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    Session1BRM05 01print

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    1) The document provides an overview of business research methods, outlining key concepts such as defining research, classifications of research problems, and the steps of the research process. 2) Research is defined as the systematic identification, collection, analysis, and dissemination of information to improve decision-making. It aims to reduce risk and generate actions to address problems or opportunities. 3) Research problems are classified as either problem identification research, to uncover unknown issues, or problem solving research, to address specific problems. The research process involves defining the problem, developing an approach, designing the research, collecting and analyzing data, and reporting findings.

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    Session1BRM05 01print

    Uploaded by

    mohit9811
    16 views13 pages
    1) The document provides an overview of business research methods, outlining key concepts such as defining research, classifications of research problems, and the steps of the research process. 2) Research is defined as the systematic identification, collection, analysis, and dissemination of information to improve decision-making. It aims to reduce risk and generate actions to address problems or opportunities. 3) Research problems are classified as either problem identification research, to uncover unknown issues, or problem solving research, to address specific problems. The research process involves defining the problem, developing an approach, designing the research, collecting and analyzing data, and reporting findings.

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    Business Research

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    Session1BRM05-01Print

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    1) The document provides an overview of business research methods, outlining key concepts such as defining research, classifications of research problems, and the steps of the research process. 2) Research is defined as the systematic identification, collection, analysis, and dissemination of information to improve decision-making. It aims to reduce risk and generate actions to address problems or opportunities. 3) Research problems are classified as either problem identification research, to uncover unknown issues, or problem solving research, to address specific problems. The research process involves defining the problem, developing an approach, designing the research, collecting and analyzing data, and reporting findings.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    16 views13 pages

    Session1BRM05 01print

    Uploaded by

    mohit9811
    1) The document provides an overview of business research methods, outlining key concepts such as defining research, classifications of research problems, and the steps of the research process. 2) Research is defined as the systematic identification, collection, analysis, and dissemination of information to improve decision-making. It aims to reduce risk and generate actions to address problems or opportunities. 3) Research problems are classified as either problem identification research, to uncover unknown issues, or problem solving research, to address specific problems. The research process involves defining the problem, developing an approach, designing the research, collecting and analyzing data, and reporting findings.

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    Download as pdf or txt
    of 13

    1/20/2023

    Business Research Method

    Session-1

    XLRI- Xavier School of Management, Jamshedpur

    A few words from my side


    • This is a practice-oriented course.
    – Your performance will be dependent on your effort & practice not on your
    inherent intellectual or creative capability.
    • A few words on Textbook/Reading material
    • For any outside class interaction, the preferred mode of communication
    (for appointment) is e-mail.
    • Please adhere to the Class Conduct Guideline.

    1
    1/20/2023

    I don’t know if we
    should change the
    package of Colgate
    toothpaste?

    Research…

    Provides information
    to guide decisions

    2
    1/20/2023

    Research…

    Reduces risk in
    decision making

    Research: Different Terms

    • Business Research Method


    • Social Research Method
    • Market Research
    • Social Science Research

    3
    1/20/2023

    Defining Research…

    • Systematic investigation into and study of materials &


    sources in order to establish facts & reach new conclusions
    (Oxford dictionary).

    • A studious inquiry or examination (Merriam-Webster Online Dictionary).

    • Systematic and objective process of gathering, recording,


    and analyzing data for aid in making business decisions
    (Zikmund, 2007).

    • Systematic enquiry that provides information to guide


    managerial decisions (Cooper & Schindler, 2009).

    Defining Research
    • Research is the systematic & objective
    – Identification (of information)
    – Collection (of information)
    – Analysis (of information)
    – Dissemination (of information) &
    – Use of information

    • … for improving decision making related to…


    – … Identification and Solution of problems & opportunities in
    business

    4
    1/20/2023

    Defining Research

    Used to identify & define


    opportunities and problems

    Generate, refine, & evaluate


    (managerial) actions
    Information

    Monitor performance (of firm or


    any other entity)

    Improve understanding of process

    Summary of pointers about Research


    • Research is all about finding something, absence of which may
    distort our ability to take informed decisions.

    • Ability to take an informed decision is generated through a


    systematic study that is conducted through various interrelated
    stages.

    • All steps of research process are information-centric.

    • All steps in a research are interrelated & no independent activity


    is launched without considering decisions on previous stages.

    10

    5
    1/20/2023

    A Classification of Research

    Research

    Problem Identification Problem Solving


    Research Research

    To help identify problems


    which are not necessarily
    apparent on the surface & yet To help solve specific
    exist or are likely to arise in problems.
    the future

    11

    Research Classification: Discussion


    • Research on
    – Market potential research; Market share research; Market
    characteristics research; Sales analysis research; Forecasting
    research; Business trends research

    • Should McDonalds add Italian pasta dinners to its menu?


    – To assess preference for Italian pasta dinners among TG.

    • Should P&G add a high-priced less-foam based detergent


    powder kit to its product line?
    – To identify/assess customer preference for less-foam based
    detergent powder.

    12

    6
    1/20/2023

    Research Classification: Discussion


    • Why SBI’s market share of educational loan is decreasing in
    recent years and What steps can be done to improve market
    share?
    – To identify factors influencing educational loan buying
    – To assess SBI’s performance on criteria of educational loan purchase
    – To identify methods of improving those parameters.

    13

    Steps of Research Process

    Step 1: Defining the Problem

    Step 2: Developing an Approach to the Problem

    Step 3: Formulating a Research Design

    Step 4: Doing Field Work or Collecting Data

    Step 5: Preparing & Analyzing Data

    Step 6: Preparing & Presenting Report

    14

    7
    1/20/2023

    Problem Definition

    15

    Problem Definition

    • The most important step in research

    • Problem Definition covers …


    – the purpose of study,
    – relevant background information,
    – information needed, and
    – how it will be used in decision making

    16

    8
    1/20/2023

    Why is it important to clearly define problem?


    • Because problem definition sets the course of entire project
    • Because client is paying for research so both need to know what
    to expect
    • Problem definition process provides guidelines on how to
    correctly define research problem
    • Because mistakes made at this level grow into larger, more
    expensive mistakes later.
    • All the effort, time & money spent from this point on will be
    wasted if problem is not properly defined.

    17

    Problem Definition: Genesis

    • Drivers for problem formulation:


    – Unanticipated change, basically in the environment of
    focal firm
    – Planned change (estimation, effects, outcome)
    – Serendipity (random ideas or information)

    • Situation Narration by management

    18

    9
    1/20/2023

    Exercise before Problem Definition

    1. Discussion with Decision maker


    2. Discussion with Industry expert
    3. Secondary Data
    4. Qualitative Research

    19

    Environmental Context of the Problem

    Past Information & Forecasts

    Resources & Constraints

    Objectives

    Buyer Behavior

    Legal Environment

    Economic Environment

    Marketing & Technological Skills

    20

    10
    1/20/2023

    Problem Definition

    • Management Decision Problem (MDP)

    • Research Problem (RP)

    21

    Management Decision Problem (MDP)


    • A statement specifying the type of managerial action
    required to solve the problem.
    – It asks what a decision maker needs to do.
    – It is action oriented.
    – It focuses on symptoms.

    • The Problem being faced by decision maker for which


    research is intended to provide answers or information

    22

    11
    1/20/2023

    Research Problem (RP)


    • A statement specifying the type of information needed by
    the decision maker to help solve the management decision
    problem and how the information can be obtained
    efficiently & effectively.
    – It asks what information is needed & how it should be
    obtained
    – Information oriented
    – Focus on underlying cause

    • A statement of the decision problem in research terms

    23

    MDP vs. RP: Illustration


    MDP RP

    Should a new product be To determine consumer preferences


    introduced? and purchase intentions for the
    proposed new product.

    Should the advertising To determine the effectiveness of the


    campaign be changed? current advertising campaign.

    24

    12
    1/20/2023

    MDP vs. RP: Illustration


    MDP RP

    Should the price of the To determine the price elasticity


    brand be increased? of demand and the impact on sales
    and profits of various levels
    of price changes.

    Should management share explicit To identify merit and demerit of


    career-development plan with sharing explicit career-development
    new recruit? plan with new recruit.

    25

    26

    13

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