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The document discusses the key steps in the business research process. It begins by defining business research as the systematic collection and analysis of data to aid business decision making. It then outlines the main steps as: 1) identifying problems or opportunities, 2) diagnosing the issues, 3) conducting research to explore solutions, and 4) implementing solutions. Finally, it emphasizes the importance of timely execution through the problem identification and solution implementation process to avoid missed opportunities for organizations.
The document discusses the key steps in the business research process. It begins by defining business research as the systematic collection and analysis of data to aid business decision making. It then outlines the main steps as: 1) identifying problems or opportunities, 2) diagnosing the issues, 3) conducting research to explore solutions, and 4) implementing solutions. Finally, it emphasizes the importance of timely execution through the problem identification and solution implementation process to avoid missed opportunities for organizations.
The document discusses the key steps in the business research process. It begins by defining business research as the systematic collection and analysis of data to aid business decision making. It then outlines the main steps as: 1) identifying problems or opportunities, 2) diagnosing the issues, 3) conducting research to explore solutions, and 4) implementing solutions. Finally, it emphasizes the importance of timely execution through the problem identification and solution implementation process to avoid missed opportunities for organizations.
compilation, analysis, interpretation, and implication pertaining to any business problem. Business research is defined as the systematic and objective process of gathering, recording, and analyzing data for aid in making business decisions (Zikmund, 2007). Cooper and Schindler (2009) define business research as a systematic enquiry that provides Decision making is always a crucial part of any organizational functioning. In the field of business research, this valuable information is obtained using the following interrelated steps: 1. Problem or opportunity identification 2. Diagnosing the problem or opportunity 3. Executing business research to explore the solutions 4. Implement presented solutions Any delay in problem identification and solution implementation; and the opportunity identification and encashment may become harmful to the organization. Organizations present these problems or opportunity scenarios to business researchers. Business researchers actually diagnose the problem or opportunity. Diagnosing involves exploring the situation to have a better insight about the situation. 3. Executing Business Research to Explore the Solution After the identification and diagnosis of the problem, business researchers systematically conduct research to present a solution. 4. Implement Presented Solution Business researchers conduct research in consultation with the decision makers of the concerned organization. The findings are presented to the decision maker and he or she analyzes these findings in the light of his or her decision range. 5. Evaluate the Effectiveness of Decision Making
After taking a decision, its effectiveness is
examined. This is sometimes referred to as evaluation research. A well-defined study begins with a clearly defined problem
“The formulation of a problem is often more essential than its
solution” - Albert Einstein Problemformulation drives decisions related to…. • Research design Is exploratory research needed? Survey or experiment? • Measurement Study measures flow directly out of problem statement and research objectives • Sampling Can we obtain the sample necessary to answer the research questions Availability? Cost? This “first step” in the research process includes • Defining the problem • Developing research objectives • Developing hypotheses
Most important part of the research process
• But also one of the most difficult Problem is rarely “clear cut” Differentiatebetween a decision problem and a research problem Decision Problems Research Problems
Develop package for a new product Evaluate alternative package designs
Increase store traffic Measure current image of the store
Increase market penetration through the Evaluate prospective locations
opening of new stores
Decide which merchandise will be available Determine consumers’ confidence in
for purchase over the Internet purchasing different categories of products unseen Firststep is to invest in understanding the decision context • Time investment is significant if the research topic is outside the researchers area of expertise Eg, nontraditional conjoint study on the impact of social media on investment manager decisions Understand what is known and what is not • In depth discussions with decision makers • Exploratory research Lit reviews IDIs(In-depth Interview), focus groups, etc. with experts in the field Itis imperative to know what has been studied in order to advance knowledge in the area Try to develop a concise “statement” that clearly states the problem to be addressed by the research “Justification” for the research
This should be the specific research problem that the research will address • Not a “problematic situation” or broader problem area (eg, customer retention, decreasing market share)
Usually an iterative process with the client or decision
maker If possible, include… • What knowledge is needed • Who needs it • How it will be useful to make a decision 1.The problem was to investigate the effects of exercise on blood lipids among college-age females. 2.This study was designed to determine the relationship between stability performance and physical growth characteristics of preschool children. 3.The present study was designed to identify those characteristics which differentiate between students who drink and those that do not. 4.The problem of the study was to determine is there is a relationship between self-efficacy and self-reported alcohol usage among middle-aged adult females. Criteria for Identification of a Suitable Research Problem
1. The research problem should address an important question
so that the answer will make a difference.
2. The research problem should advance the frontiers of
knowledge by leading to new ways of thinking, suggesting possible applications, or paving the way for further research in the field. Situations to Avoid When Considering • Research A should projects Research not be Problem a ruse (an action intended to deceive someone) for achieving self-enlightenment.
• A problem whose sole purpose is to compare two sets of data is not
a suitable research problem.
• Calculating a correlation coefficient between two sets of data to
show a relationship between them is not acceptable as a problem for research.
• Problems that result in a yes or no answer are not suitable
problems for research. Finding a Legitimate Research Problem 1. Look around you.
2. Read the literature.
3. Attend professional conferences.
4. Seek the advice of experts.
5. Choose a topic that intrigues and motivates you.
6. Choose a topic that others will find interesting and
worthy of attention. Guidelines: Stating the Research Problem
1. State the problem clearly and completely.
2. Think through the feasibility of the project that the
problem implies.
3. Say precisely what you mean.
- Absolute honesty and integrity are the rule!
4. State the problem in a way that reflects an open mind
about its solution.
5. Edit your work.
Dividing the Research Problem Into Sub-problems
Sub-problem: the subparts of the main problem
that are an integral part of the main problem. vs. Pseudo-sub-problems: procedural issues that involve decisions that must be made before resolving the research problem and its sub- problems. Characteristics of Sub-problems
1. Each sub-problem should be a completely
researchable unit.
2. Each sub-problem must be clearly tied to
the interpretation of the data.
3. The sub-problems must add up to the
totality of the problem.
4. Sub-problems should be small in number.
Identifying Subproblems
• Take a paper-and-pencil approach.
• Use brainstorming software, such as:
- Inspiration - BrainStorm - MindJet Further Delineation (Action of Describing) of the Pro