Defining Business Research

RESEARCH

Research is a systematic, data based, critical, scientific and organized effort to investigate a specific problem to find or solve viable answers to it.  These answers would be to discover new facts that will help to deal with the problem situation.  Research can be roughly defined as an inquiry carried out to secure information for solving problems. The emphasis is on “problem solving”, because applied research is closely related to action or policy needs. Although pure research (i.e. research in pure sciences) is also problem-solving, basically, but it is aimed at solving problems of a theoretical nature and has little impact on actions or policy decisions, whereas in business, research is much more business-oriented.

KINDS OF RESEARCH WORK

Pure, Fundamental, Basic and Applied Research

Research can be classified into two broad categories, namely: Pure Research and Applied Research. Pure Research is mainly concerned with the development and testing of theories and hypotheses which are of intellectual interest as well as challenging. In addition, pure research may provide a guideline for economic, business and social problems. Applied Research is conducted only for solving some kind of problems which any society is facing at a given point of time.

Pure Research is concerned with question that are intellectually challenging to the research. Such research work often involves testing hypotheses containing very abstract concepts. A person wishing to do pure research in any area generally must have studied the theories, concepts and assumptions of that area to know what has been done and what remains to be done. Most of the pure research cannot be done in isolation but must be conducted within a unifying conceptual framework so that it can build upon past research in that area.

Basic research mainly aims at conducting research which may help in providing a theoretical framework to help in conducting applied research.

Pure Research

It often aims at discovering laws, theories or concepts which explain functional relationship like the law of diminishing utilities, theory of decentralization, game theory in decision making, consumer surplus, trading area, and hierarchy of needs. Pure research is more concerned with universal truths.

Fundamental Research

It is becoming more common in a number of big industrial, marketing and financial organizations which help in conducting research useful for long-term strategies. Social institutions are also undertaking fundamental research for long-term planning e.g., Karachi City Master Plan of K.D.A.

Basic and Applied Research

The purpose of basic research in social and business fields is to extent knowledge. Basic research is not problem-oriented, though it may help indirectly. Basic research is also called “pure” research or “fundamental” research. It extends the frontiers of man’s knowledge; and, thus have no known immediate application. In recent years, basic research is financed by business organizations and social institutions both at national and international levels.

While basic research may be conducted by major business firms, business research itself is usually classified as applied research. Applied research is problem-oriented. For example, production/marketing research is very often carried on with a view to immediately increase the efficiency of production or marketing. Financial research is conducted for the purpose of making decisions among alternative investment opportunities or among alternative sources of capital funds. Marketing research is normally carried on to solve problems of acceptance of a nw product, packaging design to study consumer behavior etc.

Applied research is conducted to solve social problems like those of education, health, family planning, slum improvement and public administration. Applied research aims directly to solve social and economic problems of immediate concern. It covers a wide range of social science areas, including education, health, delinquency, sales, forecasting, etc. Applied research also deals partially in such areas as energy crisis, air water-pollution slum improvement and others.

TYPES OF RESEARCH STUDIES

It may be of interest to research students to know the type of research studies conducting in the past. In fact if we look at the history of research studies conducted in the fields of social sciences and business administration and management, we had several kinds of research studies which can be broadly classified on the following bases:

Research Studies Classified on the Basis of Kinds of Research.

Pure, Basic or fundamental Research

-           theoretical research work, as opposed to practical research work.

-           development of new theories

-           evaluation of old theories

Applied Research

-           Problem-solving research, whenever needed.

-           decision-making research to improve judgment

-           planning and forecasting research for growth.

Some authors have classified research studies on the basis of types of research.  From a practical point of view research can be classified into two types, namely, exploratory research and purposive or conclusive research.  Exploratory research aims at finding out the type of hypoteheses which would be tested and the relationships among different factors which means exploration.  Purposive or conclusive research is the most common and popular research both in business and social problems.  It may be pointed out here that in Pakistan and other developing countries very few theoretical research studies are undertaken.  However, to help students in broadening their out look about the type of research studies and kinds of research studies, various bases of classification have been stated so that they may adopt or adapt any one of them.  In exceptional cases they may come out with any new kind of reserach because any one can classify future research studies into various types of categories.

Classification of Research Studies/Work/Projects

Classification based on kinds of Reserarch Studies in Social Science and Business Administration:

Pure, Basic of Fundamental Research

-           Theories

-           Concepts etc.

-           Laws

Applied Research

-           Planning and Development - Research Studies

-           Decision Making Studies

-           Problem Solving Studies

-           Organizational, Managerial and Administrative Studies

-           Social and Business Problem Studies

-           Socio-Econmic Studies

-           Business Economic Studies

-           Political-Economic Studies

-           Psychological Economic Studies

-           Economics Studies including industrial and agricultural problems

Classification Based on method of data collection

Experimental

-           Experimental

-           Semi-experimental

Non-Experimental

-           Observation studies

-           Survey studies

-           Personal interview

-           Mail survey

-           Telephone survey

Classification based on analytical techniques

-           Statistical interference

-           Simulation

-           Model-Building

-           Interpretation from personal interviews

-           Free interviews, depth interviews

-           Non-directive or probing interviews.

CRITERIA OF GOOD RESEARCH

The writers of business research suggest the following seven requirements as the criteria of good research:

(a) Purpose of the research

The purpose of the research should be clearly defined, and delineated as sharply as possible. The scope and limitations of the research and precise specifications of all relevant words should also be described.

(b) Research procedures used

The research should be described sufficiently and clearly so as to enable another researcher to repeat the research. All the sources of data and the means by which they were obtained should be disclosed. Failure to do this would weaken the reader’s confidence in the research results.

(c) Procedural design of the research

The procedural design of the research should be planned with care, to yield objective results. For example, when a sampling has to be done, the sample chosen should be representative of the population of the items of concern.

(d) Flaws in procedural design

Often it is not possible to develop a perfectly good procedural design of the research. The flaws of the procedural design should be mentioned by the researcher in his report; this would enhance reader’s confidence in the report. A good report should mention the procedural design flaws even if they have little or no impact on the research results.

(e) Analysis of the data

The most difficult part of research could be how the data is analyzed. Appropriate tools and techniques for analyzing the data should be used. When using statistical methods, the probability of error, or the confidence level, should also be calculated.

(f) Conclusions

The conclusions drawn in the research report should only be those which are justified by the available data. Sometimes, the available data is not sufficient to form a basis for a conclusion, so the researcher should not be tempted to draw a “hasty conclusion”.

(g) Confidence in the research

The reader of a research report will have greater confidence in it if he knows the researcher to be a competent person, having good reputation, and a man of integrity. Therefore, the report should be accompanied by some information about the researcher, such as his qualifications, his other works, and other pertinent information.