MKT-311 Business Research
Methods
BBA-6 (A)
FALL 2015
Dr. Abdul Kabeer Kazi
10/12/15
Business research
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Business research is defined as the
systematic and objective process of
generating information for aid in making
business decisions.
- Including financial research, operational
research, Marketing research
Dr. Abdul Kabeer Kazi
10/12/15
BUSINESS RESEARCH
A systematic and objective process:
of gathering, recording and analyzing data for
aid
in
making
business
decisions
of
investigating a specific problem in work setting
that needs a solution
The entire process by which we attempt to solve
problems is called RESEARCH
Dr. Abdul Kabeer Kazi
10/12/15
BUSINESS RESEARCH
Research information is neither intuitive nor
haphazardly gathered.
Business research must be objective
Detached and impersonal rather than biased
It facilitates the managerial decision process for all
aspects of a business.
Dr. Abdul Kabeer Kazi
10/12/15
Business Research
5
Research information is neither intuitive nor
haphazardly gathered.
Literally, research (re-search) -search again
Business research must be objective
Detached and impersonal rather than biased
It facilitates the managerial decision process for all
aspects of a business.
Dr. Abdul Kabeer Kazi
10/12/15
When is Business Research Used?
Typically, business research methods
are used in situations of uncertainty,
that is, when decision-makers face two
or more courses of action and seek to
select the best possible alternative under
the circumstances.
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When is Business Research
Used?
Business Research is hence aimed at
improving the quality of decision-making
which, in turn, benefits the organization and
helps ensure its continuity and efficiency
Dr. Abdul Kabeer Kazi
10/12/15
Typical Users of Business Research
Methods
Businesses and Corporations
Public-Sector Agencies
Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants
Dr. Abdul Kabeer Kazi
10/12/15
Selected Examples of Real-Life Situations in Which
Business Research Methods are Used
A firm wants to produce and market a new product
but first wants to ascertain if there is a potential
consumer demand for this product in markets x,y
and z
a multinational firm wants to establish a
production facility in another country after
determining its technical and economic feasibility
A government agency wants to ascertain the
satisfaction level of its employees, the causes for any
possible discontent, and propose a scheme for
enhancing this level
Dr. Abdul Kabeer Kazi
10/12/15
Business Research Types
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Basic research
Applied research
Dr. Abdul Kabeer Kazi
10/12/15
Basic and Applied Research
Basic Research aims to expand the frontiers of science
and knowledge by verifying or disproving the acceptability
of a given theory or attempting to discover more about a
certain concept (non-specificity)
Example: How does motivation affect employee performance?
Applied Research focuses on a real-life problem or
situation with a view to helping reach a decision how to deal
with it (Specificity)
Example: Should Corporation X adopt a paperless office
environment?
Dr. Abdul Kabeer Kazi
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BASIC RESEARCH
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Also called Pure or fundamental
Research
It is undertaken for increase in
knowledge
There is no direct benefit as it is a
research for the sake of research
It is the source of most new theories,
principles and ideas.
Basic research rarely helps anyone
directly.
Dr. Abdul Kabeer Kazi
10/12/15
BASIC RESEARCH
It only stimulates new ways of thinking.
The main motivation is to expand man's
knowledge.
There is absolutely no commercial value to
the discoveries resulting from such research.
In the long run, it forms the basis of applied
research or development commercial products
Dr. Abdul Kabeer Kazi
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Basic Research Example
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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?
Dr. Abdul Kabeer Kazi
10/12/15
APPLIED RESEARCH
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It is use of basic research
or past
theories, knowledge and methods for
solving an existing problem
It deals with practical problems
Applied Research focuses on
uncovering what needs are not being
met
It uses information in designing
products or services that would create
their own demand
Dr. Abdul Kabeer Kazi
10/12/15
Applied Research Examples
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Should McDonalds add Italian pasta dinners to its
menu?
Business research told McDonalds it should not?
Should Procter & Gamble add a high-priced home
teeth bleaching kit to its product line?
Research showed Crest Whitestrips would sell well at
a retail price of $44
Dr. Abdul Kabeer Kazi
10/12/15
Scientific Method
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The analysis and interpretation of empirical
evidence (facts from observation or
experimentation) to confirm or disprove prior
conceptions.
Dr. Abdul Kabeer Kazi
10/12/15
The Essence of the Scientific
Method
Applied
Research
Dr. Abdul Kabeer Kazi
Scientific
Method
Basic
Research
General Laws
Elements of the
Scientific Method
Objectivity
Systematic Analysis
Logical Interpretation of Results
Empirical Approach
Observations
Questions
Hypotheses
Experiments
Analysis
Conclusion
Replication
Characteristics of the Scientific Method
Information or
Ideas for alternative
Courses of action
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The Value of Business Research
for Managers (1)
Reduction of uncertainty and improvement in the quality of
decision-making with several consequent advantages (e.g.
strategic, operational) and benefits for organizations
Dr. Abdul Kabeer Kazi
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10/12/15
The Value of Business Research for Managers (2)
Business Research Methods can be employed in each of the
following four stages:
1.
Identification of problems and/or opportunities
Useful for strategy planning, analysis of internal and external
organizational environment
2.
Diagnosing and Assessment of problems and/or opportunities
Its purpose is to gain insight into the underlying reasons and
causes for the situation. If there is a problem, it asks what
happened and why? If there is an opportunity, it seeks to explore,
clarify and refine the nature of the opportunity and, in the case of
multiple opportunities, seeks to set priorities
Dr. Abdul Kabeer Kazi
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The Value of Business Research
for Managers (3)
3. Selection and Implementation of Courses of Action
After alternative courses of action have been
determined, selection of
the best possible course.
An important consideration is the quality of forecasting
which is an
essential tool of research
4. Evaluating the Course of Action
Business Research Methods are used after a course of
action has been
implemented in order to determine whether activities
have been
properly implemented and have accomplished what they
Dr. Abdul Kabeer Kazi
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intended to
When Should Business Research
be Undertaken?
Is sufficient time
available?
Yes
Is information
inadequate?
NO
Yes
Do not
undertake Business Research
High importance
of decision?
Yes
Research benefits
greater than costs?
Dr. Abdul Kabeer Kazi
Undertake Business Research
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The Building Blocks of Research
Blend of information, experience and in-sights that
provides a framework that can be thoughtfully evaluated
KNOWLEDGE
when assessing new information or evaluating
relevant situations
Determination of relationship amongst data with a
view to facilitating understanding of the phenomena,
INFORMATION
their relationships and decision-making
(e.g. past and predicted future sales trends)
DATA
Dr. Abdul Kabeer Kazi
Measurements of phenomena
(e.g. sales statistics of a department store)
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Data and Information Sources for Business Researchers
(Pakistan)
Federal and provincial ministries of commerce, industries and production
Federal, provincial and city Chambers of Commerce and Industry
State Bank of Pakistan, Pakistan Banking Council, local and foreign banking
institutions
Stock Exchanges
National Investment Board
Export Promotion Bureau
Manufacturers, Traders and Exporters Associations
Research Institutes (e.g. Pakistan Institute of Development Economics)
Newspapers and Magazines (e.g. Business Recorder, Pakistan and Gulf
Economist)
Business and Trade Directories
Internet (e.g.: [Link])
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