Business Research Methods

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Business Research Methods
Purpose To identify advantages and risks
associated with managing and operating a
company. Uncertainty may be caused by too little
or too much information How can Business
Research contribute? 1. Enlighten the
problem 2. Reduce uncertainty
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Business Research Methods
Content
Report Decision basis
...
Problem
Stage I
Stage II
Process
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Basic Situation I
Market forces (Competitors, Suppliers, Customers)
Managerial Decisions (Strategic, Tactical, Operati
onal
Economic climate (National, International)
Society/Authorities
Company (Owners, Employees, Equipment)
CHOICE
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Basic situation II
Industrial market (business to
business) Competitive situation Company
behavior Consumer market Consumer behavior and
attitudes (Age, Gender, Culture, Income)
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Research situation I
Intuitive/Indirect information Explicit/Direct
available information Systematic gathering of
information
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Research situation II
Interpretation
Extraction
Problem
Decision
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Research situation III
1. Stating/Identify problem 2. Identify
structure 3. Evaluate need vs. costs 4. Gather
information 5. (Recording) 6. Analyse 7. Extract
results (conclusions) 8. Interpretation 9. Decisio
n
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Why care about methods?

• Theoretical background
• Systematic considerations
• Concepts
• Avoiding pitfalls
• Requirements to presentation
• Transparency
• Specification of assumptions
• Specification of limits
• Reproducibility

understanding of problem thought catalysts
theory/ methodology
model
reality
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The process
persistence
powers of observation
power of abstraction
creativity
Theoretical knowledge
Ideas/ experience
Formulation of problem/ hypothesis
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When
Nature of the Decision
Time Constraints
Availability of data
Benefits vs. Costs
Is the decision of considerable strategic
or tactical importance?
Does the value of the research information exceed
the cost of conducting research?
Is sufficient time available before a managerial
decision must be made?
Conduct Business Research
Is the information already on hand inadequate
for making decision?
Business research should not be conducted