1-1McGraw-Hill/Irwin © 2003 The McGraw-Hill Companies, Inc.,All Rights Reserved.

MODULE 1INTRODUCTION TO

BUSINESS RESEARCH

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What is Business Research?

• A systematic and scientific Inquiry whose objective is to provide information to solve managerial problems.

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Why Study Research?

• Research provides you with the knowledge and skills needed for the fast-paced decision-making environment

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Why Managers need Better Information

• Global and domestic competition is more vigorous

• Organizations are increasingly practicing data mining and data warehousing

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The Value of Acquiring Research Skills

• To gather more information before selecting a course of action

• To do a high-level research study • To understand research design

• To evaluate and resolve a current management dilemma

• To establish a career as a research specialist

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Types of Studies Used to do Research

•Reporting•Descriptive•Explanatory•Predictive

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Different Styles of Research

• Descriptive Vs Analytical

• Applied Vs Fundamental• Quantitative Vs Qualitative

• Conceptual Vs Empirical

• Orther types:– One-time and longitudinal

– Field-setting and laboratory or simulation – Clinical and diagnostic– Historical– Conclusion oriented and decision oriented

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What is Good Research?

• Following the standards of the scientific method

– Purpose clearly defined– Research process detailed

– Research design thoroughly planned

– Limitations frankly revealed

– High ethical standards applied

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What is Good Research? (cont.)

• Following the standards of the scientific method (cont.)

– Adequate analysis for decision-maker’s needs

– Findings presented unambiguously

– Conclusions justified

– Researcher’s experience reflected

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The Manager-Researcher Relationship

• Manager’s obligations– Specify problems– Provide adequate background information

– Access to company information gatekeepers

• Researcher’s obligations– Develop a creative research design

– Provide answers to important business questions

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Manager-Researcher Conflicts

• Management’s limited exposure to research

• Manager sees researcher as threat to personal status

• Researcher has to consider corporate culture and political situations

• Researcher’s isolation from managers

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When Research Should be Avoided

• When information cannot be applied to a critical managerial decision

• When managerial decision involves little risk

• When management has insufficient resources to conduct a study

• When the cost of the study outweighs the level of risk of the decision