1. Research Methods for Business

2. What is research ?
Process of finding solutions to a problem after a thorough study and analysis of the situational factors
Business research ?
organized, systematic, data-based, critical, objective, scientific inquiry or investigation into spesific problem, undertaken with the purpose of finding solutions or answers to it

3. Business research
Provides the necessary information that guides managers make informed decisions to successfully deal with problems
Information provided could be result of careful analysis of data gathered 1st-hand or already available
Data : quantitative vs qualitative
Examples of research areas in business  See Exhibit 1 – page 4

4. Types of business research
Basic / Fundamental / Pure Research
Applied Research

5. Basic / Fundamental / Pure Research
Research done chiefly to make a contribution to existing knowledge
The findings of research contribute to the building knowledge and understanding of phenomena and problems that occur in the various functional areas of business

6. Basic / Fundamental / Pure Research
They teach us something we didn’t know before
Usually later applied in organizational settings for problem solving

7. Applied Research
Research done with the intention of applying the results of the findings to solve spesific problems currently being experienced in an organization
Some applied research may have shorter time frame than some basic research
Examples of basic and applied reseach : see page 6 - 8

8. Managers & research
Managers w/ knowledge of research have an advantage over those w/o
Helps managers to ;
Identify and effectively solve minor problems
Know how to discriminate good vs bad research
Appreciate and be constantly aware of multiple factors
Take calculated risks in decision making
Prevent possible vested interest
Relate effectively with researchers and consultants
Combine experience w/ scientific knowledge

9. Researchers/consultants
Internal vs External
Advantages and disadvantages : see page

10. Ethics
Code of conduct or expected societal norm of behavior while conducting research (in each step of research process)
Journal of Business Ethics and the Business Ethics Quarterly
The American Psychological Association  guidelines for conducting research, to ensure that organizational research is conducted in an ethical manner and the interest of all concerned are safeguard