Lecture #01

Business Research Methods

Instructor:
Muhammad Yasir Rafiq M.Sc, M.Phil (Statistics) G.C.University, Lahore

yasir.stats@gmail.com
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Main Text Book : Uma Sekaran (2003). Research Methods for Business A skilled Building Approach 4th E. Jhon Wiley. New York Refrence Books:
Cooper R. D. & Schindlerldi, S. P. (2006). Business Research Methods 9e. McGraw. Hill

William G .Zikmund Business (2002) Research Methods, 7th edition. Thomson. South Western Business Research Methods By C.William Emory Research Methodology by Ranjit Kumar Marketing Research by AAker, Kumar
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Objectives of the course

This course will enable the students to 1.Sharpen the analytical (logical, argument) skills 2.Develop understanding of the research concerns 3.Conduct research by applying whole steps
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Contents
Introduction to Business Research Scientific Methodology Construction of Research process, proposal & Design Sampling, its types and size of sample Sources of Data Collection -merits & De-merits Measurement: Scaling, Reliability, validity, Data entry, coding, editing (SPSS), Preparation of code book Data Analysis (Quantitative Data Analysis, Qualitative Data Analysis) Interpretation of Data Research report
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Assessment Details

Quizzes / Presentations Acceptance of Research Paper

(30%) (40%)

Final term

(30%)

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Course Regulations & Requirements

1.Not allowed to change the assigned topic/ group at any case. 2.Presentation date will not be extended. 3.Plagiarism and cheating will not be tolerated 4. Late assignments will not accepted. 5.Please turn off your cell phones 6.Please come to class before teacher
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Web- Sources
http://www.gallup.com
http://managementhelp.org/research/research.htm

http://www.researchmethods.org/
http://www.socialresearchmethods.net/ http://www.google.com

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Data Sources
1.

www.sbp.org.pk/

2.www.statpak.gov.pk/depts/index.html

3.www.kse.com.pk
4.www.imf.org/external/index.htm

5.www.worldbank.org/
6.www.un.org/
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List of Foreign Journals

S.No. Name of Journal Frequency

1 2 3 4 5 6 7 8 9

Business Business Week Foreign Affairs Foreign Policy Fortune Harvard Business Review Journal of Consumer Research Journal of Marketing Journal of Marketing Research

Fortnightly Weekly Bi-Monthly Bi-monthly Bi-Weekly Monthly Quarterly Quarterly Quarterly

10
11 12

News Week
Psychology Today The Economist

Weekly
Bi-Monthly Weekly

13
14

The Mckinsey Quarterly

National Geographic

Quarterly
Monthly

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List of Pakistani Journals

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Civil Law Cases Brand Wagon Blue Chip Business Review(IBA) Economic Outlook Economic Review Flare Herald Hiba Industrial Relations Journal Investment & Marketing Marketing Review New Horizon News line & G. Economist Development Review Tax Decisions Textile Journal Spider South Asian Journal Supreme Court Monthly Review Trade Chronicle Triple Bottom Line All Law Decisions Monthly Bi-Monthly Monthly Quarterly Monthly Bi Annual Monthly Monthly Monthly Monthly Bi Monthly Fort Nightly Monthly Quarterly Monthly Monthly Weekly Quarterly Monthly Monthly Monthly Quarterly Monthly Monthly Bi-Monthly

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What is Research!!!
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What is RESEARCH?

RESEARCH is composed of 2 words. RE is a prefix meaning again, anew or over again. SEARCH a verb meaning to examine closely and carefully, to test and try, or to probe or study thoroughly.

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Definitions of Research

The main goal of research is the gathering and interpreting of information to answer questions (Hyllegard, Mood, and Morrow, 1996). Research is a systematic attempt to provide answers to questions (Tuckman, 1999). Research may be defined as the systematic and objective analysis and recording of controlled observations that may lead to the development of generalizations, principles, or theories, resulting in prediction and possible control of events (Best and Kahn, 1998). Research is a systematic way of asking questions, a systematic method of inquiry (Drew, Hardman, and Hart, 1996).

A concise Definition:

Research is one of the ways to find answers to your questions. Research is the process of finding solutions to a problem after a thorough study and analysis of the situational factors.

Status in a society
In a society, we act either as a 1.In Familyfather/mother/brother/sister 2.Student/teacher 3.Head of department/Registrar/Dean

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contd.

Status in a society
4.Employee/un-employed/self business/
5.Manager/Sale /Operation /Marketing

6.Executives
7.Sportsman/sportswomen 8. Industry/Banking/Cement/Cars
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Undesirable situations
In our daily life, we face a lot of undesirable situations, following are some examples

1.Very poor result of B.B.A of The University of Lahore this year. 2.Pakistan is not a polio free country after a lot vaccination campaign
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contd.

Undesirable situations
3.In Pakistan overall Public transport facilities are very poor and extremely poor for females 4.In Pakistan, poverty is increasing day by day 5.Utilities are going to be out of range from poor peoples of Pakistan
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contd.

Undesirable situations
6.High inflation, interest rates high 7.Trade gap is increasing 8.Literacy rate declining 9.Unemployment is increasing
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contd.

Undesirable situations
10. Growth of population 11.Awareness about health care in rural areas

12. Performance of Pakistani Cricket team

13.Education system 14.Shortage of power supply
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contd.

Undesirable situations
15.Brain drain 16. Crises of wheat/sugar/water----

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Questions come to mind (Curiosity)

In our routine life many questions come to our mind, like

1.Why girls performance in different exams are better than boys. What factors leading them. 2.Why girls enrollment in universities is increasing. 3.Why deposit rates are so little
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contd.

Questions come to mind (Curiosity)

4.Public awareness about the consequences of Diabetes, cholesterol ,smoking and aids etc 5. Ratting of our Universities Many more questions like this

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Business Research

Business research can be described as a systematic and organized effort to investigate a specific problem encountered in the work setting, that needs a solution. It comprises a series of steps designed and executed , with the goal of finding answers to the issues that are of concern to the manager in the work environment

Business Research

To know where the problem areas exist in the organization, and to identify as clearly and specifically as possible, the problems that need to be studied and resolved. To gather information, analyze the data, and determine the factors that are associated with the problem and solve it the necessary corrective measures.

Business Research

To know where the problem areas exist in the organization, and to identify as clearly and specifically as possible, the problems that need to be studied and resolved. To gather information, analyze the data, and determine the factors that are associated with the problem and solve it the necessary corrective measures.

Business Research

This entire process by which we attempt to solve problems is called research. Thus, research involves a series of wellthought-out and carefully executed activities that will enable the manager to know how organizational problems can be solved.

Final Definition (Comprehensive)

Research is an organized, systematic, data-based, critical, objective, scientific enquiry/investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it.

Basic vs. Applied Research

Basic

Applied

Pure, fundamental research Discovery of new knowledge; theoretical in nature Takes many years for the results of basic research to find some practical utility

Central purpose to solve an immediate problem Improved products or processes Infers beyond the group or situation studied Interpretation of results relies upon Basic research

Examples of basic research

Boyles law if the temperature remains constant, the volume of confined gas is inversely proportional to the pressure 1. Charles law the volume of a dry gas is directly proportional to the Kelvin temperature, provided the pressure remains constant 2. Archimedes principle an object in a liquid will experience a bouyant force just equal to the weight of the liquid displaced 3. Newtons law a body in motion will continue to move with the same velocity in a straight line unless acted upon by an external force 4. Hookes law within the limit of perfect elasticity, strain is directly proportional to the stress

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2. Applied Research

This type of research involves seeking new applications of scientific knowledge to the solution of a problem, such as the development of a new system or procedure, new device, or new method in order to solve the problem. The problem is identified and a new system or new method is applied in order to solve the problem. Applied research produces knowledge of practical use to man.
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Question # 1

Please write at least 5 undesirable situations about which you are interested to get answers

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Application of Business Research It is primarily conducted to resolve problematic issues in or interrelated among, the areas of business. 1. Marketing 2. Management 3. Accounting 4. Finance
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Marketing: Branding image, advertising, after sale services, Consumer preferences, new product development etc. Management: Employees attitude and behavior, human recourses management, impact of changing demographic on management practices, production operations.

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Accounting: budget control system, Practices and procedure, inventory costing method, Cash recovery, taxation Planning. Finance: Operation of financial institutions, financial ratios, merger , leverage, mortgage, acquisition etc.
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Value of Research

Research provide knowledge Research gives pleasure of solving problems Helps in generating theories and models Helps in developing methodologies Research help for better living

What is Good Research?

Following the standards of the scientific method Purpose clearly defined Research process detailed Research design thoroughly planned Limitations frankly revealed High ethical standards applied
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What is Good Research?

(cont.)

Following the standards of the scientific method (cont.) Adequate analysis for decisionmakers needs Findings presented unambiguously Conclusions justified Researchers experience reflected
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Determining When to Conduct Business Research

Availability of Data Benefits Time Constraints Nature of the Decision vs. Costs
Is sufficient time available before a managerial decision must be made?
Yes

Is the information already Yes on hand inadequate for making the decision?

Is the decision Yes of considerable strategic or tactical importance?

Does the value of the research Yes information exceed the cost of conducting research?

Conducting Business Research

No

No

No

No

Do Not Conduct Business Research

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Potential value of a business research effort should exceed its estimated costs
Costs Value
Decreased Uncertainty Increased Likelihood of a Correct Decision Improved Marketing Performance and Resulting Higher Profits Research Expenditures Delay of Marketing Decision and Possible Disclosure of Information to Rivals Possible Erroneous Research Results

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INTERNAL RESEARCHERS
Advantages

Better acceptance from staff Knowledge about organization Would be an integral part of implementation and evolution of the research recommendations. Less fresh ideas Power politics could prevail Possibility not valued as experts by staff. 41

Disadvantages

EXTERNAL RESEARCHERS
Advantages

Divergent and convergent thinking Experience from several situations in different type of organizations. Better technical training, usually. Take time to know and understand the organizational system. Rapport and corporation from staff not only easy. Not available for evaluation after 42 implementation cost.

Disadvantages

Mans major problems and needs demand RESEARCH "The secret of success is to know something nobody else knows. "
Aristotle Onassis

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