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Business research techniques (BRT) summary!
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All grasple modules included video explanations are explained in this summary. It includes easy to study figures and tables. Passed with an 8.7!
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BRT module 1 - Why business research?1.1. Introduction
Business scientists base their conclusions on empirical research.
What is needed for business research
1. Evaluate business research
2. Delegate business research
3. Produce business research
Business research is (i) A systematic process of (ii)testing hypotheses through (iii) carefully
executed data analyses that are aimed to (iv) help a manager solve, avoid, or minimize a
problem.
(i) A systematic process - it consists of 7 distinct but interrelated stages.
(ii) Tests hypotheses - A study without hypotheses could produce the same findings.
However, these findings could be a mere coincidence, rather than contribute to
understanding the problem.
(iii) Entails collecting and analyzing data - Since business research is empirical, data van be
collected in various ways (surveys, archival research etc.).
(IV). Is meant to help managers make better decisions - better decisions are evidence-
based instead of based on intuition. It could cost a lot of time and money.
Intuition should never be a substitute for research since intuition often is cognitive biased:
1. Confirmation bias
The tendency to only consider information
that agrees with your beliefs, and you
disregard the rest. E.g., pessimists who ignore
the positives and news junkies who only
consume media that supports their world
view.
2. Availability bias
Refers to the bias in which you make your
decision based on readily available
information (more recent or more vivid).
3. What you see is all there is bias (WYSIATI)
Only mind the information that is present and
forget to consider what is absent. E.g.,
managers see an increase in brand sales after running an advertising campaign, but
they don’t see the (same) increase in sales without running the campaign, even
though sales increased as well.
Evaluating whether a journal is worthy of being considered when doing research
- Check whether the articles are peer-reviewed.
- Look up impact factor (should be at least 1)
- Consult list of quality journals
,BRT module 2 - Theory formation (1st, 2nd, 3rd step)
Deductive business research is a systematic process which is done in 7 steps:
1. Demarcate the business problem
2. Formulate research questions
3. Develop the theoretical framework
4. Choose a research strategy
5. Collect the data
6. Analyze the data
7. Write a report (conclude)
Deductive research Inductive research
Tests an existing theory Forms a new theory
Top-down approach: Bottom-up approach:
1. Theory 1. Observation
2. Hypothesis 2. Pattern
3. Observation 3. Hypothesis
4. Confirmation 4. Theory
2.1. A demarcated business problem (1st step)
When does a business problem occur?
- When a company encounters a threat (a difficulty to be eliminated)
- Or an opportunity (a situation that might be improved)
Demarcating a business problem
A business problem needs to be demarcated or narrowed down before it can be researched.
2.2. Problem relevance
- Academically relevant
- Managerial relevant
Academic relevance
A business problem can be academically relevant in four ways:
1. Completely new topic
The topic has not been researched before, so no information could be found
although the topic is important
2. Prior research in a new context
3. Integrates scattered findings
E.g., different studies have focused on different IV’s / moderators; consequently,
their relative importance is not clear --> could lead to a joint effect: the IVs together
can have a stronger effect on the DV than just one of the IV’s.
4. Reconciles contradictory findings
Solve contradictions in previous studies by introducing one or more moderators that
explain under which conditions the relationship between x and y is positive or
negative.
,Managerial relevance
Who benefits from having the problem solved?
- Managers
- Of one company
- Of one industry / multiple industries
- End-users
- Public policy makers
2.3. Research questions (2nd step)
A good problem statement is:
1. An open-ended question
2. That identifies the study’s unit of analysis
3. And is expressed in terms of variables and relationships
1. Open-ended question
- What, how, to what extent
- Should not be answered with a simple yes or no
2. Identifies the unit of analysis (UOA)
- Can be derived from the dependent variable.
- Can be at a lower or higher level of aggregation.
The DV and the mediator are measures at the level of the Unit of Analysis
(UOA), and the IV is measured at the same level or at a higher level. The
IV cannot be at a lower level of aggregation than the DV.
For example: “What is the effect of consumers on country
characteristics?”
3. Expressed in terms of variables
- Each variable should have at least to values or levels
- Variables can vary
1. Across subjects (research amongst service vs. product-based firms)
2. Over time (R&D spending over the last 10 years)
3. Over subject and over time
4. Expresses the relationship between at least two variables
- How is package size related to young children’s sweets consumption?
- How are (i) package size, (ii) shape, and (iii) color related to young children’s sweets
consumption?
Most of the time, the problem statement not only formulates the relationship between an IV
and a DV, but it also includes moderating variables on which the relationship may depend.
Use correlational language rather than causal language.
- X is related to Y
- X is associated with Y
- When Y increases, X increases
, When something that could potentially vary only has one level in the study, it is not a
variable but a constant.
2.4. Develop the theoretical framework (3rd step)
- Providing a literature review
- Presenting / visualizing the conceptual model
- Formulating research hypotheses (explained in 2.5)
1. Providing a literature review
The purpose is to provide an overview of the key studies on a particular topic for each
variable.
2. The conceptual model
A conceptual model summarizes the new study. It explains which variables are included and
it justifies why these variables are included and how they relate to each other.
Independent variable - Influences the dependent variable in
(Predictor, explanatory variable) a positive or negative way.
- Could have multiple levels
Dependent variable The variable of primary interest (UOA could
(Criterion, outcome) be derived from it)
Mediating variable Is situated between de independent
(Mediators, intervening variable) variable and the dependent variable.
Explains why and how the IV influences the
DV.
Moderating variable A mechanism that influences the
(interaction) relationship between the IV and DV.
Strengthens/weakens this relationship and
could even change the direction of the
relationship (positive becomes negative)
Control variable Is not in interest of the study. However, it
could influence the DV and can therefore
not be ignored. It is kept constant or
monitored.
Quasi-moderation A moderator also has a direct effect on the
DV.
2.5. Research hypotheses (3rd step)
A research hypothesis is a:
(i) Tentative statement: the research will test, using data, whether this statement is sound
(ii) About the coherence or the relationship between two variables and
(iii) pertains two or more variables.
* The null hypothesis is never included in research reports and academic articles!
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