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Business Research Methods

This document provides an overview of business research methods. It defines business research as the systematic and objective process of generating information to aid business decisions. It discusses the characteristics of research, including that research originates from a question and requires a clear goal and plan. The document also outlines the differences between basic research, which aims to expand knowledge without solving practical problems, and applied research, which is conducted to make decisions about specific real-life business issues.

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Minh Hoàng
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75 views21 pages

Business Research Methods

This document provides an overview of business research methods. It defines business research as the systematic and objective process of generating information to aid business decisions. It discusses the characteristics of research, including that research originates from a question and requires a clear goal and plan. The document also outlines the differences between basic research, which aims to expand knowledge without solving practical problems, and applied research, which is conducted to make decisions about specific real-life business issues.

Uploaded by

Minh Hoàng
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Research Methods

Course Title:

Business Research Methods

Text Book:

Research Methodology: A step-By-Step Guide For


Beginners by Ranjit Kumar

Must Read Books:


 Business Research Methods by William G. Zikmund 7. ed
Reference Books:
 Greener, S. (2008) Business Research Methods, Ventus
Publishing. FREE download:
http://bookboon.com/uk/student/management/introduc
tion-to-research-methods
 Saunders, M., Lewis, P. and Thornhill, A. (2007).
Research Methods for Business Students, (4th ed.),
Prentice Hall - Financial Times.
What is Research?
 “The systematic investigation into and study of materials,
sources, etc., in order to establish facts and reach new
conclusions” Oxford English dictionary

 “A process of finding out information and investigating the


unknown to solve a problem” Maylor and Blackmon (2005)

 “Something that people undertake in order to find out


things in a systematic way, thereby increasing their
knowledge” Saunders et al (2007, p.5)
Business
Research
Business Research Defined

Business research is defined as the systematic and


objective process of generating information for aid
in making business decisions.
So what's not
Research?
 Research isn’t information gathering:

 Gathering information from resources such as books or


magazines isn’t research.
 No contribution to new knowledge.

 Research isn’t the transportation of facts:

 Merely transporting facts from one resource to another


doesn’t constitute research.
 No contribution to new knowledge although this might
make existing knowledge more accessible.
Research Characteristics
 Originates with a question or problem.
 Requires clear articulation of a goal.
 Follows a specific plan or procedure.
 Often divides main problem into sub problems.
 Guided by specific problem, question, or hypothesis.
 Accepts certain critical assumptions.
 Requires collection and interpretation of data.
Types of Business
Research
Application View Point

Basic Research
 Attempts to expand the limits of knowledge.

 Not directly involved in the solution to a pragmatic


problem.
 To test theory or to discover more about a concept.
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?
 Do consumers experience cognitive dissonance in low-
involvement situations?
Applied Research

Conducted when a decision must be made about a


specific real-life problem.
Applied Research Examples

 Should McDonalds add Italian pasta dinners to its menu?

 Business research told McDonald’s it should not?

 Should Procter & Gamble add a high-priced home teeth


bleaching kit to its product line?
Summarizing Applied And
Basic Research
Applied research is research undertaken to solve
practical problems rather than to acquire
knowledge for knowledge sake.

Basic research is experimental and theoretical


work undertaken to acquire new knowledge
without looking for long-term benefits other than
the advancement of knowledge.
Kind of Research Key Characteristics
Basic research Focuses on generating
fundamental knowledge

Applied research Focuses on real-world


questions and applications

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