1. INTRODUCTION TO BUSINESS RESEARCH
CHAPTER-1
INTRODUCTION TO
BUSINESS RESEARCH

2. What is research?
Management research is an unbiased, structured, and sequential method of enquiry, directed towards a clear implicit or explicit business objective. This enquiry might lead to validating existing postulates or arriving at new theories and models.

3. Types of research

4. Types of research
Basic research : the basic premise is the need to KNOW and the concern is primarily academic in nature.
Applied research: Solution or action oriented research, that is contextual and practical in approach.

5. Types of research
Exploratory research is loosely structured and the basic premise is to provide direction to subsequent, more structured method of enquiry.
Conclusive research is structured and definite in orientation. These studies are usually conducted to validate formulated hypotheses and specified relationships.

6. Exploratory vs. Conclusive Research

7. Conclusive research
Descriptive research: The main goal of this type of research is to describe the data and characteristics about what is being studied.
Causal research: Explores the effect of one or more variables on other variable(s), with reasonable level of certainty by controlling the impact of other influencing variables.

8. The research process The management decision problem
Defining the research problem
Formulation of the working hypotheses
Construction of the research proposal

9. The research process Formulating the research design
Sampling considerations
Collecting the data for the study
Data analysis and interpretation of findings

10. Research applications in marketing
Market & consumer analysis
Product research
Pricing research
Promotional research
Place research

11. Research applications in finance
Asset pricing, capital markets and corporate finance
Financial derivatives and credit risk modeling research
Market-based accounting research
Auditing and accountability
Other areas: financial forecasting, behavioural finance, volatility analysis

12. Research applications in human resources
Training & development studies
Selection and staffing studies
Performance appraisal–design and evaluation
Organization planning and development
Incentive and benefits studies
Emerging areas–critical factor analysis, employer branding studies

13. Research applications in production & operations management
Operation planning and design
Demand forecasting and demand estimation
Process planning
Project management and maintenance effectiveness studies
Logistics and supply chain-design and evaluation
Quality estimations and assurance studies

14. CHARACTERSTICS OF GOOD RESEARCH
MUST have: a clearly stated research purpose/ objective
MUST have: a sequential plan of execution
MUST have: a logical and explicitly stated justification for the selected methods
MUST have: an unbiased and neutral method of conduct and reporting
MUST have: complete transparency and ethical conduction of the research process
MUST have: provision for being reliable & replicable