CHAPTER-1-BUSINESS-RESEARCH-1

Chapter 1 Overview

  • Learning Outcomes

    • Define Business Research

    • Understand qualitative vs. quantitative research

    • Differentiate basic from applied research

    • Identify kinds of Business Research

    • Determine criteria for good business research

    • Distinguish different formats of business research

What is Business Research?

  • Business Research is scientific research aimed at solving concerns of a firm/industry.

  • Addresses various functional business areas:

    • Human resource

    • Marketing

    • Finance

    • Operations Management

  • Analyzes perceptions, preferences, and behaviors of customers and stakeholders.

  • Results are used for decision-making.

  • Types of Business Research:

    • Contracted Business Research: Results for particular company's use.

    • Institutional Business Research: General application and appreciation in academia and industry.

Business Research Types

Quantitative Research

  • Utilizes survey questionnaires for primary data collection (e.g., perceptions and preferences).

Qualitative Research

  • Collects data through observation or depth interviews (e.g., opinions and ideas).

Combining Research Methods

  • Triangulation: Validates qualitative results with quantitative data.

    • Example: Evaluate HR practices using both surveys (employees) and interviews (HR practitioners).

    • Requires multiple levels of analysis.

Basic vs. Applied Research

  • Basic Research:

    • Follows strict APA guidelines.

    • Results can be generalized.

    • Generally quantitative.

  • Applied Research:

    • More flexible; client-oriented.

    • Focused on solving specific issues; findings not generalized.

    • Generally qualitative.

Kinds of Business Research

Conclusive Research (Quantitative)

  • Assists managers in decision-making based on research information.

  • Utilizes:

    • Descriptive Research

    • Correlational Research

    • Causal Research

Descriptive Research

  • Addresses the problem or phenomenon.

  • Answers questions: who, what, when, where, why, and how.

  • Results presented via statistics.

Correlational Research

  • Measures relationships among variables statistically.

  • Uses statistical techniques (e.g., t-tests, ANOVA).

Causal Research

  • Hypothesizes cause and effect relationships.

  • Involves complex variable interactions.

Exploratory Research (Qualitative)

  • Seeks detailed information about problems or issues.

  • Methods: depth interviews, focus groups, ethnography.

Depth Interviews

  • Conduct detailed interviews with informed respondents.

  • Interviews are recorded, transcribed, and analyzed.

Focus Group Discussion (FGD)

  • Asks for participant ideas about a topic.

  • Groups consist of 10-12 individuals.

Ethnographic Research

  • Involves direct observation of subjects.

  • Requires ethical considerations regarding subjects’ awareness.

Business Case Analysis

  • Studying a specific company or group through interviews and literature.

  • Intended for classroom discussions.

  • Cannot be generalized; specific to the company studied.

Criteria for Good Business Research

  • Must advance knowledge in business and management.

  • For qualitative research, interpretations should be made by experts.

  • Ethical and scientifically sound research practices are essential.

Formats of Business Research

Traditional Format (Format A)

  1. Title Page

  2. Abstract

  3. Acknowledgments

  4. Chapters:

    • Chapter 1: Introduction

      • Background, Theoretical Framework, Statement of Problem, Hypothesis, etc.

    • Chapter 2: Review of Related Literature

    • Chapter 3: Research Methodology

    • Chapter 4: Presentation and Analysis of Data

    • Chapter 5: Conclusions and Recommendations

  5. Bibliography

  6. Appendices

APA Format (Format B)

  1. Title Page

  2. Abstract

  3. Chapter 1: The Problem & Review of Literature

  4. Chapter 2: Research Methodology

  5. Chapter 3: Results & Discussions

  6. Chapter 4: Summary of Findings, Conclusions, and Recommendations

  7. References

  8. Appendices

Other Research Formats

Market Study

  • No standard format: includes Executive Summary, Objectives, Socioeconomic Profile, etc.

Feasibility Study

  • Title, Executive Summary, market analysis, financials, etc.

Understanding Business Research

  • Important to define research methods (specific activities) vs. research methodology (strategy and understanding).

  • Valid, fair questions are essential for effective data collection and analysis.

Special Aspects of Business Research

  • Multi-disciplinary; draws on fields like psychology, sociology, economics, etc.

  • Aims for practical outcomes while often needing theoretical context.

Modes of Knowledge in Business Research

  1. Mode 1 Knowledge: Academic knowledge intended for further understanding.

  2. Mode 2 Knowledge: Practical knowledge generated through collaboration.

  3. Mode 3 Knowledge: Understanding broader societal impacts.

Key Issues in Business Research

  • Formulating topics and conducting critical literature reviews are essential but challenging aspects.

  • Researcher biases must be acknowledged.

Qualitative vs. Quantitative Approaches

  • Deductive Approach: Begins with theory, tests hypotheses.

  • Inductive Approach: Generates theory from data collection.

  • Positivist vs. Interpretivist: Objective empirical testing vs. subjective interpretations.

  • Objectivist vs. Constructivist: The organization’s existence independent of people vs. no independent reality of social entities.

Learning Activities

  1. Write responses regarding business research’s usefulness, scientific nature, and criteria of good research.

  2. Analyze a published business research document.

Conclusion

  • Thank you for participating in the class.