Business Research Method

There are 2 aspects of research:

1. Function: It help us to know the functions of research.

2. Purpose: It helps us to know the research question.
Question 1. What is Research?

Answer: Research means Re-search. Search again and again.

There are 2 types of research definition. They are:

1. Functional definition of research: Research is the systematic collection, analysis and
interpretation of data to answer a research question.

2. Conceptual definition:
i. Research means searching again and again to answer a research question.
ii. Research is a scientific investigation to answer a research question.
iii. Research is an academic activity to answer a research question.

Question. 2. What is research question?

Answer: Research question is a question the answer of which is not known to anybody in the
world.

Question. 3. What are the types of research question?

Answer: The answers of research question or research result are of two types:
I. Knowledge: Knowledge is sustainable.
Example- Newton's third law is sustainable knowledge.
Knowledge can be written in text book.
Thesis is new knowledge.

II. Information: Information is changeable.

Example: BSRM productivity changeable information.
Information cannot be written in a textbook.
Report is information based found research.
Question. 4. What are the characteristics of research?
Answer: There are 3 characteristics of research. They are:
1. It should have a research question
2. It should be systematic and scientific.
3. It must contribute something new to the existing stock of knowledge.
Research journal and the person who will check/ review the journal they both will remain
anonymous.
In an internship report the following things a person needs to follow:
 What is his research objective?
The other name of a research question is research objective.
i. What are the research findings?
To find the finding of his selected organization.
 What is the Methodology?
If the findings is done properly or not the system or steps use to do the research.

Question. 5. What is a business research? What is the importance of business research?

Answer: Research that reducing uncertainty in decision making in business is called business
research.
The importance of business research is to make decision.
 What is decision making?
Answer: Decision making is nothing but choosing the best or better alternative out of available
alternative.
Decision making situation of business are of 3 kinds. They are:
1. Situation of complete certainty: If the decision maker has all the information need to do
the research that is called situation of complete certainty
2. Situation of absolute ambiguity: If the decision maker has no information and don’t know
what to do or what not to do is called situation of absolute ambiguity.
3. Situation of uncertainty: If the decision maker has some information but don’t have all
such as 50/50 is called situation of uncertainty.
  Types of business research?
There are two types of business research. They are:
i. Academic research- Research attempts for the search of knowledge is called academic
research. Academic research is sustainable. The utility of knowledge will remain for a long
time.
Example: Research happens in the university or educational institution for educational
purpose.
ii. Corporate research: Research attempts to collect information and to use information to
make decision is called corporate research. Corporate research reduce uncertainty in
making decisions. All the information is not available, so the researcher needs to attempt a
research to gather information. Example: Research & Development department of an
organization.
Question. 6. What are the factors to be consideration in research?
Answer: After requesting from manager research & development consider 4 factors to do
research.
1. Time factor
2. Data factor
3. Nature of decision factor
4. Cost vs benefit factor

Cost R
Nature of
Time
m
Data Decision
vs e
S
YES YES YES
Benefit YES
e
a
r
c
h
Is
U
NO n
NO NO NO
d
e
r
t
Don’t do the research a
k
e
n
This is called consideration of research.
 Question. 7. What is the classification of research?

Classification of research

From the From the

From the From the From the From the From the
view point view point
view point view point view point view point view point
of of
of of of of of
Research Research
Objective Function Data approach finance
place unit

Classification of Research point 1

On the basis of Objective

Pure Research Applied Research

Pure Research: If the research is conducted either to develop theory or to verify theory is called
pure research. Pure research is also known as basic research or fundamental research.
Applied Research: If the research is conducted for making decision in day to day affair is applied
research.
 Objective of Pure Research and applied research

Pure Research Applied Research

[Link] theory 1. Decision making

[Link] research 2. Corporate research

[Link] objective of pure research is to create 3. The objective of applied research is
knowledge to create information.

[Link] develop a model

[Link] find limitation.

Classification of Research point 2

On the basis of functions

Descriptive Research Exploratory Research Casual Research

From the view point of functions classification of research are of three types

1. Descriptive Research: The research which is conduct to describe the situation is

descriptive research.
Example: What is the sales performance of XYZ Company.

2. Exploratory Research: The research which is conducted to explore the underlying causes
is exploratory research. The reason for which we will conduct the research is called exploratory
research.
Example: What are the causes of poor sales performance of XYZ company? If any?

3. Causal Research: The research which is conducted to find out the variables and the
attributes is a causal research.
Example: Which one is the most responsible cause of poor sales performance of XYZ Company?
 Classification of Research point 3
On the basis of data

From the view point of data are 2 types:

[Link] Research / Study: The research which is conducted by using qualitative data is
called qualitative research ex: HR research, marketing research etc.
Purpose of qualitative research are:

I. To do job satisfaction study

II. To do customer satisfaction study
III. Data collected from the customer or else.

[Link] Research / Study: The research which is conducted by using the quantitive data is
called quantitive research. Ex: Finance statement study, Customer satisfaction study.
Purpose of qualitative research are:
I. Financial performance of a company
II. Need to see their profit, sales etc.
Other,
From the view point of data are 2 types:
[Link] Data: Data which is collected from the original or the primary source is called primary
data.
Example: Suppose I bring a research on socio economic background of CIU student. So, I need to
bring questions for students to know their opinion.
2. Secondary Data: Data which was collected by the others later it was use by someone else
is called secondary data.
Example: If someone one goes to the CIU information desk and collect information. The
information of CIU information desk was pre-collected so it’s secondary data.

Classification of Research point 4

On the basis of Research Place

Desk Research Field Research

1. Desk Research: If the research is conducted by collecting data sitting in front of desk or
indoor research.
Example: If the research is done by using the internet or other various indoor source are
called desk research.
2. Field Research: If the research is conducted by collecting data from the field.
Example: If the researcher needs to visit outdoor places to collect data.
 Classification of Research point 5

On the basis of Approach or Pure Research

Inductive Research Deductive Research

Inductive Research: The research which is done to develop a theory.

Example: When a scientist develop a theory.

Deductive Research: The research which is done to verify a theory.

Example: When other scientist tries to prove a theory wrong or to see if the invented theory is
right.

Classification of Research point 6

On the basis of Finance Research

Sponsor Research Self finance Research

Sponsor Research: The research which is done by someone else money.

Example: When university allot a fund to specific group or an individual to do a research.

Self-Finance Research: If the research is done or undertaken by own fund.

Example: When someone con duct research with his own money.
 Classification of Research point 7
On the basis of Unit Research

Sample Study Census Study

Sample Study: If the research is done from the few people from the population is called Sample
study.
Example : Suppose CIU authority has selected few student to know about the new assistant
teacher.
Census Study: If the research is done with the all members of the population is called Census.
Example : Suppose CIU authority has conducted an evaluation on new assistant teacher with all
the students in the university .

Question. 8 How many types of researcher are there?

There are 4 groups of researchers. They are:

1. Group of undergraduate students.
2. Group of research students.
3. Group of teachers at territory level. Such as University Level
4. Group of professional researcher / corporate researchers. Such as those who work at R&D
of an organization.
There are three major responsibilities in territory level.

1. Knowledge distribution
2. Academic administration
All of the researcher research in a same way but their purpose is different.

People work in the corporate research to generate information. They do not work on thesis. They
work on report. They do it to generate information so that they can make decision. This is applied
research. The purpose of university research is to create knowledge