Business Research

Question 1

What is the overall business research process?

Answer 1

• Begin with an idea
• State research queston/statemtn in one sentence
• Specific aim and objectives
• Literature review
• Select methodology
• Devise data collection methods
• Gather data
• Analyse data
• Draw conclusions
• Complete write up of thesis

Question 2

What are the different spectrums/types of research?

Answer 2

• Basic vs Applied
• Exploratory vs Descriptive vs Casual
• Qualitative vs Quantitative
• Deductive vs Inductive

Question 3

What is basic research?

Answer 3

• Desire to expand knowledge
• Curiosity driven
• Intended to answer why, what and how questions
• Increase understanding of fundamental principles
• Does not have immediate commercial objectives
• It may not necessarily result in an invention or a solution to a practical problem

Question 4

What is applied research?

Answer 4

• New knowledge acquired has specific commercial objectives: products, procedures or services
• Answer specific questions aimed at solving practical problems

Question 5

What is exploratory research?

Answer 5

• What, when, how, where, who

- e.g. determining all of the criteria retailers use in deciding whether or not to adopt a new product line

Question 6

What is descriptive research?

Answer 6

• What, when, how, where, who
• e.g. placing the criteria retailers use in deciding on the adoption of a new product line into their order of importance

Question 7

What is causal research?

Answer 7

• Explanatory, why
• e.g. determining which criterion is critical to a retailer’s decision as to whether or not a new product line is adopted

Question 8

What is deductive research?

Answer 8

Using deductive reasoning, you develop a research hypothesis from existing theory and you then test this hypothesis

Question 9

What is inductive research?

Answer 9

Using an inductive approach, you gather all the evidence, information and data available and then you formulate a generalisation that provides a reasonable and logical explanation for all of them

Question 10

What are the four frameworks?

Answer 10

• Conceptual framework
  
  • Contained in the research statement, question or hypotheis
• Theoretical framework
  
  • Contained in the literature review
• Methodological framework
  
  • Details how the research was conducted.
• Analytical framework
  
  • Structure of the detailed analysis of the data

Question 11

What is the hypothesis?

Answer 11

Formal statement of an unproven proposition that is empirically testable

Question 12

What are propositions?

Answer 12

Statements explaining the logical linkage among certain concepts by asserting a universal connection between concepts

Question 13

What does theoretical mean?

Answer 13

Concerned with developing, exploring or testing the theories or ideas that social science researches have about how the world operated

Question 14

What does empirical mean?

Answer 14

Based on observations and measurements of reality - on what we perceive of the world around us

Question 15

What does nomothetic mean?

Answer 15

Laws or rules that pertain to the general case and is contrasted with idiographic (rules or laws that relate to individuals)

Question 16

What does probabilistic mean?

Answer 16

As certainty is not as attainable, refers to the reality that inferences made have probabilities associated with what has been observed and not to be considered as covering laws

Question 17

What does causal mean?

Answer 17

Study of cause and effect that is difference from simple description of variables or the relationship between variables

Question 18

What are concepts?

Answer 18

• The constituents of thoughts

- Abstract ideas

Question 19

What are the two types of data?

Answer 19

• Primary
  
  • Collected by the researcher
• Secondary
  
  • Collected by others and relevant to the research