Transcript Research Methodology PowerPoint Slides for Week 01

RESEARCH
METHODOLOGY
(Business Research Methods)
Week 1
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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How This Course Will Be Conducted
 Comprehensive introduction to Research Methodology (Business Research
Methods)
 Knowledge acquisition and application of subject matter to real-life situations
 Course literature (see the „must read“ section)
 Use of multimedia visual aids (MS PowerPoint slides)
 Reference to case studies when desirable
 Encouragement of questions, comments and constructive criticism from course
participants
 Analytical and critical thinking, inquisitiveness as well as common sense from
course participants also expected
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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The DO‘s and DONT‘s Catalogue for Course Participants
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listen attentively
be considerate and amenable
be inquisitive, analytical and critical
in your approach to learning
research methodology
mention if you do not understand
something and seek clarification
read the prescribed course
literature. It is the basic
requirement for comprehending
research methodology and
succeeding in this course
start reading from the beginning
of the course and not towards the
end!
29 August 2005
MBA III (Research Methodology)
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be late to class. We start at 6 PM
PM sharp!
distract the attention of other
course participants
use mobile phones or send SMS
messages in the class
follow a rote-learning approach.
There is zero tolerance for this in
all classes taught at CIIT!
feel afraid to bring up any relevant
point for discussion
hesitate to visit me at my office,
individually or as a group, if you
have a course-related problem and
seek counseling in this regard
Course Instructor: Dr. Aurangzeb Z. Khan
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Fundamental Course Objectives
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To acquaint course participants with all salient aspects of research methodology in
accordance with the current body of scientific literature on this challenging, interesting
and indepensible area of management science
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To show that the subject of research methodology has matured into a substantive
body of knowledge, an indepth understanding of which is crucial for ensuring the
success of commercial or non-commercial organizations
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To show and encourage the course participants that the theoretical knowledge
acquired in this course can - with the appropriate context-related modifications - be
applied to numerous real-life situations in business, public-sector and non-profit
enterprises
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To stimulate interest in the business research field as a prospective career field
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
4
Demands on Course Participants
The essence of knowledge is having it to apply it - Confucius
 Acquisition and careful application of knowledge
 Analytical and critical thinking, innovation, inquisitiveness
 Holistic perspective
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Quizzes &
Sessionals
(proof that the course participant is familar with the essentials
of research methodology)
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Project Work
(each course participant is expected to show that he or she
is able to apply the research skills learned in this course)
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Examination
(case study in which each course participant is expected to
demonstrate his or her indepth understanding of research
methodology and apply the knowledge acquired in the course to a
real-life situation)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
5
Important Information for Course Participants – (1)
 You MUST read the course literature from the beginning of the semester.
Relying on the PowerPoint slides is NOT sufficient! The purpose of these
slides is to provide you with a broad and general introduction to research
methodology. Kindly note that the slides are intended as a supplement
to, and NOT as a substitute for the prescribed course literature
 The prescribed course literature will be used as a reference for the quizzes,
sessionals and final examination. Failure to read and understand the course
literature could mean that a course participant will fail the course! An
automatic passing grade in this course is NOT guaranteed, rather, a course
participant‘s marks will reflect his or her effort and performance in the
subject
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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Important Information for Course Participants – (2)
 The project work to be undertaken in this course will be chosen by the
course instructor and must be undertaken by the course participant
according to the project guidelines which will be distributed in paper form
seperately. It is essential that primary data is collected, analysed, evaluated
and recorded by the course participant in his or her project report.
Plagiarism will NOT be tolerated! If caught, zero marks will be given
 The course lectures, discussions etc. will be conducted exclusively in
english! The use of Urdu language in this course is strongly discouraged
 Specific questions on the subject of research methodology may be asked
from candidates in the Viva oral examination at the end of their MBA
programme. Failure to answer these questions will definitely result in a
deduction of examination marks
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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Course Highlights
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Introduction to research
methodology
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Research Terminology and the
Scientific Method
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Designing and implementing a
research project
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Ethics in Research
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Types of Research
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Measurements in Research
29 August 2005
MBA III (Research Methodology)
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Primary and Secondary Data
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Analyzing primary and
secondary data (quantitative
techniques)
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Communicating Research
Results
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Undertaking Research Project
by the course participants
Course Instructor: Dr. Aurangzeb Z. Khan
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Use of Multimedia Visual Aids in this Course
All MS PowerPoint course presentation slides, the
course outline, quizzes, the two sessionals and final
examination (after completion☺) supporting
eDocument files and the course participants’ project
reports will be uploaded to the yahoo webgroup CIIT –
Research Methodology, from where they will be
accessible via Internet to all course participants and
any other scholars or persons in Pakistan or overseas
who are interested in this CIIT – Research
Methodology course
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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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” (Zikmund, Business Research
Methods, 2002, p. 6)
• Systematicness and Objectivity are its
distinguishing features of Business Research,
which is important tool for managers and
decision-makers in corporate and non-corporate
organizations
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
10
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
hence aimed at improving the quality of
decision-making which, in turn, benefits
the organization and helps ensure its
continuity and efficiency
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
11
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
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
12
Common Business Research Methods &
Techniques
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Surveys
Interviews
Observation
Experiments
Archival and Historical Data
Qualitative Analysis
Quantitative Analysis
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
13
Fields Where Business Research is Often Used – (1)
General Business Conditions and
Corporate Research
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Short- & Long-Range Forecasting,
Business and Industry Trends
Global Environments
Inflation and Pricing
Plant and Warehouse Location
Acquisitions
Management and Organizational
Behaviour Research
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Financial and Accounting Research
Total Quality Management
Morale and Job Satisfaction
Leadership Style
Employee Productivity
Organizational Effectiveness
Structural ssues
Absenteeism and turnover
Organizational Climate
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MBA III (Research Methodology)
Forecasts of financial interest rate
trends,
Stock,bond and commodity value
predictions
capital formation alternatives
mergers and acquisitions
risk-return trade-offs
portfolio analysis
impact of taxes
research on financial institutions
expected rate of return
capital asset pricing models
credit risk
cost analysis
Course Instructor: Dr. Aurangzeb Z. Khan
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Fields Where Business Research is Often Used – (2)
Sales and Marketing Research
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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
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Corporate Responsibility Research
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29 August 2005
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
MBA III (Research Methodology)
Ecological Impact
Legal Constraints on advertising and
promotion
Sex, age and racial discrimination /
worker equity
Social values and ethics
Course Instructor: Dr. Aurangzeb Z. Khan
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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 organization’s priorities
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
16
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 focusses 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?
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
17
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
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
18
The Essence of the Scientific Method
Characteristics of the Scientific Method
Elements of the
Scientific Method
Basic
Research
Applied
Research
29 August 2005
Scientific
Method
Objectivity
Systematic Analysis
Logical Interpretation of Results
General Laws
Information or
Ideas for alternative
Courses of action
MBA III (Research Methodology)
Empirical Approach
Observations
Questions
Hypotheses
Experiments
Analysis
Conclusion
Replication
Course Instructor: Dr. Aurangzeb Z. Khan
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The Value of Business Research for Managers – (1)
Reduction of uncertainty and improvement in
the quality of decision-making with several
consequent advantages (e.g. strategic,
operational) and benefits for organizations
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
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
20
The Value of Business Research for Managers – (2)
(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.
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
21
The Value of Business Research for Managers – (3)
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
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
22
The Value of Business Research for Managers – (4)
Evaluation Research – It is the formal objective
measurement and evaluation of the extent which an
activity, project or programme has achieved its goal, and
the factors which influence performance (e.g. audits). It is
also the formal objective measurement and evaluation of
the extent to which on-going activities, projects or
programmes are meeting their goals (performancemonitoring research)
Examples of performance-monitoring research:
(1) Are railway passengers satisfied with the level of
service the railway company is providing? If not, then
research may need to be undertaken to ascertain the
reasons for customer dissatisfaction and propose
corrective measures
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
23
The Value of Business Research for Managers – (5)
(2) What are the trends in retail and wholesale sector?
Can research suggest new ways to improve efficiency
in purchase transactions?
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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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?
29 August 2005
MBA III (Research Methodology)
Undertake Business Research
Course Instructor: Dr. Aurangzeb Z. Khan
25
Value and Costs of Undertaking Business
Research
VALUE
COSTS
Decreased Uncertainty
Research Costs
Higher Likelihood of
Correct Decisions
Delay in Making
Business Decisions
Better Business
performance
Disclosure of
Information to Rivals
Higher Profits
Possibility of Error
Better Reputation
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
26
The Building Blocks of Research
KNOWLEDGE
Blend of information, experience and in-sights that
provides a framework that can be thoughtfully evaluated
when assessing new information or evaluating
relevant situations
INFORMATION
Determination of relationship amongst data with a
view to facilitating understanding of the phenomena,
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)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
27
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
• Integrateability into a broader global information or
decision-support system
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
28
Global Information Support Systems
A Global Information System may be defined as “ an
organized collection of computer hardware,
communication equipment, software, data, and
personnel designed to capture, store, update,
manipulate, analyze, and immediately display
information about worldwide business activities”
A Global Information System is a tool for providing past,
current and projected information on internal operations
and external activity. It organizes and integrates data
from production, operations, marketing, finance,
accounting and other business functions
(Zikmund, p. 22)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
29
Decision-Support System
• A computer-based system that helps decision makers
confront problems through direct interaction with
databases and analytical software programs
• The purpose of a decision support system is to store
data and transform them into organized information that
is easily accessible to decision-makers
• Decision-Support Systems are integrated in Global
Information Systems. They are aimed usually for
assisting managers and decision-makers in specific
organizational business units (e.g. divisions,
departments and functional areas) by providing
organized and adaptable information
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
30
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 decisionmakers
• Data Warehousing & Data Mining
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
31
Data and Information Sources for Business
Researchers – (1)
 Internal Records
Example: Data about costs, shipments, inventory, sales, and other aspects
of regular operations which are collected from various functional areas of an
organization
 Proprietary Business Research
Example: New data and information from projects which are undertaken ad
hoc to study specific company problems
 Business intelligence Systems
Example: Information about nonrecurring developments in the external
business environment stemming from a network of sources and regular
procedures
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
32
Data and Information Sources for Business
Researchers – (2)
 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
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
33
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)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
34
Data and Information Sources for Business
Researchers (Pakistan)
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Federal and provincial ministries of commerce, industries and production
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Federal, provincial and city Chambers of Commerce and Industry
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State Bank of Pakistan, Pakistan Banking Council, local and foreign banking
institutions
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Stock Exchanges
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National Investment Board
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Export Promotion Bureau
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Manufacturers, Traders and Exporters Associations
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Research Institutes (e.g. Pakistan Institute of Development Economics)
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Newspapers and Magazines (e.g. Business Recorder, Pakistan and Gulf
Economist)
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Business and Trade Directories
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Internet (e.g.: www.forexpk.com)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
35
Business Recorder
(www.brecorder.com)
29 August 2005
MBA III (Research Methodology)
Course Instructor: Dr. Aurangzeb Z. Khan
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