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BRM1 Summary
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This is a detailed lecture summary of all lectures provided in the course Business Research Methods 1 or Quantitative Business Research
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BRM 1 – LecturesLecture 1 – Introduction
Why should future managers (you) know about research?
• Managerial decisions that are based on:
§ The results of “good” research tend to be more effective
§ Hunches, intuition, and past experiences are more likely to be wrong
If intuition does not work, will experience?
So why would future managers (you) know about research?
• To be able to perform business research
§ E.g., undertake research yourselves to solve the smaller problems you
encounter
• To be able to steer business research
§ E.g., interact effectively with researchers/ research agencies
• To be able to evaluate business research
§ To discriminate between good and bad research proposals of researchers/
research agencies
§ To discriminate between good and bad published research studies
,Myths about business research:
• The “managers are from Mars, researchers are from Venus” myth:
§ Myth: there is no need to study business research for a future manager
• The “most research is not read” myth
§ Myth: business research ends up in the bottom drawer
• The “big bucks” myth
§ Myth: business research is only for the wealthiest organizations
• The “big decision” myth:
§ Myth: business research is only useful when you have a major decision to
make
• The “universal truth” myth
§ Myth: there is just one best way of researching a business problem
What is business research:
• Business research is “a series of well-thought-out and carefully executed activities
that enable the manager to know how organizational problems can be solved, or at
least considerably minimized” – Sekaran & Bougie (2016, p.2)
• A business researcher:
§ Specifies the information necessary to address these issues
§ Designs the method for collecting information
§ Manages and implements the data collection process
§ Analyses the results
§ Communicates the findings and their implications
Hallmarks of scientific research:
,Hallmark 1; Purposiveness:
• Knowing “the why” of your research
Hallmark 2; Rigor:
• Ensuring a sound theoretical base and methodological design
Hallmark 3; Testability:
• Being able to test logically developed ideas based on data
Hallmark 4; Replicability:
• Finding the same results if the research is repeated in similar circumstances
, Hallmark 5; Precision & Confidence
• Drawing accurate conclusions with a high degree of confidence
Hallmark 6; Objectivity:
• Drawing conclusions based on facts (rather than on subjective ideas)
Hallmark 7; Generalizability:
• Being able to apply research findings in a wide variety of different settings
Applied research Fundamental (or basic) research
• To solve a current problem faced • To generate new knowledge about how
by a manager problems that occur in several firms can
• Applies to a specific company be solved
• Within firms or research • Applies to several organizational settings
agencies • Mainly within universities and
knowledge institutions
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