BUS 307 BUSINESS RESEARCH METHODS

Lecturer: Mariyam Niyaf

Contact: 3345475
E-mail address: mariyam.niyaf@mnu.edu.mv
Assessment Method

11.1. Assessment Schedule

The assessments for this subject are as follows:

To obtain a pass in this subject, students must:
1.Complete all assessment components; and
2.Obtain a minimum of 50% in the final examination.

Components Weightings Assessment Date Due

Research Proposal 15% Individual End of Block 2

Analytical Report 25% Groups of 4 End of Block 3

Presentation 10% Same groups End of Block 3

Final Examination 50% During the examination

Individual
week

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Assessment Details

Research Proposal: Individual assignment, on a topic of the

students choice (confirmed with the lecturer)

Analytical Report and Presentation: In groups of 4, Data sets

and questionnaires used for data collection will be provided
with a set assignment

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Research Proposal
Weighting: 15%
Due Date: End of Block 2

Suggested Proposal Outline

Title [plus a content page]
Introduction
Context or situation statement
Problem or issue
Purpose of the inquiry and the rationale of its importance
Key stakeholders and audience
Possible research questions
Groups or sample
Data gathering techniques
Suggested analysis procedures
Limitations
Ethical issues
Draft timeline
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 Final Report
Weighting: 25%
Due Date: End of Block 3
The report must be word processed and in a spiral [or like] bound format.
The report must be written in clear English and demonstrate coherence and
develop linkages between each part.
The report must be about 6,000 - 8,000 words.
The report could follow the following [or a similar acceptable] structure:
Title page
Executive Summary
Table of contents
Introduction, which includes:
a general overview of the problem requiring the research
a brief statement on the items listed in the project proposal
a brief literature review
a statement of the specific research question
Methods used to answer the question
Results
Conclusions (summary, overall evaluation, & recommendations)
References
Annexes

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Seminar Presentations
Weighting: 10%
Due Date: End of Block 3

Requirements:
The teams will be required to give a 20 minute presentation
of the major findings from their inquiry.
The presentations should include a brief overview of the
context and the research question(s), and analysis major
findings and recommendations
allow time [10 minutes] for questions and discussions of
the issues and recommendations
a two page executive summary available for all those
attending the seminar.

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Final Exam
50% weight
3 hours closed book exam
MCQ
Structures Questions

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BUS 307 BUSINESS RESEARCH
METHODS

Lecture 1: Introduction to Research

 https://www.youtube.com/watch?v=yt6XXDF7xaQ

https://www.youtube.com/watch?v=r9fkSzdLf7M

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It aint the things that we dont know that gets us in trouble. Its the

things we know that aint so (19th century American humorist

Artemus Ward)

The secret of success is to know something that no body else

knows (Aristotle Onassis)

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Why study research?

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What is research?

the systematic investigation into and study of materials and

sources in order to establish facts and reach new
conclusions.

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What is Business Research?

Business Research may be defined as the

systematic and objective process of

gathering,

recording and

analyzing data

for aid in making business decisions

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When is Business Research Used?
Typically, business research methods are used in situations of
Uncertainty, that is, when decision-makers face two or more
courses of action and seek to select the best possible alternative
under the circumstances.

Business Research is aimed at

improving the quality of decision-
making which, in turn, benefits the
organization and helps ensure its
continuity and efficiency

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Typical Users of Business Research Methods

Businesses and Corporations

Public-Sector Agencies

Consulting Firms

Research Institutes

Non-Governmental Organizations

Non-Profit Organizations

Independent Researchers and Consultants

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Common Business Research Methods &
Techniques

Surveys

Interviews

Observation

Experiments

Archival and Historical Data

Qualitative Analysis

Quantitative Analysis
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 Fields Where Business Research is Often Used
General Business Conditions and
Corporate Research

Short- & Long-Range Forecasting,

Business and Industry Trends Financial and Accounting Research

Global Environments
Inflation and Pricing Forecasts of financial interest rate trends,
Plant and Warehouse Location Stock,bond and commodity value predictions
Acquisitions capital formation alternatives
mergers and acquisitions
risk-return trade-offs
Management and Organizational
Behaviour Research portfolio analysis
impact of taxes
Total Quality Management
research on financial institutions
Morale and Job Satisfaction expected rate of return
Leadership Style capital asset pricing models

Employee Productivity credit risk

cost analysis
Organizational Effectiveness

Structural ssues

Absenteeism and turnover

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Organizational Climate
 Fields Where Business Research is Often Used
Sales and Marketing Research
Market Potentials
Market Share
Market segmentation
Market characteristics
Sales Analysis
Establishment of sales quotas
Distribution channels
New product concepts
Test markets
Advertising research
Buyer behaviour
Customer satisfaction
Website visitation rates
Information Systems Research
Knowledge and information needs assessment
Computer information system use and evaluation
Technical suppot satisfaction
Database analysis
Data mining
Enterprise resource planning systems
Customer relationship management systems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and promotion
Sex, age and racial discrimination / worker equity
Social values and ethics
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Selected Examples of Real-Life Situations in Which
Business Research Methods are Used

A firm wants to produce and market a new product but first wants to ascertain
if there is a potential consumer demand for this product in markets x,y and z
a multinational firm wants to establish a production facility in another country
after determining its technical and economic feasibility
A government agency wants to ascertain the satisfaction level of its
employees, the causes for any possible discontent, and propose a scheme for
enhancing this level
A financial institution wants to invest in commodities and commissions a study
to determine the past trends and forecast future returns in a portfolio of
commodities
The CEO of a firm wants to undertake a SWOT-Analysis as part of his plan to
redefine his organizations priorities

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Basic and Applied Research

Basic Research aims to expand the frontiers of science and

knowledge by verifying or disproving the acceptability of a given
theory or attempting to discover more about a certain concept (non-
specificity)

Example: How does motivation affect employee performance?

Applied Research focuses on a real-life problem or situation with a

view to helping reach a decision how to deal with it (Specificity)

Example: Should Corporation X adopt a paperless office environment?

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Applied Research (examples)
Should Mary brown Maldives add Italian pasta dinners to its
menu?

Should Coca-Cola Maldives add Lemon Tea to its product line?

Research showed King-size mattresses would sell at a retail

price of Rf 7000.

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Basic and Applied Research

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 Science and the Scientific Method

Science has been defined as the methodological and

systematic approach to acquisition of new knowledge
(Geoffrey Marcyzk, David DeMatteo, David Festinger, Essentials
of Research Design and Methodology, John Wiley & Sons, 2005,
p. 4)

The scientific method, which has evolved since the 13th

century, concerns the set of tools, techniques and
procedures used by basic and applied researchers to
analyze and understand phenomena and prove or
disprove prior conceptions

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 Scientific Method
The analysis and interpretation of empirical
evidence (facts from observation or
experimentation) to confirm or disprove prior
conceptions.

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The Essence of the Scientific Method

Characteristics of the Scientific Method

Elements of the
Objectivity Scientific Method
Systematic Analysis
Logical Interpretation of Results

Empirical Approach
Observations
Questions
Hypotheses
Basic Experiments
General Laws
Research
Scientific

Analysis
Method

Conclusion
Replication
Applied Information or
Research Ideas for alternative
Courses of action

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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 decision-

makers needs
Findings presented
unambiguously
Conclusions justified
Researchers experience
reflected

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 When Should Business Research be Undertaken?

Is sufficient time
available?

Yes

Is information
inadequate? NO Do not
undertake Business Research
Yes

High importance
of decision?

Yes

Research benefits
greater than costs? Undertake Business Research

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Value and Costs of Undertaking Business
Research

VALUE
COSTS

Decreased Uncertainty Research Costs

Higher Likelihood of Delay in Making
Correct Decisions Business Decisions
Better Business Disclosure of
performance Information to Rivals
Higher Profits Possibility of Error
Better Reputation

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 The Building Blocks of Research

Blend of information, experience and in-sights that

KNOWLEDGE provides a framework that can be thoughtfully evaluated
when assessing new information or evaluating
relevant situations

Determination of relationship amongst data with a

view to facilitating understanding of the phenomena,
INFORMATION
their relationships and decision-making
(e.g. past and predicted future sales trends)

DATA Measurements of phenomena

(e.g. sales statistics of a department store)

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The Value of Business Research for Managers

Reduction of uncertainty and improvement in

the quality of decision-making with several
consequent advantages (e.g. strategic,
operational) and benefits for organizations

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 Business Research Methods can be employed in each of
the following four stages:
(1) Identification of problems and/or opportunities
Useful for strategy planning, analysis of internal and external organizational
environment

(2) Diagnosing and Assessment of problems and/or opportunities

Its purpose is to gain insight into the underlying reasons and causes for the
situation. If there is a problem, it asks what happened and why? If there is an
opportunity, it seeks to explore, clarify and refine the nature of the opportunity
and, in the case of multiple opportunities, seeks to set priorities

(3) Selection and Implementation of Courses of Action

After alternative courses of action have been determined, selection of the best
possible course. An important consideration is the quality of forecasting which is
an essential tool of research
(4) Evaluating the Course of Action
Business Research Methods are used after a course of action has been
implemented in order to determine whether activities have been properly
implemented and have accomplished what they intended to do 32
The Manager-Researcher Relationship
Managers obligations
Specify problems
Provide adequate background information
Access to company information gatekeepers
Researchers obligations
Develop a creative research design
Provide answers to important business
questions

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Manager-Researcher Conflicts

Managements limited exposure to research

Manager sees researcher as threat to personal status
Researcher has to consider corporate culture and political situations
Researchers isolation from managers

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Demands on Data & Information

Relevance to the problem or situation at hand

Must be available in a timely manner to the right person (manager
or decision-maker)
Completeness
Accuracy
Accessibility
Affordability
Ability to Integrate into a broader global information or decision-
support system

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Databases & Software

Databases are collections of raw data which

have been arranged in a logical manner and
which can be stored and processed
electronically

Software are programmes that allow complex

operations to be undertaken on data and which
give information for managers and decision-
makers

Data Warehousing & Data Mining

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Data and Information Sources for Business
Researchers

On-Line Databases

Examples: PROQUEST, INFOTRAC, DIALOG, LEXIS-NEXIS, Dow Jones News

Retrieval Services, CompuStat

Internet

Examples: World Wide Web search engines (Google, Yahoo, Altavista, Lycos,
Excite etc.)

All Other Sources

Examples: Research Institutions, Libraries, Books, Journals, Periodicals,

Newspapers, Chambers of Commerce and Industry

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Business Research in the International Context

Business Research is being increasingly applied in an international

context in the wake of globalization and the consequent freedom of
movement of the resources of labour, capital and information of
businesses and corporations:

Overseas market potential

Joint ventures and relocating production lines overseas
Framework considerations for investment and trade (e.g.
culture, legal environment, security, physical infrastructure,
availability and quality of human resources, logistics, political
stability, trade and investment incentives)

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Data and Information Sources for Business
Researchers (Maldives)

Ministry of Economic Development

Maldives Monetary Authority
Banks
Capital Market Development Authority
Presidents Office
Ministry of Finance
National Bureau of Statistics
City Councils, Atoll / Island Councils
Newspapers and Magazines
Business Directories
Internet (www.maldivesstockexchange.com.mv)

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Texts and References
Cooper D R. & Schindler (2011), Business Research Methods,
(11th ed), McGraw Hill

Saunders, M., Lewis, P. and Thornhill, A. (2012), Research Methods

for Business Students (6th ed), Peason Education Limited.

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Tutorial

Whats Research? Discuss!!!

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