Introduction

Unit - 1
 Learning Content

Business research – Definition and Significance – The Research Process

– Types of Research – Exploratory and Casual Research – Theoretical
and Empirical Research – Cross Sectional and Time series Research –
Research Questions and Problems – Research Objectives – Research
Hypothesis – Characteristics – Research in an Evolutionary Perspective
– The Role of Theory in Research
What do you mean by RESEARCH?

“Re – Search”
Re – repetitive or iterative process

Search – thorough examination

Nature of RESEARCH
• Systematic activity
• Step by Step

• Logical Process
• if Yes, if No

• Iterative Process
• again & again to improve

• Based on Empirical Evidences

• Check for accuracy, experiencing

• Controlled in Nature
• controlling the variables
Objectives of Research

• To
• Explore about unknown

• Describe the features

• Explain a phenomenon

• Predict future activities

• Influence activities
Research Process
• Identifying the Problem

• Reviewing Literature

• Setting Research Questions, objectives &

Hypothesis

• Choosing the study design

• Deciding the sample

• Collecting the data

• Processing and analyzing data

• Writing report
Significance of research
• Recognizes the potential opportunities and threats
• Understanding the environment situations

• Assessment of problems and opportunities

• Solving the problems

• Selection of best alternative action

• Back up strategy

• Evaluating the course of action

• Estimating the execution

• Analyzing the competition

• Look for competitors
What limits RESEARCH?
• Lack of fund • Lack of contacts b/w departments

• No centralized data • No trust on researchers

• No coordination among researchers • Lack of skilled researchers

• Lack of library management • Data manipulations

• Absence of ethics in research • Costly affair

Business Research

Research conducted
“for describing the business problems of
a particular business”
In order to start a business…
Nature of Business Research

• Systematic & organized – following every step

• Objective approach – set purpose

• Applied in nature - derived

• Involves lengthy fact finding exercises – deep analysis

• Problem oriented – attaining information on problem

• Conducted in a dynamic environment – no fluctuated findings

Objectives of Business Research

• To
• Estimate expenses

• Determine prices

• Assist managers in the decision-making process

• Evaluate market trends

• Achieve competitive advantage

Scope of
Business
Research
Significan
ce of
Business
Research
Factors Affecting Business Research

• Reliability and validity of secondary • Resource and time constraints

data
• Usefulness
• Social and cultural factors
• Availability of finance resources
• Availability and sufficient data
• Researcher’s value
• Nature of the research questions
• Knowledge of research tools
• Nature of the research settings
Types of Research

• Pure/Basic/Fundamental Research • Exploratory/Formulative research

• To gain better insight • Studying in depth

• Empirical research • Theoretical research

• Data oriented/observation & • Discovering new with existing datas

experiences • Time-Series research

• Social research • Data collection in time

intervals/unemployment/poverty
• Census of country/literates numbers
• Applied/Practical/Need based/Action based research
• Eradicating practical problems

• Scientific research
• Systematic collection of data to contribute

• Historical research

• Conclusive research
• To get alternatives

• Cross-sectional research
• Bringing new concept comparing existing
Exploratory Research
• investigates research questions that have not previously been studied
in depth.

• is often used when the issue you’re studying is new or when the data
collection process is challenging for some reason.
Question -
Exploratory Research

• What effect does using a

digital notebook have on the
attention span of middle
school students?

• What factors influence mental

health in undergraduates?
Causal Research

• identifies the extent and nature of cause-and-effect relationships

between two or more variables.

• often used by companies to determine the impact of changes in

products, features, or services process on critical company metrics.
Questions – Causal Research

• How does rebranding of a product influence intent to purchase?

• How would expansion to a new market segment affect projected

sales?

• What would be the impact of a price increase or decrease on

customer loyalty?
TOYOTA Innova
Theoretical Research

• A systematic examination of a set of beliefs and assumptions.

• It aims to learn more about a subject and help us understand it

better.

• like biologists, chemists, engineers, architects, philosophers, writers,

sociologists, historians, etc., can do theoretical research.
Benefits of Theoretical Research
• Predictive power

• Understanding human behavior

• Optimizing workforce

• Building on foundations

• Ethical policy formulation

• Rigorous investigations

• Long-term impact

• Innovation and practical applications

Tribal & Excavations
Methods – Theoretical Research
Scientific methods Social science method

• Observation • Polls
• Hypothesis • Documentation
• Experimentation • Statistic analysis
• Theory
• Conclusions
Empirical Research

• any study whose conclusions are exclusively derived from concrete,

verifiable evidence

• a study is empirical when it uses real-world evidence in investigating

its assertions.
Types of Empirical Research
• Qualitative research
• Utilized for gathering non-numerical data.

• Used to determine the underlying reasons, views, or meanings from study participants
or subjects.

• Quantitative research
• Used for gathering information via numerical data.

• Used to measure behavior, personal views, preferences, and other variables.

Quantitative studies are in a more structured format, while the variables used
are predetermined.
Method of Research
Cross-Sectional Research
• a type of observational research

• analyzes data of variables collected at one given point in time across a sample
population or a pre-defined subset.

• Used in
• Retail

• Education

• Healthcare

• Business

• Psychology
Types Benefits

• Descriptive Research • Relatively quick to conduct.

• researchers make focused • Researchers can collect all variables at a point

observations to identify spending in time.

trends • Multiple outcomes can be researched at

once.
• Analytical Research
• Prevalence for all factors can be measured.
• investigates the association between
two related or unrelated parameters • Suitable for descriptive analysis.

• Researchers can use it as a springboard for

further research.
Time-Series Research

• a specific way of analyzing a sequence of data points collected over an

interval of time.

• In time series analysis, analysts record data points at consistent intervals

over a set period of time rather than just recording the data points
intermittently or randomly.

• helps organizations understand the underlying causes of trends or systemic

patterns over time.
Used in reading..

• Weather data • Quarterly sales

• Rainfall measurements • Stock prices

• Temperature readings • Automated stock trading

• Heart rate monitoring (EKG) • Industry forecasts

• Brain monitoring (EEG) • Interest rates

Time Series Analysis Types
• Classification

• Curve fitting

• Descriptive analysis

• Explanative analysis

• Exploratory analysis

• Forecasting

• Intervention analysis

• Segmentation
Research Questions – What it is?

“an inquiry
that the research
attempts to answer”
• A research question is:
• Clear: Understandable

• Focused: so specific

• Succinct: shortest manner

• Complex: requires analysis

• Argumental: open for debate

Research Problems
• A research problem is a statement about
• an area of concern,

• a condition to be improved,

• a difficulty to be eliminated,

• a troubling question that exists in scholarly literature, in theory, or in

practice that points to the need for meaningful understanding and
deliberate investigation.
Sources of Problems

• Person experience • Social issues

• Practical experiences
• Brainstorming
• Critical appraisal of literature
• Intuition
• Previous research
• Folklores
• Existing theories

• Consumer feedback • Exposure to field situations

• Performance improvement activities • Consultations with experts

Research objectives

• Research objectives describe what your research project intends to

accomplish

• Research objectives
• Establish the scope and depth of your project

• Contribute to your research design

• Indicate how your project will contribute to extent research

SMART Research Objectives

• Specific
• Measurable
• Achievable
• Relevant
• Time-based
Research Hypothesis
• Characteristics
• A statement about an expected
• Simple to understand

relationship between variables, • Conceptually clear

• Testability
or explanation of an occurrence, • Relevant to problem
• Power of prediction
that is clear, specific and
• Closest to observable things

testable. • Specific problem

• Relevant to available techniques
• Fruitful for new discoveries
• Consistency
Importance of Hypothesis in
Research
• A research hypothesis helps test theories

• It serves as a great platform for investigation activities.

• Hypothesis guides the research work or study

• Hypothesis sometimes suggests theories.

• It helps in knowing the data needs.

• The hypothesis explains social phenomena.

• Hypothesis provides a relationship between phenomena for empirical Testing

• It helps in knowing the most suitable analysis technique.

Types of Research Hypotheses
• Null Hypothesis - no connection between two considered variables

• Alternative Hypothesis - looking for a change or alternative that could reject the null
hypothesis

• Directional Hypothesis - the direction of the relationship between independent and

dependent variables

• Non-directional Hypothesis - predicts the existence of a relationship between variables

• Simple Hypothesis - predicts a relationship between one dependent variable and one
independent variable
• Complex Hypothesis - an idea that specifies a relationship between multiple
independent and dependent variables

• Associative Hypothesis - proposes a connection between two things without saying

that one causes the other.

• Causal Hypothesis - proposes a cause-and-effect relationship between two variables

• Empirical Hypothesis - a statement based on things we can see and measure

• Statistical Hypothesis - a statement or assumption about a population parameter

that is the subject of an investigation
Research in an Evolutionary
Perspective
Role of theory in research

• Theories are usually used to

• help design a research question,

• guide the selection of relevant data,

• interpret the data,

• and propose explanations of the underlying causes or influences of observed

phenomena.