RESEARCH METHODOLGY IN BUSINESS

INTRODUCTION
What is Business Research? It is a systematic inquiry that provides information to
guide managerial decisions. It is a process of planning, acquiring, analyzing and
disseminating relevant data and information and insights to decision makers in
ways that mobilize the organization to take appropriate actions that, in turn,
maximize business performance.
INTRODUCTION
Planning Drives Business Research • Goals: Decision on goals • Decision Support
System: Need to complete one or many exchanges (numerous elements of data,
organized for retrieval) •Business Intelligence System: is designed to provide the
manager with ongoing information about events & trends. • Strategy: the general
approach an organization will follow to achieve its goal. • Tactics: Specific
timed activities that execute a strategy.
INTRODUCTION

Purpose of Business Research

• To identify and define opportunities and problems. • To define, monitor, and
refine strategies • To define, monitor, and refine tactics
TYPES OF RESEARCHERS
• Custom Designed Research/Full-service research: Crafts a research design unique
to the decision maker’s dilemma. • Proprietary Methodology Researchers: A research
program owned by a single firm. It may be a slight twist on an established
methodology or may be developed by that firm. • Specialty Research Firms:
represent the largest number of research firms and tend to dominate the small
research firms operated by a single researcher or very small staff. These firms
may establish a specialty in one or several arenas: • Process • Industry •
Participant group
TYPES OF RESEARCHERS

• Syndicated Data Providers: Tracks the change of one or more measures over time,
usually in a given industry. • Omnibus Researchers: An omnibus researcher fields
research studies, often by survey, at regular, predetermined intervals. An omnibus
study combines one or a few questions from several decision makers who need
information from the same population.
Research Report Components
     

Prefatory Items Introduction Methodology Findings Conclusions Bibliography

Prefatory Items
    

Letter of Transmittal Title Page Authorization Letter Executive Summary Table of

Contents
Introduction


Problem Statement Research Objectives Background


Methodology
   

Sampling Design Research Design Data Collection Data Analysis

RESEARCH DESIGN
THE RESEARCH PROCESS

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Define the problem Define the research objective Choose data sources Choose
research methods Construct sample Set budget and deadlines Undertake research
Analysis and evaluation
THE RESEARCH DESIGN
RESEARCH DESIGN

EXPLORATORY RESEARCH DESIGN

CONCLUSIVE RESEARCH DESIGN

DESCRIPTIVE RESEARCH

CAUSAL RESEARCH

CROSS-SECTIONAL DESIGN

LONGITUDINAL DESIGN

SINGLE CROSS-SECTIONAL DESIGN

MULTIPLE CROSS-SECTIONAL DESIGN

EXPLORATORY RESEARCH

• OBJECTIVE: DISCOVER IDEAS & INSIGHTS • CHARACTERISTICS: FLEXIBLE, VERSATILE •

METHODS:  EXPERT SURVEYS  PILOT SURVEYS  SECONDARY DATA (Qualitatively
analyzed)  QUALITATIVE RESEARCH
SECONDARY DATA (Qualitatively analyzed
• PRIMARY DATA: Data originated by a researcher for the specific purpose of
addressing the research problem. • Included among primary sources are interviews,
speeches etc • SECONDARY DATA: Data collected for some purpose other than the
problem at hand. • Included among secondary data are reports available in the
libraries/ internet, magazines, newspapers etc.
ADVANTAGES OF SECONDARY DATA

    

Easily Accessible Relatively Inexpensive Quickly Obtained Better define the

problem Formulate an appropriate research design
DISADVANTAGES OF SECONDARY DATA

Usefulness to the current problem may be limited Irrelevant Inaccurate


Classification of Secondary data

 

Internal Data:
Ready to Use Requires further processing


  

External Data:
Published Materials Computerized Database Syndicated Services
Qualitative Research Procedures

Direct

Indirect

Focus Group

Depth Interviews

Projective Techniques

Association Techniques

Completion Techniques

Construction Techniques

Expressive Techniques
FOCUS GROUP INTERVIEWS


Unstructured Free Flowing Group Interview Start with Broad Topic and focus in on
Specific issues


SELECTING SAMPLE FOR FOCUS GROUP
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Number varies between 6 – 12 people Relatively Homogeneous Individuals preferably

should not know each other

Moderators
   

Develops Rapport - Makes People Relax Interacts Listens to What People Have to Say
Everyone Gets a Chance to Speak
Advantages:
  

Economical Quicker Results in New Ideas usually

Disadvantages:
  

Moderators need to be well trained Results may be influenced by the moderators

Dominant personalities may take over group
DEPTH INTERVIEWS
Characteristics: Unstructured
Direct Personal Interview

Techniques:

Laddering Hidden Issues Symbolic Analysis

Advantages:
 

Brings out Information clearly Flexibility

Disadvantages:
   

Interviewer Bias Longer Time Involved Costs Involved Difficulty in Interpretation

PROJECTIVE TECHNIQUES Characteristics: Unstructured
Indirect form of Questioning
DEGREE OF PROBLEM DEFINITION

Exploratory Research (Unaware of Problem)

Conclusive Research (Aware of Problem)

Vague Problem

Exploratory Research

Hypothesis

Conclusive Research

Decision
CONCLUSIVE RESEARCH

OBJECTIVE: EVALUATING ANS SELECTING BEST COURSE OF ACTION CHARACTERISTICS: FORMAL

AND STRUCTURED INFORMATION NEEDED IS CLEARLY DEFINED SAMPLE IS LARGE


DESCRIPTIVE RESEARCH
• OBJECTIVE: DESCRIBE MARKET CHARACTERISTICS OR FUNCTIONS • CHARACTERISTICS:
PREPLANNED & STRUCTURED DESIGNS LARGE SAMPLE SIZE

• METHODS:  SURVEYS  OBSERVATIONAL

SURVEY METHODS


Telephonic Interviewing Personal Interviewing Mail Interviewing Electronic

Interviewing


OBSERVATION METHODS
  

Structured & Unstructured Observation Disguised & Undisguised Observation Natural

& Contrived Observation
CROSS – SECTIONAL DESIGN

INCLUDES:


SINGLE CROSS – SECTIONAL DESIGN MULTIPLE CROSS – SECTIONAL DESIGN


LONGITUDINAL DESIGN

FIXED SAMPLE OF POPULATION ELEMENTSMEASURED REPEATEDLY ON THE SAME VARIABLES

CAUSAL RESEARCH


OBJECTIVE: TO OBTAIN EVIDENCE REGARDING CAUSE - EFFECT RELATIONSHIP

CHARACTERSTICS: PLANNED & STRUCTURED DESIGN


ATTITUDE MEASUREMENT
PRIMARY SCALES OF MEASUREMENT
   

Nominal Scale Ordinal Scale Interval Scale Ratio Scale

SCALING

THE GENERATION OF A CONTINUM UPON WHICH MEASURED OBJECTS ARE LOCATED

SCALING TECHNIQUES

COMPARATIVE SCALE

NON – COMPARATIVE SCALES

CONTINOUS RATING SCALE

ITEMIZED RATING SCALE

PAIRED COMPARISON CONSTANT SUM LIKERT

RANK ORDER
Q - SORT

SEMANTIC DIFFERENTIAL

STAPEL
SAMPLING TECHNIQUES
SAMPLE

A SUBGROUP OF THE ELEMENT OF THE POPULATION SECLECTED FOR PARTICIPATION IN THE

STUDY
SAMPLING TECHNIQUES

NON - PROBABILITY

PROBABILITY

SIMPLE RANDOM SAMPLING CONVENIENCE SAMPLING STRATIFIED SAMPLING

QUOTA SAMPLING JUDGMENTAL SAMPLING

SNOWBALL SAMPLING

SYSTEMATIC SAMPLING CLUSTER SAMPLING

SAMPLING DESIGN PROCESS
    

Define Target Population Determine Sampling Frame Select a Sampling Techniques

Determine Sample Size Execute the Sampling Process
QUESTIONNAIRE CONSTRUCTION AND DATA COLLECTION
QUESTIONNAIRE DESIGN PROCESS
Specify the information needed Specify the type of interviewing method Determine
the content of individual questions Design the questions to overcome the
respondents inability & unwilling to answer Design on question structure Determine
the question wording Arrange the question in proper order Identify the form &
layout Reproduce the Questionnaire Eliminate bugs by pretesting

   

     
Determine the Content of Individual Questions


Is the Question necessary Are Several Questions needed instead of one


Overcoming Inability to Answer


Is the Respondent Informed Can the Respondent Remember


Overcoming Unwillingness to Answer


Effort Required of the Respondents Sensitive Issues Legitimate Purpose


Choosing Question Structure


Unstructured Questions Structured Questions


Choosing Question Wording


Define the Issue Use Ordinary Words Use Unambiguous Words