1. Research Methods for Business Studies
Week 1

2. How This Course Will Be Conducted
Introduction to Research Methodology (Business Research Methods)
Knowledge acquisition and application of subject matter to real-life situations
Use of multimedia visual aids (MS PowerPoint slides)
SPSS application
Encouragement of questions, comments and constructive criticism from course participants
Analytical and critical thinking, inquisitiveness as well as common sense from course participants also expected

3. The DO‘s and DONT‘s Catalogue for Course Participants
listen attentively
be considerate and amenable
be inquisitive, analytical and critical in your approach to learning research methodology
mention if you do not understand something and seek clarification
read the prescribed course literature. It is the basic requirement for comprehending research methodology and succeeding in this course
start reading from the beginning of the course and not towards the end!
be late to class. We start at 6 PM PM sharp!
distract the attention of other course participants
use mobile phones or send SMS messages in the class
follow a rote-learning approach. There is zero tolerance for this in all classes taught at CIIT!
feel afraid to bring up any relevant point for discussion
hesitate to visit me at my office, individually or as a group, if you have a course-related problem and seek counseling in this regard

4. Fundamental Course Objectives
To acquaint course participants with all salient aspects of research methodology in accordance with the current body of scientific literature on this challenging, interesting and indepensible area of management science
To show that the subject of research methodology has matured into a substantive body of knowledge, an indepth understanding of which is crucial for ensuring the success of commercial or non-commercial organizations
To show and encourage the course participants that the theoretical knowledge acquired in this course can - with the appropriate context-related modifications - be applied to numerous real-life situations in business, public-sector and non-profit enterprises
To stimulate interest in the business research field as a prospective career field

5. Demands on Course Participants
The essence of knowledge is having it to apply it - Confucius
Acquisition and careful application of knowledge
Analytical and critical thinking, innovation, inquisitiveness
Holistic perspective
Quizzes & (proof that the course participant is familar with the essentials
Sessionals of research methodology)
Examination

6. Important Information for Course Participants – (1)
You MUST read the course literature from the beginning of the semester. Relying on the PowerPoint slides is NOT sufficient! The purpose of these slides is to provide you with a broad and general introduction to research methodology. Kindly note that the slides are intended as a supplement to, and NOT as a substitute for the prescribed course literature
The prescribed course literature will be used as a reference for the quizzes, sessionals and final examination. Failure to read and understand the course literature could mean that a course participant will fail the course! An automatic passing grade in this course is NOT guaranteed, rather, a course participant‘s marks will reflect his or her effort and performance in the subject

7. Important Information for Course Participants – (2)
Plagiarism will NOT be tolerated! If caught, zero marks will be given
The course lectures, discussions etc. will be conducted exclusively in english!

8. What is Business Research?
Business Research may be defined as the “systematic and objective process of gathering, recording and analyzing data for aid in making business decisions” (Zikmund, Business Research Methods, 2002, p. 6)
Systematicness and Objectivity are its distinguishing features of Business Research, which is important tool for managers and decision-makers in corporate and non-corporate organizations

9. When is Business Research Used?
Typically, business research methods are used in situations of uncertainty, that is, when decision-makers face two or more courses of action and seek to select the best possible alternative under the circumstances. Business Research is hence aimed at improving the quality of decision-making which, in turn, benefits the organization and helps ensure its continuity and efficiency

10. Typical Users of Business Research Methods
Businesses and Corporations
Public-Sector Agencies
Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants

11. Common Business Research Methods & Techniques
Surveys
Interviews
Observation
Experiments
Archival and Historical Data
Qualitative Analysis
Quantitative Analysis

12. Fields Where Business Research is Often Used – (1)
General Business Conditions and
Corporate Research
Short- & Long-Range Forecasting,
Business and Industry Trends
Global Environments
Inflation and Pricing
Plant and Warehouse Location
Acquisitions
Financial and Accounting Research
Forecasts of financial interest rate trends,
Stock,bond and commodity value predictions
capital formation alternatives
mergers and acquisitions
risk-return trade-offs
portfolio analysis
impact of taxes
research on financial institutions
expected rate of return
capital asset pricing models
credit risk
cost analysis
Management and Organizational
Behaviour Research
Total Quality Management
Morale and Job Satisfaction
Leadership Style
Employee Productivity
Organizational Effectiveness
Structural ssues
Absenteeism and turnover
Organizational Climate

13. Fields Where Business Research is Often Used – (2)
Sales and Marketing Research
Market Potentials
Market Share
Market segmentation
Market characteristics
Sales Analysis
Establishment of sales quotas
Distribution channels
New product concepts
Test markets
Advertising research
Buyer behaviour
Customer satisfaction
Website visitation rates
Information Systems Research
Knowledge and information needs assessment
Computer information system use and evaluation
Technical suppot satisfaction
Database analysis
Data mining
Enterprise resource planning systems
Customer relationship management systems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and promotion
Sex, age and racial discrimination / worker equity
Social values and ethics

14. Basic and Applied Research
Basic Research aims to expand the frontiers of science and knowledge by verifying or disproving the acceptability of a given theory or attempting to discover more about a certain concept (non-specificity)
Example: How does motivation affect employee performance?
Applied Research focusses on a real-life problem or situation with a view to helping reach a decision how to deal with it (Specificity)
Example: Should Corporation X adopt a paperless office environment?

15. Science and the Scientific Method
Science has been defined as “the methodological and systematic approach to acquisition of new knowledge” (Geoffrey Marcyzk, David DeMatteo, David Festinger, Essentials of Research Design and Methodology, John Wiley & Sons, 2005, p. 4)
The scientific method, which has evolved since the 13th century, concerns the set of tools, techniques and procedures used by basic and applied researchers to analyze and understand phenomena and prove or disprove prior conceptions

16. The Essence of the Scientific Method
Characteristics of the Scientific Method
Objectivity
Systematic Analysis
Logical Interpretation of Results
Elements of the
Scientific Method
Empirical Approach
Observations
Questions
Hypotheses
Experiments
Analysis
Conclusion
Replication
General Laws
Basic
Research
Scientific
Method
Applied
Research
Information or
Ideas for alternative
Courses of action

17. The Value of Business Research for Managers – (1)
Reduction of uncertainty and improvement in the quality of decision-making with several consequent advantages (e.g. strategic, operational) and benefits for organizations
Business Research Methods can be employed in each of the following four stages:
Identification of problems and/or opportunities
Useful for strategy planning, analysis of internal and external organizational environment

18. The Value of Business Research for Managers – (2)
(2) Diagnosing and Assessment of problems and/or opportunities
Its purpose is to gain insight into the underlying reasons and causes for the situation. If there is a problem, it asks what happened and why? If there is an opportunity, it seeks to explore, clarify and refine the nature of the opportunity and, in the case of multiple opportunities, seeks to set priorities
(3) Selection and Implementation of Courses of Action
After alternative courses of action have been determined, selection of the best possible course.

19. The Value of Business Research for Managers – (3)
An important consideration is the quality of forecasting which is an essential tool of research
(4) Evaluating the Course of Action
Business Research Methods are used after a course of action has been implemented in order to determine whether activities have been properly implemented and have accomplished what they intended to do

20. The Value of Business Research for Managers – (4)
Evaluation Research – It is the formal objective measurement and evaluation of the extent which an activity, project or programme has achieved its goal, and the factors which influence performance (e.g. audits). It is also the formal objective measurement and evaluation of the extent to which on-going activities, projects or programmes are meeting their goals (performance-monitoring research)
Examples of performance-monitoring research:
Are railway passengers satisfied with the level of service the railway company is providing? If not, then research may need to be undertaken to ascertain the reasons for customer dissatisfaction and propose corrective measures

21. The Value of Business Research for Managers – (5)
What are the trends in retail and wholesale sector? Can research suggest new ways to improve efficiency in purchase transactions?

22. When Should Business Research be Undertaken?
Is sufficient time
available? NO
Yes
Is information
inadequate?
Do not
undertake Business Research
Yes
High importance
of decision?
Yes
Research benefits
greater than costs?
Undertake Business Research

23. Value and Costs of Undertaking Business Research
Decreased Uncertainty
Higher Likelihood of Correct Decisions
Better Business performance
Higher Profits
Better Reputation
Research Costs
Delay in Making Business Decisions
Disclosure of Information to Rivals
Possibility of Error

24. The Building Blocks of Research
KNOWLEDGE
Blend of information, experience and in-sights that
provides a framework that can be thoughtfully evaluated
when assessing new information or evaluating
relevant situations
Determination of relationship amongst data with a
view to facilitating understanding of the phenomena,
their relationships and decision-making
(e.g. past and predicted future sales trends)
INFORMATION
Measurements of phenomena
(e.g. sales statistics of a department store)
DATA

25. Demands on Data & Information
Relevance to the problem or situation at hand
Must be available in a timely manner to the right person (manager or decision-maker)
Completeness
Accuracy
Accessibility
Affordability
Integrateability into a broader global information or decision-support system

26. Databases & Software
Databases are collections of raw data which have been arranged in a logical manner and which can be stored and processed electronically
Software are programmes that allow complex operations to be undertaken on data and which give information for managers and decision-makers
Data Warehousing & Data Mining