1.

Research

The systematic investigation into and study of materials and sources in order to
establish facts and reach new conclusions.

Research is defined as the creation of new knowledge and/or the use of existing
knowledge in a new and creative way so as to generate new concepts,
methodologies and understandings. This could include synthesis and analysis of
previous research to the extent that it leads to new and creative outcomes.

Research is a process of systematic inquiry that entails collection of data;

documentation of critical information; and analysis and interpretation of that
data/information, in accordance with suitable methodologies set by specific
professional fields and academic disciplines.

According to the American sociologist Earl Robert Babbie, “research is a

systematic inquiry to describe, explain, predict, and control the observed
phenomenon.

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2. Business Research

Business research is a process of acquiring detailed information of all the areas of

business and using such information in maximizing the sales and profit of the
business. Such a study helps companies determine which product/service is most
profitable or in demand.

Business and management research is a systematic inquiry that helps to solve

business problems and contributes to management knowledge. It Is an applied
research.

Business research is a process of acquiring detailed information of all the areas of

business and using such information in maximizing the sales and profit of the
business. Such a study helps companies determine which product/service is most
profitable or in demand. In simple words, it can be stated as the acquisition of
information or knowledge for professional or commercial purpose to determine
opportunities and goals for a business.

Business research can be done for anything and everything. In general, when
people speak about business research it means asking research questions to know
where the money can be spent to increase sales, profits or market share. Such
research is critical to make wise and informed decisions.

For example: A mobile company wants to launch a new model in the market. But
they are not aware of what are the dimensions of a mobile that are in most demand.
Hence, the company conducts a business research using various methods to gather
information and the same is then evaluated and conclusions are drawn, as to what
dimensions are most in-demand, This will enable the researcher to make wise
decisions to position his phone at the right price in the market and hence acquire a
larger market share.

Business research refers to the process of gathering information on all areas of

business with the purpose of leveraging this data to promote organizational growth,
increase sales, and maximize profit. It involves the systematic management
activities that help companies decide which products or services will perform well
in the market and will therefore be most profitable to produce.

“Business research is defined as the systematic and objective process of

generating information for aid in making business decisions.”

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3.The Role of Business Research

 The most critical role of business research is to help all business decisions,
from product innovation to marketing and advertising planning. Business
surveys also help predict companies about competition and other types of
issues.
 Business and management research is a systematic inquiry that helps to
solve business problems and contributes to management knowledge. It Is an
applied research.

 Helps to solve business problems and contributes to management

knowledge.

 Research is what propels humanity forward. It's fueled by curiosity: we get

curious, ask questions, and immerse ourselves in discovering everything
there is to know. Learning is thriving. Without curiosity and research,
progress would slow to a halt, and our lives as we know .

 Business research helps to identify opportunities and threats. It helps identify

research problems and using this information, wise decisions can be made to
tackle the issue appropriately. It helps to understand customers better and
hence can be useful to communicate better with the customers or
stakeholders.
 them would be completely different.

 Business research facilitates decision-making in the organisation. By

providing analysed and processed information about the market, consumer
or the business environment, it helps managers in taking crucial marketing
decisions.
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4.Why it is Important

It helps businesses gain better insights about their target customer's preferences,
buying patterns, pain points, as well as demographics. Business Research also
provides businesses with a detailed overview of their target markets, what's in
trend, as well as market demand.

Importance of Business Research

Business research is the first step that each business owner must take to establish
their company, survive, or succeed in the market. The fundamental reason for the
relevance of such research is that it helps firms expand in terms of remuneration,
market, and brand value.
Here is a list of the factors that contribute to the importance of business
research:

 It enables businesses to understand their target customers' preferences better,

purchasing patterns, pain concerns, and demographics.
 Business Research also gives companies a complete understanding of their
target markets, trending, and market demand.
 Businesses may successfully and efficiently construct the best possible plans
and strategies by examining consumers' buying habits, preferences, market
trends and needs with business research.
 The relevance of business research also rests in identifying areas that may
reduce unneeded expenditures and sizes in a firm that require greater
attention to attract more consumers and increase revenues.
 Businesses may continually develop in response to their consumers' tastes
and interests while focusing on the brand.
 Business research also serves as a catalyst, assisting businesses to succeed in
their marketplaces by seizing all available chances and addressing the
demands and preferences of their consumers.

What are the reasons why research is important in business?

1. To Better Understand Your Customers

2. Identifies Problem Areas
3. Beneficial in Comparative Studies
4. Helps Design New Business Opportunities
5. Minimizes Loss

To Better Understand Your Customers

Marketing research with the use of online surveys can help you quickly and
efficiently collect data from a vast group of people. In order to understand who
exactly is benefiting from your products and services, you can choose to send out a
survey that would ask questions regarding their demographic. Take note of the
similarities in the replies in order to find out the consumers that benefit from your
services. Doing so can help change up your business to better cater to the right
consumers, effectively increasing your customer satisfaction.

These can help turn your business into a more aware one. It can even be a stepping
stone to searching for a new consumer market to explore. Another reason as to why
research is important is it can help you identify problem areas.
Identifies Problem Areas
By customizing online survey tools, your business can better observe the points of
improvement in each of your departments. If you opt to release a survey meant for
the consumers, you can better see what factors of your products and services need
to be improved upon. If you release a survey meant for your employees, then you
can better see the point of improvement that you can do within your current
business processes.

You could create necessary improvements, by identifying problem areas. You may
also opt to release surveys every couple of months in order to track the progress of
your changes. Besides your own data, you can also compare it to the data from
other competitor companies.

Beneficial in Comparative Studies

In order for you to be a step above your competitors, you need to offer something
unique to your consumers. If you observe that their sales are increasing at a
relatively faster rate than yours, it may be due to a number of factors. In order to
discover what exactly makes their company run more smoothly than yours, you
could compare the data that you received from your market research with the
growth of your competitors.

Compare your products & services and see what makes theirs more appealing to
consumers. Then, adapt to this knowledge by making the necessary changes to
your current business practices. These changes can be in the form of designing
marketing campaigns or by exploring new business opportunities.

Helps Design New Business Opportunities

Research can not just help design new business opportunities, but it can help
design successful ones. With the help of online surveys, you can easily ask your
consumers for other things that they may need help in. If you notice a trend in the
desires of your consumers, you can turn this into a good advantage for your
company in terms of business opportunities. The release of this product will prove
to your consumers that you care for their needs, which will ultimately boost
loyalty.

Besides new products, with the help of research, you can even look into tapping
new consumer markets. By releasing surveys to new and unexplored target markets
for your company, you can discover what works and does not work for them. This
way can help you effectively reduce your losses as online surveys are free to
create.
Minimizes Loss

By first sending out surveys to consumers, you are saving your company a lot of
money. This is because you can already pinpoint the potential issues that could
arise before you even launch a new product or service. After making the necessary
changes, you can confidently release products that you know consumers will enjoy.
In the case of a pre-existing product, you could send out surveys to help you find
points of improvement in each one. By catering to the concerns of the consumers,
it increases the chance of a product’s success.

Take note of these key reasons as to why research can be extremely beneficial to
your business. This can better optimize your business processes as well as your
services.

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5.Criteria of Business Research
The need for the research should be well justified. The purpose of the research
should be clearly defined. The research method should be selected according to the
nature of the problem and designed scientifically to ensure a valid and reliable
outcome.

The selection of a research problem is based on the key criteria of: (1) interest; (2)
expertise; (3) data availability; (4) relevance and; (5) ethics.

1. Validity
Validity refers to the accuracy and correctness of the research findings. A research
study should be valid in the sense that it measures what it intends to measure. To
ensure validity, researchers must use appropriate research instruments, collect
reliable data, and analyze the data using sound statistical techniques.
2. Reliability
Reliability refers to the consistency and stability of the research findings. A
research study should be reliable in the sense that it yields consistent results when
repeated under similar conditions. To ensure reliability, researchers must use
standardized research instruments, collect data in a consistent manner, and analyze
the data using sound statistical techniques.
3. Objectivity
Objectivity refers to the absence of bias in the research study. A research study
should be objective in the sense that it is free from personal, political, or
ideological biases. To ensure objectivity, researchers must use objective research
instruments, collect data in a neutral and unbiased manner, and analyze the data
using sound statistical techniques.
4. Generalizability
Generalizability refers to the ability of the research findings to be applicable to a
larger population beyond the sample studied. A research study should be
generalizable in the sense that the findings can be applied to other settings and
populations. To ensure generalizability, researchers must use appropriate sampling
techniques, collect data from diverse populations, and analyze the data using sound
statistical techniques.
5. Ethical Considerations
Research should be conducted in an ethical manner that protects the rights and
well-being of the participants. Researchers should obtain informed consent from
the participants, ensure confidentiality and privacy, and use ethical research
procedures. Additionally, researchers should follow institutional and national
guidelines and regulations.
Conclusion
In conclusion, the criteria of good research are essential to ensuring the quality and
reliability of research findings. By meeting these criteria, researchers can ensure
that their research is valid, reliable, objective, generalizable, and ethical. Adhering
to these criteria is vital in producing research that is useful, accurate, and credible.
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6. Empirical Research

Empirical research is based on observed and measured phenomena and derives

knowledge from actual experience rather than from theory or belief.

Empirical research is defined as any study whose conclusions are exclusively

derived from concrete, verifiable evidence. The term empirical basically means
that it is guided by scientific experimentation and/or evidence. Likewise, a study is
empirical when it uses real-world evidence in investigating its assertions.
Empirical research: Definition

Empirical research is defined as any research where conclusions of the study is

strictly drawn from concretely empirical evidence, and therefore “verifiable”
evidence.

This empirical evidence can be gathered using quantitative market

research and qualitative market research methods.

For example: A research is being conducted to find out if listening to happy music
while working may promote creativity? An experiment is conducted by using
a music website survey on a set of audience who are exposed to happy music and
another set who are not listening to music at all, and the subjects are then observed.
The results derived from such a research will give empirical evidence if it does
promote creativity or not.

Types and methodologies of empirical research

Empirical research can be conducted and analysed using qualitative or quantitative
methods.

 Quantitative research: Quantitative research methods are used to gather

information through numerical data. It is used to quantify opinions,
behaviors or other defined variables. These are predetermined and are in a
more structured format. Some of the commonly used methods are survey,
longitudinal studies, polls, etc

 Qualitative research: Qualitative research methods are used to gather non

numerical data. It is used to find meanings, opinions, or the underlying
reasons from its subjects. These methods are unstructured or semi structured.
The sample size for such a research is usually small and it is a
conversational type of method to provide more insight or in-depth
information about the problem Some of the most popular forms of methods
are focus groups, experiments, interviews, etc.

Steps for Conducting Empirical Research

Since empirical research is based on observation and capturing experiences, it is
important to plan the steps to conduct the experiment and how to analyse it. This
will enable the researcher to resolve problems or obstacles which can occur during
the experiment.

Step #1: Define the purpose of the research

This is the step where the researcher has to answer questions like what exactly do I
want to find out? What is the problem statement? Are there any issues in terms of
the availability of knowledge, data, time or resources. Will this research be more
beneficial than what it will cost.

Before going ahead, a researcher has to clearly define his purpose for the research
and set up a plan to carry out further tasks.

Step #2 : Supporting theories and relevant literature

The researcher needs to find out if there are theories which can be linked to
his research problem. He has to figure out if any theory can help him support his
findings. All kind of relevant literature will help the researcher to find if there are
others who have researched this before, or what are the problems faced during this
research. The researcher will also have to set up assumptions and also find out if
there is any history regarding his research problem

Step #3: Creation of Hypothesis and measurement

Before beginning the actual research he needs to provide himself a working

hypothesis or guess what will be the probable result. Researcher has to set up
variables, decide the environment for the research and find out how can he relate
between the variables.

Researcher will also need to define the units of measurements, tolerable degree for
errors, and find out if the measurement chosen will be acceptable by others.

Step #4: Methodology, research design and data collection

In this step, the researcher has to define a strategy for conducting his research. He
has to set up experiments to collect data which will enable him to propose the
hypothesis. The researcher will decide whether he will need experimental or non
experimental method for conducting the research. The type of research design will
vary depending on the field in which the research is being conducted. Last but not
the least, the researcher will have to find out parameters that will affect the validity
of the research design. Data collection will need to be done by choosing
appropriate samples depending on the research question. To carry out the research,
he can use one of the many sampling techniques. Once data collection is complete,
researcher will have empirical data which needs to be analysed.

Step #5: Data Analysis and result

Data analysis can be done in two ways, qualitatively and quantitatively. Researcher
will need to find out what qualitative method or quantitative method will be needed
or will he need a combination of both. Depending on the analysis of his data, he
will know if his hypothesis is supported or rejected. Analyzing this data is the most
important part to support his hypothesis.
Step #6: Conclusion

A report will need to be made with the findings of the research. The researcher can
give the theories and literature that support his research. He can make suggestions
or recommendations for further research on his topic.

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STEPS IN EMPIRICAL RESEARCH

The ideal research proposal should be comprehensive enough to enable the reader
to know everything that could be expected to happen if the project were actually
carried out--including anticipated obstacles as well as anticipated benefits. In order
to design a research project, you may wish to ask yourself the following series of
questions:

1. PROBLEM STATEMENT, PURPOSES, BENEFITS What exactly do I want to

find out? What is a researchable problem? What are the obstacles in terms of
knowledge, data availability, time, or resources? Do the benefits outweigh the
costs?

2. THEORY, ASSUMPTIONS, BACKGROUND LITERATURE What does the

relevant literature in the field indicate about this problem? To which theory or
conceptual framework can I link it? What are the criticisms of this approach, or
how does it constrain the research process? What do I know for certain about this
area? What is the history of this problem that others need to know?

3. VARIABLES AND HYPOTHESES What will I take as given in the

environment? Which are the independent and which are the dependent variables?
Are there control variables? Is the hypothesis specific enough to be researchable
yet still meaningful? How certain am I of the relationship(s) between variables?

4. OPERATIONAL DEFINITIONS AND MEASUREMENT What is the level of

aggregation? What is the unit of measurement? How will the research variables be
measured? What degree of error in the findings is tolerable? Will other people
agree with my choice of measurement operations?

5. RESEARCH DESIGN AND METHODOLOGY What is my overall strategy for

doing this research? Will this design permit me to answer the research question?
What other possible causes of the relationship between the variables will be
controlled for by this design? What are the threats to internal and external validity?

6. SAMPLING How will I choose my sample of persons or events? Am I

interested in representativeness? If so, of whom or what, and with what degree of
accuracy or level of confidence?

7. INSTRUMENTATION How will I get the data I need to test my hypothesis?

What tools or devices will I use to make or record observations? Are valid and
reliable instruments available, or must I construct my own?

8. DATA COLLECTION AND ETHICAL CONSIDERATIONS Are there

multiple groups, time periods, instruments, or situations that will need to be
coordinated as steps in the data collection process? Will interviewers, observers, or
analysts need to be trained? What level of inter-rater reliability will I accept? Do
multiple translations pose a potential problem? Can the data be collected and
subjects' rights still preserved?

9. DATA ANALYSIS What combinations of analytical and statistical process will

be applied to the data? Which will allow me to accept or reject my hypotheses? Do
the finding show numerical differences, and are those differences important?

10. CONCLUSIONS, INTERPRETATIONS, RECOMMENDATIONS Was my

initial hypothesis supported? What if my findings are negative? What are the
implications of my findings for the theory base, for the background assumptions,
or relevant literature? What recommendations can I make for public policies or
programs in this area? What suggestions can I make for further research on this
topic?

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7.Research Ethics and Misconduct

Research misconduct occurs when a researcher fabricates or falsifies data, or

plagiarizes information or ideas within a research report. The misconduct must be
committed intentionally, and the allegation must be proven by sufficient evidence.
 Research Misconduct:

Plagiarism

Fabrication

Falsification.

Ethical Conduct:

 Social and clinical value.

 Scientific validity.
 Fair subject selection.
 Favorable risk-benefit ratio.
 Independent review.
 Informed consent.
 Respect for potential and enrolled subjects.