Introduction to Quantitative Methods
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Textbook:
Pages : 395;
Paperback;
210 X 275 mm approx.
Workbook:
Pages :
276; Paperback;
210 X 275 mm approx, Sample Applied Theory Questions
Sample Multiple Choice Questions (Online Quiz)
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Textbook Price: Rs. 900;
Workbook Price: Rs. 700;
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Research Methodology in Business : Chapter 12
SUMMARY: Business research can be defined as a systematic and objective process of gathering, recording, and analyzing data to guide business decision-making. Business research encompasses various facets of business in an organization including marketing, finance, human resources, and manufacturing. Three types of business research studies are mainly employed by organizations: market research, operations research, and motivational research. Business research studies can be classified into two categories – basic research and applied research. Basic research refers to a focused, systematic study or investigation undertaken to discover new knowledge or interpretations and establish facts or principles in a particular field. Applied research refers to investigation undertaken to discover the applications and uses of theories, knowledge, and principles in actual work or in solving problems. The key objective of any business research is to provide accurate, relevant, and |
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timely information to the top management, so that they can make effective decisions.
In business, decision-making goes through four key interrelated stages: problem/opportunity identification, problem/opportunity selection, problem/opportunity resolution, and implementing the course of action. Business research helps the management in each of these stages by providing useful and timely information. Organizations should decide upon the option of conducting business research after considering various factors. These include time constraints, availability of resources, availability of data, nature of information that the organization is expecting, and the costs involved.
