brm lecture 1-2

8/3/2019 BRM Lecture 1-2

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Business Research

Methods

Business Research Methods1Page 1


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BRM - Assessment

Assessment will be a continual activity.

C1: 1-10th session

C2: 11-20th session

C3: 21-30th sessionMode of assessment

Quiz (oral / written)

Assignments

Case Study



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BRM - Assessment

Students will be selected (random / non-

random method) for quiz / case discussion ondaily basis.

A student selected in random draw, if absent,

will get zero.

Average of all scores of a student within 1-10th

session will be reported as C1 score. C2, C3

also will be done in similar way.



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BRM - Assessment

A student not getting selected even once up to

8th session will be allotted an assignment to becompleted by 10th session (for C1).

Similar method will be followed for C2 and C3.



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BRM - Assessment

Come in time. Dont knock the door if it is

closed.Penalty (for C1 / C2 / C3)

1 marks will be deducted (each time) if a

student is found to help another student during

assessment quiz / case discussion.

1 marks will be deducted (each time) if a

student comes late and knocks the door.



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Business Research

MethodsIntroduction

6Page 6 Business Research Methods


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Business Research

Business Research may be defined as

Systematic & Objective Process of Gathering,Recording and Analyzing data for aid in making

business decisions.

Systematicness and Objectivity are

distinguishing features of Business Research.

It involves planning, collection of information,

analysis and interpretation of results to answer

the required question.



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Management Dilemma

Usually a Business Research Process is

triggered by some concern of themanagement. Management gets interested in

exploring a problem situation. Management

thinks it is worth exploring.However, not all problem / concerns are

candidates for Business Research.



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When is Business Research Used?

Business research methods are used in

situations of uncertaintyWhen decision makers face two or more

possible action and want to select the best

alternative.

Hence objective of Business Research is to

improve the quality of decision-making, which,

in turn, benefits the organization and helpsensure its efficiency.



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When is Business Research Used?


Decision-MakingSituation

TotalCertainty

TotalUncertainty

Value of Research


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When Should Business Research be Undertaken


Is sufficient time

available?

Is informationinadequate?

High importanceof decision?

Research benefitsgreater than costs?

Yes

Yes

Yes

Undertake BusinessResearch

NO Do not undertakeBusiness Research

Yes


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Examples

A firm wants to produce a new product but first wants

to ascertain if there is a potential demand for theproduct.

A multinational firm wants to establish a production

facility in another country after determining its

technical and economic feasibility.

A company wants to ascertain the satisfaction level of

its employees, the causes for any possible discontent,

and take corrective action.



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Common Business Research Tools

Surveys

Interviews

Observation

ExperimentsAnalysis

Qualitative

Quantitative



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Relevance & Significance

Stay competitive / Business Growth.

Identify customer requirements.

Evaluate performance.

Identify factors influencing performance of

product / people.

Identify causes for an effect.

Identify new opportunities.



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Types of Research

Exploratory / Formulative.

Descriptive.

Causal / Explanatory.



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Exploratory Research

Exploratory research is an initial research,

done to gain better understanding of aproblem.

Undertaken with the aim of clarifying /

narrowing down the problem.



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The purpose is to get more information.

Determining a specific action is not a purposeof exploratory research.

As Exploratory study is done at the initial

stage, usually secondary data are used.



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Gathering information

Literature Study, search from internet

Information from experts

Focus group interview

Pilot studies


Secondarydata

& S


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Primary & Secondary data

Primary data

Primary data are those that are generatedspecifically for a work.

A soap manufacturer wants to find out which brand of

soaps are used by households in a city.

Secondary data

These are data already available, generated

for some other purpose. Use census data to find out purchasing power of

households in a city.


P i d t


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Primary data

Advantage

It allows us to decide methodof data collection that is best

suited to answer the specific

issues.

Have full control on collectingunbiased data.

Disadvantage

Requires lot of time, effortand money.

Fast decision can not be

taken.

Analysis from raw data

takes longer time.


S d d t


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Secondary data

Advantage

It is economical, It savesefforts, time and money.

It helps understand the

problem better.

It helps identify what

additional data need to be

collected as primary data.

It provides a basis forcomparison of the past work.

Disadvantage

It often does not fit therequirement. You may get

only a few required items

after a long search.

Definition of units, sample,time period may be totally

different.

Accuracy of secondary data

is unknown.


Lit t R i


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Literature Review

A literature review aims to review the critical

points of current knowledge, findings andcontributions to a topic of interest.

Literature reviews are secondary sources.


Pil t St d
http://en.wikipedia.org/wiki/Secondary_sourceshttp://en.wikipedia.org/wiki/Secondary_sources


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Pilot Study

Pilot study is done prior to a full scale study. It

is done with a smaller segment of thepopulation.

Pilot study helps in designing the actual study

in a better way and avoid possible difficulties.


F i t i


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Focus group is a group of people (


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Developed in the 1940s by marketing

researchers for getting information onconsumers feelings about products.

Since 1970s, focus groups are used across

different disciplines.

Can be useful in learning about experiences of

marginalized groups.

Provides forum for expression of interest.


F i t i


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In focus groups interview it is possible to

examine participants perceptions(standpoints), motives (strategies), and

experiences (stories).


D i ti R h


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Descriptive Research

Descriptive research (also called statistical research)describes data and characteristics about the population or phenomenon

being studied.

Choice of cell phone features in different age group.

Descriptive research answers specific research questions.


C l R h


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Causal Research

Undertaken with the aim of identifying cause

and effect relationships amongst variables.Normally preceeded by exploratory and

descriptive research studies.

Often difficult because of the influence of many

factors present and requires higher order

statistical tools (Discriminant analysis / Factor

analysis / Cluster analysis etc).


Ethi i R h


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Ethics in Research


Subjects /

Respondants

Researcher

Clients /

Sponsor

Ethi l B h i


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Ethical Behaviour

Subjects

If agreed to participate in a research study,give true information.

State any constraints or limitations in advance.

Cooperate with the researcher throughout the

course of the study.


Ethical Behaviour


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Ethical Behaviour

Researcher

Do not conceal purpose of the research.

Maintain objectivity, courtesy and high

professional standards.

No alteration of data for any purposes.

Protect confidentiality of the research subjects

and research sponsors.No faulty conclusions.


Ethical Behaviour


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Ethical Behaviour

Sponsor / Client

Avoid manipulating and influencing theresearcher.

The conclusions drawn from research work

should be consistent with the data and notinfluenced by any other factors.

Observe the confidentiality of the research

subjects and researcher.


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