chapter_4_3.ppt
- 1. Business Research Methods William G. Zikmund Chapter 4: The Business Research Process
- 2. Chapter 4: The Business Research Process 1.Information and Decision Making 2. Types of Research 2.1. Exploratory 2.2. Descriptive 2.3. Causal 3. Stages of the Research Process
- 3. 1.Information and Decision Making The key to decision making is: • to recognize the nature of the problem/opportunity, • to identify what type of information is needed, • and how much information is available. Information reduces the level of certainty in decision making
- 4. 1.Certainty: Necessary information is perfectly available, which is something rare. Under certainty, the exact nature of the problem/opportunity is clear, Objectives to be achieved by an effective decision are set. Levels of Certainty in Decision Making
- 5. Certainty: Necessary information to develop alternatives and select the best solution among them is already present Therefore, there is no need to make research for understanding the situation and making prediction.
- 6. 2. Uncertainty: Necessary information is somewhat available, which is something usual. Under uncertainty, the exact nature of the problem/opportunity is clear, Objectives to be achieved by an effective decision are set.
- 7. Uncertainty: However, necessary information to develop alternatives and select the best solution among them is incomplete. Therefore, research is needed to enlarge our incomplete understanding of the situation and to be able to make better predictions than managerial guesses.
- 8. 3. Ambiguity: Almost no information is available, which is something rare. Under ambiguity, the exact nature of the problem/opportunity is not clear, Objectives to be achieved by an effective decision are not set yet.
- 9. Ambiguity: Necessary information to develop alternatives and select the best solution among them is incomplete. Therefore, research is extremely needed to enlarge our understanding and to be able to make predictions.
- 10. 2. Types of Research • Exploratory • Descriptive • Causal
- 11. COMPLETE CERTAINTY ABSOLUTE AMBIGUITY CAUSAL RESEARCH EXPLORATORY RESEARCH Uncertainty Influences the Type of Research UNCERTAINTY DESCRIPTIVE RESEARCH NO RESEARCH AT ALL
- 12. Exploratory Research Descriptive Research Causal Research (Unaware of Problem) (Aware of Problem) (Problem Clearly Defined) “Our sales are declining and “What kind of people are buying “Will buyers purchase more of we don’t know why.” our product? Who buys our our products in a new package? competitor’s product?” “Would people be interested “Which of two advertising in our new product idea?” “What features do buyers prefer campaigns is more effective?” in our product?” Degree of Problem Definition
- 13. 13 2.1. Exploratory Research Secondary data Experience survey Pilot studies
- 14. Exploratory Research • Initial research conducted to clarify and define the nature of a problem • Does not provide conclusive evidence • Subsequent research expected
- 15. 2.2. Descriptive Research • Describes characteristics of a population or phenomenon • Some understanding of the nature of the problem
- 16. 16 I keep six honest serving men, (they taught me all I knew), their names are --Rudyard Kipling what, and why, and when, and how, and where and who.”
- 17. 2.3. Causal Research • Conducted to identify cause and effect relationships
- 18. Identifying Causality • A causal relationship is impossible to prove. • Evidence of causality: – 1. The appropriate causal order of events – 2. Concomitant variation--two phenomena vary together – 3. An absence of alternative plausible explanations
- 19. 3. Stages of the Research Process Problem Discovery and Definition Research Design Sampling Data Gathering Data Processing and Analysis Conclusions and Report Discovery and Definition and so on
- 20. Problem discovery Problem definition (statement of research objectives) Secondary (historical) data Experience survey Pilot study Case study Selection of exploratory research technique Selection of basic research method Experiment Survey Observation Secondary Data Study Laboratory Field Interview Questionnaire Selection of exploratory research technique Sampling Probability Nonprobability Collection of data (fieldwork) Editing and coding data Data processing Interpretation of findings Report Data Gathering Data Processing and Analysis Conclusions and Report Research Design Problem Discovery and Definition
- 21. The Business Research Process Problem Discovery Exploratory Research Selection of the Basic Research Method Selection of Sample Design Collection of the Data
- 22. The Research Process (cont.) Editing and Coding Data Processing Interpretation of the Findings Report
- 23. “The formulation of the problem is often more essential than its solution” Albert Einstein