Business Research Methods

UNIT-1
Meaning of
Research
• Search for knowledge
• A scientific and systematic search for knowledge on
a specific topic
• An investigation or enquiry specially through search
for new facts in any branch of knowledge
 Definition of
Research
Comprises defining and redefining problems, formulating hypotheses,
collecting, organizing and evaluating data and making conclusions and
lastly testing conclusion whether this fits the formulating hypotheses.
– Clifford Woody
An original contribution to the existing stock of knowledge.
Systematic approach concerning generalizations and the formulation of
a theory.
Research Significance/Importance
 (a) To those students who are to write a master’s or Ph.D. thesis,
research may mean a careerism or a way to attain a high position
in the social structure;
 (b) To professionals in research methodology, research may mean
a source of livelihood;
 (c) To philosophers and thinkers, research may mean the outlet
for new ideas and insights;
 (d) To literary men and women, research may mean
the development of new styles and creative work;
 Research Significance/Importance

• Generation of new ideas, concepts and theories.

• Solve various operational and planning problems.
• Provides basis for government policies.
• Important for social scientists, research analysts,
academicians and also for students.
TYPES OF
RESEARCH
1. General Classification
2. On the basis of Objectives
 Quantitative v/s Qualitative
Research
Quantitative Research
• Based on measurement of quantity or amount.
• Focus on “What”
• Leads to collection & analysis of data/numbers
• There is systematic investigation via techniques
• Methods Used: Questionnaire, Survey, Structural Observation
• It is Objective
• Nature- Deductive (General to Specific)
• Eg-What was Income level in the year 2020?
 Qualitative Research
• Concerned with qualitative phenomena.
• Designed to find out how people feel or what they think about aparticular issue of
institution.
• Focus on Why
• Unstructured
• Subjective
• Method-Observation & Interview
• Inductive ( Specific to General)
• Eg- Why did you like this movie.
 Approaches to Qualitative Reserach
• Focus Group
• Direct Observation
• In-Depth Interviews
• Narrative Research
• Phenomenology-Understand how one or more individuals experience a
phenomena
• Ethnography-Study of Culture
• Case study-In depth Analysis
• Content Analysis-Text Analysis
• Grounded Theory- Develop theory from data collected through field
Reserach.
 Mixed Reserach
Both Qualitative & Quantitative
Eg- Collecting data about Indians perception of wearing black or white
clothes on their wedding.
Methods used- Survey(Quantitative) and Interviews( Qualitative)
 Difference

Parameters Quantitative Qualitative

Aim Focus on What Focus on Why

Nature Structured UnStructured

Approach Deductive Inductive

Nature Objective Subjective
Scope Universal Limited
Methods Used Survey, Structured Observation, Interviews Etc
Observations
 Inductive

Specific to General
Bottom up Approach

Eg: Covid vaccine has given side effcets to A

Covid vaccine has given side effcets to B
Covid vaccine will give side effcets to everyone (may or
may not be true)
Steps:
Observe-Pattern-Develop Hypothesis-Theory
 Deductive
General to Specific
Up Down Approach
Eg: Covid vaccine prevents everyone from virsus
Covid vaccine prevents A from virsus (100% True)
Covid vaccine prevents B from virsus (100% True)
Steps:

Theory-Develop Hypothesis- Observe-Confirm

 Applied v/s Fundamental Research

Fundamental/ Basic/ Pure /Conceptual Research

Concerned with generalizations and with the formulation of a
theory.
It is theoretical in nature
Leads to increase in knowledge base
Scope is Universal & leads to generalisations.
Eg: Making generalisations about humans beahviour
A study on how alcohol consumption impacts the brain.
 Applied Research
 Aims at finding a solution for an immediate problem facing a society or an industrial
or business organization.
 It is practical in nature
 Leads to solutions for existing problems
 Scope is limited & does not leads to generalisations
 Eg: Market Research
 A study on how to improve illiteracy in teenagers.

 Action Research

It is part of Applied Research.

Aim: Finding solutions to immediate existing local school level
problems.
Developed by Kurt Lewin in 1944
It is practical in nature
Leads to soltuions for esxisting local school level problems.
No Generalisations.
Process- Plan-Act-Observe -Reflect
Using music to stimulate creative writing in students.
 Differences
Action Applied

Level Local Level Large Level

Training Little More

Performed Practioners Experts

 Experimental Research
Aim: Show cause & effect of variables
Dependent & Independent Variables
Independent variables are manipulated and its effect on
Dependent variables is observed.
All other variables are constant.
Eg: Effect of exercises on health.
Important Characteristics:
control the situations
Manipulate -IV
Observe -DV
Criteria of Experimental Reserach
Random Assignment
Experimental Control
Appropriate Measure
 Quasi Experimental Research

It is half Experimental Reserach

There is no random assignment rest everything is same as
Experimental Research.
 Ex Post/ Causal comparative Research
 Includes surveys and fact finding enquiries of different kinds and also includes
description of the present state of affairs.
 No control over the variables, only able to report what has happened and
what is happening.
 Hypothesis is formulated.
 Eg: How weight influences self-esteem in adults.
Analytical Research
Aim: In depth analysis or critical evaluation of a phenomenon.
 Eg: Impact of chanting on Mental Peace.
 Conceptual v/s Empirical Research

Conceptual Research
Related to some abstract ideas or theories.
To develop new concepts or to reinterpret the existing
ones.

Empirical Research/ Experimental Research

Relies on experience or observation alone.
 Historical Research

Aim: Reserach of Past events

Study of events which has already occured in past
Quantitative in nature
Approach is Deductive
Figures cannot be generalised.
Eg: Research on growth of Industrialisation in India.
No Hyothesis is formed so it is different from Ex post Research
 Diagnostic Research

Aim: Research of frequency of events.

To find out how frequently a particular event is associated with
another event.
Eg: A fast food chain has conducted a reserach to find out
feasibility of setting up an outlet in multiplex and how
frequently people consume food before and after watching a
movie.
 Exploratory Research

Aim: Find answers of certain questions

To gain Familiarity with a particular topic.
It is a preliminary study
It is open ended & unstructured research
Eg: A domestic company planning to launch its operations
abroad.
 Descrptive Research

Aim: Describes the characteristics

Hypothesis is formulated & tested here
Methods used: 90% time survey is conducted
What is used
Quantitative
Uncontrolled variables
Cross Sectional
Eg: Black clouds bring rain.
Cross Sectional Research:
Part of Descriptive Research
You compare multiple groups at one time
Longitudinal Research:
Part of Descriptive Research
You compare one group at one time

Correlational Research:
Aim: Describes correlation between variables
Quantitative
 Explanatory Research

Collect Info-Exploratory
Give Info- Descriptive
Relate Info- Correlation
Give full info- Explanatory/ Causal Effect
Conductive for a problem not well research before.
Eg: Which cloud bring rain
 Difference

Parameters Exploratory Descriptive Explanatory

Research Research Research
Amount of Highly Ambiguous Partly Defined Clearly Defined
Uncertainity
Conducted Early Stages Later Stages Later Stages
Research Approach Unstructured Structural Structural

Example Why sales are What is product Will sales increase

decreasing demand with advertising
RESEARCH APPLICATIONS IN FUNCTIONAL AREAS
OF BUSINESS
 How do organizations use CSR (corporate social responsibility) to reinforce brand
equity?
 Impact of brand image on customer loyalty
 Influence on Social Media advertising on consumer behaviour
 Does social media influence buying behaviour
 Women’s sentiments around comparison advertising
 How do males and females differ in their buying behaviour of mobile phones
EMERGING TRENDS IN BUSINESS
RESEARCH
 Can watsapp help small business grow?
 Watsapp Official Group: A boon or a Bane
 Influence of Artificial Intelligence on Marketing
practices
 Influence of Artificial Intelligence on HRM practices
 Influence of Artificial Intelligence on Finance practices
 Objectives of Research
To discover the answers for the questions which are unanswered.
To gain familiarity with the concepts.
To highlight the pertinent characteristics of an individual, situation or
a group.
To analyze the collected information.
To test a hypothesis or to find out causal relationship between
variables.
To design new policies and to modify the existing ones.
Research and Scientific
Method
The scientific method is, thus, based on certain basic postulates which can be stated
as under:
 1. It relies on empirical evidence;
 2. It utilizes relevant concepts;
 3. It is committed to only objective considerations;
 4. It presupposes ethical neutrality, i.e., it aims at nothing but making only adequate
and
correct
 statements about population objects;
 5. It results into probabilistic predictions;
 6. Its methodology is made known to all concerned for critical scrutiny are for use in
testing
the conclusions through replication;
 7. It aims at formulating most general axioms or what can be termed as scientific
theories.
 Research Process
Systematic arrangement of various steps of
research.
A sequential analysis
A procedural way of conducting the research
 Steps for Research
Process
 Formulating research problem
 Extensive literature review
 Development of hypotheses
 Preparing the research design
 Determining sample design
 Data collection
 Analysis of data
 Hypothesis testing
 Generalizations and interpretation
 Report preparation (Thesis)
Formulating research
problem

 (i) statement of the problem in a general way;

 (ii)understanding the nature of the problem;
 (iii) surveying the available literature
 (iv) developing the ideas through discussions; and
 (v) rephrasing the research problem into a working
proposition.
“Why is productivity in Japan so much higher than in
India”?
Investigation
question
 What sort of productivity is being referred to?
 With what industries the same is related?
 With what period of time the productivity is being talked
about?
RESEARCH
QUESTION

 “What factors were responsible for the higher labour productivity of

Japan’s manufacturing industries during the decade 1971 to 1980 relative
to India’s manufacturing industries?”
MANAGEMENT QUESTION

 “To what extent did labour productivity in 1971 to 1980 in Japan exceed that
of India in respect of 15 selected manufacturing industries? What factors were
responsible for the productivity differentials between the two countries by
industries?”
 Criteria of Good
Research
Clearly defined research purpose
Research procedure properly
described
Research process carefully planned
Sufficiently adequate analysis of data
Justified conclusion
Experienced researchers required
 Quality of Good
Research

Systematic
Logical
Empirical
Replicabe
 Problems encountered by researchers in
India
 Lack of trained research experts
 Difficulty of adequate information
 Problem of data collection
 Time limitation
 Library management not satisfactory
 Difficulty of timely availability of published
data
 Research Problem

Some difficulty which a researcher experiences in the context of

either a theoretical or practical situation and also wants to obtain a
solution for the problem.
 Points to be Kept in Mind while Selecting the
Research Problem
Subject already overdone should not be
chosen
Ignorance of
Avoidance of controversial
too narrow andsubjects
vague
problems
Feasibility of subject selection
Relevance of subject selection
Financial constraint
Time limitation
 Technique for Defining Research
Problem
Technique involved in defining a research problem involves
the following points -
Statement of the problem in a general way
Understanding the nature of the problem
Available literature survey
Developing ideas through discussions
Rephrasing the research problem
Basic assumptions clearly stated
Clearly defined technical terms and words