Ch 1-rm-ptva-jan12

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Scope and

Applications ofResearch


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BUSINESS RESEARCH

Research is simply a process of findingsolutions to a problem after a thorough studyand analysis of the situation.

PerceptionsThirst for knowledgeAnalyzing dataScientific research

Analysis and background checkPhd


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Objectives of Research

Logic and reasoning

Solving the problems

Explore the possibility and methodology of doing things Improve the effectiveness of present systems.

Test or challenge existing beliefs.

Analyze past data for discovering trends, patterns and

relationships. Expand the sphere of knowledge


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Motivation for Research

Individuals

Organizations Self motivation

Regulatory

Competition

Customer driven

Failure

Technological Innovations

Environmental considerations Social

Economic

Infrastructure

Operations/ Process Driven


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Research Characteristics

1. Originates with a question or problem.

2. Requires clear articulation of a goal.

3. Follows a specific plan or procedure.4. Often divides main problem into subproblems.

5. Guided by specific problem, question, or hypothesis.

6. Accepts certain critical assumptions.

7. Requires collection and interpretation of data.8. Cyclical (helical) in nature.


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Ideal Research

Scientific and systematic manner

Methodology is transparent.

Credibility of research. Assumptions stated and sources of data

indicated.

Scope and limitations are clearly brought out


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Challenges of Research

Objectives translated into hypothesis.

Relevant literature study.

Hypothesis formulation in line with statedobjectives.

Reliable and adequate data collection

Appropriate sampling design Analyzing using appropriate tools

Unbiased conclusions


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Research Process

1. Specifying area and objective

2. Defining and refining problem

3. Hypothesis development

4. Preparing research design

5. Collecting data6. Analyzing data

7. Interpreting the results


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Research Process

Research is an extremely cyclic process.

Later stages might necessitate a review of earlier

work.

This isnt a weakness of the process but is part

of the built-in error correction machinery.

Because of the cyclic nature of research, it canbe difficult to determine where to start and whento stop.


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Step 1: A Question Is Raised

A question occurs to or is posed to theresearcher for which that researcher has no

answer. This doesnt mean that someone else doesnt already

have an answer.

The question needs to be converted to anappropriate problem statement like thatdocumented in a research proposal.


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Step 2: Suggest Hypotheses

The researcher generates intermediatehypotheses to describe a solution to the

problem. This is at best a temporary solution since there is as

yet no evidence to support either the acceptance orrejection of these hypotheses.


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Step 3: Literature Review

The available literature is reviewed to determineif there is already a solution to the problem.

Existing solutions do not always explain newobservations.

The existing solution might require some revision oreven be discarded.


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Step 4: Literature Evaluation

Its possible that the literature review has yielded

a solution to the proposed problem.

This means that you havent really done research.

On the other hand, if the literature review turnsup nothing, then additional research activitiesare justified.


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Step 5: Acquire Data

The researcher now begins to gather datarelating to the research problem.

The means of data acquisition will often changebased on the type of the research problem.

This might entail only data gathering, but it could alsorequire the creation of new measurement

instruments.


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Step 6: Data Analysis

The data that were gathered in the previous stepare analyzed as a first step in ascertaining their

meaning. As before, the analysis of the data does not

constitute research.

This is basic number crunching.


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Step 7: Data Interpretation

The researcher interprets the newly analyzeddata and suggests a conclusion.

This can be difficult. Keep in mind that data analysis that suggests a

correlation between two variables cant automatically

be interpreted as suggesting causality between those

variables.


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Step 8: Hypothesis Support

The data will either support the hypotheses orthey wont.

This may lead the researcher to cycle back to anearlier step in the process and begin again with a newhypothesis.

This is one of the self-correcting mechanisms

associated with the scientific method.


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Common Methodologies

Methodologies are high-level approaches toconducting research.

The individual steps within the methodology mightvary based on the research being performed.

Two commonly used research methodologies:

Quantitative.

Qualitative.


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Methodology Comparison

Quantitative

Explanation, prediction

Test theories Known variables

Large sample

Standardized instruments

Deductive

Qualitative

Explanation, description

Build theories Unknown variables

Small sample

Observations, interviews

Inductive


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Types of Research

Basic, Pure ,Conceptual and Fundamental

Applied

Empirical

Historical Scientific

Social and Behavioral

Business

Exploratory Descriptive

Causal

Normative


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Basic research

Attempts to expand the limits ofknowledge.

Not directly involved in the solution to apragmatic problem.


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BASIC RESEARCH EXAMPLE

Is executive success correlated with highneed for achievement?

Are members of highly cohesive workgroups more satisfied than members ofless cohesive work groups?

Do consumers experience cognitivedissonance in low-involvement situations?


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APPLIED RESEARCH

CONDUCTED WHEN A DECISION MUST

BE MADE ABOUT A SPECIFIC REAL-LIFE PROBLEM


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APPLIED RESEARCH EXAMPLE

Should McDonalds add Italian pasta

dinners to its menu?

Business research told McDonalds itshould not.


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SCIENTIFIC METHOD

The analysis and interpretation ofempirical evidence (facts from observation

or experimentation) to confirm or disproveprior conceptions.


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The decision-making process associatedwith the development and

implementation of a strategy

Identifying problems and opportunities

Diagnosis and Assessment

Selecting and implementing a course ofaction

Evaluating the course of action


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Evaluation research

Evaluation research is the formal,

objective measurement and appraisal ofthe extent to which a given activity,project, or program has achieved its

objectives.


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Performance-monitoring Research

Research that regularly provides feedbackfor evaluation and control

Indicates things are or are not going asplanned

Research may be required to explain why

something went wrong


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Determining When to ConductBusiness Research

Is sufficient time

available before

a managerial

decision

must be made?

Is the infor-

mation already

on hand

inadequate

for makingthe decision?

Is the decision

of considerable

strategic

or tactical

importance?

Does the value

of the research

information

exceed the cost

of conductingresearch?

Conducting

Business

Research

Do Not Conduct Business Research

Time ConstraintsAvailability of Data

Nature of the DecisionBenefitsvs. Costs

Yes YesYesYes

No No No No


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Potential value of a business research effortshould exceed its estimated costs

Value

Decreased CertaintyIncreased Likelihood

of a Correct DecisionImproved MarketingPerformance andResulting HigherProfits

Costs

ResearchExpendituresDelay of Marketing

Decision andPossible Disclosureof Information toRivalsPossible ErroneousResearch Results

Documents

Ch 1-rm-ptva-jan12