1. An Overview of Business Research Methods
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2. Unsystematic Decision Making No Pressure for Research
Why BRM?
Monopoly & Shortages
Sellers Markets
Unsystematic Decision Making
No Pressure for Research
Regulated Economy
India of Pre 1991
Indicator: 2-3 Brands of Cars

3. Scientific Decision Making Need for Evidence Based Management
Why BRM?
Intense Competition
Buyers’ Market
Scientific Decision Making
Need for Evidence Based Management
Market Economy
India of 2017
Indicator: Major Global Brands of Cars

4. Major Objectives of the Course
To understand the concept & process of business research in business environment.
To know the use of tools & techniques for exploratory, conclusive & causal research.
To understand the concept of measurement in empirical systems.
To use statistical techniques for analysis of research data.
To formulate & interpret.

5. Intended Learning Outcomes
Exhibit scientific temper in the practice of management & increasingly look for evidence before jumping to conclusions.
Illustrate steps involved in conducting business research & develop research design appropriate in a given situation.
Draft & evaluate business research proposals.

6. 4. Logically develop hypotheses. 5
4. Logically develop hypotheses. 5. Develop simple scales for measurement purposes in business situations. 6. Distinguish among various types of data from analysis & interpretation point of view. 7. Obtain secondary data in different business situations. 8. Design questionnaires suitable for different research contexts. 9. Select a representative sample by using appropriate sampling technique. 10. Tabulate & summarize data. 11. Draw graphs & analyze data using MS Excel. 12. Write simple research report.

7. Conducting & Reading Research
What is Research?
It is an art of scientific investigation
A movement from Known to unknown
A voyage of discovery
Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.
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8. What is business research?
Research provides the needed information that guides managers to make informed decisions to successfully deal with problems.
The information provided could be the result of a careful analysis of data gathered firsthand or of data that are already available (in the company).

9. Why is it important for managers to know about research?
They are consumers of research
Solve problems
Decision making tool
Competition
Risk
Investment
Hire researchers and consultants more effectively

10. What is Good Research? Purpose clearly defined…
Research process detailed…
Research design thoroughly planned…
High ethical standard applied…
Limitations frankly revealed…
Analysis adequate for decision maker’s needs…
Findings presented unambiguously…
Conclusions justified…
Researcher’s experience reflected…

11. Data, Information & Intelligence

12. Data
…are simply facts or recorded measures of certain phenomena (things or events).

13. Information … is data formatted (structured) to support
decision making or define the relationship between two facts.

14. Business intelligence
…is the subset
of data and information that actually has some explanatory power enabling effective managerial decisions
to be made.

15. Products purchased are
recorded by the scanner
forming data.
Inventory systems use the data to create
information.
• The information tells managers what items need to be stocked.
• The information also generates and can even place orders for more products to be trucked to the store.
Analysts analyze the data statistically and write research reports addressing important
questions such as
What types of trends exist in customer
purchases, and are there regional differences?
Where should new stores be located?

16. Decision support system
A decision support system (DSS) is a computer-based information system that supports business or organizational decision-making activities. 
DSSs serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance. Decision support systems can be either fully computerized, human or a combination of both.

17. DSSs include knowledge-based systems
DSSs include knowledge-based systems. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from a combination of raw data, documents, and personal knowledge, or business models to identify and solve problems and make decisions.

18. Decision Support System
Database
Software
Input
Output

19. Conducting & Reading Research
Research Process
Chapter 10
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20. Conducting & Reading Research
Problem Definition
Extensive Literature
Survey
Developing the
Hypothesis
Preparing the
Research Design
Sampling
Data collection
Analysis of data
Hypothesis Testing
Interpretation
Chapter 10
Preparation of Report
Conducting & Reading Research
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21. Conducting & Reading Research
Research Process
Series of actions or steps necessary to effectively carry out research and the desired sequencing of these steps.
Formulating the Research Problem:
Understanding the problem thoroughly, and
Rephrasing the same into meaningful terms from an
analytical point of view.
Studies of broader literature (Conceptual and
empirical)
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22. This stage is important because
The research problem needs to be defined unambiguously.
It helps to collect the relevant data, choice of research methods etc.
B. Extensive Literature Survey:
Abstracting and indexing the journals published or unpublished bibliographies.
Identifying the academic journals, conference proceedings, govt. reports, books etc.
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23. Conducting & Reading Research
C. Development of Working Hypothesis:
Tentative assumptions made in order to draw out and test its logical or empirical consequences.
It is prior thinking about the subject.
D. Preparing the Research Design – Exploration/ Description / Diagnosis / Experimentation.
Research design needs consideration of the following:
The means of obtaining the information
The availability and skills of the researcher
Time available
Cost factor
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24. Conducting & Reading Research
E. Determining the sample size – Probability / Non-probability.
Probability:
Simple Random Sampling
Systematic Sampling
Stratified Sampling
Cluster/Area Sampling
Non-Probability / Deliberate sampling:
Convenience Sampling
Purposive Sampling
Quota Sampling
Snowball Sampling
The main difference between cluster sampling and stratified sampling is that in cluster sampling the cluster is treated as the sampling unit so analysis is done on a population of clusters (at least in the first stage). In stratified sampling, the analysis is done on elements within strata. In stratified sampling, a random sample is drawn from each of the strata, whereas in cluster sampling only the selected clusters are studied.
Quota Sampling: an interviewer may be told to sample 200 females and 300 males between the age of 45 and 60. This means that individuals can put a demand on who they want to sample (targeting)
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25. Conducting & Reading Research
F. Collecting the Data:
Collection of only appropriate data
Primary Data-
By observation, through personal interviews, telephone interviews and by mailing of
questionnaire
Secondary Data:
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26. Conducting & Reading Research
G. Analysis of Data:
1. Computation of statistics viz., mean, median, mode, standard Deviation, coefficient of variation, coefficient of skewness etc.
2. Designing regression equation for estimating dependent variable as a function of a set of independent variables.
3. Performing correlation analysis.
4. Univariate, Bivariate & Multivariate Analysis.
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27. Conducting & Reading Research
H. Hypotheses Testing:
Interpretation of Results:
Validation of Results: The results after interpretation must be validated by using past data. It ensures credibility of the results.
K Report Writing
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