Business research - Is a systematic process of answering a question or a problem, involving the

methodical formulation of a theoretical framework and methodology; collection, analysis, and

interpretation of pertinent data; and presentation or recommendations from which courses of action
can be taken.
Types:
1. Feasibility Studies
An analysis and evaluation of a proposed business to determine if it is technically feasible,
profitable, and viable within the estimated project cost.
If the investigation reveals that the business venture is not feasible, then the project should not
be pursued
2. Business Plans
If a feasibility study reveals that a proposed business is viable then drawing up a Business Plan
can pursue the venture further.
A business plan is an essential roadmap for business success.
This document projects 3-5 years ahead and outlines the route a company intends to take in its
journey to profitability.
3. Industry Studies
Involves the extensive review of the economic, political, market, and other strategic factors that
influence the manner by which an industry develops.
4. Corporate Strategies
For established businesses, a corporate strategy paper or corporate plan maps out specific
courses of action that will generate higher revenues and increased profits.
Many strategy papers are made in response to a steady decline in market share, revenues, or
profits.
5. Case Studies
A business case study confronts researchers with a real-life situation and engages their abilities
to solve its challenges.
Popular topics for business case studies include conflict management, leadership style,
corporate social responsibility, job satisfaction, and employee motivation.
6.

Steps

Basic Research
Also called pure research or fundamental research.
Is driven by curiosity and more focused on understanding a concept or phenomenon.
The practical application of the results are not as important as expanding ones understanding
of a specific phenomenon.
in Business research:
Identify Problem
State Problem & Objectives
Theoretical Framework
Research Methodology
Collection, Analysis, Interpretation of Data
Conclusion
Recommendations
Implementation

Ethics
norms or standards of behavior that guide moral choices about our behavior and our
relationships with others.
The goal of ethics in research is to ensure that no one is harmed or suffers adverse
consequences from research activities.
Unethical activities are pervasive and include many types of activities.
Types

of ethical violations:
Violating Disclosure agreements
Breaking confidentiality
Padded invoices
Misrepresenting results

Deceiving participants
Avoiding legal liability

Ethical approaches:
1. Deontology advocates that ethical behavior should be directed by duties regardless of the
positive circumstances that might result from behavior that is in contradiction to the duty. An
example might be Do not lie, even when lying might result in a positive outcome.
2. Ethical relativism is based on an individuals sense of morality. Therefore, each person decides
for his or herself what is ethical behavior. A middle ground is necessary and provided through
ethical standards of behavior for researchers.
Ethical treatment of participants:
Explain study benefits should be careful not to overstate or understate the benefits
Explain participant rights and protections
Obtain informed consent participant has given full consent to participation after receiving full
disclosure of the procedures of the proposed study.
Ethical responsibilities:
Special guidelines apply to children!
Informed consent means parental approval.
Special consideration is necessary when researching the behavior and attitudes of children.
Besides providing informed consent, parents are often interviewed during the selection process
to ensure that the child is mature enough and has the verbal and physical capabilities
necessary.
Participant Confidentiality
All individuals have a right to privacy, and researchers must respect that right.
Once a guarantee of confidentiality is given, protecting that confidentiality is essential.
1. Obtaining signed nondisclosure documents only researchers who have signed nondisclosure
forms should be allowed access to the data.
2. Restricting access to participant identification.
3. Revealing participant information only with written consent.
4. Restricting access to data instruments where the participant is identified.
5. Nondisclosure of data subsets.
o Methods 2-5 deal with minimizing the chance for a participant to identified and matched with
his or her responses.
o Links between data and identifying information must be minimized.
o Interview response sheets should be inaccessible to everyone except the editors and data
entry personnel.
o Data collection instruments may be destroyed once data are in a data file.
o For very small groups, data should not be made available if it would be easy to pinpoint a
person in the group.
Right to privacy:
o Right to refuse
o Prior permission to interview
o Limit time required
Confidentiality:
o Sponsor nondisclosure
o Purpose nondisclosure
o Findings nondisclosure
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Problem
- a felt need, a question thrown forward for solution
- A situation where a gap exists between the actual and the desired ideal state
- A hypothesis or question of interest to business people and managers that can be tested or
answered through the collection or analysis of data
Strategies to identify research problem
- Surf the Internet
- Read the Literature
- Inquire from Business Practitioners
- Interview Business Leaders

Ask Recognized Academicians

Attend Conferences/Fora/Symposia
Conduct an Internal/External Audit of a business establishment

CRITERIA FOR PROBLEM SELECTION

- Newness of Topic
- Qualifications of Researcher
- Availability of Data
- Time Constraint
- Availability of Resources
- Significance of Topic
Criteria for formulating research problem
- Research problem in question form
- Name specific problem area
- Topic is phrased in manageable terms
- Scope is limited to realistic parameters
- Words used are unbiased & objective
- Relationship between variables are clear
- Phrases & words used are measurable
- Problem identifies the data & techniques needed to answer the question
- Problem is grammatically correct
Criteria for research objectives
- Relationships to be tested must be clear
- Stated in Declarative Form
- Variables are stated clearly
- Objectives must be related to problem
- Scope must be attainable
- Concepts must be measurable
Beneficiaries of research
Individual Level
1. Researchers
2. Students
3. Employees
4. Managers
5. Entrepreneurs

Organizational Level
1. Firms
2. Industry
3. Associations
4. Schools
5. Funding Agencies

Scope and limitations of the study:

Variables
Sources of Data
Methods of Data Collection & Analysis
Timeframe
Constraints
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RRL - Involves the comprehensive documentation

Other
1.
2.
3.
4.
5.

and evaluation of scholarly materials

relevant to the research problem.

IMPORTANCE OF THE REVIEW OF RELATED LITERATURE
Serves as a source of research problems
Ensures that relevant variables are not overlooked
Establishes the need/justification in conducting study
Provides a historical background about the study
Serves as basis for theoretical/conceptual framework
Shows if the same study has already been done before
Helps give more focus and clarity to the study
Acquaints the reader with previous studies done
GUIDELINES IN UNDERTAKING LITERATURE REVIEW
Identify the relevant data sources.
Develop a systematic procedure of note-taking in reviewing literature.
Write a concise review of related literature following the APA format.
IDENTIFY RELEVANT DATA SOURCES

Beneficiaries
Government
Communities
Consumers
Suppliers
Investors

Scholarly books
Scholarly/Academic journals
Authoritative databases
Newspapers
Magazines
Audio & Video tapes
TV/Radio programs
What is known about my topic/research
question?

What is the historical background or

chronology of events that led to my
topic/research question?
How much information is available
regarding the variables I am
investigating?
Are there any research gaps which my
study intends to fill upon its completion?

DEVELOP A SYSTEMATIC PROCEDURE OF NOTE-TAKING

Read and re-read your chosen literature many times. If you dont, it will
show!
Highlight the major points you want to include in your LR.
Summarize or paraphrase the content of the article you chose to include in
your LR.
DO NOT forget to cite the source/s of your LR.
WRITE A CONCISE REVIEW FOLLOWING THE APA FORMAT
INTRODUCTION: Identify the general topic under discussion/
BODY: Group the sources according to some common theme (by approach,
chronology or time, or by variable)
CONCLUSION: Summarize the contributions made by your sources to the
topic/study you are conducting.
IMPORTANT: Acknowledge all your sources using the latest APA
style of citation.