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Over view of Business research

methods

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The term research can be defined and redefined as follows:

 Research as “a careful investigation or inquiry especially through search

for new facts in any branch of knowledge.”

 It is an organized, structured, exact, and rigorous method used to solve

issues or find and analyze new information and connections.
 It is a systematic inquiry to describe, explain, predict, and control the
observed phenomenon.
 It is actually a voyage of discovery.

 “the manipulation of things, concepts or symbols for the purpose of

generalizing to extend, correct or verify knowledge, whether that
knowledge aids in construction of theory or in the practice of an art.”

 It is a scientific/systematized method of acquiring knowledge .

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Objectives of Research

 It provides you with the knowledge and skills needed for the fast-paced
decision-making environment

 To gain familiarity with a phenomenon or to achieve new

insights into it.

 To portray/reveal accurately the characteristics of a particular

individual, situation or a group.

 To determine the frequency with which something occurs or

with which it is associated with something else.

 To test a hypothesis of a causal relationship between

variables
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Motivation for Doing Research

Desire to get degree with its consequential benefit

Desire to get respect and promotion (to own respect in society):

Publish or perish

Desire to face a challenge in solving the unsolved problem

Desire to get intellectual joy of doing some creative work

Directive of government

Employment condition

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Types of Research
Basis of Type of research
classification
outcome of the Fundamental
Applied
research
 Exploratory
Purpose Descriptive
Analytic
Predictive

Qualitative
Process Quantitative

Field
Environment Laboratory
Simulation

oOne -time
Time oLongitudinal

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1) Research Based on its outcome

Whether the research tries to solve a particular problem

or makes a general contribution to the knowledge,
research can be fundamental or applied.

a) Fundamental Research:
also called academic, basic or pure research.
aimed at investigating or searching for new principles and
laws and also generalization and formulation of a theory.
organized only for the attainment of knowledge and truth.
 “Gathering knowledge for knowledge’s sake”
E.g.
Darwin Theory of Evolution
Newton’s Law of Motion
Einstein Theory of Relativity
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b) Applied research
 A research aimed at finding a solution for an immediate

problem facing a society, a group or industry (business

organization).

 The results of such research would be used by either individuals

or groups of decision-makers or even by policy makers.

 While pure research discovers principles and laws, applied

research discovers their application in solving some social,
economical or any other problems.
E.g.
The improvement of safety in the working place
The reduction of wastage in the working places

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Types of Applied researches

a) Social impact Analysis: used to estimate the likely

consequences of a planned change.

Potential areas assessed in social impact

analysis includes:

Community service (School enrolment, speed of policy

respond)
Social conditions (crime rate )
Economic impact (change in income level)
Demographic consequences (change in the mix of old and
young people, population movement in or out of the area)
Environment impact
Health outcomes and so on.
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b) Evaluation research: it is a widely used type of

applied research that addresses the question, “did it work?’

 Evaluation research measures the effectiveness of a

program, policy or way of doing something.
Example:
 Does the new incentive scheme improve workers job
performance?
 Does the environmental policy improve the environmental

problem of the city?

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2) Research Based on its Purpose

According to Kothari, based on the reason why research

be conducted, it can be divided as follows:

a) Exploratory research (Pilot Survey)

 It is also called preliminary research.

 it is aimed at discovering, identifying and
formulating a research problem and hypothesis.
 When there are few or no studies that can be
referred such research is needed.

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b) Descriptive Research

 Also called ex-post facto research.

 The main purpose of such research is description of the state of nature or

affairs as it exists at present and the researcher has no control over the
variables; he can only report what has happened or what is happening.

 Descriptive studies also include attempts by researchers to discover causes

though they cannot control the variables.

Example:

 What is the absentee rate in a particular office?

 What is the qualification of different groups of employment?
Frequency of shopping
Preferences of people

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Goals of Descriptive research

۩ To provide an accurate profile of a group.

۩ To describe a processes, mechanism or relationship

۩ To provide a verbal or numerical picture about a phenomenon.

۩ To find information to stimulate new explanations.

۩ To present basic background information on a context.

۩ To create a set of categories or classify types.

۩ To document information that contradicts prior beliefs about a subject.

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c) Analytic Research:
 Analytical research uses facts or information already available,

and analyzes them to make a critical evaluation of the material.

Not only describe the characteristics, but also it analyzes and
explains why and how it happened or is happening.

 When a researcher encounters an issue that is already known and

have a description of it, you may begin to ask “why” things are the
way they are.
Example:
 How can we reduce the numbers of complaints made by customers?
 How can we expand the range of our services?
 How can we improve the delivery times of our products?

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Goals of Analytical Research

 To determine the accuracy of a principle or a theory.

 To find out which competing explanation is better.

 To advance knowledge about an underling process.

 To link different issues or topics under a common general statement.

 To build and elaborate a theory so it becomes more completed.

 To extend a theory or principle into new areas or issues.

 To provide evidence to support or refuse an explanation or prediction

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D) Predictive Research

 Such research goes beyond explaining why and how things

happened.
 It predicts (forecast) the possible (probability of happening

similar situation in other places.

 It tries to explain about the probability of happening

similar thing in the future.

Example:
 How would an increase in interest rate affect our profit
margin?
 What type of packaging will improve the sales of our
products?

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3) Research Based on its Process

On the basis of data used in the research process research can be:

 Qualitative Research: Such research is applicable for phenomenon that

cannot be expressed in terms of quantity; Things related to quality and kind.

Research designed to find out how people feel or what they think about a
particular subject or institution is an example of such research.
/Question –how? The technique?/

 Quantitative Research: Quantitative research is concerned with

quantitative phenomenon. It is based on the measurement of quantity or
amount. It is applicable for phenomenon that can be expressed in term of
quantity.
 /Question --- when is it applicable??/

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4) Research based on the environment

On the basis of the environment in which the research is carried out,

research can be:

i. Field research: It is a research carried out in the field. Such research is

common in social science, agricultural science, history and archeology.

ii. Laboratory research: It is a research carried out in the laboratory.

These are commonly experimental research. Such researches are
common in medical science, agriculture and in general in natural
sciences

iii. Simulation research: Such research uses models to represent the real
world. Simulation is common in physical science, economics and
mathematics.
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5) Research Based on the time

Due to the time required to accomplish the total research process, it can be
categorized as:
a) One -time research: It is a research limited to a single time period.
 also called cross-sectional research.

b) Longitudinal research: It is a research carried out over several time periods.

also called on-going research.

6) Conceptual vs. Empirical

 Conceptual research is that related to some abstract idea(s) or theory

 Empirical research relies on experience or observation alone, often without due

regard for system and theory

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Significance of Research

Even if research in its nature gives diverse significances, the following were the
major ones:

 To those students who are to write a senior essay, master’s thesis or PhD
dissertation, research may mean a careerism or a way to attain a high position in
the social structure

 To professionals in research methodology, research may mean a source of

livelihood /income/.

 To philosophers and thinkers, research may mean the outlet for new ideas and
insights.

 To literary person, research may mean the development of new styles and
creative work.

 To analysts and intellectuals, research may mean the generalizations of new

theories.
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Criteria of Good Research

In order to state a certain research as a good research, the following

issues must be satisfied:

 The procedural design of the research should be carefully planned

to yield results that are as objective as possible.

 The purpose of the research should be clearly defined and

common concepts be used.

 The researcher should report with complete frankness, flaws in

procedural design and estimate their effects upon the findings

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 The analysis of data should be sufficiently adequate to

reveal its significance and the methods of analysis used
should be appropriate. The validity and reliability of the
data should be checked carefully.

 Conclusion should be confined to those justified by the

data of the research and limited to those for which the
data provide an adequate basis.

 Great confidence in research is warranted if the

researcher is experienced, has a good reputation in
research and is a person of integrity.
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Qualities of good research

 Good research is systematic: Research is structured with specified

steps to be taken in specified sequences in accordance with the well-
defined rules.

 Good research is logical: The research is guided by the rules of

logical reasoning and the logical process of induction and deduction
are of great value in carrying out a research.

 Good research is empirical: It implies the research is related to one

or more aspects of a real situation and deal with concrete data that
provides a basis for external validity to research results.

 Good research is replicable: This character allows the result to be

verified by replicating the study and thereby building a sound basis
for decision. 23
 The Scientific Method
• The two terms, research and scientific method, are closely
related.
• Karl Pearson- the man who classifies facts of any kind
whatever, who sees their mutual relation and describes their
sequences, is applying the Scientific Method is a man of
science.
• The ideal of science is to achieve a systematic interrelation of
facts
• Scientific method attempts to achieve “this idea by
experimentation, observation, logical arguments from
accepted postulates and a combination of these three in
varying proportions.”

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Commerce 24
 The scientific method is based on certain
basic postulates which can be stated as
under:
1. It relies on empirical evidence
2. It utilizes relevant concepts
3. It is committed to only objective considerations
4. It presupposes ethical neutrality, i.e., it aims at nothing but
making only adequate and correct statements about
population objects
5. It results into probabilistic predictions
6. Its methodology is made known to all concerned for critical
study are for use in testing the conclusions through replication
7. It aims at formulating most general scientific theories.

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Commerce 25
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