Research Business research is the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions. Basic (pure) research - research that intends to expand boundaries of knowledge itself or to verify the acceptability of a given theory. Applied research – research undertaken to answer questions about specific problems or to make decisions about a particular course of action or policy decision.
Research Business research is the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions. Basic (pure) research - research that intends to expand boundaries of knowledge itself or to verify the acceptability of a given theory. Applied research – research undertaken to answer questions about specific problems or to make decisions about a particular course of action or policy decision.
Research Business research is the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions. Basic (pure) research - research that intends to expand boundaries of knowledge itself or to verify the acceptability of a given theory. Applied research – research undertaken to answer questions about specific problems or to make decisions about a particular course of action or policy decision.
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Objectives • What is research and business research? • Why is it necessary? • Types of business research • Major Topics for research in business • Business research in 21st century
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• Research • Business research • Business research is the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions
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Types of Research • Basic (pure) research – research that intends to expand boundaries of knowledge itself or to verify the acceptability of a given theory
• Applied research – research undertaken to
answer questions about specific problems or to make decisions about a particular course of action or policy decision
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Exercise • Identify as basic or applied research
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• Scientific method – techniques or procedures used to analyze empirical evidence in an attempt to confirm or disprove prior conceptions
• Evaluation research – The formal objective
measurement and appraisal of the extent to which a given activity, project, or program has achieved its objectives
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Why is business research needed? Two courses of action
• Research to be employed or not depends on:
1) Time constraints 2) Availability of data 3) Nature of decision – strategic or tactical decision 4) Benefits vs. Cost
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Critical Questions to be asked while checking feasibility of research • Will payoff or rate of return be worth the investment? • Will information gained by business research improve quality of decision and justify the cost of research? • Is the proposed research expenditure the best use of available funds?
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Major topics for research in business • Sales and marketing research – - Market potentials - Market share - Market segmentation - Sales analysis - Distribution channels - New product concepts
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Major topics for research in business - Test markets - Advertising research - Buyer behavior - Customer satisfaction - Website visitation rates
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PDF created with pdfFactory Pro trial version www.pdffactory.com PDF created with pdfFactory Pro trial version www.pdffactory.com • Finance & Accounting research - Forecasts of financial interest rates trends - Stock, bond, and commodity value predictions - Mergers and acquisitions - Expected rate of return - Credit risk - Cost analysis
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• Corporate Responsibility Research - Ecological impact - Sex, age, and racial discrimination - Social values and ethics
• Information Systems and Research
- Database analysis - Datamining - ERP systems - CRM systems
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• Management and organizational behavior research - Morale and job satisfaction - Employee productivity - Structural issues
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Who conducts business research?
Internal Research Department
External • Business research firms
• Communication agencies Research • Consultants Suppliers • Trade associations
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Business research in 21st century • Global in nature • Internet usage
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What is Good Research? Exercise • Research problem is clearly defined • Research process detailed Research proposal • High ethical standards applied No plagiarism • Limitations frankly revealed
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What is Good Research? • Adequate analysis for decision-makers • Findings presented unambiguously • Conclusions justified Decision-based conclusions are matched with detailed findings • Researcher’s experience reflected Researcher provides experience / credentials with report
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