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1. Introduction to Business Research

Ms Swapna Tamhankar

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Introduction to BusinessResearch

Business research is defned as thesystematic and objective process oeneratin inormation or aid inmakin business decisions.

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Business Research

Research inormation is neitherintuitive nor hapha!ard"y athered.

#itera""y$ research %re&search'&(search aain)

Business research must be objective

*etached and impersona" rather thanbiased

It aci"itates the manaeria" decisionprocess or a"" aspects o a business.

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Business Research Types

Fundamental research / Applied research

Quantitative / Qualitative

Primary / Secondary

Exploratory / Descriptive / Causal

Longitudinal / Cross Sectional

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+undamenta" Research

,ttempts to e-pand the "imits oknow"ede.

ot direct"y invo"ved in the so"utionto a pramatic prob"em.

/-amp"es Bi 0 Mode"

Mas"ows eed theory

2&32 Ru"e

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4The secret o success is to knowsomethin nobody e"se knows. 4

,ristot"e 5nassis

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,pp"ied Research

6onducted when a decision must bemade about a specifc rea"&"ieprob"em

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,pp"ied Research /-amp"es

Shou"d Mc*ona"ds India add VadaPav to its menu7

Shou"d e&rocers "ike "oca"banya careor deep discount o8ers "ike theirsmart grocery plans7

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The *ecision&makin 9rocess ,ssociated with the

*eve"opment and Imp"ementation o a Stratey

Identiyin prob"ems andopportunities

*ianosis and assessment

Se"ectin and imp"ementin a courseo action

/va"uatin the course o action

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*eterminin :hen to 6onductBusiness Research

Time constraints

,vai"abi"ity o data

ature o the decision Benefts versus costs

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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 ConstraintsData

Availability Nature of the DecisionBenefits vs.

Costs

Yes YesYesYes

No No No No

*eterminin :hen to 6onductBusiness Research

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Exploratory / Descriptive /

Causal

/-p"oratory

*escriptive 6ausa"

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COM!"T"!Y

C"RTA#N

AB$O!%T"

AMB#&%#TY

CA%$A! OR

D"$CR#T#'"

"(!ORATORY

;ncertainty In

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1=

/-p"oratory Research

Secondary data

/-perience survey

9i"ot studies

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/-p"oratory Research

Initia" research conducted to c"ariyand defne the nature o a prob"em

*oes not provide conc"usiveevidence

Subse>uent research e-pected

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*escriptive Research

*escribes characteristics o apopu"ation or phenomenon

Some understandin o the nature othe prob"em

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I keep si- honest servin men$ %theytauht me a"" I knew'$ their names are

&&Rudyard ?ip"in

what$ and why$ andwhen$

andhow$and where and

who.)

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*escriptive Research/-amp"e

The number o smartphone users who useshoppin apps has jumped to 0=@ in May10$ rom just 31@ a year back.

The averae Indian spends around twohours and =0 minutes per day on theirsmartphone.

,round the wor"d$ more than si-&in&12respondents %A@' say they "ike when

manuacturers o8er new products.

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6ausa" Research

6onducted to identiy cause ande8ect re"ationships

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Identiyin 6ausa"ity

, causa" re"ationship is impossib"e toprove.

/vidence o causa"ityC 1. The appropriate causa" order o

events

3. Simu"taneous variation&&two

phenomena vary toether . ,n absence o a"ternative p"ausib"e

e-p"anations

6" i h "" i h

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6"assiy the o""owin researchobjectives as causal descriptive

and exploratory1. To fnd out the various reasons orincreasin absenteeism rates in theorani!ation

3. To describe the demoraphic traits othe customers usinpeppertap

. To fure out i peop"e be interested in

the new product o8erins=. To compare the savins and "oans rate

o ma"aysia$ indonesia and china

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0.To compare the e8ectiveness o the twotrainin prorams

A. To predict the va"ue o re"iance industries

stock price usin the dividends anddividend rowth rates

D.To study the impact o "ast years productreca"" on the companyEs stock price

.To ascertain i the customers wi"" buymore o our product in the new packae