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Chapter 1
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Business Research Methods:
An Introduction
Business Research Methods
Naval Bajpai
Learning Objectives
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Upon completion of this chapter, you will be able
to:
Understand the difference between basic and
applied research
Define business research
Understand the roadmap to learn business
research methods
Learn how business research methods can be
used as a decision making tool by the managers
Understand the business research process
Get a preliminary idea about the use of software
for data preparation and data analysis
Business Research Methods
Naval Bajpai
INTRODUCTION
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Business researchers systematically
collect, compile, analyze, and
interpret data to provide quality
information based on which a decision
maker will be able to take a decision in an
optimum manner.
Conducting research to deal with any
problem is a scientific, systematic, and
interlinked exercise, which requires
sound experience and knowledge.
Business Research Methods
Naval Bajpai
DIFFERENCE BETWEEN BASIC AND
APPLIED RESEARCH
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Basic research is generally not
related to a specific problem and
its findings cannot be immediately
applied.
Applied research directly
addresses the problem at hand.
Applied research is launched by the
firm, agency, or individual facing a
specific problem.
Business Research Methods
Naval Bajpai
DEFINING BUSINESS RESEARCH
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Business research method is a systematic
and scientific procedure of data collection,
compilation, analysis, interpretation, and
implication pertaining to any business problem.
Business research is defined as the systematic
and objective process of gathering, recording,
and analysing data for aid in making business
decisions (Zikmund, 2007).
Cooper and Schindler (2009) define business
research as a systematic enquiry that provides
information to guide managerial decisions.
Business Research Methods
Naval Bajpai
ROADMAP TO LEARN BUSINESS
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RESEARCH METHODS
..\Roadmap to learn business research
methods.docx
Business Research Methods
Naval Bajpai
BUSINESS RESEARCH METHODS: A DECISION
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MAKING TOOL IN THE HANDS OF MANAGEMENT
Decision making is always a crucial part of
any organizational functioning.
In the field of business research, this valuable
information is obtained using the following
interrelated steps:
1. Problem or opportunity identification
2. Diagnosing the problem or opportunity
3. Executing business research to explore the
solutions
4. Implement presented solutions
5. Evaluate the effectiveness of decision making
Business Research Methods
Naval Bajpai
(1)Problem or Opportunity Identification
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Any delay in the problem identification
and solution implementation; and the
opportunity identification and
encashment may become harmful to
the organization.
Business Research Methods
Naval Bajpai
(2) Diagnosing the Problem or Opportunity
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Organizations present these problems
or opportunity scenarios to the
business researchers.
Business researchers actually diagnose
the problem or opportunity.
Diagnosing involves exploring the
situation to have a better insight about
the situation.
Business Research Methods
Naval Bajpai
(3)Executing Business Research to Explore
the Solution
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After the identification and diagnosis of
the problem, business researchers
systematically conduct research to
present a solution.
Business Research Methods
Naval Bajpai
(4)Implement Presented Solution
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Business researchers conduct research
in consultation with the decision
makers of the concerned organization.
The findings are presented to the
decision maker and he or she analyses
these findings in the light of his or her
decision range.
Business Research Methods
Naval Bajpai
(5)Evaluate the Effectiveness of
Decision Making
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After taking a decision, its
effectiveness is examined. This is
sometimes referred to as evaluation
research.
Business Research Methods
Naval Bajpai
USE OF SOFTWARE IN DATA PREPARATION
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AND ANALYSIS
Nowadays, it is irrational to deal with
data preparation and analysis without
the use of existing statistical software.
This section focuses on introducing
three widely used software programs.
They are MS Excel (2007), Minitab®,
and SPSS (17).
Business Research Methods
Naval Bajpai
USE OF SOFTWARE IN DATA PREPARATION
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AND ANALYSIS
..\Excel 2007.xlsx
..\SPPS 17.sav
..\Minitab 15.MPJ
Business Research Methods
Naval Bajpai
