• The business research process

involves a series of steps that

systematically investigates a
problem or an opportunity facing the
organization.
Problem Discovery Discovery and
and Definition Definition

Research and so on Conclusions and

Design Report

Data Processing
Sampling
and Analysis

Data
Gathering
Exploratory Research

9
 Experience Case
Second Pilot Study
ary Survey
Study
(historic
al)
Data

Exploratory
Research
If you do not know where you are
going,
any road will take you there.
• A statement based on some
presumptions about existence of a
relationship between two or more
variables
• that can be tested
• (proven/refuted)
• by empirical data
• Makes the research question
clearer to the researcher
• RQ e.g. “Why are the sales of
refrigerators going up in winter?”
• Hypothesis  “The sales of
refrigerators is going up in winter
because of off-season discounts.”
• AN INTELLIGENT GUESS
• The costs incurred on obtaining
the needed information are
compared with the benefits
accruing to the organization.
• If costs < benefits than it is better
to halt the research.
• To ensure that the required
information does not already
exist.
• Master plan
• Based on the research objectives
• Framework for action
• Specifies methods and procedures
• Time line of the research
• Budget allocation
• Sampling process
• Appropriate measurement
techniques
• Surveys – employing questionnaire
• Experiments – to establish cause-
effect relationship. Manipulating
variables.
• Secondary data – already existing
data
• Observation – merely observation
without interrruption of observers
Sample: subset SAMPLE
of a larger population.
• Sample should truly
represent the population
for which the results will POPULATION
be applied.
• Who is to be sampled?
• How large a sample?
• How will sample units be selected?
• Avoid Sampling error. e.g. TV -
future sales potential
• Sampling types:
– Probability sampling
– Non-probability sampling
Data Processing and
Analysis
• Effective communication of the
research findings
• Major phase
• Oral or written
– Objectives
– Summary of research design
– Major findings
– Conclusions
– Limitations and recommendations
• Lucid and concise
• Historical document – future
reference