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Business Research Methods:
An Introduction

Business Research Methods: An Introduction 1

 Learning Objectives

Upon completion of this chapter, you will be able

to:

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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: An Introduction 2

 Introduction

Business researchers systematically collect,

compile, analyze, and interpret data to

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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: An Introduction 3

 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: An Introduction 4

 Defining Business Research

Business research method is a systematic and

scientific procedure of data collection,

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compilation, analysis, interpretation, and
implication pertaining to any business problem.
Business research is defined as the systematic and
objective process of gathering, recording, and
analyzing 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: An Introduction 5

Roadmap to Learn Business
Research Methods

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Business Research Methods: An Introduction 6
 Business Research Methods:
A Decision Making Tool in the
Hands of Management

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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: An Introduction 7

 1. Problem or Opportunity Identification

Any delay in problem identification and solution

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implementation; and the opportunity identification
and encashment may become harmful to the
organization.

Business Research Methods: An Introduction 8

2. Diagnosing the Problem or Opportunity

Organizations present these problems or

opportunity scenarios to business researchers.

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Business researchers actually diagnose the problem
or opportunity.
Diagnosing involves exploring the situation to have
a better insight about the situation.

Business Research Methods: An Introduction 9

 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: An Introduction 10

 4. Implement Presented Solution

Business researchers conduct research in

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consultation with the decision makers of the
concerned organization. The findings are presented
to the decision maker and he or she analyzes these
findings in the light of his or her decision range.

Business Research Methods: An Introduction 11

 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: An Introduction 12

 Use of Software in Data
Preparation and Analysis

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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: An Introduction 13

 Use of Software in Data
Preparation and Analysis

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..\Excel 2007.xlsx
..\SPPS 17.sav
..\Minitab 15.MPJ

Business Research Methods: An Introduction 14