Business research methods

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Part One
INTRODUCTION TO
BUSINESS RESEARCH

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McGraw-Hill/Irwin

© 2003 The McGraw-Hill Companies, Inc.,All Rights Reserved.


Chapter One
RESEARCH IN BUSINESS

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What is Business Research?
• A systematic Inquiry whose objective is
to provide information to solve
managerial problems.

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Why Study Research?
• Research provides you with the
knowledge and skills needed for the
fast-paced decision-making

environment

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Why Managers need Better Information
• Global and domestic competition is
more vigorous
• Organizations are increasingly
practicing data mining and data
warehousing

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The Value of Acquiring Research Skills
• To gather more information before
selecting a course of action
• To do a high-level research study
• To understand research design
• To evaluate and resolve a current
management dilemma
• To establish a career as a research
specialist
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Types of Studies Used to do Research
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•

•
•

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Reporting
Descriptive
Explanatory
Predictive


Different Styles of Research
• Applied Research
• Pure Research/Basic Research

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What is Good Research?
• Following the standards of the scientific
method
– Purpose clearly defined
– Research process detailed
– Research design thoroughly planned
– Limitations frankly revealed
– High ethical standards applied

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What is Good Research? (cont.)
• Following the standards of the scientific
method (cont.)
– Adequate analysis for decisionmaker’s needs
– Findings presented unambiguously
– Conclusions justified
– Researcher’s experience reflected

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The Manager-Researcher Relationship
• Manager’s obligations
– Specify problems
– Provide adequate background information
– Access to company information gatekeepers

• Researcher’s obligations
– Develop a creative research design
– Provide answers to important business
questions

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Manager-Researcher Conflicts
• Management’s limited exposure to
research
• Manager sees researcher as threat to
personal status

• Researcher has to consider corporate
culture and political situations
• Researcher’s isolation from managers

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When Research Should be Avoided
• When information cannot be applied to
a critical managerial decision
• When managerial decision involves little
risk
• When management has insufficient
resources to conduct a study
• When the cost of the study outweighs
the level of risk of the decision
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Part One
INTRODUCTION TO
BUSINESS RESEARCH

2-2
McGraw-Hill/Irwin

© 2003 The McGraw-Hill Companies, Inc.,All Rights Reserved.

Chapter Two
APPLYING SCIENTIFIC
THINKING TO
MANAGEMENT PROBLEMS

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Sources of Knowledge

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• Empiricists attempt to describe, explain,
and make predictions through
observation
• Rationalists believe all knowledge can
be deduced from known laws or basic
truths of nature
• Authorities serve as important sources
of knowledge, but should be judged on
integrity and willingness to present a
balanced case


The Essential Tenets of Science
• Direct observation of phenomena
• Clearly defined variables, methods, and
procedures

• Empirically testable hypotheses
• Ability to rule out rival hypotheses
• Statistical justification of conclusions
• Self-correcting process

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Ways to Communicate
• Exposition
– descriptive statements that merely state
and do not give reason

• Argument
– allows us to explain, interpret, defend,
challenge, and explore meaning

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Important Arguments in Research
• Deduction is a form of inference that
purports to be conclusive
• Induction draws conclusions from one
or more particular facts

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The Building Blocks of Theory

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•
•
•
•
•
•
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Concepts
Constructs
Definitions
Variables
Propositions and Hypotheses
Theories
Models


Understanding Concepts
• A concept is a bundle of meanings or
characteristics associated with certain
events, objects, conditions, situations,
and behaviors
• Concepts have been developed over
time through shared usage

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Understanding Concepts

• The success of research hinges on:
– how clearly we conceptualize
– how well others understand the
concepts we use

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What is a Construct?
• A construct is an image or idea
specifically invented for a given research
and/or theory-building purpose.

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