Business Research Methods MS. NAYANA P DEPARTMENT

Transcript:Business Research Methods MS. NAYANA P DEPARTMENT:
Business Research Methods MS. NAYANA P DEPARTMENT OF BUSINESS ADMINISTRATION BUSINESS RESEARCH Business research is the planning collection and analysis of data relevant to business decision making and communication of the results of this analysis to management. Significance Modern business is characterized by large scale operations. Research enables the manager to make right choice Research helps in providing a quantitative treatment of the problem with a fair degree of success Research helps in making predictive judgments about new project. Significance Helps in discharging managerial functions effectively It provides accurate information about the business environment in which business organizations operate. Innovation is possible through research and development activities undertaken by an organization. Significance It helps in inter and intra functional efficiency Research helps in bringing out innovative products, process, new technologies etc. Research helps purchase department Market research provides details about the market while marketing research helps in taking right marketing decisions. It helps in efficient fund and asset management for maintaing liquidity and profitability Significance It helps in human resource planning. It helps in adapting to fluctuations in economic system and changes in govt. policies. It helps in updating its attitudes, approaches etc.. Features Process bound Objective oriented Interdisciplinary Multi dimensional Environmental considerations Test of business performances Flexible Extensive use of internet Demand driven Empowerment of managers Answering unsolved business problems Project management Use of both primary and secondary data Customer oriented Systematic Time bound dynamic Classification of Research Research according to nature of data Quantitative qualitative Research according to coverage Micro Macro Research according to utility Basic Applied Classification of Research Research according to the place where it is carried out Field studies Laboratory studies Library studies Research according to the research methods used Survey Observations Case studies Experimental Historic comparative Classification of Research Research according to the time frame Single time Longitudinal research Research according to the purpose of the study Exploratory Descriptive Co relational Casual Analytical evaluation Research according to methodology adopted Theoretical Empirical Types of Business Research Basic research Applied research Exploratory research Descriptive research Causal research Analytical research Theoretical research Empirical research Quantitative research Qualitative research Basic Research It is also known as fundamental or pure research It is concerned with generalization and with the formulation of theory There is no commercial value to the discoveries resulting from such research Eg: research work aiming at understanding human behaviour Features Pure research is related with rules