BUSINESS RESEARCH An Overview

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BUSINESS RESEARCH An Overview
Dr Vinh Thai Department of Maritime Logistics
Management National Centre for Ports
Shipping Australian Maritime College University
of Tasmania Launceston, Tasmania, Australia
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Topics

• What research is and is not?
• Why Business Research?
• Overview of the Research Process
• Learning objectives
• Learning outcomes
• Assessment What are expected?

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What is Research?

• Business research the systematic and objective
  process of gathering, recording and analysing
  data to aid business decisions (Zikmund 2003)
• information should be collected in a scientific,
  objective and impersonal manner, not intuitively
  or haphazardly
• researcher needs to re-search, patient and
  scientific investigative work
• must be objective so that the data collected and
  analysed are as accurate as possible
• Business research is undertaken in order to
  facilitate the managerial decision-making process
  for all aspects of a business

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Why Business Research?

• Research
• important role in our daily life, especially at
  work
• Business research
• Managers use daily for decision making
• generates accurate information
• follows systematic and objective investigations
  rather than intuitive information (gut
  feelings) (Zikmund 2003)
• reduces uncertainty

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Why Business Research? (2)
InformationReducesUncertainty
Are customers happy with our new ocean freight
scheme?
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Why Business Research? (3)

• The purposes of research (Collis and Hussey 2003)
• to review and synthesise existing knowledge
• to investigate some existing situation or problem
• to provide solutions to a problem
• to explore and analyse more general issues
• to construct or create a new procedure or system
• to explain a new phenomenon
• to generate new knowledge
• a combination of any of the above
• Usually an initial situation whether an
  opportunity for the organisation or a particular
  problem sparks off a need for research

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Why Business Research? (4)

• Example The annual handling throughput of a
  container terminal has been dwindling over the
  past 12mths.
• Why?
• Terminal Manager might think of several possible
  reasons - but are these right?
• Further objective investigation identifies the
  exact problem
• Solutions can then be implemented

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Why Business Research? (5)

• Researching in the field of Maritime and
  Logistics Management
• not simply for academic purposes
• principles and techniques that you learn from
  this Unit can apply as a practitioner in
  researching and tackling operational and
  management at work
• Apply what you learn in this Unit to Maritime
  Logistics Management Project in second semester

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Why Business Research? (6)
Remember that research is not beyond the realm
of ordinary people most of you at some stage in
your careers will be engaged in conducting
systematic inquiry. The research skills this unit
offers gives you the chance to develop those
skills.
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What Research is and is not

• Research - central to both business and academic
  activities
• BUT no consensus in the literature on how it
  should be defined
• Business research is an organised, systematic,
  data-based, critical, objective, scientific
  inquiry or investigation into a specific problem
  or issue with the purpose of finding solutions to
  it or clarifying it (Cavana, Delahaye Sekaran
  2001)

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What Research is and is not (2)

• Research is a systematic, careful inquiry or
  examination to discover new information or
  relationships and to expand/verify existing
  knowledge for some specified purpose (Ticehurst
  and Veal 1999)
• Three common points of research (Collis and
  Hussey 2003)
• (1) research is a process of enquiry and
  investigation
• (2) it is systematic and methodical
• (3) research increases knowledge.

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What Research is and is not (3)

• Research is not (Leedy and Ormrod 2005)
• mere information gathering
• mere transportation of facts from one location to
  another
• merely rummaging for information
• a catchword used to get attention

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What Research is and is not (4)

• Research
• originates with a question or problem
• requires clear articulation of a goal
• follows a specific plan of procedure
• usually divides the principal problem into more
  manageable subproblems
• is guided by the specific research problem,
  question, or hypothesis
• accepts certain critical assumptions
• requires the collection and interpretation of
  data in an attempt to resolve the problem that
  initiated the research
• is, by its nature, cyclical or, more exactly,
  helical

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Overview of the Research Process
Problem Discovery and Definition
Discovery and Definition
and so on
Research Design
Conclusions and Report
Sampling
Data Processing and Analysis
Data Gathering
Source Zikmund (2003)
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Learning objectives of this unit

• Introduce fundamentals of project management,
  which place a foundation for conducting your
  research project
• Provide a painless introduction to widely used
  methods of inquiry in the areas of social science
  and management
• Help instil confidence in developing and refining
  research ideas and conducting your research
  project(s)

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Learning Outcomes

• On completion of this unit you should be able to
• Comprehend the principles of project management
• Know how to apply these principles in conducting
  research projects
• Identify and practise the conventions of good
  research
• Know how to apply a broad range of approaches
  and techniques to research problems
• Confidently design and conduct a research
  project
• Put together a coherent research proposal for
  such a project
• Undertake a critical appraisal of a piece of
  research
• Appreciate more fully the multidisciplinary
  nature of research in management

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Assessment

• You are required to conduct a research project -
  Maritime Logistics Management Project
• The assessment in this unit leads you toward the
  Project

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Assignment 1 What is expected?

• You should demonstrate good explanation
  discussion on
• How business research could or can help in your
  past/future project (in formulating research
  problem/opportunity, planning, execution, etc.)
• How preliminary information could or can be
  collected (e.g. type of data, sources of data,
  etc.)
• All steps of project definition its elements
  (e.g. research questions/hypotheses, variables,
  objectives, etc.)
• Please study Module 2 carefully

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Assignment 1 Project Definition

• Identifying research problem is the heart of any
  research project (Leedy Ormrod 2005)
• A research question is the researchers
  translation of the research problem into a
  specific need for inquiry
• A hypothesis can be defined as a logically
  conjectured relationship between two or more
  variables expressed in the form of a testable
  statement (Cavana, Delahaye Sekaran 2001)

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Assignment 1 Project Definition (2)

• Five characteristics of a hypothesis (Neuman
  2003)
• Has at least two variables
• Expresses a causal or cause-effect relationship
  between the variables
• Can be expressed as a prediction or an expected
  future outcome
• Is logically linked to a research question and a
  theory
• Is falsifiable that is, it is capable of being
  tested against empirical evidence and shown to be
  true or false

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Assignment 1 Project Definition (3)

• Research objectives answer the question why am I
  doing this?
• Once the research questions and/or hypotheses
  have been stated, the research objectives are
  derived from the problem definition
• The research objectives explain the purpose of
  the research in measurable terms and define
  standards of what the research should accomplish
  they define results that must be achieved and the
  desired end result
• Research objectives need to be SMART Specific,
  Measurable, Attainable, Realistic, and
  Time-limited

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Assignment 1 Project Definition (4)

• Overall, the basic questions you need to ask when
  defining your project (Newton 2006), are
• Why do you want to do this project?
• What will you have at the end of this project
  that you do not have now?
• Are there any gaps or overlaps with other
  projects, or changes to the boundaries of your
  project?
• These questions shape guide whole steps of
  project definition

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Assignment 1 Choosing a Topic

• Choosing a topic Where do ideas come from (if
  you do not have a project in the past)
• Projects may grow out of problems or
  opportunities
• Possible sources of ideas (Jankowicz 2000)
• an old favourite an idea youve had for a long
  time and cant wait to investigate
• an intuition that simply needs more detailed
  attention
• a preference for the development of a topic in a
  subject youre good at already

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Assignment 1 Choosing a Topic (2)

• Possible other sources
• a systematic academic search i.e. working with a
  topic you find when you look at past
  dissertations in the library, scan the abstracts
  of journals in a field which interests you, or
  survey online databases in your library
• negotiation over an employer project i.e.
  something which you or your boss realise needs
  doing
• You can find topics in many business areas of an
  organisation such as finance and accounting,
  sales and marketing, or operations and management
  
• Nowadays, many research projects are triggered by
  cross-functional efforts

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Assignment 1 Choosing a Topic (3)

• It is always good to choose a research project in
  an area that interests you
• Some ways for topic selection (Neuman 2003)
• Personal experience You can choose a topic based
  on something that happens to you or those you
  know
• Curiosity based on something in the media
  Sometimes you read a newspaper or magazine
  article or see a television program and leave
  with questions
• The state of knowledge in a field Basic research
  is driven by new research findings and theories
  that push at the frontiers of knowledge

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Assignment 1 Choosing a Topic (4)

• Solving a problem Applied research topics often
  begin with a problem that needs a solution
• Social premiums It means that some topics are
  hot or offer an opportunity
• Personal values Some people are highly committed
  to a set of religious, political, or social
  values
• Everyday life Potential topics can be found
  throughout everyday life in old sayings, novels,
  songs, statistics, and what others say
  (especially those who disagree with you)

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Assignment 2 What is expected?

• You should conduct a good literature review on
  your selected research topic
• Remember to state your research question at the
  beginning
• Your literature review should be consistent with
  your research question
• Present your review by themes, not by studies or
  authors (please study Module 5 carefully)
• At the end of the review, shortcomings (if any)
  in literature should be identified in order to
  justify your research project

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Assignment 2 Literature Review

• In parallel with information gathering, a review
  of available literature on the research topic is
  critical to answer the following questions
• Is the opportunity or problem worth
  investigating?
• How can we clearly and efficiently define the
  opportunity or problem?

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Assignment 2 Literature Review (2)

• Literature is a body of knowledge in books,
  journal articles, magazines, on the internet,
  etc.
• Review of literature is an essential step in the
  research process
• The main purpose of literature review is to learn
  from and build on what other researchers have
  already done
• A good literature review prevents wastage of
  resources due to reinventing the wheel

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Assignment 2 Literature Review (3)

• Goals of a literature review
• Demonstrate a familiarity with a body of
  knowledge and establish credibility
• Show the path of prior research and how a current
  project is linked to it
• Integrate and summarise what is known in an area
• Learn from others and stimulate new ideas

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Assignment 2 Strategies to conduct Literature
Review

• Knowing what to look for
• Using your library time efficiently
• Reading critically and creatively
• Summarising
• Writing and synthesising the literature
• Knowing when to quit
• The above strategies are discussed in detail in
  Module 5

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Assignment 3 What is expected?

• You are requested to develop a Research Proposal
  for the topic you select
• Specific requirements are outlined in the USB

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Assignment 3 Research Proposal

• A research proposal is a written statement of the
  research design that includes a statement
  explaining the purpose of the study and a
  detailed, systematic outline of a particular
  research methodology (Zikmund 2003)
• It is a document which reflects the researchers
  mind in planning and organising the work
  necessary to complete the project
• If a proposal is poorly planned and organised, it
  gives the readers an impression that the
  researcher is incapable of thinking logically,
  systematically, and thoroughly about jobs that
  need to be done

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Assignment 3 Format of the Research Proposal

• Title page
• Abstract
• Table of Contents
• List of Tables
• List of Figures
• Introduction
• Research background (Preliminary information
  gathering and literature review)
• Justification for the research
• Project definition including research
  question(s), research hypotheses (if applicable),
  research variables, research objectives

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Assignment 3 Format of the Research Proposal (2)

• Research design/Methodology including research
  design (type of research investigation), unit of
  analysis, method of data collection, sampling
  strategies (population, sampling method, sample
  size, etc.), method of data analysis, etc.
• Prospective contribution of the research to
  literature and management practice
• Prospective limitations of the research
• Time schedule (using the Gantt chart listing
  activities, their associated start date, end date
  and showing dependencies). When building the time
  schedule please bear in mind that your Maritime
  Management Project will take place from the
  beginning of semester 2, 2008.
• Conclusion
• References

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Some Final Notes

• It is expected that you should closely consult
  with the lecturer right from the beginning of
  your project
• Actively participating in electronic forum also
  helps
• Please feel free to ask Vinh any questions you
  may have along the process (contact details are
  in the USB)