The document provides an introduction to business research. It defines business research as the application of the scientific method to search for truths about business phenomena. It discusses different types of business research and the scientific method. The scientific method relies on empirical evidence and aims to make objective statements. It also outlines the research process, which is cyclical, and factors to consider when deciding to conduct business research, such as costs and benefits. Good research is clearly defined and permits replication.
The document provides an introduction to business research. It defines business research as the application of the scientific method to search for truths about business phenomena. It discusses different types of business research and the scientific method. The scientific method relies on empirical evidence and aims to make objective statements. It also outlines the research process, which is cyclical, and factors to consider when deciding to conduct business research, such as costs and benefits. Good research is clearly defined and permits replication.
The document provides an introduction to business research. It defines business research as the application of the scientific method to search for truths about business phenomena. It discusses different types of business research and the scientific method. The scientific method relies on empirical evidence and aims to make objective statements. It also outlines the research process, which is cyclical, and factors to consider when deciding to conduct business research, such as costs and benefits. Good research is clearly defined and permits replication.
Research Methods Chapter 01: Introduction to Business Research Business Research Defined
Research: Research is an organized, systematic, data
based scientific enquiry or investigation into a specific problem, undertaken with the objective of finding answer or solutions to it. The main objective of research is to find out the truth which unknown/hidden and which has not been discovered yet.
Business research: The application of the scientific
method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating ideas, monitoring performance, and understanding the business process. Business Research Types
Descriptive vs. Analytical
Applied vs. Fundamental/Basic
Quantitative vs. Qualitative
Conceptual vs. Empirical
Exploratory vs. Casual
Scientific Method
The scientific method is the way researchers go
about using knowledge and evidence to reach objective conclusions about the real world. Basic Postulate/conditions of Scientific Method
It relies on empirical evidence;
It utilizes relevant concepts; It is committed to only objective considerations; It presupposes ethical neutrality, i.e., it aims at nothing but making only adequate and correct statements about population objects; It results into probabilistic predictions; Its methodology is made known to all concerned for critical scrutiny are for use in testing the conclusions through replication; It aims at formulating most general axioms or what can be termed as scientific theories. Characteristics of Scientific Method
1. Accurate classification of facts
2. Observation of the relation between facts and their sequence 3. Self-criticism and cross-examination 4. Discovery of scientific laws by the aid of creative imagination Research Process Is Cyclical
1. Research begins with a problem: an unanswered question in the
mind of the researcher. 2. Research sees the goal in a clear statement of the problem. 3. Research subdivides the problems into appropriate sub-problems. Each sub-problem seeks guidance through an appropriate hypothesis. 4. Research posits tentative solution to the problem through appropriate hypothesis. 5. Research looks for facts directed by the hypotheses and guided by the problem. 6. Research interprets the meaning of the facts which leads to a resolution of the problem, thus confirming or rejecting the hypotheses and providing an answer to the question which began the research cycle. Research Process Is Cyclical Determining When to Conduct Business Research (Determinant of Business Research) Time constraints Availability of data Nature of the decision Benefits versus costs Value versus Costs
Potential Value of a Business Research Effort Should
Exceed Its Estimated Costs Cross-functional Teams
Cross-functional teams are composed of
individuals from various organizational departments such as engineering, production, finance, and marketing who share a common purpose. Criteria of Good Research
1. The purpose of the research should be clearly defined and common
concepts be used. 2. The research procedure used should be described in sufficient detail to permit another researcher to repeat the research for further advancement, keeping the continuity of what has already been attained. 3. The researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings. 4. The design of the research should be carefully planned to yield results that are as objective as possible. 5. Data should be sufficiently adequate. 6. Conclusion should be confined.