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    160 views14 pages

    Cha Pter 1: Business Research Methods: An Introduction

    Uploaded by

    David Shrsth

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 14

    r 1

    a p te
    C h

    Copyright© Dorling Kindersley India Pvt. Ltd


    Business Research Methods:
    An Introduction

    Business Research Methods: An Introduction 1


    Learning Objectives

    Upon completion of this chapter, you will be able to:

    Copyright© Dorling Kindersley India Pvt. Ltd


    Understand the difference between basic and applied research
    Define business research
    Understand the roadmap to learn business research methods
    Learn how business research methods can be used as a decision
    making tool by the managers
    Understand the business research process
    Get a preliminary idea about the use of software for data
    preparation and data analysis

    Business Research Methods: An Introduction 2


    Introduction

     Business researchers systematically collect, compile, analyze,

    Copyright© Dorling Kindersley India Pvt. Ltd


    and interpret data to provide quality information based on
    which a decision maker will be able to take a decision in an
    optimum manner.
     Conducting research to deal with any problem is a scientific,
    systematic, and interlinked exercise, which requires sound
    experience and knowledge.

    Business Research Methods: An Introduction 3


    Difference Between Basic and
    Applied Research

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     Basic research is generally not related to a specific problem
    and its findings cannot be immediately applied.
     Applied research directly addresses the problem at hand.
    Applied research is launched by the firm, agency, or individual
    facing a specific problem.

    Business Research Methods: An Introduction 4


    Defining Business Research

     Business research method is a systematic and scientific


    procedure of data collection, compilation, analysis,

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    interpretation, and implication pertaining to any business
    problem.
     Business research is defined as the systematic and objective
    process of gathering, recording, and analyzing data for aid in
    making business decisions (Zikmund, 2007).
     Cooper and Schindler (2009) define business research as a
    systematic enquiry that provides information to guide
    managerial decisions.

    Business Research Methods: An Introduction 5


    Roadmap to Learn Business
    Research Methods

    Copyright© Dorling Kindersley India Pvt. Ltd


    Business Research Methods: An Introduction 6
    Business Research Methods:
    A Decision Making Tool in the
    Hands of Management

    Copyright© Dorling Kindersley India Pvt. Ltd


     Decision making is always a crucial part of any organizational
    functioning.
     In the field of business research, this valuable information is
    obtained using the following interrelated steps:
    1. Problem or opportunity identification
    2. Diagnosing the problem or opportunity
    3. Executing business research to explore the solutions
    4. Implement presented solutions
    5. Evaluate the effectiveness of decision making

    Business Research Methods: An Introduction 7


    1. Problem or Opportunity Identification

     Any delay in problem identification and solution implementation;

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    and the opportunity identification and encashment may become
    harmful to the organization.

    Business Research Methods: An Introduction 8


    2. Diagnosing the Problem or Opportunity

     Organizations present these problems or opportunity scenarios

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    to business researchers.
     Business researchers actually diagnose the problem or
    opportunity.
     Diagnosing involves exploring the situation to have a better
    insight about the situation.

    Business Research Methods: An Introduction 9


    3. Executing Business Research to
    Explore the Solution

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     After the identification and diagnosis of the problem, business
    researchers systematically conduct research to present a
    solution.

    Business Research Methods: An Introduction 10


    4. Implement Presented Solution

     Business researchers conduct research in consultation with the

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    decision makers of the concerned organization. The findings are
    presented to the decision maker and he or she analyzes these
    findings in the light of his or her decision range.

    Business Research Methods: An Introduction 11


    5. Evaluate the Effectiveness of
    Decision Making

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     After taking a decision, its effectiveness is examined. This is
    sometimes referred to as evaluation research.

    Business Research Methods: An Introduction 12


    Use of Software in Data
    Preparation and Analysis

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     Nowadays, it is irrational to deal with data preparation and
    analysis without the use of existing statistical software.
     This section focuses on introducing three widely used software
    programs. They are MS Excel (2007), Minitab®, and SPSS (17).

    Business Research Methods: An Introduction 13


    Use of Software in Data
    Preparation and Analysis

    Copyright© Dorling Kindersley India Pvt. Ltd


     ..\Excel 2007.xlsx
     ..\SPPS 17.sav
     ..\Minitab 15.MPJ

    Business Research Methods: An Introduction 14

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