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7/30/2019 BRT- Introduction to Research2
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Introduction to Research
http://www.google.com.ph/imgres?imgurl=http://boundless.typepad.com/.a/6a00d83451c4ae69e20115709d0523970c-400wi&imgrefurl=http://www.boundlessline.org/2009/06/im-here-papa.html&usg=__V9VnAo_O7VLdr9-0-FOW0CyGTPw=&h=300&w=400&sz=42&hl=tl&start=100&zoom=0&um=1&itbs=1&tbnid=YFP576OHo7eYjM:&tbnh=93&tbnw=124&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D80%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:1http://www.google.com.ph/imgres?imgurl=http://americancorner.hu/userfiles/Image/research.jpg&imgrefurl=http://americancorner.hu/htmls/research.html&usg=__TggDtirBiAKUXAEXsbjdwHvIcMw=&h=800&w=659&sz=211&hl=tl&start=92&zoom=1&um=1&itbs=1&tbnid=mVGy_CnB2sDZrM:&tbnh=143&tbnw=118&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D80%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:1http://www.google.com.ph/imgres?imgurl=http://cache1.asset-cache.net/xc/83120032.jpg%3Fv%3D1%26c%3DIWSAsset%26k%3D2%26d%3DF1683185B4CC7809882EE265452C797DEC00FF2C2B8FAEBA85593686DC5F11FA&imgrefurl=http://www.gettyimages.com/detail/83120032/Lifesize&usg=__WSEQVjLFLoqW9wGhpQquHfdzG1I=&h=338&w=506&sz=41&hl=tl&start=63&zoom=1&um=1&itbs=1&tbnid=WDeqovyy99T48M:&tbnh=88&tbnw=131&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D60%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:1http://www.google.com.ph/imgres?imgurl=http://4.bp.blogspot.com/_RxvMzQVL8r0/S85Md5OwzCI/AAAAAAAAAAU/J85WhAmVBos/s1600/Benthic.bmp&imgrefurl=http://clemsonconservation.blogspot.com/&usg=__zb6m_pRtHmCidkI-vupcjpMDAtE=&h=540&w=720&sz=92&hl=tl&start=61&zoom=1&um=1&itbs=1&tbnid=eSD-zgH19ytwMM:&tbnh=105&tbnw=140&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D60%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:17/30/2019 BRT- Introduction to Research2
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Discussions Last Week
1. Sample empirical results
2. What is research?
3. What is a research proposal?
4. Some weaknesses of research
5. Some helpful hints
2-2
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Why Study Research
Research provides the needed informationthat guides managers to make
informed decisions to successfully dealwith problems.
The information provided could be the
result of a careful analysis of datagathered firsthand or of data that arealready available (in the company).
http://www.google.com.ph/imgres?imgurl=http://boundless.typepad.com/.a/6a00d83451c4ae69e20115709d0523970c-400wi&imgrefurl=http://www.boundlessline.org/2009/06/im-here-papa.html&usg=__V9VnAo_O7VLdr9-0-FOW0CyGTPw=&h=300&w=400&sz=42&hl=tl&start=100&zoom=0&um=1&itbs=1&tbnid=YFP576OHo7eYjM:&tbnh=93&tbnw=124&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D80%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:1http://www.google.com.ph/imgres?imgurl=http://4.bp.blogspot.com/_RxvMzQVL8r0/S85Md5OwzCI/AAAAAAAAAAU/J85WhAmVBos/s1600/Benthic.bmp&imgrefurl=http://clemsonconservation.blogspot.com/&usg=__zb6m_pRtHmCidkI-vupcjpMDAtE=&h=540&w=720&sz=92&hl=tl&start=61&zoom=1&um=1&itbs=1&tbnid=eSD-zgH19ytwMM:&tbnh=105&tbnw=140&prev=/images%3Fq%3Dpictures%2Bof%2Bperson%2Bdoing%2Bresearch%26start%3D60%26um%3D1%26hl%3Dtl%26sa%3DN%26rlz%3D1T4ADSA_enPH344PH346%26ndsp%3D20%26tbs%3Disch:17/30/2019 BRT- Introduction to Research2
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Objectives of
Research:
To gain familiarity
with the
phenomenon
Exploratory/ formulative researchTo portray accurately the
characteristics of a particular
individual, situation or a group.
Descriptive research. To determine
the frequency with which something
occurs or with which it is associated
with something else.
Diagnostic research. To test a
hypothesis of a causal relationship
between variables hypothesis
testing research
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It is important for social scientists instudy in social relationships and inseeking answers to various socialproblem.
It solves various operationaland planning problems ofbusiness industry.
Provides the basis for nearly allgovernment policies in oureconomic system
Significance ofResearch
2-5
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General Business Conditions andCorporate 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 ratetrends,
Stock,bond and commodity valuepredictions
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
Fields Where Business Research is Often Used (1)
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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29 August 2005
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 needsassessment
Computer information system use andevaluation
Technical suppot satisfaction Database analysis
Data mining
Enterprise resource planning systems
Customer relationship managementsystems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising andpromotion
Sex, age and racial discrimination /worker equity
Social values and ethics
Fields Where Business Research is Often Used (2)
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29 August 2005
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
A financial institution wants to invest in commodities and commissions a
study to determine the past trends and forecast future returns in a portfolioof commodities
The CEO of a firm wants to undertake a SWOT-Analysis as part of his plan
to redefine his organizations priorities
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High Quality Research Requires:
The scope and limitations of the work
to be clearly defined.
The process to be clearly explained
so that it can be reproduced and
verified by other researchers.
A thoroughly planned design that is
as objective as possible.
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High Quality Research Requires that:
Highly ethical standards be applied.
Data be adequately analyzed and
explained.
All findings be presented
unambiguously and all conclusions be
justified by sufficient evidence.
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Types of Business Research
1.Applied research
Research aimed to solve a current problem faced by the
manager in the work setting, demanding a timely
solution.
2.Basic research (fundamental, pure)
Research aimed to generate a body of knowledge by
trying to comprehend how certain problems that occur inorganizations can be solved.
The findings of such research contribute to the building
of knowledge in the various functional areas of business.
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Categories of
Research
Quantitative
Qualitative Exploratory or
conceptual
Quantitative have statistical confidence
Qualitative no statistical significance; e.g. FGD
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Basic Characteristics of Qualitative
Research
The idea is to get participants to talk about experiences,
give opinions about situations, and to react to scenarios
or prototypes.
Characteristics
broad objectives
small samples results not generalizable to general or
target population best used early to identify issues, and again later in
process to validate
2-13
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Most Common Qualitative Research
Methods
Review of secondary information
Focus groups and related techniques
(brainstorming, etc.) Focus Groups These
groups let you hear people talk aboutneeds, wishes, current products (especially
strengths and weaknesses), how they
compensate for something they dont have,
attitudes about the market, etc.
2-14
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Interviews
Observations/ethnographic studies
(in setting where product or service
is actually used)
Ethnography - is a qualitative
research method aimed to learn
and understand cultural
phenomena which reflect the
knowledge and system of meaningsguiding the life of a cultural group.
Data collection is often done
through participant observation,
interviews, questionnaires, etc. 2-15
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Data collection is often donethrough participant observation,
interviews, questionnaires, etc.
2-16
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Quantitative Research
to test hypotheses, describe market or
target population characteristics, and check
relationships among variables
The results lead to formal conclusions andrecommendations to inform decision-
making
The idea is to get enough response that you
feel confident the results reflect the market.
2-17
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Basic Characteristics of Quantitative
Research
Defined objectives that include hypothesis
or hypotheses
Focused research design that identifieswho, how, what, why, when (and
sometimes even where)
Large enough sample to allow
generalization, projection of results
2-18
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Most Common QuantitativeResearch Methods
surveys mail, telephone, online
usability studies -help you refine various features of the
product as it is being developed.
field testing -test the product in use. Users put the
prototype through its paces
laboratory testing
conjoint analysis
2-19
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Conjoint analysis is a statistical technique used inmarket research to determine how people value different
features that make up an individual product or service.
used frequently in testing customer acceptance of newproduct designs, in assessing the appeal of
advertisements and in service design. It has been used in
product positioning.
2-20
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Conjoint analysis-The objective of conjoint analysis is todetermine what combination of a limited
number of attributes is most influential on
respondent choice or decision making. A
controlled set of potential products or
services is shown to respondents and by
analyzing how they make preferences
between these products, the implicitvaluation of the individual elements
making up the product or service can be
determined.
2-21
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Importance of BusinessResearch
Firm
Effective financial control and management Expansion (Physical/ Manpower/Capital) Customer satisfaction Innovation/Diversification of product/service High productivity
Optimum profit Risk aversion--to understand what the market (notjust a few customers) want and reduce the risk ofcreating the wrong product.
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Importance of Business
Research
Individual Acquireskillsinresearch Additionalincome Possiblecareer Provideinputstopolicyrecommendations Contributenewknowledgetothefield Personalfulfillment
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Characteristics of Research1. It is logical and objective.
2. It is expert, systematic and accurate investigation.
3. It gathers new knowledge and data from primary and
secondary sources.
4. It endeavors to organize data in quantitative terms, if
possible, and to express these data in numerical measures.
5. It requires courage
6. It is carefully recorded and reported
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Types of Business Research
1. Feasibility Study
Purpose:determinestheviabilityofaproduct,service,orprojectwhichisnotyetoperational
Scope:coversmarketing,production,management,legalandfinancialaspects
Respondent:selectedthroughsampling;doneforthemarketstudy
Analysis:Percentage,regression,ratios,ttest,Ztest,Chi-squaretest
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Types of Business Research2. Industry Study
Purpose:analyzesthepastandpresentperformanceofcompaniesandpredictsthefutureofthefirmsintheindustry
Scope:coversoneindustryandlooksatthemarketing,production,management,legal,andfinancialaspects
Respondent:selectedthrougheithertotalenumerationorsamplingoffirmswithintheindustry
Analysis:Frequency,percentage,timeseries,regression,
ratios
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TypesofBusinessResearch
3. Corporate Strategy
Purpose:aimstoproposestrategiestoimprovecompanyperformance
Scope:coversonefirmandlooksatacombinationorallofthefunctionalareas
Respondent:KeyinformantsAnalysis:Contentanalysis,frequency,
percentage
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Types of Business Research4. Case Study
Purpose:Describes/Explorespatternsoreventsinanin-depthmanner
Scope:Coversaparticulartopicofinterestofapersonorcompany
Respondent:Keyinformants
Analysis:Contentanalysis,frequency,percentage
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Types of Business Research5. Other Types of Applied Research
Purpose:Objectivescanbedescriptive,correlativeorcomparativetooffersolutions
orexpandknowledge
Scope :Dependsontheobjectiveofthestudy
Respondent:Selectedeitherthroughtotalenumerationorsampling
Analysis:Parametricandnonparametricstatistics
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TypesofBusinessResearch
6. Basic Research
Purpose:Aimstodevelopatheoryorconcept
Scope :Coversonespecifictheoryorconceptoragroupofrelatedtheoriesandconcepts
Analysis:Mathematicalmodelling,Econometrictechniques
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The Business
Research
Process
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The Business Research Process: 11 Steps
Step One: Establishing the Need for BusinessResearch
Step Two: Defining the Problem Step Three: Establishing Research Objectives
Step Fou r: Determining Research Design
Step Five: Identifying Information Types andSources
Step Six: Determining Methods of AccessingData
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The Business Research Process: 11 Steps cont
Step Seven: Designing Data Collection Forms
Step Eigh t: Determining Sample Plan and Size Step Nine: Collecting Data
Step Ten: Analyzing Data
Step Eleven: Preparing and Presenting the FinalResearch Report
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The Business Research ProcessStep One: Establish the Need for Business Research
Need for Bus iness Research
The data/information are already available
Relevance and urgency of the research
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The Business Research ProcessStep Two: Define the Problem
The most impo rtant step in the businessresearch process is def in ing the prob lem .
Problem Form lation
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Problem Formulation
Where do research topics come from?
The idea for a research project?
- one of the most common sources ofresearch ideas is the experience ofpractical problems in the field
The Literature Review
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T Research ProcessStep Three: Establish Research Objectives
What informat ion is needed in order to solve theproblem?
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The Business Research ProcessStep Four: Determine Research Design
Exploratory Research:collecting information inan unstructured and informal manner
Desc ript ive Research:refers to a set of methods
and procedures describing business variables Causal Research (experiments ):allows isolation
of causes and effects
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The Business Research ProcessStep Five: Identify Information Types and Sources
Secondary Data: information that has beencollected for some other purpose other than theresearch at hand
Primary Data:information that has been gathered
specifically for the research objectives at hand
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The Business Research ProcessStep Six: Determine Methods of Accessing Data
Secondary Data:accessing data throughsources such as the Internet and library
Primary Data: collecting data throughmethods such as telephone, mail, andface-to-face (quantitative) and observationstudies and focus groups (qualitative)
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The Business Research ProcessStep Seven: Design Data Collection Forms
The design of the data co l lect ion form that isused to ask and record information in bus iness
research pro jects is cr i t ical to the success o f the
project .
Questionnaires/ Interview Schedule/ InterviewGuide
Observation (Participant or nonparticipant)
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The Business Research ProcessStep Eight: Determine Sample Plan and Size
Sample plan:refers to the process used to selectunits from the population to be included in thesample
Sample size: refers to determining how manyelements of the population should be included inthe sample
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The Business Research ProcessStep Nine: Collect Data
Data col lect ion is very importantbecause, regardless of the data
analys is methods used, data analys is
cannotfixbad data.
Nonsampl ing errors may occur du r ingdata col lect ion .
Did I
collect
reliable
data?
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The Business Research ProcessStep Ten: Analyze Data
Data analysis: involves entering data intocomputer files, inspecting data for errors, andrunning tabulations and various statistical tests
Data cleaning:process by which raw data arechecked to verify that the data have beencorrectly inputted from the data collection form tothe computer software program
The Business Research Process
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The Business Research ProcessStep Eleven: Prepare and Present the Final Research
Report
The last s tep is one of the most important phasesof business research.
Its im po rtance cannot be overstated because i t isthe report, or i ts presentat ion, that properly
commun icates the resul ts to the cl ient .