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    Nature and Scope of Business Research

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    This document provides an overview of the nature and scope of business research. It discusses that research is an organized way to systematically find answers to questions in order to increase knowledge. Business research is unique in that managers draw on multiple disciplines and require practical applications. Major topics of business research include general business conditions, finance, management, marketing, information systems, and corporate responsibility. Research is needed by researchers, practitioners, and policymakers to discover, understand, describe, explain, and predict phenomena. The document outlines the research process and different classifications of research based on application, purpose, and inquiry procedures. It also discusses key aspects of research such as theories, concepts, and the relationship between abstract and empirical levels of knowledge.

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    Nature and Scope of Business Research

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    AUGUSTINE
    1K views33 pages
    This document provides an overview of the nature and scope of business research. It discusses that research is an organized way to systematically find answers to questions in order to increase knowledge. Business research is unique in that managers draw on multiple disciplines and require practical applications. Major topics of business research include general business conditions, finance, management, marketing, information systems, and corporate responsibility. Research is needed by researchers, practitioners, and policymakers to discover, understand, describe, explain, and predict phenomena. The document outlines the research process and different classifications of research based on application, purpose, and inquiry procedures. It also discusses key aspects of research such as theories, concepts, and the relationship between abstract and empirical levels of knowledge.

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    This document provides an overview of the nature and scope of business research. It discusses that research is an organized way to systematically find answers to questions in order to increase knowledge. Business research is unique in that managers draw on multiple disciplines and require practical applications. Major topics of business research include general business conditions, finance, management, marketing, information systems, and corporate responsibility. Research is needed by researchers, practitioners, and policymakers to discover, understand, describe, explain, and predict phenomena. The document outlines the research process and different classifications of research based on application, purpose, and inquiry procedures. It also discusses key aspects of research such as theories, concepts, and the relationship between abstract and empirical levels of knowledge.

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    1K views33 pages

    Nature and Scope of Business Research

    Uploaded by

    AUGUSTINE
    This document provides an overview of the nature and scope of business research. It discusses that research is an organized way to systematically find answers to questions in order to increase knowledge. Business research is unique in that managers draw on multiple disciplines and require practical applications. Major topics of business research include general business conditions, finance, management, marketing, information systems, and corporate responsibility. Research is needed by researchers, practitioners, and policymakers to discover, understand, describe, explain, and predict phenomena. The document outlines the research process and different classifications of research based on application, purpose, and inquiry procedures. It also discusses key aspects of research such as theories, concepts, and the relationship between abstract and empirical levels of knowledge.

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    of 33

    Nature and Scope of

    Business Research
    Objectives
    • Understand what research is
    • Have appreciable knowledge on the research process
    • Know the various classifications of research
    • Understand research paradigms
    • Appreciate the features of a good research
    • Appreciate how theories are broken down into
    concepts and variables.
    What is Research?
    • Research is an organized and systematic way of finding answers to
    questions (Boateng, 2014).
    • Research is something that people undertake in order to find out
    things in a systematic way, thereby increasing their knowledge
    (Saunders, Lewis & Thornhill, 2007).
    • Business and management research is undertaken in order to find out
    things about business and management.
    Uniqueness of Business and Management
    Research
    • According to Easterby-Smith et al. (2002) (as cited in Saunders, Lewis
    and Thornhill, 2007), business and management research is unique
    because of the following:
    • (a) the way in which managers (and researchers) draw on knowledge
    developed by other disciplines;
    • (b) the fact that managers tend to be powerful and busy people.
    Therefore, they are unlikely to allow research access unless they can
    see personal or commercial advantage; and
    • (c) the requirement for the research to have some practical
    consequence.
    Major Topics for Research in Business

    • General Business Conditions


    • Financial and Accounting Research
    • Management and Organizational Behavior Research
    • Sales and Marketing Research
    • Information Systems Research
    • Corporate Responsibility Research
    Why do we do Research?
    We do research to:
    • (a) Discover/Explore;
    • (b) Understand
    • (c) Describe;
    • (d) Explain; and/or
    • (e) Predict/create
    …social or scientific phenomena
    Alternatives to Research
    • Without research the common sources of perceptions, information and
    knowledge include the following:
    • (a) Authority which is accepting something as true or as a fact because it
    comes from people of authority;
    • (b) Tradition refers to accepting something as true or as a fact because it is
    based on the past – passed on from previous generation and become a
    norm;
    • (c) Common sense refers to ordinary reasoning which may be built from a
    person’s experiences and sometimes tradition;
    • Media myth refers to arriving at conclusions based on a reality created by
    the media
    • (e) Personal experience refers to learning through our sensory impressions
    and knowledge – ‘seeing is believing’.
    Who needs research?
    • Research is needed by researchers, practitioners and policy makers.
    • Stakeholders of research include organisations, communities,
    government and non-governmental institutions and society in
    general.
    • Research has to fit into a body of knowledge or practice or policy.
    The Research Process
    More Detailed Research Process
    • Selecting a research topic • Determining research
    • Determining the research framework
    problem • Designing the research
    • Determining research gaps • Collecting Data
    • Determining research • Analyzing and interpreting Data
    hypotheses • Informing others (research write
    • Determining research objectives up and publication)
    • Determining research questions
    • Detailed literature review
    Classifications of Research
    • The various types of research are classified according to:
    • (a) Application of the research or use of the research results
    • (b) Purpose or objective of the research
    • ( c) Inquiry procedure of the research including:
    • - Paradigm or philosophies underpinning the research;
    • - Approach of the research
    • -Time dimensions of the research
    Type of Research based on application
    Type based on the Purpose or Objectives of
    the Research
    • Exploratory Research
    • Descriptive Research
    • Explanatory or Causal Research
    Inquiry Procedure of the research
    Research philosophies and Approach of the Research: Time Dimension of the Research
    paradigm:

    positivism, Quantitative (Structured) Research Cross-sectional study


    interpretivist, Qualitative (Unstructured) Longitudinal Study (Panel or Cohort
    realism, Research studies)
    relativism and Time Series
    critical realism.
    Overview of Research Paradigms or Philosophies
    ONTOLOGY (What is the nature of Epistemology (What is the nature Methodology (How is knowledge
    reality?) of knowledge generated?) created?)
    POSITIVISM Value-free. Knowledge generated is Researchers formulate research
    There is a single, objective and objective, free of time influences, questions and hypotheses and then
    tangible reality and is context independent. test them empirically under
    carefully controlled circumstances.
    Deductive reasoning.

    INTERPRETIVISM Value-Laden. Knowledge generated Knowledge is created through


    Multiple realities exist, subject to is subjective, time-bound and researchers identifying the various
    human experiences and context dependent. interpretations and constructions
    interpretation. Reality is socially of reality that exist and attempting
    constructed to establish patterns.
    Inductive logic and emergent
    design
    ONTOLOGY (What is the nature of Epistemology (What is the nature of Methodology (How is knowledge
    reality?) knowledge generated?) created?)
    REALISM Value-Cognizant/Value aware. Findings Social phenomenon is understood
    Reality is ‘real’ but only imperfectly and are probably true … researchers needs through hypotheses which are tested
    probabilistically apprehensible, so to triangulate any perceptions collected to establish patterns of associations
    triangulation from many sources is and hence, the most possible
    required to try to know it. explanation. Hypothetico-Deduction

    RELATIVISM The interpretation of the world The construction of knowledge is


    Multiple realities exist. Reality as truth requires some form of human influenced by worldview and research
    is not “absolute”, it is relative, it is processing paradigm of a researcher. Researchers
    dependent upon ‘something’ and it should focus more on creating and
    does exist. developing new ‘useful’ theories –
    useful solutions to specific problems.

    CRITICAL REALISM Transitive world is value-laden and Researchers seek to deconstruct and
    Two worlds – transitive and changing continually. Intransitive world understand the structure and
    intransitive. Transitive is what we has underlying structures and mechanisms underlying the subjective
    observe and learn with our mind – the mechanisms that are ‘relatively realities that exist. Triangulation from
    perceptions of reality. Intransitive enduring’ – that is what we want to many sources is required to try to know
    embodies the reality which is study. it. Retroductive reasoning
    independent of what the mind thinks.
    Characteristics of a Good Research
    • Aim
    • Rigor
    • Testability
    • Replicability
    • Precision and Confidence
    • Objectivity
    • Generalizability
    • Parsimony
    Theory
    • A coherent set of general propositions used as principles of
    explanation of the apparent relationships of certain observed
    phenomena.
    Two Purposes Of Theory
    • Prediction
    • Understanding
    Concept (or Construct)
    • A generalized idea about a class of objects, attributes, occurrences, or
    processes that has been given a name
    • Building blocks that abstract reality
    • “leadership,” “productivity,” and “morale”
    • “gross national product,” “asset,” and “inflation”
    A Ladder Of Abstraction
    For Concepts

    Increasingly more abstract


    Vegetation

    Fruit

    Banana

    Reality
    Scientific Business Researchers Operate at
    Two Levels
    • Abstract level
    • concepts
    • propositions
    • Empirical level
    • variables
    • hypotheses
    Definitions
    • Abstract level -In theory development, the level of knowledge
    expressing a concept that exists only as an idea or a quality apart
    from an object.
    • Empirical level -Level of knowledge reflecting that which is verifiable
    by experience or observation.
    Theory Building A Process Of Increasing
    Abstraction

    Theories

    Increasingly more abstract


    Propositions

    Concepts

    Observation of objects
    and events (reality )
    Concepts are Abstractions of Reality

    Abstract
    CONCEPTS
    Level

    Empirical OBSERVATION OF OBJECTS


    Level AND EVENTS (REALITY)
    Abstract Level
    • Concepts abstract reality.
    • Propositions are statements concerned with the relationships among
    concepts.
    Proposition at Abstract Level

    Concept A Concept B
    (Reinforcement) (Habits)

    Hypothesis at Empirical
    Level
    Cedi bonus for
    sales volume Always makes
    over quota four sales calls
    a day
    • A hypothesis is a proposition that is empirically testable. It is an
    empirical statement concerned with the relationship among variables.
    • A variable is anything that may assume different numerical values.
    Deductive Reasoning
    • The logical process of deriving a conclusion from a known premise or
    something known to be true.
    • We know that all managers are human beings.
    • If we also know that John Smith is a manager,
    • then we can deduce that John Smith is a human being.
    Inductive Reasoning
    • The logical process of establishing a general proposition on the basis
    of observation of particular facts.
    • All managers that have ever been seen are human beings;
    • therefore all managers are human beings.
    Scientific Method
    The use of a set of prescribed procedures for establishing and
    connecting theoretical statements about events and for predicting
    events yet unknown.
    The Scientific Method:
    An Overview

    Assess Formulate Statement


    Design
    relevant concepts & of
    research
    existing Propositions Hypotheses
    knowledge

    Acquire Analyze & Provide


    empirical evaluate explanation-
    data data state new
    problem

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