What is research ?
Labs, test tubes, Bunsen burners
Impact of grading system for internal evaluation on IBS students?
Breakfast habits of IBS students
Why managers should know about research ?
Research generates viable alternatives for effective decision making.
Business Research Defined
Business research is defined as the systematic and objective process of generating information for aid in making business decisions. OR Systematic and organised effort to investigate a specific problem encountered in work setting with the purpose of finding answer or solution to the problem.
Business Research Types
Research Type
Basic research
Applied research
1. Basic research
Source of most new ideas and theories Focuses on refuting or supporting theories
2. Applied research
Conducted when a decision must be made about a specific real-life problem Conducted to address a specific concern or develop and solution Usually sponsored by some agency or organization Often specific to only one situation or population
Basic Research : (or Fundamental Research or Pure Research) Attempts to expand the limits of knowledge. Research that provides information about a phenomenon or test a theory These are studies performed to increase understanding of a topic To get insights by collecting observations It does not attempt to solve a specific problem Examples : How do consumers evaluate quality of service, Ford Foundation + HSPS+ ILO study Research on the Effects of Media Violence
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 : Problem specific research focused on resolving specific problems
Example: Why is quarterly sales showing a downward trend ? Am I losing my market share? To counter the competitor should rupees off be introduced to promote (stimulate demand) a product ?
Ashirwad Atta story.
Applied Research
Usually sponsored by some agency or organization Often specific to only one situation or population Conducted to address a specific concern or develop and solution Conducted when a decision must be made about a specific real-life problem exercise1.ppt#3. Slide 3
Applied research can be a. problem solving research specific, proprietary nature b. problem identification research concerned with a class of problems
Existing understanding
Basic research
Improved understanding ------------------------------------------------------Existing procedures, technology Applied research
Improved procedure or technology
The Decision-making Process: Role of Business Research
Identifying problems and opportunities Diagnosis and assessment Selecting and implementing a course of action Evaluating the course of action
Determining When to Conduct Business Research
Time constraints Availability of resources Nature of the information required Nature of Decision Benefits versus costs
Determining When to Conduct Business Research
Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes
Is the information already on hand inadequate for making the decision?
Yes
Is the decision of considerable strategic or tactical importance?
Yes
Does the value of the research information exceed the cost of conducting research?
Yes
Conduct Business Research
No
No
No
No
Do Not Conduct Business Research
Value Should Exceed Estimated Costs
Value
Decreased uncertainty Increased likelihood of a correct decision Improved business performance and resulting higher profits
Research expenditures
Delay of business decision and possible disclosure of information to rivals Possible erroneous research results
Costs
Major Topics for Research in Business
General Business Conditions and Corporate Research Financial and Accounting Research Management and Organizational Behavior Research Sales and Marketing Research Information Systems Research Corporate Responsibility Research exercise1.ppt#1. Slide 1
Business Research in the 21st Century
Increased globalization Growth of the Internet and other information technologies
Global Research
Business Research is increasingly global Market knowledge is essential A.C. Nielsen - more that 67% international business
Global Business Research
General information about country economic conditions and political climate Cultural and consumer factors Market and competitive conditions demand estimation
The Internet Is Transforming Society
Time is collapsing. Distance is no longer an obstacle. Crossing oceans is only a mouse click away. People are connected 24 hours a day, seven days a week. "Instantaneous" has a new meaning.
Internet Research
Seeking facts and figures about an issue Surveys on Web sites
