ACCOUNTING, FINANCE, SPSS

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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All Rights Reserved
Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
1– *

PART 1
Introduction to Business Research
CHAPTER 1

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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LEARNING OUTCOMES
After studying this chapter, you should be able to:
Know the importance and scope of business research
Describe what research is and how it is defined
Differentiate between applied and basic research
Know the importance of research to a manager
Know when business research is needed
Describe the ethical issues involved in business research

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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1.0 Introduction
To be a responsible individual, he/she has to understand the environment and the nature of the phenomena it presents.
This can be understood as finding a solution to it.
In this case, there must be something missing or there is a gap between what we understand/know and what it should be.

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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Process
In order to achieve this, we go through several processes from collecting information to selecting alternatives.

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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1.1 Importance of Business Research
Research is important to any business organization:
To stay competitive in the market
To accurately identify or understand its customers
To scrutinize its rivals in the industry
To analyze and emulate key strategies
To keep abreast on all aspects of the business

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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1.2 Scope of Business Research
Business research covers a wide range of phenomena.
Problems may occur in any areas of business
No clear demarcation on the classification of problems on the basis of areas
Integration of problems related to two and more areas
External environment facing the business

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Business Research Methods
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1.3 What is Research?
Intellectual application of the investigation of a matter
Used for discovering, interpreting and developing methods and systems for the advancement of human knowledge.

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Business Research Methods
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1.4 Defining Business Research
An organized, systematic, data-based, critical and objective, scientific enquiry or investigation into a specific problem, undertaken with the purpose of finding answers and solutions to it.

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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Comprises four stages
First stage: Problem identification
Second stage: Gather the relevant information
Third stage: Critically analyze the information
Fourth stage: Provide solution to the existing problem

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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1.5 Types of Business Research: Applied and Basic Research
Basic research (also called fundamental or pure research)
Primary objective of the advancement of knowledge and theoretical understanding
Not undertaken to solve any specific problem
Is often the foundation for further applied research

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Business Research Methods
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Applied research
Use knowledge (research findings) for practical concerns
Solve a current problem faced by the organization in the work setting
Application of known theories to the actual operational field
1.5 Types of Business Research: Applied and Basic Research

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Business Research Methods
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1.6 Managerial Value of Business Research
To make right decisions in timely manner
Well informed and up-to-date in their own area of specialization
Recent developments in particular industries
Understand, predict and control the environment of the organization

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Business Research Methods
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1.7 When is Business Research Needed?
The manager’s decision as to whether or not research should be conducted for a problem encountered in the organization depends on various factors:
Time constraints
Availability of data
Nature of decision
Benefit versus costs

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Business Research Methods
© Oxford Fajar Sdn. Bhd. (008974-T), 2012
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1.8 Ethical Consideration in Research
The goal of ethics in research is to ensure that no one is harmed or suffers adverse consequences while following any stage of research.

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Business Research Methods
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1.8.1 Ethical Consideration and the Sponsor
Honestly assess their capabilities
Research must be conducted in a professional manner with a systematic, organized, and scientific approach
Research project/results will remain confidential
Submit the research report to the sponsoring company at the agreed time

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Business Research Methods
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1.8.2 Ethics and Target Respondents
Target respondents who provide information
Information collected should not be misused for any other purpose
Participation is voluntary
Confidentiality of the replies
Not to embarrass respondents/informants

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Design a project that is safe for everyone involved
Impartial and unbiased to accurately record all necessary data
1.8.3 Researcher and Team Members

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