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Zaki Rashidi
Advanced Research Methods
Overview
Lecture 1
Defining Research
Definition by Cooper Definition by Zikmund
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A process of determining,
acquiring, analyzing, synthesizing,and disseminating
relevant
business data, information, and
insights to decision makers in
ways that mobilize the
organization to take appropriate
business actions that, in turn,
maximize business performance
Business Research may
be defined as thesystematic and objective
process of gathering,
recording and analyzing
data for aid in making
business decisions
(Zikmund, Business
Research Methods, 2002,
p. 6)
More definitions
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Research is the process of
finding solutions to a
problem after a thorough
study and analysis of thesituational factors.
An organized, systematic,
critical, objective, scientific
inquiry or investigation
into a specific problem,
undertaken with the
propose of finding answers
or solutions to it.
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Research involves ...Objectivity
Precision
Verification
Parsimonious Explanation
Empiricism
Logical Reasoning
Probabilistic Thinking
Typical Users of Business Research Methods
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Businesses and Corporations
Public-Sector Agencies
Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants
Fields Where Business Research is Often Used (1)
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General Business Conditions and
Corporate Research
Short- & Long-Range Forecasting,
Business and Industry Trends
Global Environments
Inflation and Pricing
Plant and Warehouse Location
Acquisitions
Financial and Accounting Research
Forecasts of financial interest rate trends,
Stock,bond and commodity value predictions
capital formation alternatives
mergers and acquisitions
risk-return trade-offs
portfolio analysis
impact of taxes
research on financial institutions
expected rate of return
capital asset pricing models
credit risk
cost analysis
Management and Organizational
Behaviour Research
Total Quality Management
Morale and Job Satisfaction
Leadership Style
Employee Productivity
Organizational Effectiveness
Structural ssues
Absenteeism and turnover
Organizational Climate
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Fields Where Business Research is Often Used (2)
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Sales and Marketing Research
Market Potentials
Market Share
Market segmentation
Market characteristics
Sales Analysis
Establishment of sales quotas
Distribution channels
New product concepts
Test markets
Advertising research
Buyer behaviour
Customer satisfaction
Website visitation rates
Information Systems Research
Knowledge and information needs assessment
Computer information system use andevaluation
Technical suppot satisfaction
Database analysis Data mining
Enterprise resource planning systems
Customer relationship management systems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and promotion
Sex, age and racial discrimination / workerequity
Social values and ethics
Selected Examples of Real-Life Situations in WhichBusiness
Research Methods are Used
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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
A financial institution wants to invest in commodities and
commissions a study to determine
the past trends and forecast future returns in a portfolio of
commodities
The CEO of a firm wants to undertake a SWOT-Analysis as part of
his plan to redefine his
organizations priorities
Four Functions of Research
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BasicResearch
AppliedResearch
Action
Research
Evaluation
Research
Basic and Applied Research
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Basic Research aims to expand the frontiers of 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?
Action and Evaluation Research
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Action Research aims to solve a problem in an organization
or
improve a situation. It is usually done by the intervention of
the
researcher. Usually it is implemented by the recommendations of
theresearcher and its results are refined further.
Example:Will the flexi hours reduce the absenteeism at
SZABIST?
Evaluation Research focuses on evaluating a situation or
practice
like a project or any plan. It tries to find the success on a
given
parameters.
Example: How much successful is the new marketing plan of
P&G in
promoting the company as CSR organization??
Is sufficient time
available before
a managerial
decision
must be made?
Is the infor-
mation already
on hand
inadequate
for making
the decision?
Is the decision
of considerable
strategic
or tactical
importance?
Does the value
of the research
information
exceed the cost
of conducting
research?
Conducting
BusinessResearch
Do Not Conduct Business Research
Time Constraints
Availability of Data
Nature of the Decision
Benefits
vs. Costs
Yes YesYesYes
No No No No
Determining When to Conduct Business Research
