Fundamentals of Business Research Methods

Research is simply the process of finding solutions to a problem after a thorough study and analysis of the situational and other related factors. Business research is a systematic and organized effort to investigate a specific problem encountered in the work setting that needs a solution. It comprises of a series of steps designed and executed with the goal of finding answers to the issues that are of concern to the manager. This unit provides a basic understanding of research, the process involved and the steps involved in development and testing of hypothesis. Further the need and the major types of research design is dealt in detail. Managers are mostly involved in studying and analyzing issues that lead to decision making. They are involved in some form of research for making an appropriate decision. Decision making today is complicated and complex. There is a myriad flow of information enabled by data mining and warehousing which provides a vital input for decision making. The success or failure of a business decision depends on the data associated with the decision. The decisions can be made in an objective or subjective manner. Objective decision making is rationale and s