8/2/2019 Ch 1-rm-ptva-jan12
1/30
Scope and
Applications ofResearch
8/2/2019 Ch 1-rm-ptva-jan12
2/30
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
8/2/2019 Ch 1-rm-ptva-jan12
3/30
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
8/2/2019 Ch 1-rm-ptva-jan12
4/30
Motivation for Research
Individuals
Organizations Self motivation
Regulatory
Competition
Customer driven
Failure
Technological Innovations
Environmental considerations Social
Economic
Infrastructure
Operations/ Process Driven
8/2/2019 Ch 1-rm-ptva-jan12
5/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
6/30
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
8/2/2019 Ch 1-rm-ptva-jan12
7/30
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
8/2/2019 Ch 1-rm-ptva-jan12
8/30
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
8/2/2019 Ch 1-rm-ptva-jan12
9/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
10/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
11/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
12/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
13/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
14/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
15/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
16/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
17/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
18/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
19/30
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
8/2/2019 Ch 1-rm-ptva-jan12
20/30
Types of Research
Basic, Pure ,Conceptual and Fundamental
Applied
Empirical
Historical Scientific
Social and Behavioral
Business
Exploratory Descriptive
Causal
Normative
8/2/2019 Ch 1-rm-ptva-jan12
21/30
Basic research
Attempts to expand the limits ofknowledge.
Not directly involved in the solution to apragmatic problem.
8/2/2019 Ch 1-rm-ptva-jan12
22/30
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?
8/2/2019 Ch 1-rm-ptva-jan12
23/30
APPLIED RESEARCH
CONDUCTED WHEN A DECISION MUST
BE MADE ABOUT A SPECIFIC REAL-LIFE PROBLEM
8/2/2019 Ch 1-rm-ptva-jan12
24/30
APPLIED RESEARCH EXAMPLE
Should McDonalds add Italian pasta
dinners to its menu?
Business research told McDonalds itshould not.
8/2/2019 Ch 1-rm-ptva-jan12
25/30
SCIENTIFIC METHOD
The analysis and interpretation ofempirical evidence (facts from observation
or experimentation) to confirm or disproveprior conceptions.
8/2/2019 Ch 1-rm-ptva-jan12
26/30
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
8/2/2019 Ch 1-rm-ptva-jan12
27/30
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.
8/2/2019 Ch 1-rm-ptva-jan12
28/30
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
8/2/2019 Ch 1-rm-ptva-jan12
29/30
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
8/2/2019 Ch 1-rm-ptva-jan12
30/30
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
Recommended