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MBA BRM (104)

BUSINESS RESEARCH METHOD S


`WHAT IS RESEARCH ?

searc
Re
h

Reserved by Mr. Swapnil Undale 2013 Revised


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MBA BRM (104)

BUSINESS RESEARCH METHOD S


`WHAT IS RESEARCH ?

searc
Re
h

Reserved by Mr. Swapnil Undale 2013 Revised


2014

MBA BRM (104)

`WHAT IS RESEARCH ?
Research is the process which includes defining and
redefining problems, formulating hypothesis or
suggested solutions; collecting, organizing and
evaluating data; making deductions and reaching
conclusions; and at last carefully testing the
conclusions to determine whether they fit the
formulating hypothesis.
-Clifford Woody.
-Research Methodology C. R. Kothari 2e p1
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MBA BRM (104)

WHAT IS RESEARCH ?
The manipulation of things, concepts or symbols for the purpose
of generalizing to extend, correct or verify knowledge,
whether that knowledge aids in construction of theory or in the
practice of an art. - D. Slesinger and M.Stephenson
Search for knowledge through objective and systematic method
of finding solutions to a problem is research - C.R.Kothari
- a careful investigation or inquiry specially through search for
new facts in any branch of knowledge Advanced learners
dictionary of Current english
-

Research Methodology C. R. Kothari 2e p1

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What is business research ?


Business research is a systematic inquiry whose
objective is to provide information to solve managerial
problems.
- Cooper & Schindler

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Why study Business Research Methods?


RESEARCH MOTIVES
Inquisitiveness (Jidnyasa)

Uncomfortable with uncertainness


Sustainable growth of business
Academic and career excellence
Desire to accept Challenges
Satisfy creativity
Service to society

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Why study Business Research Methods?


Objectives of Research
To Solve management dilemma related to functional areas like
marketing, HR, Finance, System, Operations etc.
To understand formulative or descriptive characteristics of the
elements involved in decision making, frequency of their
occurrence and associative or causal relationship amongst
them.

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Why study Business Research Methods?


Objectives of Research

To know and understand a phenomenon.


To know characteristics of a situation
To know frequency and association between two or more
entities or events
To know the causal relationship between two or more entities
or events

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Why study Business Research Methods?

Utility of research :
Inculcation of scientific, logical and inductive thinking.
Basis for governmental policies,
Solving operational and planning problems of business and
industry,
Seeking answers to social problems.
Useful for academicians, consultants etc.

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What is good research?


Features of a Good Research Study:
Must have clearly stated purpose
Objectives, scope, variables, constructs, operational definition must be explained
precisely.

Must follow systematic and detailed plan (Research Design)


Logical justification for sampling plan, data collection and analysis
techniques
Must be presented in unbiased, objective and neutral manner
Must maintain the highest ethical standards
Reliable and replicable
Ref.: Chawala D., Sondhi N.(2011), Research Methodology, Vikas Publishing House pvt ltd., p17

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Decision Support
System(DSS)

Decision Support System(DSS)


A computer based system that helps decision makers confront
problems through direct interaction with databases and analytical
software programs
-Zikmund et al, BRM, Cenage, 8e, p 23
Purpose of DSS
To store data and transform them into organized information that is
easily accessible to managers.
Modern DSS facilitates CRM (CRM is part of DSS)
Brings together information about sales data, market trends,
marketing promotions and the way consumers responds to them,
customer preferences etc

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Decision Support
System(DSS)

Major sources of input for DSS


Source

Data

Internal Records

Customer profiles, previous orders, inventory,


product sales history

Proprietary Marketing
Research

Survey findings, test market results, new


product forecast

Salespersons input

Customer complaints and comments,


changes in competitors goods and services

Behavioral tracking

Scanner data(PoS data), click-through


sequence, GPS system records, automated
customer counts

Web tracking

Social networking sites, internet blogs, chat

Out side vendors and


external distributors

Industry sales trends, competitors market


shares, demographics
-Zikmund et al, BRM, Cenage, 8e, p 25-26

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Business
Intelligence

Business Intelligence
Data and Information are often used interchangeably.
Data are simply facts or recorded measures of certain
phenomena (things or events)
Information is data formatted (structured) to support
decision making or define the relationship between two
facts
Business intelligence is the subset of data and information
that actually has some explanatory power enabling
effective managerial decisions to be made

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Data, Information and Intelligence


1. PoS data
recorded by
scanner

2.
Inventory system use
data to create
information
The information tells
manager what items
need to be stocked
The information also
generates and can even
place orders to
vendors/suppliers
3. Analysts analyze the data
statistically and write research
reports addressing important
questions such as
What type of trends exists in
customer purchases, and are
there regional differences?
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Where should new store be
2014

Characteristics of useful data


Not all data are valuable to decision makers
1. Relevance - The characteristics of data reflecting how
pertinent these particular facts are to the situation at
hand.
Whether the data/facts are logically connected with the situation?

2. Quality The degree to which data represent the true


situation.
Is the data Accurate, valid and reliable?

3. Timeliness - the data are current enough to still be


relevant
4. Completeness Having the right amount of information
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MBA BRM (104)

Research application in fictional areas of Business

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Ref.: Chawala D., Sondhi N.(2011), Research Methodology, Vikas Publishing House pvt ltd., p17

MBA BRM (104)

Emerging trends in Business


Research

Ref.:
1. Zikmund, Babin et al (2012) Business Research Metods,
Cengage Learning, 8e, pp13-16
2. Zikmund, (2004) Business Research Metods, Thomson SouthWestern, 7e, p16
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Business Research has strongly been


influenced by two major trends in
Business
Development Communication Technology
Globalization

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Communication Technology
Obtaining and communicating information is the essence of
Business Research (BRM, W. Zikmund, Thomson-South Westorn, 2004,
7e, p16)

Data collection and information communication Post


Courier Telephone Internet (email) Mobile phone
wireless internet . Still to come .????
Mainframe PC Laptop Notebook Tablets Phablets /
Smart-phones .???
Audio-video recording data collection at transactional level
Data collection through report generation process (and even
action e.g. placing order to vendor) accomplished within minutes
Calculators PC LOTUS EXCEL Statistica, SPSS,
MiniTab, SAS .????
Type writing m/c Electronic type writing m/c Dot matrix
printers Laser printers Inkjet printers

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Communication Technology
Research process made easy
Literature review (online library, databases, EBSCO, PROVACE,
CRISIL etc..)
Data collection (e-mail, e-focus groups, video conferencing, chat
rooms, telephone interviews etc.., Camera, recorders, eye tracking
devices etc)
Data analysis (SPSS, MiniTab, EXCEL etc)
Report generation
Helped to over come constraints Time, Cost, Skill (Through self
learning/guidance using online source)
Any Body Can Do Research (Within the reach of even small
organizations)
Time is collapsing, distance is disappearing. Click to cross ocean
instantly.
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Global Business Research


Business activities become increasingly global
Products and strategies successful in one nation not necessarily be
successful in other.
This is mainly due to language, religion, climate, traditions, and culture
Cross cultural differences need to be investigated for successful global
operations
e.g. Jack Daniels (JD) one of the leading American brand of Whisky
observed
JD is consumed as dinner beverage in Japan
Australians prefer to mix JD with other soft drinks (on the
basis of this research JD launched a mixture called Jack
and Cola which has been very successful)
Indian and Chinese consumer chose counterfeit or Knockoffs to save money directed Consumer education
campaign
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Global Business Research

The internalization of research places greater demands on Business


researchers and heightens the need for research tools that allow us
to Cross-validate research results
Cross-Validate
To verify that the empirical findings from one culture also exist and
behave similarly in another culture
Technology has changed almost every aspect of business research.
Modern computer and communications technology makes data
collection, study design, data analysis, data reporting, and
practically all other aspects of research easier and better.
Furthermore, as more companies do business outside their own
borders, companies are conducting research globally. This places a
greater emphasis on research that can assess the degree to which
research tools can be applied and interpreted the same way in
different cultures. Thus, research techniques often must crossvalidate results.
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MBA BRM (104)

Scientific Method
A method or procedure that has characterized natural science
since the 17th century, consisting in systematic observation,
measurement, and experiment, and the formulation, testing,
and modification of hypotheses. - Oxford English Dictionary
The scientific method is a body of techniques for investigating
phenomena, acquiring new knowledge, or correcting and
integrating previous knowledge. - Goldhaber & Nieto 2010, p. 940
Scientific method of inquiry must be based on empirical and
measurable evidence subject to specific principles of
reasoning.
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MBA BRM (104)

Scientific Method (contd.)


Empiricism
Describing, explaining and making predictions by relying on
information gained through observations based on sensory
experience and/or derived from such experience by
methods of inductive logic including mathematics and
Statistics.

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MBA BRM (104)

Postulations in scientific method :


It relies on empirical evidence.
It utilizes relevant concepts.
It is committed to only objective consideration.
It is aimed at making only adequate and correct statements about
population objects.
It results into probabilistic predictions.
Its methodology is made known to all concerned for critical
scrutiny and testing.
Its aimed at formulating scientific theories.

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MBA BRM (104)

Research Process
Steps in research :
1. Define research problem What is to be found out ?
2. Review concepts/theory, Review previous research finding:
-- What research work has been done so far ?
3. Formulate hypotheses What is the likely out come ? or
researchers learned opinion ?

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MBA BRM (104)

Research Process
Steps in research :
4. Research design
What information is needed ? Who will give the information ?
from how many to collect the information ? how to collect and
analyse the information ?
5. Data collection What is the response to the questions ?
6. Data analysis and interpretation Do the hypotheses test
positive or otherwise ?
7. Report how to present the findings, conclusions and
suggestions ?

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MBA BRM (104)

The Research Process


(As described by Cooper & Schindler)
The researcher
encounters a curiosity, doubt, suspicion, or obstacle.
struggles to state the problem asks questions, contemplates
existing knowledge, gathers facts and moves from an
emotional to an intellectual confrontation with the problem.
Proposes hypothesis to explain the facts that are believed to
be logically related to the problem.
Deducts outcome or consequences of the hypothesis
attempts to discover what happens if the results are in the
opposite direction of that predicted or if the results support
the expectations.
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The Research Process


(As described by Cooper & Schindler)
The researcher
Formulates several rival hypotheses.
Devises and conducts a crucial empirical test with various
possible outcomes, each of which selectively excludes one or
more hypotheses.
Draws a conclusion (an inductive inference) based on
acceptance or rejection of the hypotheses.
Feeds information back into the original problem, modifying it
according to the strength of the evidence.

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MBA BRM (104)

Concept of Scientific enquiry


Deductive Theory :
A logical process of deriving a conclusion about a specific instance based on a known general
premise or something know to be true.
A form of reasoning in which the conclusion
must necessarily follow from the premises (reasons) given.
Deduction is valid if it is impossible for the conclusions to be
false if the premises are true.
Example of deduction :
All MBA students of MITSOM are placed in MNCs.
(Premises # 1)
Swapnil is a MBA student of MITSOM (Premises # 2)
Conclusion Swapnil will be placed in MNC.

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MBA BRM (104)

Inductive Theory : A form of reasoning that draws a


conclusion from one or more particular facts or pieces of
evidence.
Example of induction :
Statement Students are not scoring good marks in
Business Research Methods
Question Why are students not scoring good marks in
Business Research Methods

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Inductive Theory (Cont.)


From our knowledge of the subject, we can formulate a few
hypotheses.
1. Students dont study Business Research Methods seriously.
2. The teacher teaching Business Research Methods is not
good.
3. Business Research Methods is not a scoring subject.
4. Syllabus of Business Research Methods is very vast.
5. Question papers of Business Research Methods are always
tough.
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Inductive Theory (Cont.)


All the above hypotheses are likely to be true. But we have
more confidence in some of them. They require further
confirmation before we are reasonably confident about
them.
Confirmation will be based on evidence.
The quality of evidence will depend on
Nature of evidence ( ability to prove or disprove the
hypothesis)
Sources and measurement of the evidence (Authenticity and
accuracy of the evidence)
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Deductive reasoning
From the more general to the more specific.
Theory of gravitation
All fruits(apple) will fall down
Inductive reasoning
From the more specific to the more general.
Why apple fall on the ground?
Theory of gravitation

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MBA BRM (104)

Genera
l

Specifi
c

Deductive
reasoning

Inductive
reasoning

Theory

Observati
on

Hypothesi
s

Patterns

Observati
on

Hypothesi
s

Conclusio
n

Theory

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Specifi
c

Genera
l

Problem identification & Hypothesis formulation


DilemmaState of confusion
More than one options available
Trade off
Management DilemmaDilemma related to management function
The problem or opportunity that requires a decision
A symptom of a problem
An early indication of an opportunity
e.g. De growing sale
Management question :
Management dilemma restated in question form.
e.g. Why sale is de growing?
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Problem identification & Hypothesis formulation


Research question :
The hypothesis that best states the objective of research
study.
e.g.

Should we increasing production?


Should we provide training to field force?

Investigative questions :
The questions the researcher must answer to satisfactorily
answer the research question/problem.
e.g. What is the capacity utilization ratio?

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Problem identification & Hypothesis formulation

Measurement question:
The questions the researcher asks to the respondents in order
to find answer to the research problem

(questionnaire).

e.g.How many machines are installed in the plant?


What is the capacity of each machine?
How many units are produced in a shift/day/week/month?

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MBA BRM (104)

Research Proposal

To understand perception of consumers towards


the snack food Hippo for Parle Agro Products.

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Assumptions

The study will be conducted in Pune.


The target respondents will be the youth, lying in the
age of 16 to 21 years.
The total number of respondents will be 300.
Total no of competitors in the market are 2500
including all local competitors.

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Title

To understand consumer perception of Hippo, a


brand of Parle Agro Products.

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Research Design

Objectives:

To find out the consumer awareness about the brand


Hippo.
To determine consumers likeability for the product in
terms of various parameters such as taste, aroma,
packaging, availability etc.
To determine consumer preference for snack food
amongst the various competing brands.

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Research Design

Type of Study:
The research will be a Descriptive Research.
A structured interview of 300 people will be conducted
from different parts of Pune.
Sample Questionnaire:
Parle Agro Hippo maintains high quality
Strongly agree_________________
Agree________________________
Neither agree or disagree_________
Disagree______________________
Strongly disagree_______________
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Research Design

Sample Questionnaire:
Rate the following parameters on a scale of 1 to 7:
Taste: Bad 1 2 3 4 5 6 7 Good
Availability: Poor 1 2 3 4 5 6 7 Readily
Available
Rank following flavors of Hippo according to your
preference (Rank 1 to most preferred through 5 for least
preferred)
Italian Pizza..
Chinese Manchurian..
Yoghurt mint
Hot and Sweet Tomato.
Thai Chili.
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Research Design

Target Population and Sample Size:


Target population is the youth of Pune between the
ages of 16 to 21 Years.
People from different economic backgrounds will be
interviewed.
Sample Size :300

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Research Design

Sampling Technique and Data Collection Method:


The Stratified sampling technique will be adopted.
The data collected will be in the form of structured
interview . Personal interviews will be conducted.

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Research Design

Research Instrument:
The research instrument used will be the structured
questionnaire.
The Likert's rating scale and semantic differential
scale will be used.

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Managerial benefits

This study will help management


To understand the strengths and weaknesses of the
brand.
To understand the changes required to be made in
terms of flavour, packaging and price.
To find out the effectiveness of the distribution
channels.
To find out the effectiveness of the integrated
marketing communication strategies used.

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Proposed Cost

Sr.
No.

Particulars

Amount
(Rs./-)

Salary/Honorarium

1,20,000.00

Traveling Expenses

20,000.00

Secondary data, Books,


Journals etc

10,000.00

Stationery, typing & printing

5,000.00

Miscellaneous

5,000.00
Total

1,60,000.00

Proposed Duration
The project will be completed within a time period of
6 months.
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Profile of Research Co.


Capabilities

Our technical capabilities are broad &


diverse.
We offer full service research capabilities.
Highly experienced & skilled research
analysts
Wealth of standardized & customized
solutions to address unique issues.
Innovative approaches combined with
broad market knowledge.
Highly qualified & skilled researchers.
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MBA BRM (104)

THANK YOU

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