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Chapter 1
Nature & Scope of Business Research
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WHAT IS RESEARCH?
Research is the processof finding solutions to a
problem after thoroughstudy and analysis of
situational factors. Uma Sekaran
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Business Research Defined
The systematic & objective processof gathering, recording,
and
analyzing data for aid in making
business decisions. William G Zikmund
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Why Study Research?
Research provides you with theknowledge and skills needed
for
the fast-paced decision-making
environmentData leads to
Information leads to
Knowledge
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WhenisBusiness Research
needed?
A manager faced with two or more possiblecourses of action faces
the initial decision of
whether or not research should be conducted.
The determination of the need for researchcenters on: Time
Constraints Availability of Data Nature of the Decision
Benefits vs. Costs
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DETERMINING WHEN BUSINESS
RESEARCH SHOULD BE CONDUCTED
Is sufficient time
available before a
managerialdecision must be
made?
Is the information
already on hand
inadequate formaking the
decision?
Is the decision
of considerable
strategic ortactical
importance?
Does the value
of research
informationexceed the cost
of conducting
research?
Business Research should not be conducted
No No No No
Time Constraints Benefits vs CostsNature of the
DecisionAvailability of Data
Yes
Conduct
Business
Research
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Characteristics of Research
Controlled
Rigorous
Systematic
Valid &verifiable
Empirical
Critical
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Implications ofBusiness Research
Research information is neitherintuitive nor haphazardly
gathered.
If the information gathered or data
collected and analyzed are to beaccurate, the business
researcher must
be objective.
The objective of business research is to
facilitate the managerial decision-making process for all
aspects of a
business.
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Some commonly researched areasin
business
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Employee behaviors such as performances, absenteeism, and
turnover Employee attitudes such as job satisfaction, loyalty and
organizational commitment. Employee selection, recruitment,
training and retention. Validation of performance appraisal
systems. HRM choices & organizational strategy
Strategy formulation and implementation Organizational outcomes
such as increased sales, market share, profits, growth
andeffectiveness
Distribution channels, advertising effectiveness Brand loyalty,
PLC & NPD
Consumer complaints
Location analysis Market testing Portfolio management Risk
assessment Auditing practices
Employee behaviors such as performances, absenteeism, and
turnover Employee attitudes such as job satisfaction, loyalty and
organizational commitment. Employee selection, recruitment,
training and retention. Validation of performance appraisal
systems. HRM choices & organizational strategy
Strategy formulation and implementation Organizational outcomes
such as increased sales, market share, profits, growth
andeffectiveness
Distribution channels, advertising effectiveness Brand loyalty,
PLC & NPD
Consumer complaints
Location analysis Market testing Portfolio management Risk
assessment Auditing practices
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The Applications ofBusiness
Research
F
rom the viewpoint of: The Service Provider
To answer such questions as:
How many people are using the
product or service?
Why do some people sue the service/product while others do
not?
How effective is the service/ product?
How can the service/ product be
improved?
Which type of people use or do notuse the service/ product?
How satisfied or dissatisfied are the
consumers of the service/ product?
What are the problems with service/
product?
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The Applications ofBusiness
Research
F
rom the viewpoint of: The Administrator, manager or planner
To answer such questions as: What are the needs of the
community?
What types of service/ product are
needed by the community?How many service providers are
needed?
What are the training needs of the
staff?
How many cases can a workerhandle in a day?
How can the effectiveness of each
worker be evaluated?
How can the service/ product be
made popular?
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