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R E F E R E N C E C H A P T E R S : C H A P T E R 1 ( Z I K M U N D ) C H A P T E R 1 ( S A K E R A N )
LECTURE 1:
THE ROLE OF BUSINESS RESEARCH
RESEARCH METHODS
WHAT IS RESEARCH ?
• RESEARCH is an organized, systematic, data based, critical,
objective, scientific enquiry or investigation into a specific
problem undertaken with the purpose of finding answers or
solutions.
• Planned - Systematic - Reliable.
• Begins with: a doubt, question, inquiry
• Asking Questions - Use of methods to develop answers. • Questions • Research Methods • Analysis.
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Wish to research
Formulate and clarify your Research topic
Critically review the literature
Choose your research approach and strategy
Negotiate access and address ethical issues
Plan your data collection and collect the data using one or more of :
Sampling Secondary data Observation Semi-structured and in-depth interviews Questionnaires
Analyse your data using one or both of:
Write your project report
Submit your report
Quantitative methods Qualitative methods
THE RESEARCH PROCESS
SOME COMMONLY RESEARCHED TOPICS
• Employee behavior ( performance, absenteeism,
turnover)
• Brand loyalty, product lifecycle and product innovation
• Operations Management/ Productivity
• Consumers Behavior/ Choices
• Company Shares/ Event Study/ M&A
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Business research is defined as the systematic and objective process of generating information for aid in making business decisions.
BUSINESS RESEARCH DEFINED
IMPORTANCE OF RESEARCH & RESEARCH METHODOLOGY FOR STUDENTS OF BUSINESS
• Obtaining information about relevant
phenomenon objectively.
• Testing existing hypothesis and theories.
• Filling in gaps in existing theories.
• Understanding professional literature.
• Problem solving and decision making.
• Critical thinking: fundamental basis of research
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INFORMATION REDUCES
UNCERTAINTY
I don’t know if we
should offer on-site child care?
Basic research
Applied research
BUSINESS RESEARCH TYPES
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BASIC RESEARCH
• Attempts to expand the limits of knowledge. • Not directly involved in the solution to a pragmatic
problem. • Academic research • Theory building • Industry related/ generalized
BASIC RESEARCH EXAMPLE
• Is executive success correlated with high need for achievement?
• Are members of highly cohesive work groups more satisfied than members of less cohesive work groups?
• Do consumers experience cognitive dissonance in low-involvement situations?
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APPLIED RESEARCH
• Conducted when a decision must be made about a specific real-life problem
• Business Research • Organization related • Problem solving
APPLIED RESEARCH EXAMPLES
• Should McDonalds add Italian pasta dinners to its menu? • Business research told McDonald’s it should not
• Should Procter & Gamble add a high-priced home teeth bleaching kit to its product line? • Research showed Crest Whitestrips would sell well at a retail
price of $44
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CLASS EXERCISE: CASE
Right from her days as a clerical employee in a bank, Sandra had observed that her colleagues, though extremely knowledgeable about the nuances and intricacies of banking, were exerting very little effort to improve the efficiency and effectiveness of the bank in the area of customer relations and service. They took on minimum amount of work load and availed long tea and lunch breaks and seemed not to be motivated. She thought what a waste of talented people to goof around and not to contribute to the GNP. When she left the bank to do her Ph.D the topic for dissertation was Job involvement or the ego investment of people in their jobs. The conclusion of her investigation was that the most important contributory factor to job involvement is the fit or match between the nature of the job and personality predisposition of the people engaged in performing in it.
CONT..
A university professor wanted to analyse in depth the reasons for absenteeism of employees in organizations. Fortunately, a company within 20 miles of the campus employed her as a consultant to study that very issue.
A research scientist surveys 1,000 employees in different organizational settings to study the effectiveness of several types of nasal sprays in controlling the flu virus. He subsequently publishes his findings in a highly respected medical journal.
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DETERMINING WHEN TO CONDUCT BUSINESS RESEARCH
• Time constraints • Availability of data • Nature of the decision • Benefits versus costs
Is sufficient time available before
a managerial decision
must be made?
Is the infor- mation already
on hand inadequate for making
the decision?
Is the decision of considerable
strategic or tactical
importance?
Does the value of the research
information exceed the cost of conducting
research?
Conducting Business Research
Do Not Conduct Business Research
Time Constraints Availability of Data
Nature of the Decision Benefits vs. Costs
Yes Yes Yes Yes
No No No No
DETERMINING WHEN TO CONDUCT BUSINESS RESEARCH
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HOW CAN WE USE RESEARCH
• Knowledge of us and the world around us. • Governments - Political / Social policy. • Political issues / influence ideas. • Business and Finance rely on and fund research. • Social movements.
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
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WHY MANAGERS SHOULD KNOW
ABOUT RESEARCH?
• Detached and impersonal rather than biased • It facilitates the managerial decision process for all
aspects of a business. • Know how to discriminate good from bad research. • Take intelligent, calculated risks in decision making. • Prevent possible vested interests from exercising
their influence in a situation. • Relate to hired researchers more effectively (Mutual
Understanding). • Combine experience with scientific knowledge
while making decisions.
IN THE NEXT CLASS…
• Dissertation • E-Search • Academic Journal • Reading an Article • Assignment
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RESEARCH PROJECT
DISSERTATION
• A Research Proposal: • A document that defines what the project is
about, why it is important and how it is to be carried out
• A Research Project: • All the activities that go towards completing the
dissertation
• A Thesis: • An argument or proposition supported by
evidence or literature
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THE ADVANTAGE OF A DISSERTATION
• To give you an opportunity to:
• To enlarge your knowledge • To specialize in certain area of study • To improve of your critical thinking that is necessary to
possess nowadays • To plan, research, and write up a project that
improves understanding of a significant issue, and that may provide recommendations or findings on which action can be determined;
• To provide a platform for personal and academic development via the production of a unique piece of academic work.
• Chance to get your BBA Degree
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THE OBJECTIVE OF A DISSERTATION
• To learn how to undertake a major project that requires you to : • Be focused on a complex and important issue; • Undertake effective and competent primary
research; • Integrate theory and practice; • Incorporate understanding from a critical
review of the literature; • Base your dissertation on sound analysis and
arguments;
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AFTER THE DESSERTATION
• Consultancy • Research Analyst • Management Training • Business/Market Analyst • Project Management
• Publishing your thesis *
• Franklincovey.com
THE PROCESS OF DOING A DISSERTATION
q Phase 1: Getting Started q Phase 2: Writing a Critical Literature review q Phase 3: Devising Research Questions q Phase 4: Research Process q Phase 5: Writing it up. Note: it is possible to loop back at various
stages.
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THE PROCESS OF DOING A DISSERTATION
• Phase 1: Getting Started • Choosing a topic; drafting objectives
• Phase 2: Writing a critical literature review • Locating, reading, material from academic articles, books
and conference papers. Summarising and evaluating the literature.
• Identifying key concepts drafting conceptual frameworks, theorising the material.
• Phase 3: Devising Research Questions • Being clear about the questions you want answered
• Phase 4: Research Process • Choosing methods, collecting and analysing data
• Phase 5: Writing it up. • Interpreting material and drawing conclusions • Arguing a thesis, structuring the dissertation.
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