MODULE ONE - BUSINESS RESEARCH PROCESS AND PRINCIPLES

Question 1

The Research Process

1. Planning

Answer 1

it is necessary to carefully consider what the purpose of the reasrch is and create a well-thought out plan for how you will go about conducting your research

Question 2

The research process - 1 Planning

1.1 Define the problem statement

Answer 2

involves narrowing down a larger problem or oppertunity to specifically relate to what is to be researched.

Question 3

The research process - 1 Planning

1.2 Develop a research question

Answer 3

directs the organisation toward knowing what data to gather and how the data should be analysed, as different types of questions require different types of data analyses.

Question 4

The research process - 1 Planning

1.3 Develop a hypothesis or hypotheses

Hypothesis

Answer 4

A hypothesis is a tentaive statement that stands to be supported or not supported by the research findings; the hypothesis is an assumed answer for one of the research questions, and is tested for it’s validity through research.

Question 5

The research process - 1 Planning

1.3 Develop a hypothesis or hypotheses

Hypotheses

Answer 5

A hypotheses is a supposition that stands to be accepted or refuted. Hypotheses help clarify research questions for the researcher, and provide focus for the study.

Question 6

The research process - 1 Planning

1.4 Plan research method and design

Answer 6

Developing a clear and detailed research plan is an essential part of conducting purposeful research.

Question 7

The research process - 1 Planning

1.4 Plan research method and design

Should detail the following aspects 1

Answer 7

What to measure - identifying the relevant variables is an essential aspecct of data design. This involves asking what data you need to collect to answer your research question.

Question 8

The research process - 1 Planning

1.4 Plan research method and design

Should detail the following aspects 2

Answer 8

How to measure it - the design should include clear guidelines for how the data will be gathered, taking into account the time and cost involved.

Question 9

The research process - 1 Planning

1.4 Plan research mthod and design

Should detail the following aspects 3

Answer 9

Research methos - is largely dependent on the type of data needed to meet the objectives of the study. (number of methids: secondary data studies, survesy, experiments and observations)

Question 10

The research process

2. Execution

Answer 10

After research goals have been clearly defined, and a research plan has been developed, the researcher can start collectiong and working with the date.

Question 11

The research process - 2 Execution

2.1 Gather Data

Answer 11

Data collection is a process in and of itself, as data can come in a variety of sources and in a number of different forms. One has to determine what type of data will answer the questions at hand, how much data is enough, and how the data will be collected, compiled, and stored

Question 12

The research process - 2 Execution

2.1 Gather data - Primary Data

Answer 12

refers to the raw data that has been collected directly from the source for the purposes of the research study. Experiments, surveys and observational data are like;y to generate new primaty data.

Question 13

The research process - 2 Execution

2.1 Gather Data - Secondary Data

Answer 13

is data that has been collected by someone else at another time, and is, therefore, readily available. Databases are a form of secondary data.

Question 14

The research process

2.2 Prepare data for analysis

2 Execution

Answer 14

involves evaluating, editing, and arranging data before running a statistical analysis. Verifying the data, and looking for inconsistencies and errors that could negatively impact the research.

Question 15

The research process 2.2 Prepare data for analysis

Organising data

One of the activities in preparing the data

2 Execution

Answer 15

Once data is gatheres, it is necessary to enter the data into a logical and useful format or database. The same format should be used throughout to avoid confusion and difficulty later on.

Question 16

The research process 2.2 Prepare data for analysis

Coding

One of the activities in preparing the data

2 Execution

Answer 16

is the process of allocating symbols or numerical values to different sets of responses when working with unstructured data, such as survey data. Coding process is done so that the data can be easily interpreted using quantitative methods.

Question 17

The research process 2.2 Prepare data for analysis

Data cleaning

One of the activities in preparing the data

2 Execution

Answer 17

includes activties such as removing or correcting spelling mistakes or inconsistent phrasing, handling missing data, removing insensible informtion or double-entered data, and removing out-of-range values.

Question 18

The research process 2.2 Prepare data for analysis

Statistical adjustments

One of the activites in preparing the data

2 Execution

Answer 18

Data may require weighting or scale adjustment, especially in cases where two or more sets of data are to be compared.

Question 19

The research process

2.3 Analyse Data

2 Execution

Answer 19

a set of procedures or methods that can be applied to data that has been collected in order to obtain one or more sets of results. The process of bringing structure, order, and meaning to masses of collected data is not always a linear process, and can be ambiguos and time-consuming.

Question 20

The research process

2.4 Interpret data

2 Execution

Answer 20

The interpretation of data involves selecting significant results, presenting the results in a meaningful way and putting the results into the relevant context to generate a set of findings. Interpretation involves putting the outcomes of the analysis in context, and drawing actionable inerences from the results.

Question 21

The research process

3 Report preparation and presentation

Answer 21

One the data has been interpreted, and the researcher has come up with a set of findings and recommendations, the final (and imporatnt) phase of the research process is the preparation of results for presentation. Findings can be presented in either written format as a research reports, or an oral formant in the form of a presentation.

Question 22

The research process

3 Report preparation and presentation

continued

Answer 22

However, it may be necessary that you need to write a report and do a presentation.

Question 23

The research process

3 Report preparation and presentation

continued

Answer 23

Research report must contain: A concise account of the research questions and hypotheses. An overview of the research design. A summary of the relevant findings. The recommendations. An account of the research limitations. When preparing a report or presentation it is important to keep the purpose of the research study in mind.

Question 24

The research process

4 Cyclical nature of research process

Answer 24

There are several different ways to conceptualise the research process. When the process is conceptualised as a linear process, it denotes a step-by-step, ordered approach to research. From this perspective, each step that precedes the next is to be completed fully before progressing to the next step.

Researcher must move consecutively through each phase

Question 25

The research process

4 Cyclical nature of research process

continued

Answer 25

A cyclical approach to research allows for the researcher to “learn by doing” and improve the research throughout the process. As the researcher gains greater insights from the research, it may be necessary to adjust the research approach, gather more data or apply different analytical techniques.

Question 26

3 Principals of Business research - Comprehensive

Answer 26

It is important to consider all the relevant data and variables when conducting business research, and avaoid selectively focusing on aspects of the data that support one’s own preconceptions or hypothese. Upon making inferences, one must conisder all the data, and contemplate any conflicting data. When data is excluded from analysis, a clear explanation and justification of why it hasn’t been considered must be given. Furthermore, it is the researcher’s obligation to mention any data that has been excluded from analysis, and the decision to exclude the data must be justified.

Question 27

3 Principals of Business research - Plausible

Answer 27

When gathering data and finding sources of data, the researcher must ensure that the sources are credible, and that the data obtained is reliable. Furthermore, the methods of analysis mist be plausible in relation to the research questions and needs of the study.

Question 28

3 Pricipals of Business research - Understandable

Answer 28

Methods for statistical analysis should be comprehensible to the relevant stakeholders to avoid the knowledge derived from the analysis losing it’s significance and usefulness. If the logic cannot be explained to the bsuiness decision makers, the outcomes may bear little relevance in the organisation.

Question 29

3 Principals of Business Research - Actionable

Answer 29

Business research & analysis bares its significance in the applicability of the inferred knowledge to inform business stragegy & decision making. As this is the central focus of business research, it is imporatnt that the reearch outcomes are draw on actionable implications.

For research to be actionable, the research must stay focused on the core purpose of the research during every step.

Question 30

3 Principals of business research - Clearly defined scope

Answer 30

Reserach projects need to clearly define the limitations & constraints of the research. In all research prjects, there will be limitations that are inherent of the research design and methodology.

Therefore, an honest appraisel of these limitations is necessary to assess the validilty and credibility of the research findings.

Question 31

3 Principals of business research - Transparency

Answer 31

When conclusions derived from data might impact business decision-making, it is necessary to provide stakeholders with a clear and accurate account of exactly how the conclusions were drawn; researchers must be able to provide a thorough explanation of how they went from raw data to inferred information.

Question 32

4 Limitations of business research

Answer 32

Although business research can provide many oppertunities & insights for a company, business research may not always be easy or feasible. There are a number of limitations to business research that a company should be aware of, & knowing when data analysis is the best option takes careful thought and evaluation on the part of the researcher and stake holders.

Question 33

4 Limitations of business research

4.1 Access to data

Answer 33

There are many challenges that can arises when one is tryong to collect & gather data. Survey research - expensive and time consuming. Competitor data - not easily accessible. Therefore, it is imperative that companies clearly outline how & from where they will access data during the research design phase of the research process.

Question 34

4 Limitations of business research

4.2 Budgetary constraints

Answer 34

Businesses may lack either budgetary or human resources, both fo which may have an effect on the compnay’s ability to implement business research stragegies.

Question 35

4 Limitations of business research

4.3 Time constraints

Answer 35

Business research takes time & effort, & businesses do not always have the luxury of time when it comes to making decisions. Businesses have to respond to sudden changes, & are often unable to call on research findings to inform decision-making.

Question 36

4 Limitations of business research

4.4 Reliability of data

Answer 36

The value & usefulness of research findings is dependent on the reliability of the data that is obtained. There are various ways in which the data obtained can be misleading, which can lead to inacurate research findings.

EG: Leading survey questions - questions that unintentionally suggest the answer the researcher is looking for