This document discusses business research methodology. It provides definitions of business research and types of business research such as quantitative analysis, qualitative analysis, experiments, observations, applied research, developmental research, and basic research. It also outlines criteria for good research such as having a clearly defined purpose and describing the research procedure in detail. Qualities of good research are discussed like being systematic and logical. The document also explains concepts like isolating the problem rather than just symptoms and determining relevant variables.

1. BUSINESS RESEARCH
METHODOLOGY
Group members :
1) Tanvir Rahman 133-11-128
2) Md: Nur Nabi 153-11-4916
3) Md Jahidul Islam 161-11-4973
4) Sadik Hasan 161-11-4981
5) Nazmul Mridha 161-1104992
6) Md Nahidul Islam 161-11-5000

2. Definition of Business Research
The definition of business research involves acquiring
information and knowledge for professional or commercial
purposes such as determining opportunities and goals for
a business. An example of business research is gathering sales
information and writing a detailed report on marketing and
sales

3. Types of Business
Research
• Making Decision is a crucial part of any business project.
• To do this one needs to have a detailed understanding of the
external and internal factors affecting the products and
services of the business.
• Business research comes forward as the best solution to this
problem.
• This can be described as the organized process of gathering
relevant data that can be used to draw conclusion and come to
a decision.

4. The following are the basic types of business analysis that are
generally used:
Quantitative Analysis:
Quantitative method deals with gathering all the objective and
numerical data from several resources. Various statistical models
and formulas help the professionals to gather market data about
the features.
Qualitative Analysis:
This method is exactly opposite to quantitative study. It is
thoroughly subjective and deals with the market data, which can
be kept in the form of words and visual presentations.

5. Experiments:
Analysis based on experiments helps the investigators to
change the set limits and observe the results according to
these changes. These projects usually take place in
dedicated laboratories, but can be done at other places as
well.
Observations:
Observations is the basic weapon at the disposal of the
professionals undertaking your projects. Observational
research plays a dynamic role in gathering crucial market
data, which all the other methods cannot do.

6. Applied Research: Applied research helps you to understand
responses to all the critical issues and problems disturbing your
business.
Developmental Research:
Developmental research study is very alike to applied analysis.
However, it primarily focuses on using known solutions for
product improvements and new business ventures.
Basic Research:
Basic study concentrates of collecting all the basic things that
are crucial yet unknown for the business or product.

7. Criteria of Good Research
• The purpose of the research should be clearly defined and common
concepts be used.
• The research procedure used should be described in sufficient detail
to permit another researcher to repeat the research for further
advancement. Keeping the continuity of what has already been
attained.
• The design of the research should be carefully planned to yield results
that are as objective as possible.
• The researcher should report with complete frankness, flaws in
procedural design and estimate their effects upon the findings.

8. Qualities of a good Research
• Good Research is Systematic: It means that research is structured with
specified steps to be taken in a specified sequence in accordance with the
i. well defined set of rules. It does not rule out creative thinking but it
certainly does reject the use of guessing and intuition in arriving at
conclusions
• Good Research is Logical: This implies that research is guided the rules of
Logical reasoning" and the Logical process of "Induction Deduction" are of
great value in carrying out research. Induction is the process of reasoning
from a part to the whole whereas deduction is the process of reasoning
from some premise to a conclusion which follows from that very premise.
In fact, Logical reasoning makes research more meaningful in the context
of decision making.

9. WHAT IS THE “ICE-BERG” PRINCIPLE?
•THE ICEBERG THEORY IS A STYLE OF WRITING COINED BY
AMERICAN WRITER ERNEST HEMINGWAY. HEMINGWAY
BELIEVED THE DEEPER MEANING OF A STORY SHOULD NOT
BE EVIDENT ON THE SURFACE BUT SHOULD SHINE
THROUGH IMPLICITLY.

10. The dangerous part of many business problems is
like the Submerged portion of the Ice-berg
 A sailor on the sea notices only small part of an ice –berg. Only 10 percent of it
is above the surface of the water, and 90% percent is submerged. The
dangerous part of many business problem, like the submerged portion of the
iceberg, is neither visible to nor understood by managers.
If the submerged portions of the problem are omitted from the problem definition
the decision based on the research may be less than optimal.

11. Several Interrelated steps in the Identification
of Research Problem.
• Ascertain the decision maker’s objectives.
• Understand the background of the problem.
• Isolate and identify the problem, not the symptoms.
• Determine the unit of analysis.
• Determine the relevant variables.
• State the research question and research objectives.

12. ISOLATE AND IDENTIFY THE PROBLEM NOT
THE SYMPTOMS.
• Anticipating all of the dimensions of a problem is
impossible for any researcher or executive. For
instance a firm may have e problem with
advertising effectiveness.

13. Ascertain the decision maker’s objectives.
•Many business research projects begin without clear
objectives problem definition. Managers are logical
people and it seems logical that definition of the
problem is the starting point for any enterprise ,
frequently researches and managers cannot discover the
actual problems because the lack sufficiently detailed
information

14. UNDERSTAND THE BACKGROUND OF
THE PROBLEMS
•Often experienced managers know a great
deal about a situation and can provide
researchers with considerable background
information about previous events and why
those events occurred.

15. Determine the unit of analysis.
■ Defining the problem requires that the
researchers determine the unit of analysis for
study..

16. DETERMINE THE RELEVANT VARIABLES.
• Another aspect of problem definition is identification of the key
variables. The term variable is an important one in research. A variable
is defined as anything that varies or changes in value. Because a
variables represents a quality that can exhibit differences in value,
usually in magnitude or strength, it may be said that a variables
generally in anything that may be assume different numerical values