Why Study Research

8/14/2019 Why Study Research

1/25

02/11/10 1

WHY STUDY RESEARCHProvides you with the

knowledge and skills youneed to solve the problemsand meet the challenges of

a fast-paced decision-making environment.


2/25

02/11/10 2

Definition

We define business researchas a systematic inquiry whoseobjective is to provideinformation to solve managerial

problems .


3/25

02/11/10 3

Factors in Scientific DecisionMaking

The managers increased need for moreand better information.

The availability of improved techniquesand tools to meet this need.

The resulting information overload if discipline is not employed in the process.


4/25

02/11/10 4

New Roles of Business

Historically -economic role

Response to the social and political mandates of national public policy

Explosive technology growth

Continuing innovations in globalcommunications.


5/25

02/11/10 5

Other Issues

Other knowledge demands have arisen from Problems with mergers

Trade policies Protected markets Technology transfers

Macroeconomic savings-investment


6/25

02/11/10 6

Need For Better Information

More variables to consider in everydecision.

More knowledge exists in every field of management.

Global and domestic competition is morevigorous

The quality of theories and models toexplain tactical and strategic results isimproving.


7/25

02/11/10 7

Need for Information Workers, shareholders, customers and the general

public are demanding to be included in companydecision making; they are better informed and moresensitive to their own self-interest than ever before.

Organisations are increasingly practicing datamining, learning to extract meaningful knowledgefrom volumes of data contained within internaldatabases.

Computer advances have allowed businesses tocreate the architecture for data warehousing,electronic storehouses where vast arrays of collected, integrated data are ready for mining


8/25

02/11/10 8

Need for Information The power and ease of use of todays computers

have given us the capability to analyze data todeal with todays complex managerial problems.

Techniques of quantitative analysis takeadvantage of increasingly powerful computingcapabilities.

The number and power of the tools used toconduct research have increased,

commensurate with the growing complexity of business decisions. Communication and measurement techniques

within research have been enhanced.


9/25

02/11/10 9

Essence of Research

Try answering these questions:

(1) What is the decision-making dilemma facingthe manager?

(2) What must the researcher accomplish?

Defining the dilemma is paramount and difficult.


10/25

02/11/10 10

Types of Study

The different types of study can beclassified as

Reporting Descriptive

Explanatory Predictive.


11/25


12/25

02/11/10 12

A descriptive study tries to discover answers to the questions who, what,when, where, and, sometimes, how.

Involves the collection of data and thecreating of a distribution of the number of times the researcher observes a singleevent or characteristic (known as aresearch variable).


13/25

02/11/10 13

Organisations and DescriptiveStudies

Organisations might have enough

data base but not mine them for

decision - making


14/25

02/11/10 14

Explanatory Study

An explanatory study goes beyond descriptionand attempts to explain the reasons for thephenomenon that the descriptive study onlyobserved.

Research that studies the relationship betweentwo or more variables is also referred to as a corelational study

Uses theories or at least hypotheses to accountfor the forces that caused a certain phenomenonto occur


15/25

02/11/10 15

Predictive Studies

Predict when and in what situations the eventwill occur.

In business research, prediction is found instudies conducted to evaluate specificcourses of action or to forecast current

and future values. Able to control a phenomenon once we can

explain and predict it.


16/25

02/11/10 16

Pure Research and AppliedResearch

Applied research has a practical problem-solving emphasis

Rectifying an inventory system that isresulting in lost sales

An opportunity to increase stockholder wealth through acquiring another firm.

Pure Research does not offer immediatesolutions


17/25

02/11/10 17

Definition of Scientific ResearchScientific research isa systematic, controlled, empirical, and

critical investigation of natural phenomena

guided by theory and hypotheses about the

presumed relations among such

phenomena


18/25

02/11/10 18

What is Good Research?

Good research generatesdependable data, that can beused reliably for managerialdecision making.


19/25

02/11/10 19

Characteristics of Good Research

Purpose clearly defined

Research process detailed

Research design thoroughly planned


20/25

02/11/10 20

Characteristics of Good Research

High ethical standards applied

Limitations frankly revealed

Findings presented unambiguously

Conclusions justified

Researchers experience reflected


21/25

02/11/10 21

Advantages of Research Skills

Manager as research-based decisionmaker- intuitive judgement is less reliable

Subordinate employee as researcher- can

be a career boosting activity.


22/25

02/11/10 22

Manager as research services buyer or evaluator- evaluate research proposalssane orgn of time and money.

Manager as evaluator of secondary datasources.

Research specialist-financial analysis,

marketing research, operations research,public relations and human resourcesmanagement.


23/25

02/11/10 23

Scientific Research

Direct observation of phenomena. Clearly defined variables, methods and

procedures. Empirically testable hypotheses. The ability to rule out rival hypotheses.

Statistical rather than linguistic justificationof conclusions. The self-correcting process.


24/25

02/11/10 24

Deduction

Deduction is a form of inference that purports tobe conclusive

the conclusion must necessarily follow from the

reasons given. For a deduction to be correct, it must be bothtrue and valid:

Premises (reasons) given for the conclusion

must agree with the real world (true). The conclusion must necessarily follow from the

premises (valid).


25/25

02/11/10 25

Induction

To induce is to draw a conclusion fromone or more particular facts or pieces of evidence.

The conclusion explains the facts, and thefacts support the conclusion

Documents

Why Study Research