1. Research methodology

2. reason for conducting research-to develop and evaluate concepts and theories
Basic/pure research-attempts to expand the limits of knowledge
Basic research-to verify the acceptability of a given theory/ to discover more about a certain concept

3. Applied research- studies undertaken to answer questions about specific problems/ to make decisions about a particular course of action/policy
Procedures and techniques utilised by both applied and basic research - scientific methods
Scientific methods-techniques and procedures that help the researcher to know and

4. Understand business phenomena
Scientific method- requires systematic analysis and logical interpretation of empirical evidence to confirm/ disprove prior conceptions
Scientific method in basic research – testing prior conceptions / hypothesis- making inferences and conclusions about the phenomena-

5. Establishment of general laws about the phenomena
Scientific method in applied research – assures objectivity in gathering facts and testing creative ideas for alternative business strategies

6. Managerial value of business research
Reduces uncertainty by providing information-improves decision making
Decision making process associated with the development and implementation of a strategy involves four interrelated stages:

7. -identifying problems/ opportunities
- diagnosing and assessing problems/ opportunities
-selecting and implementing a course of action
- evaluating the course of action

8. Identifying problems/opportunities
business research- help mangers plan strategies by:
-determine the nature of the situation
- identifying the existence of problems
- identifying opportunities present in the organisation

9. Diagnosing and assessing problems/ opportunities
Managers need to gain insight about the underlying facts causing the situation
Problem- need to specify what happened and why
Opportunity-need to explore, clarify and refine the nature of the opportunity
Multiple opportunities-research may be conducted to set priorities

10. selecting and implementing a course of action
Business research conducted to obtain specific information -aid in evaluating the alternatives-selecting the best course of action
Evaluated through the use of various performance criteria

11. Evaluating the course of action
Business research serve as a tool- whether planned activities were properly executed-whether they accomplished what they were expected to accomplish
Evaluation research- formal, objective measurement and appraisal of the extent to which a given activity, project or program has achieved its objectives, measuring the extent

12. to which completed programs achieved their objectives /whether continuing programs are presently performing as projected
Performance – monitoring research- specific type of evaluation research that regularly provides feedback for the evaluation and control of recurring business activity- integral aspect of TQM

13. TQM- stresses continuous improvement of product quality and service

14. Need of business research
Time constraint
Availability of data- lack adequate information- research must be considered
Nature of decision
Benefit versus costs