Chapter 3 The Business Research Process An Overview

Chapter 3 The Business Research Process: An Overview 3 -1

Learning Objectives • Understand that research is decision- and dilemma-centered • The clarified research question is the result of careful exploration and analysis and sets the direction for the research project 3 -2

Learning Objectives • How value assessments and budgeting influence the process for proposing research, and ultimately, research design • What is included in research design, data collection, and data analysis • Which research process problems to avoid 3 -3

The Research Process The primary purpose of research is to reduce the level of risk of a business decision 3 -4

Exhibit 3 -1 The Business Research Process 3 -5

Stage 1 Clarifying the Research Question • Management-research question hierarchy • Begins with management dilemma 3 -6

Exhibit 3 -2 Management. Research Question Hierarchy 3 -7

Exhibit 3 -3 Formulating the Research Question 3 -8

Types of Management Questions 3 -9

The Research Question Break questions down Examine variables Determine necessary evidence Fine-Tuning Set scope of study Evaluate hypotheses 3 -10

Investigative Questions Performance Considerations Attitudinal Issues Behavioral Issues 3 -11 © 2002 Mc. Graw-Hill Companies, Inc. , Mc. Graw-Hill/Irwin

Stage 2 Proposing Research • Exhibit 3 -7 • Budget Types – Rule-of-thumb – Departmental – Task 3 -12

Exhibit 3 -6 Gantt Chart Mind. Writer Project Plan 3 -13

Evaluating the Value of Research Option Analysis Decision Theory Prior or Interim Evaluation Ex Post Facto Evaluation 3 -14

The Research Proposal Purpose Legallybinding contract Methods Written proposals establish Obligations Extent Timing Delivery Budgets 3 -15

Stage 3 Research Designing the Research Project Sampling Design Pilot Testing 3 -16

Stage 4 Data Collection Data Characteristics • Abstractness • Verifiability • Elusiveness • Closeness 3 -17

Stage 5 Data Analysis and Interpretation Reducing data to manageable size Developing summaries Looking for patterns Applying statistical techniques 3 -18 © 2002 Mc. Graw-Hill Companies, Inc. , Mc. Graw-Hill/Irwin

Stage 6 Reporting the Results Research Overview Executive Summary Research Report Technical Appendix Implementation Strategies 3 -19

The Research Overview Problem’s background Summary of exploratory findings Research design and procedures Conclusions 3 -20

Research Process Issues • The Favored-Technique Syndrome • Company Database Strip. Mining • Unresearchable Questions • Ill-Defined Management Problems • Politically Motivated Research 3 -21

Everything must have a beginning Source: Cooper R. D. & Schindler, S. P. (2006). Business Research Methods 9 e. Mc. Graw. Hill 3 -22