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Lecture 1intro RM

Here are some key research areas the person could explore: - Market size and potential for services/products - Competitive landscape and strengths/weaknesses - Economic and business conditions in the local industry - Cost of doing business including taxes, wages, real estate - Cultural factors that may impact operations or preferences - Legal and regulatory environment for foreign businesses - Industry trends and outlook in that location - Availability of qualified employees/talent - Infrastructure and logistical considerations - Political and economic stability The research would help evaluate if a new branch is viable and how it could be structured to succeed in that foreign location. Both qualitative and quantitative research methods could provide valuable insights.

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harsimran
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19 views

Lecture 1intro RM

Here are some key research areas the person could explore: - Market size and potential for services/products - Competitive landscape and strengths/weaknesses - Economic and business conditions in the local industry - Cost of doing business including taxes, wages, real estate - Cultural factors that may impact operations or preferences - Legal and regulatory environment for foreign businesses - Industry trends and outlook in that location - Availability of qualified employees/talent - Infrastructure and logistical considerations - Political and economic stability The research would help evaluate if a new branch is viable and how it could be structured to succeed in that foreign location. Both qualitative and quantitative research methods could provide valuable insights.

Uploaded by

harsimran
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Meaning of research

 Scientific and systematic search for


pertinent information on a specific topic

 A careful investigation and enquiry


specially through search for new facts in
any branch of knowledge
Your research will take you
on a journey to find out:
 What is already known
 What is still unknown
 What is worth knowing
 What is knowable
 What is the best way of designing a study
in order to find answers to what is:
Unknown, Worth knowing and Knowable
OUR JOB
Our major objectives are….

 To understand the importance of research in


business.
 To understand the various terminologies
related to research.
 To understand the process of business
research.
 To conduct research in area of your interest .
Business Research

 Business research is defined as the


systematic and objective process of
gathering, recording and analyzing data
for making business decisions
Business Research Types

Basic research

Applied research
Basic research
(Pure/Fundamental)
 To generate a body of knowledge by trying to
comprehend how certain problems that occur
in organizations can be solved
 This basic knowledge gained by the findings
can later on be applied by some
organizations to solve their own problems
Basic Research Example

 Is executive success correlated with


high need for achievement?
 Are members of highly cohesive work
groups more satisfied than members of
less cohesive work groups?
Applied Research

 Research done with the intention of


applying the results of the findings to
solve specific problems currently being
experienced in the organisation
 To solve a current problem faced by the
manager in the work setting, demanding
a timely solution
Applied Research Examples
 What should a company do in a
particular geographic region to increase
its market share?
Examples
 Sc:1: A university professor wanted to analyze in
depth the reasons for absenteeism of employees in
organisations. Fortunately, a company within 20
miles of the campus employed her as a consultant to
study that very issue.
 Sc:2: A research scientist surveys 1000 employees in
different organisational settings to study the efficacy
of several types of nasal sprays in controlling the flu
virus. He subsequently publishes his findings in a
highly respected medical journal.
An Example…..
You want to know your Employees’ opinion
about having a health center in your
organization. Think of the steps that you
would take to get the answer .
The Steps…..

The things that would have struck your mind


are….
 You will be ( Who )
 Asking your employees ( Whom )
 Their opinion ( What )
 Through interview OR questionnaire ( How )
 While they are in the office ( Where & When)
 To find out if they need a health centre ( Why )
AND ONLY THEN WILL YOU TAKE

YOUR DECISION ABOUT THE

HEALTH CENTER.

This is RESEARCH .
Scope of research
Research comprises defining and
redefining problems, formulating hypothesis
or suggested solutions, collecting,
organizing and evaluating data, making
deductions and reaching conclusions and
at last carefully testing the conclusions to
determine whether they fit the formulating
hypothesis
Functions of Research

 Validation of Knowledge
 Correction of Knowledge
 Generation of Knowledge
 Diagnosis of the situation
 Prediction of events
 Evaluation of process /product / project
BUSINESS RESEARCH

RESEARCH
AREAS

HUMAN INFORMATION
MARKETING FINANCE
RESOURCE TECHNOLOGY
RESEARCH AREAS…..

 Employee attitude
 Leadership styles
 Performance appraisals
 Product innovations
 Consumer complaints
 Image building
 Investment decisions
 Dividend policies
Continued…

Alternate work patterns


 Outsourcing
 Management info systems
 Brand building & positioning
 Retirement policies
 Diversification

So on & so forth……
Can you name a few more ?????
Managerial Value of Business Research

 Identifying problems or opportunities


 Diagnosing & assessing problems or
opportunities
 Selecting & implementing a course of
action
 Evaluating a course of action
BUSINESS ENVIRONMENT
Every Business works in a variety of ENVIRONMENTS.

 Economic ( Macro & Micro )

 Social ( Human beings…Attitudes , Perceptions )

 Cultural ( Socio-cultural changes , Value crisis )

 Political ( National & International)

 Knowledge ( Science ,Technology & Skills )

 Legal ( National & International )


 There is a constant change in each of these
environments.

 The people who run the business & their


employees also undergo change continuously.

Hence there is always a generation of newer


problems, which need solutions.

21
Hence there is always a

constant demand for

RESEARCH in BUSINESS .

22
Features of good research
study
 Objectivity
 Control
 Generalizability
 Free from personal biases
 Systematic
 Reproducible
You have been sent to another
country to study the feasibility of
opening a branch office of your
organization.

Identify the research areas.


Research process in flow chart
Define research Design research
problem FF
Collect data
Review concepts
Theories and
previous research
findings Analyze data

Formulate F
hypothesis Interpret &
report

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