysolution.
Ex.:Researchtoidentifysocial,economicorpoliticaltrends
•BasicResearch(Fundamental,Pure)
Ithelpstogenerateabodyofknowledgebytryingtocomprehendhow
certainproblemsthatoccurinorganizationscanbesolved.Thefindingsof
suchresearchcontributetothebuildingofknowledgeinthevarious
functionalareasofbusiness.Ex:Researchstudiesconcentratingon
examiningthefinancialstatements,determininglikelymergersand
acquisitions,analysingthemarketcompetition

3. •Descriptiveresearch
Itincludessurveysandfact-findingenquiriesofdifferentkinds.Themajorpurposeofdescriptiveresearch
isdescriptionofthestateofaffairsasitexistsatpresent.
Ex:Frequenciesofshopping,preferencesofpeople
AnalyticalResearch
InAnalyticalresearchonehastousefactsorinformationalreadyavailableandanalysetheseto
makeacriticalevaluationofthematerial.
ExaminingthefluctuationsofU.S.InternationalTradeBalanceisadescriptiveresearchandexplainingwhyand
howU.S.TradeBalancemovedisananalyticalresearch.

4. •Quantitative Research
Quantitativeresearchisapplicabletophenomenathataremeasurablesothattheycanbe
expressedintermsofquantity.
Ex:Surveythatconcludesthatthepatienthastowaitforanaveragetimeoftwohoursinthe
waitingroomofacertaindoctorbeforebeingtreatedisanexampleofquantitativeresearch.
QualitativeResearch
•Qualitativeresearchisconcernedwithqualitativephenomenon.Researchdesignedtofindout
howpeoplefeelorwhattheythinkaboutaparticularsubjectisaqualitativeresearch.
•Qualitativeresearchisespeciallyimportantinthebehaviouralscienceswheretheaimisto
discoverunderlyingmotivesofhumanbehaviour

5. Conceptual Research
•Conceptualresearchisthatrelatedtosomeabstractideasortheory.It
isgenerallyusedbyphilosophersandthinkerstodevelopnewconcepts
ortointerpretexistingones.
Empirical Research
Empirical research relies on experience or observation alone. It is data
based research coming up with conclusions capable of being verified by
observation or experiment.

6. Exploratory Research
•It is an examination into a subject in an attempt to gain further insight.
•Itisatypeofresearchconductedforaproblemthathasnotbeenclearly
defined.Exploratoryresearchhelpsdeterminethebestresearchdesign,
datacollectionmethodandselectionofsubjects.

7. Why is it important for managers to know about
research?
•Solve problems
•Decision making tool
•Competition
•Risk
•Investment
•Hire researchers and consultants more effectively

8. Scientific Investigation [Building Blocks of Science in Research]
•1 Observation
•2 Identification of problem area
•3 Theoretical framework
•4 Hypotheses
•5 Research design
•6 Data collection
•7 Data analysis
•8 Data interpretation
•9 Implementation

9. Basis of Scientific Method
Thescientificmethodisbasedoncertainelementswhicharementioned
below-
•i. Reliance on empirical evidence
•ii. Use of relevant concept [Ex. Education]
•iii. Verifiability
•iv. Generalisation
•v. Logical reasoning process [Induction and Deduction]

10. •THANK YOU