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Lecture 1- Introduction to Research (1)

The document outlines the course 'Business Research Methods' at Chandigarh University, focusing on foundational concepts of research, its importance in business, and various research methodologies. It emphasizes the systematic gathering and analysis of data to solve business problems and improve decision-making. Key topics include the definition of business research, qualities of good research, and the distinction between basic and applied research.

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5 views

Lecture 1- Introduction to Research (1)

The document outlines the course 'Business Research Methods' at Chandigarh University, focusing on foundational concepts of research, its importance in business, and various research methodologies. It emphasizes the systematic gathering and analysis of data to solve business problems and improve decision-making. Key topics include the definition of business research, qualities of good research, and the distinction between basic and applied research.

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© © All Rights Reserved
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INSTITUTE –University School of

Business
DEPARTMENT -Management
BUSINESS RESEARCH METHODS
Course Name: 24BAT-625
Diksha Gandhi
Assistant Professor
Chandigarh University

UNIT-1 –
Foundations of DISCOVER . LEARN . EMPOWER
Research

1
Learning Objectives
Foundations of
Research

Will be covered in the


Co CO name Level
lecture
No
.
C To understand the research process for writing understand
O1 a research paper, Ph.D Thesis and dissertation
C To apply different research designs and apply
O2 sampling techniques in various business
research problems
C To analyze and interpret various hypothesis analyse
O3 tests to supplement decision making in
business scenario
C To compare the various sampling techniques remember
O4 for collection of data
C To create and implement a research proposal understand
O5 for the real life business problems
Topics for Discussion
• What is Business Research?
• Scope of Business Research
• Basic and Applied Research
• Importance of Business Research
• Factors affecting Business Research
What is Research?

• Dictionary definition of research is a careful investigation or inquiry specifically through


search for new facts in any branch of knowledge. In simple words, research is an art of
scientific investigation.
• Research may be very broadly defined as systematic gathering of data and information and
its analysis for advancement of knowledge in any subject. Research attempts to find
answer intellectual and practical questions through application of systematic methods.
• According to Fred Kerlinger, research is an organized enquiry designed and carried out to
provide information for solving problem.

4
Business research

• Business research may be defined as research activities carried out relating to the different
functionaries in the business and corporate world. Business research is a process of
acquiring detailed information of all the areas of business and using such information in
maximizing the sales and profit of the business.
• Such a study helps companies determine which product/service is most profitable or in
demand. The definition of business research involves acquiring information and knowledge
for professional or commercial purposes such as determining opportunities and goals for a
business.
• For example, an automobile company plans to unveil the latest car model in the market.
For that, they need to develop strategies to explore and monitor customer demand. So, the
company will conduct research to collect information and analyze market trends. This will
help them draw better conclusions and come up with a fine quality car at the right price
resulting in a larger market share.

5
Qualities of a Good Business Research:

• A good research must be systematic, logical, empirical, verifiable


• Procedure followed in research must be sufficiently described
• High ethical standards applied
• Limitations frankly revealed
• It should be carefully recorded and reported

6
7
Scope of Business Research

• The ultimate aim of research is to find (search) answer to questions by applying a scientific
research process. Although, there are different research objectives for different research
studies, some general objectives may be mentioned hereunder:
• To gain familiarity with a phenomenon or to achieve new insights into it (exploratory or
formulate research studies)
• To describe accurately the characteristics of a particular individual, situation or a group.
(descriptive research)
• To determine the frequency with which something occurs or with which it is associated
with something else. (studies with this object known as diagnostic research)
• To test a hypothesis of a causal relationship between variables. (such studies are known as
hypothesis testing research)

8
Basic and Applied Research

Basic Research: Applied Research


• It is also known as pure or fundamental • Applied research is mainly related with
research. solving practical problems rather than
• This research is mainly conducted to focusing on knowledge expansion.
increase knowledge base. It is driven • It is mainly used to find solutions to
purely by interest and a desire to expand problems which occur on a daily basis
our knowledge. and develop new innovative technologies.
• This type of research tends not to be • The main aim of applied research is to
directly applicable to the real world in a provide better technologies for humans
direct way, but enhances our to enhance their standard of living.
understanding of the world around us.
• Pure research can be exploratory,
descriptive or explanatory.
9
Importance of Business Research

• Problem Identification
• Problem prioritization
• Problem Resolution
• Implementing the course of action
.

10
Factors affecting Business Research

• Time constraint
• Availability of resources
• Nature of information Sought
• Benefit V/S Cost

11
12
References

• Textbooks / Reference Books


• T1 Cooper, D., Schindler, P. 2106. Business Research Methods, 9th Edition, Tata McGraw Hill,
India ISBN: 9781259001857.
• T2 Malhotra, N. 2110. Marketing Research: An Applied Orientation, 6 th Edition, Pearson
Publication, India, ISBN: 9781292103129
• T3 Kothari, C. 2104. Research Methodology – Methods and Techniques, 2 nd Edition, New
Age International, ISBN: 9788122424881
• R1 Nargundkar, R. 2102. Marketing Research, 4th Ed., Tata McGraw Hill, India, ISBN:
9780070221874

• https://www.questionpro.com/blog/business-research/
• https://bizfluent.com/info-8032498-definition-business-research-methods.html
• https://www.youtube.com/watch?v=tYqunL58_3Y
THANK YOU
For any queries Contact - [email protected]

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