Lecture -1 Mba

Business Research Methods

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

[email protected] by: Muhammad Yasir Rafiq

Lecture #01

Main Text Book :

Uma Sekaran (2003). Research Methods for Business – A skilled – Building Approach 4th E. Jhon Wiley. New YorkRefrence Books:Cooper R. D. & Schindlerldi, S. P. (2006). Business Research Methods 9e. McGraw. HillWilliam G .Zikmund Business (2002) Research Methods, 7th edition. Thomson. South – Western Business Research Methods By C.William Emory Research Methodology by Ranjit KumarMarketing Research by AAker, Kumar

Compiled by: Muhammad Yasir Rafiq

Objectives of the course

This course will enable the students to1.Sharpen the analytical (logical, argument) skills 2.Develop understanding of the research concerns3.Conduct research by applying whole steps


Contents Introduction to Business Research Scientific Methodology Construction of Research process, proposal &

DesignSampling, its types and size of sample Sources of Data Collection -merits & De-meritsMeasurement: 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


Assessment Details

Quizzes / Presentations (30%)

Acceptance of Research Paper (40%)

Final term (30%)


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



Web- Sourceshttp://www.gallup.com

http://managementhelp.org/research/research.htm

http://www.researchmethods.org/

http://www.socialresearchmethods.net/

http://www.google.com

Data Sources1. 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/


List of Foreign Journals

S.No. Name of Journal Frequency

1 Business Fortnightly

2 Business Week Weekly

3 Foreign Affairs Bi-Monthly

4 Foreign Policy Bi-monthly

5 Fortune Bi-Weekly

6 Harvard Business Review Monthly

7 Journal of Consumer Research Quarterly

8 Journal of Marketing Quarterly

9 Journal of Marketing Research Quarterly

10 News Week Weekly

11 Psychology Today Bi-Monthly

12 The Economist Weekly

13 The Mckinsey Quarterly Quarterly

14 National Geographic Monthly


List of Pakistani Journals

1 All Law Decisions Monthly

2 Bi-Monthly

3 Civil Law Cases Monthly

4 Brand Wagon Quarterly

5 Blue Chip Monthly

6 Business Review(IBA) Bi Annual

7 Economic Outlook Monthly

8 Economic Review Monthly

9 Flare Monthly

10 Herald Monthly

11 Hiba Bi Monthly

12 Industrial Relations Journal Fort Nightly

13 Investment & Marketing Monthly

14 Marketing Review Quarterly

15 New Horizon Monthly

16 News line Monthly

17 & G. Economist Weekly

18 Development Review Quarterly

19 Tax Decisions Monthly

20 Textile Journal Monthly

21 Spider Monthly

22 South Asian Journal Quarterly

23 Supreme Court Monthly Review Monthly

24 Trade Chronicle Monthly

25 Triple Bottom Line Bi-Monthly


What is Research!!!


Compiled by: Muhammad Yasir Rafiq 12

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.

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).

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.

A concise Definition:

Status in a society

In a society, we act either as a1.In

Family-father/mother/brother/sister

2.Student/teacher3.Head of

department/Registrar/Dean

contd….Compiled by: Muhammad Yasir Rafiq

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


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



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



6.High inflation, interest rates high

7.Trade gap is increasing

8.Literacy rate declining

9.Unemployment is increasing



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 supplycontd….Compiled by: Muhammad Yasir

Rafiq


15.Brain drain

16. Crises of wheat/sugar/water----


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


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


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

This entire process by which we attempt to solve problems is called research.

Thus, research involves a series of well-thought-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

Pure, fundamental research

Discovery of new knowledge; theoretical in nature

Takes many years for the results of basic research to find some practical utility

Applied 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

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Examples of basic research

Boyle’s lawBoyle’s law “if the temperature remains constant, the volume of

confined gas is inversely proportional to the pressure”1.1. Charles’ lawCharles’ law

“the volume of a dry gas is directly proportional to the Kelvin temperature, provided the pressure remains constant”

2.2. Archimedes principleArchimedes principle“an object in a liquid will experience a bouyant force just

equal to the weight of the liquid displaced” 3.3. Newton’s lawNewton’s law

“a body in motion will continue to move with the same velocity in a straight line unless acted upon by an external force”

4.4. Hooke’s lawHooke’s 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.

Question # 1

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


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Application of Business ResearchIt is primarily conducted to resolve problematic issues in or interrelated among, the areas of business.

1. Marketing2. Management3. Accounting4. 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.

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

Following the standards of the scientific method Purpose clearly defined Research process detailed Research design thoroughly

planned Limitations frankly revealed High ethical standards applied

What is Good Research?


What is Good Research? (cont.)

Following the standards of the scientific method (cont.)

Adequate analysis for decision-maker’s needs

Findings presented unambiguously Conclusions justified Researcher’s experience reflected


Determining When to Conduct Business Research

Is sufficient time available before

a managerial decision

must be made?

Is the infor-mation already

on handinadequate for making

the decision?

Is the decision of considerable

strategicor tactical

importance?

Does the value of the research

informationexceed the cost of conducting

research?

ConductingBusinessResearch

Do Not Conduct Business Research

Time ConstraintsAvailability of

Data Nature of the DecisionBenefits vs. Costs

Yes YesYesYes

No No No No


Potential value of a business research effort should exceed its estimated costs

Value

Decreased UncertaintyIncreased Likelihood of a Correct DecisionImproved Marketing Performance and Resulting Higher Profits

CostsResearch ExpendituresDelay of Marketing Decision and Possible Disclosure of Information to RivalsPossible Erroneous Research Results


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Advantages Better acceptance from staff Knowledge about organization Would be an integral part of

implementation and evolution of the research recommendations.

Disadvantages Less fresh ideas Power politics could prevail Possibility not valued as “experts” by

staff.

INTERNAL RESEARCHERS

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Advantages Divergent and convergent thinking Experience from several situations in

different type of organizations. Better technical training, usually.

Disadvantages Take time to know and understand the

organizational system. Rapport and corporation from staff not

only easy. Not available for evaluation after

implementation cost.

EXTERNAL RESEARCHERS

“Man’s major problems and needs demand RESEARCH "The secret of success is to

know something nobody else knows. "

Aristotle

Onassis


Lecture -1 Mba

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Transcript of Lecture -1 Mba