2Business Research Methods2
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Transcript of 2Business Research Methods2
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Business Research Methods
Research Process
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Definition
Business research process involves aseries of steps for conducting BR startingfrom identification of problem/opportunityto preparation of research report
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Stages of the Research Process
Problem Discoveryand Definition
ResearchDesign
Sampling
DataGathering
Data Processingand Analysis
Conclusions andReport
Discovery andDefinition
and so on
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Stages In The Research Process
Problem Discovery and Problem Definition
Planning Research Design
Selecting Research Method
Sampling Data Gathering
Data Processing and Analysis
Conclusions And Report
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ProblemIdentification
&Definition
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Problem identification Identifying problem is the first step Word problem is used in a broader context
- to define an opportunity(chance to expand operations in a foreign country )-to evaluate a programme(to evaluate professional development programme
for employees)-to clarify a problem( declining profits)
Identification is a statement in general terms .What isto be investigated is not clear
Only symptoms are apparent . profits may be declining but exact nature of problem
may not be known
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Problem definition Indication of a specific business
decision area that will be clarified byanswering some research questions
A problem well defined is a problem
half solved A well defined problem
-gives proper direction for carrying out
investigations & to set researchobjectives
-helps in effective utilisation of resources
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Problem definition
Some research problems can be
clearly defined but some need tobe explored further throughexploratory research
Conducting research in newspaper reading habit can be clearly
defined Problem of declining sales needs
to be explored further
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Problem definitionA company producing cell phone wave
protectors may realise that its newproduct is not selling but it may notknow the reason
Although problem is identified in abroader perspective it needs to bedefined specifically in terms of what is
to be researched
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Exploratory research
It aims at understanding the topic being
researched
It is undertaken in the initial stages ofresearch process.
It is an informal process that helps definingthe identified problem. It involves
-Evaluating existing studies
-Discussing problem with experts
- Analysing the situation
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Exploratory research
Tools of exploratory research include
- Collection & Analysis of Secondary data(Data that have been previously collectedfor some project other than at hand-
Review of literature)-pilot study(A small scale exploratory
research technique that uses sampling but
does not apply rigorous standards)
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Preparing Statement of ResearchObjectives
After identifying & clarifying problem with
or without exploratory research ,a formalstatement of the research objectives is tobe made.
Objectives have to be developed byanalysing purpose of research thoroughly
Objectives must be brief & specific
It is preferable to limit the number ofobjectives
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Preparing Statement of ResearchObjectives
Research objectives comprise research
questions and the hypothesis- If the objective is to study perception of
the customer a typical research question
could be Do customers perceiveradiations from cell phones hazardous tohealth ?
- Research questions such as To what
extent the new compensation programmeachieve its goal? are used in evaluationresearch
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Developing a hypothesis It is a statement based on some
presumptions that can be tested throughempirical data It makes a research question clearer and
ensures that all relevant aspects of research
are included in the research design The best expression of a research objective
is a well formed testable researchhypothesis
- Male dominated unions discriminateagainst women
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Developing a hypothesis
-If the research question is why are sales ofrefrigerators going up during winter ?-the hypothesis could be Sales of
refrigerators are going up during winter due
to off season discounts- So question on off season discount can be
included in the questionnaire duringresearch design phase
Once hypothesis is developed researchdesign can be selected
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Developing a hypothesis However a hypothesis cannot be
developed for every research question-If a company wants to know whether itssales would increase then ahypothesis Sales will increase v/s
Sales will not increasewill add novalue to research question as they arealmost the same as the researchquestion itself
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Planning A research
Design
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Planning the research design
A research design is a master plan
specifying the methods and proceduresfor collecting and analysing the neededinformation
It Should indicate
- Objectives
-Research method (Survey,Experimentetc)
-Sampling Methodology
-Time Schedule & Cost of research
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Selecting Research Methods Five basic methods of conducting a
research study-Surveys
-Experiments
-Secondary Data studies-Qualitative Techniques
-Observation techniques
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Surveys Research Technique used to gather
primary data from a sample of respondentsby employing a questionnaire Surveys are conducted by-meeting respondents in person
- contacting them through telephone- internet/ e-mail
Each has its own advantages
/disadvantages Any of these methods could be adopteddepending on their requirements
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Experiments In BR experiments are conducted to
study cause effect relationship It helps investigation of changes in one
variable (productivity) while
manipulating one or two other variables(monetary rewards)
Test marketing conducted by
companies to test viability of their newproduct is a form of businessexperimentation
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Secondary data studies It is concerned with analysis of already existing
data that is related to research topic in question Sales of a product may be related to disposable
personal income data on which can be obtainedfrom government sources and a mathematical
model could be fitted
Cell phone wave protector research secondarydata on TC set up ,mobile networking ,waves
used in wireless telephony& its effects may berequired
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Qualitative Techniques Qualitative methods are used to probe the minds
of respondents to collect factual data Used in brainstorming sessions to generate new
ideas
It involves group dynamics which gives responsesnot possible in one-to-one interview
Depth Interviews, FGDs, Projective techniques
Require behavioural specialists to analyse
findings
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Observation technique It is a process where the respondents
are merely observed without anyinterruption by the observer
Shopping pattern of customers in
supermarket assessed by observers The number of automobiles that pass
the proposed site for a petrol pump
Attitudes, opinions, motivations cannotbe recorded by this technique
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Selecting Research Methods There is no one best research method for all
situations
Selection of most appropriate researchmethod develops with experience
It also depends on type of
research(Exp/Des/Cau) In chicago museum the most popular exhibit
was found out by keeping track of how oftenfloor tiles in front of various exhibits need to
be replaced- an unobtrusive observationaltechnique.
It is not necessary to always use surveys
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SAMPLING
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Sampling
Sampling is generally a part of researchdesign but is considered separately ina research process
Sampling
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Varde Varde 28
Sampling The Process of Obtaining Information About a Whole
by Examining Only a Part
Whole = Population Part = Sample Everyday Life Concept
Example: Physician makes diagnosis on the basisof the findings of a small sample of blood
Auditors use sampling to draw conclusionsabout large volumes of transactions
Market researchers use sample ofcustomers to determine market potential
Sample Inspection is done to accept or
reject a lot?
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Why Sampling
Population too large to be studied in full
Sampling is Cheaper & Quicker ascompared to Census
Necessary in destructive testing-
Census not feasible-testing of medicines
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Purpose of Sampling
To Estimate Value of a PopulationParameter (Mean, Variance, Proportionsetc.) on the basis of Value of the
Corresponding Sample Statistic.
More Representative the Sample, MoreAccurate is the Estimate.
Bigger the Sample, Better the Estimate.
Bigger the Sample, Greater is Cost & Time
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Varde Varde 31
Sample Size
How Big Should Be My Sample?
Sample Size Depends Upon the SamplingTechnique Selected for the Purpose.
Therefore, First We Must Know About theVarious Sampling Techniques.
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Sampling TechniquesA Statistical /Probability Sample Should Be:
Selected Objectively so that InferencesDrawn from it are Reliable,
Free from Personal Biases,
Giving Equal or Known Chance ofSelection to Every Unit of the Population.
A non probability sample selectssample units on the basis of personal
judgment. It does not give equal or known chance of
selection to every unit of population
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DATA COLLECTION
Execution phase of research process begins
with data collection
There are two phases of data collection
-pre-testing for a small sub sample
-the main study Pre testing on a small scale helps
-to test if the data collection plan is appropriate
-to decide on way of tabulating collected data
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Processing &Analysing the data
Data processing starts with editing &
coding
Editing involves checking datacollection forms for omission, legibility,
consistency and other interviewererrors (entry in wrong column )
Coding involves rules for interpreting
,categorising and recording data tofacilitate computer or hand tabulation
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Analysis
It is application of analytical techniques
to understand and interpret the data Analytical techniques are determinedby
-managements information requirement
-characteristics of researchdesign(Ex/Des/Cau)
-nature of data collected
Statistical analysis
-Univariate,Bivariate or Multivariate
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Preparing & Presenting Report This is the last stage of research process
Effective communication of research findings
Research report should contain
- Executive summary
-Table of Contents
-Introduction
- Research objectives
- Research Methodolgy
- Analysis
- Findings
-Limitations
- Recommendations
- Bibliography
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Preparing & Presenting Report
Research report should not be filled up with
technical details but should portrayresearch findings most effectively as perrequirements of the management
Research report should also be presented inoral form
Written report acts as a historical document
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Research Proposal
A written statement of the researchdesign that includes a statementexplaining the purpose of the study.
Detailed outline of proceduresassociated with a particularmethodology
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Circular presentation
Conclusions from the research studiesusually generates new ideas and problemsthat need to be further investigated
Hence stages are portrayed in a circularform
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Stages of the Research Process
Problem Discoveryand Definition
ResearchDesign
Sampling
DataGathering
Data Processingand Analysis
Conclusions andReport
Discovery andDefinition
and so on