RESEARCH METHODOLGY IN BUSINESS

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RESEARCH METHODOLGY IN BUSINESS
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INTRODUCTION
What is Business Research? It is a systematic
inquiry that provides information to guide
managerial decisions. It is a process of
planning, acquiring, analyzing and disseminating
relevant data and information and insights to
decision makers in ways that mobilize the
organization to take appropriate actions that, in
turn, maximize business performance.
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INTRODUCTION

• Planning Drives Business Research
• Goals Decision on goals
• Decision Support System Need to complete one or
  many exchanges (numerous elements of data,
  organized for retrieval)
• Business Intelligence System is designed to
  provide the manager with ongoing information
  about events trends.
• Strategy the general approach an organization
  will follow to achieve its goal.
• Tactics Specific timed activities that execute
  a strategy.

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INTRODUCTION

• Purpose of Business Research
• To identify and define opportunities and
  problems.
• To define, monitor, and refine strategies
• To define, monitor, and refine tactics

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TYPES OF RESEARCHERS

• Custom Designed Research/Full-service research
  Crafts a research design unique to the decision
  makers dilemma.
• Proprietary Methodology Researchers A research
  program owned by a single firm. It may be a
  slight twist on an established methodology or may
  be developed by that firm.
• Specialty Research Firms represent the largest
  number of research firms and tend to dominate the
  small research firms operated by a single
  researcher or very small staff. These firms may
  establish a specialty in one or several arenas
• Process
• Industry
• Participant group
• Geographic Region

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TYPES OF RESEARCHERS

• Syndicated Data Providers Tracks the change of
  one or more measures over time, usually in a
  given industry.
• Omnibus Researchers An omnibus researcher
  fields research studies, often by survey, at
  regular, predetermined intervals. An omnibus
  study combines one or a few questions from
  several decision makers who need information from
  the same population.

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Research Report Components

• Prefatory Items
• Introduction
• Methodology
• Findings
• Conclusions
• Bibliography

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Prefatory Items

• Letter of Transmittal
• Title Page
• Authorization Letter
• Executive Summary
• Table of Contents

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Introduction

• Problem Statement
• Research Objectives
• Background

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Methodology

• Sampling Design
• Research Design
• Data Collection
• Data Analysis

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• RESEARCH DESIGN

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THE RESEARCH PROCESS

• Define the problem
• Define the research objective
• Choose data sources
• Choose research methods
• Construct sample
• Set budget and deadlines
• Undertake research
• Analysis and evaluation

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THE RESEARCH DESIGN
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EXPLORATORY RESEARCH

• OBJECTIVE DISCOVER IDEAS INSIGHTS
• CHARACTERISTICS FLEXIBLE, VERSATILE
• METHODS
• EXPERT SURVEYS
• PILOT SURVEYS
• SECONDARY DATA (Qualitatively analyzed)
• QUALITATIVE RESEARCH

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SECONDARY DATA (Qualitatively analyzed

• PRIMARY DATA Data originated by a researcher
  for the specific purpose of addressing the
  research problem.
• Included among primary sources are interviews,
  speeches etc
• SECONDARY DATA Data collected for some purpose
  other than the problem at hand.
• Included among secondary data are reports
  available in the libraries/ internet, magazines,
  newspapers etc.

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ADVANTAGES OF SECONDARY DATA

• Easily Accessible
• Relatively Inexpensive
• Quickly Obtained
• Better define the problem
• Formulate an appropriate research design
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  

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DISADVANTAGES OF SECONDARY DATA

• Usefulness to the current problem may be limited
• Irrelevant
• Inaccurate

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Classification of Secondary data

• Internal Data
• Ready to Use
• Requires further processing
• External Data
• Published Materials
• Computerized Database
• Syndicated Services

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Qualitative Research Procedures
Direct
Indirect
Projective Techniques
Focus Group
Depth Interviews
Association Techniques
Completion Techniques
Expressive Techniques
Construction Techniques
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FOCUS GROUP INTERVIEWS

• Unstructured
• Free Flowing
• Group Interview
• Start with Broad Topic and focus in on Specific
  issues

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SELECTING SAMPLE FOR FOCUS GROUP

• Number varies between 6 12 people
• Relatively Homogeneous
• Individuals preferably should not know each other
• Moderators
• Develops Rapport - Makes People Relax
• Interacts
• Listens to What People Have to Say
• Everyone Gets a Chance to Speak

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• Advantages
• Economical
• Quicker
• Results in New Ideas usually
• Disadvantages
• Moderators need to be well trained
• Results may be influenced by the moderators
• Dominant personalities may take over group

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DEPTH INTERVIEWS

• Characteristics Unstructured
• Direct
• Personal Interview
• Techniques Laddering
• Hidden Issues
• Symbolic Analysis

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• Advantages
• Brings out Information clearly
• Flexibility
• Disadvantages
• Interviewer Bias
• Longer Time Involved
• Costs Involved
• Difficulty in Interpretation

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PROJECTIVE TECHNIQUES

• Characteristics Unstructured
• Indirect form of Questioning

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DEGREE OF PROBLEM DEFINITION

• Exploratory Research Conclusive Research
• (Unaware of Problem) (Aware of Problem)

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Vague Problem
Exploratory Research
Hypothesis
Conclusive Research
Decision
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CONCLUSIVE RESEARCH

• OBJECTIVE EVALUATING ANS SELECTING BEST COURSE
  OF ACTION
• CHARACTERISTICS FORMAL AND STRUCTURED
• INFORMATION NEEDED IS CLEARLY DEFINED
• SAMPLE IS LARGE

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DESCRIPTIVE RESEARCH

• OBJECTIVE DESCRIBE MARKET CHARACTERISTICS OR
  FUNCTIONS
• CHARACTERISTICS PREPLANNED STRUCTURED DESIGNS
• LARGE SAMPLE SIZE
• METHODS
• SURVEYS
• OBSERVATIONAL

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SURVEY METHODS

• Telephonic Interviewing
• Personal Interviewing
• Mail Interviewing
• Electronic Interviewing

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OBSERVATION METHODS

• Structured Unstructured Observation
• Disguised Undisguised Observation
• Natural Contrived Observation

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CROSS SECTIONAL DESIGN

• INCLUDES
• SINGLE CROSS SECTIONAL DESIGN
• MULTIPLE CROSS SECTIONAL DESIGN

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LONGITUDINAL DESIGN

• FIXED SAMPLE OF POPULATION ELEMENTSMEASURED
  REPEATEDLY ON THE SAME VARIABLES

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CAUSAL RESEARCH

• OBJECTIVE TO OBTAIN EVIDENCE REGARDING
  CAUSE - EFFECT RELATIONSHIP
• CHARACTERSTICS PLANNED STRUCTURED DESIGN

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• ATTITUDE MEASUREMENT

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PRIMARY SCALES OF MEASUREMENT

• Nominal Scale
• Ordinal Scale
• Interval Scale
• Ratio Scale

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SCALING

• THE GENERATION OF A CONTINUM UPON WHICH MEASURED
  OBJECTS ARE LOCATED

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SCALING TECHNIQUES
NON COMPARATIVE SCALES
COMPARATIVE SCALE
CONTINOUS RATING SCALE
ITEMIZED RATING SCALE
PAIRED COMPARISON
CONSTANT SUM
LIKERT
RANK ORDER
Q - SORT
SEMANTIC DIFFERENTIAL
STAPEL
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• SAMPLING TECHNIQUES

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SAMPLE

• A SUBGROUP OF THE ELEMENT OF THE POPULATION
  SECLECTED FOR PARTICIPATION IN THE STUDY

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SAMPLING TECHNIQUES
NON - PROBABILITY
PROBABILITY
SIMPLE RANDOM SAMPLING
STRATIFIED SAMPLING
CONVENIENCE SAMPLING
QUOTA SAMPLING
JUDGMENTAL SAMPLING
SYSTEMATIC SAMPLING
SYSTEMATIC SAMPLING
SNOWBALL SAMPLING
CLUSTER SAMPLING
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SAMPLING DESIGN PROCESS

• Define Target Population
• Determine Sampling Frame
• Select a Sampling Techniques
• Determine Sample Size
• Execute the Sampling Process

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QUESTIONNAIRE CONSTRUCTION AND DATA COLLECTION
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QUESTIONNAIRE DESIGN PROCESS

• Specify the information needed
• Specify the type of interviewing method
• Determine the content of individual questions
• Design the questions to overcome the respondents
  inability unwilling to answer
• Design on question structure
• Determine the question wording
• Arrange the question in proper order
• Identify the form layout
• Reproduce the Questionnaire
• Eliminate bugs by pretesting

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Determine the Content of Individual Questions

• Is the Question necessary
• Are Several Questions needed instead of one

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Overcoming Inability to Answer

• Is the Respondent Informed
• Can the Respondent Remember

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Overcoming Unwillingness to Answer

• Effort Required of the Respondents
• Sensitive Issues
• Legitimate Purpose

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Choosing Question Structure

• Unstructured Questions
• Structured Questions

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Choosing Question Wording

• Define the Issue
• Use Ordinary Words
• Use Unambiguous Words