Business research methods Introduction

Business Research Methods

BBM IV Semester

Group Presentation

Sunday, May 17, 2015 1Prepared by: Ramesh

Use of Basic and Applied research technique in Business Sector


What is research?

Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.

Introduction to Research


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).


Types of Business research.

1.Applied research Is to solve a current problem faced by the

manager in the work setting, demanding a timely solution.

Conducted when a decision must be made about a specific real-life problem


2.Basic research (fundamental, pure) Is to generate a body of knowledge by trying to

comprehend how certain problems that occur in organizations can be solved.

The findings of such research contribute to the building of knowledge in the various functional areas of business.

Attempts to expand the limits of knowledge. Not directly involved in the solution to a

pragmatic problem.Sunday, May 17, 2015 6Prepared by: Ramesh

Why is it important for managers to know about research?

Solve problems Decision making tool Competition Risk Investment Hire researchers and consultants more

effectively


The research process

1 Observation 2 Data gathering 3 Problem definition 4 Theoretical framework (variables identified) 5 Hypotheses 6 Research design 7 Data collection,analysis,interpretation 8 Deduction 9 Report writing 10 Report presentation 11 Managerial decision making


Major Topics for Research in Business General Business Conditions and Corporate

Research Financial and Accounting Research Management and Organizational Behavior

Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research


Business Research in the 21st Century Increased globalization Growth of the Internet and other information

technologies Business Research is increasingly global Market knowledge is essential


Conclusion

Earlier we used to use the general research for generating new ideas and knowledge and now we are using various research methodology like applied research, basic research, business research, scientific research, action research for the expansion of new ideas and to solve the specific problem.

In business sector we can either generate new knowledge and ideas that is basic research or to solve specific problem regarding business sector.


"Well begun is half done" -Aristotle, quoting an old proverb


Business research methods Introduction

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