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Summary Research Methods for Business
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Summary Research Methods for Business on mentioned chapters. ISBN: 6846
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BRM summary Research methods for businessContents
Chapter 1: Introduction to research..........................................................................................2
Chapter 2: Introduction to research..........................................................................................4
Chapter 3: Defining and refining the problem...........................................................................5
Chapter 5: Theoretical Framework and hypothesis development............................................7
Chapter 6: Elements of research design..................................................................................10
Chapter 9: Administering questionnaires................................................................................12
Chapter 10: experimental designs...........................................................................................14
Chapter 11: Measurement of variables: operational definition..............................................15
Chapter 12: Measurement: scaling, reliability and validity.....................................................16
Chapter 13: Sampling...............................................................................................................17
,Chapter 1: Introduction to research
Introduction
Research: the process of finding solutions to a problem after a thorough study and analysis
of the situational factors.
- Helps making decisions -> decision-making process
o How to make the right decision?
People (consumers, managers) are always involved in some kind of research activity;
exploring and examining issues
Business research
“a systematic and organized effort to investigate a specific problem encountered in work,
which needs a solution”
- Series of steps towards the answer; entire process is called research
- processes of:
o Inquiry
o Investigation
o Examination
o Experimentation
- Which have to carried out:
o Systematically
o Diligently
o Critically
Identifying -> gathering -> analyzing -> implementing = all facilitated by understanding
business research
Information from:
- Primary or secondary
- Quantitative or qualitative
The role of theory and information in research
Business: better understand topic; competitive advantage
Scientist: Theory explains a certain phenomenon
Types of business: applied and basic
Find an answer and apply: applied research
Generate a body of knowledge: basic, fundamental or pure research
- Read examples!
Managers and research
Why managers need to know about research
- Understand problem
- Predict future
- Control outcomes
, Research helps to control before problems start, also know if recommendations are good
- Sharpens sensitivity of managers
- Helps understand research reports -> becomes helpful tool
- Aware of biases of reporters
- Helps share valuable information with researcher
The manager and the consultant-researcher
More skill in research -> better explanation of problems and wants -> good relationship
1. roles and expectations are made explicit
2. relevant philosophies and value systems of the organization are clearly stated and
constraints are communicated
3. good report is established
Internal versus external consultants
Internal consultants
Advantages:
1. Rapidly accepted by employees
2. Less time to learn structure
3. Available for implementation
4. Might cost less
Disadvantages:
1. Internal might fall in stereotyped way of looking
2. Internals may be badly influenced
3. Internals may not be experts
4. Biases of internals
External consultants
Advantages:
1. Experience within different industries, various angles
2. More knowledge, sophisticated problem-solving models
Disadvantages:
1. Costs
2. A lot of time
3. Additional fees for implementation
Knowledge about research and managerial effectiveness
Rapid changes, big data -> all to be considered in day-to-day decisions
Knowledge of research greatly enhances the decision-making skills of the manager
Ethics and business research
Ethics: code of conduct or expected societal norms of behavior while conducting research
Applies to all people involved
Ethical behavior pervades each step of research process
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