CHAPTER ONE

INTRODUCTION TO BUSINESS RESEARCH

Introduction

Business research can be conceptualized as a systematic and objective method of finding solution to a business problem. It can also be defined as any organized enquiry that aims at providing data and informationfor solving identified business problems.  Also, business research can be defined as the systematic and objective collection, analysis, interpretation and reporting of data and information for business decision making.  We need or use business research to identify and solve problems.  A problem can be something every body has been talking about, or something most people do not understand, or something that has been causing anxiety, or something that is not clear, or a gap in existing knowledge.

Business research methodology may, therefore, be conceptualized as a general procedure for studying business research problems, issues or topics (Silverman, 1999). In this sense, business research method (which is a specific research approach for conducting business research) is different from business research methodology.  A business research methodology attempts to establish how a business researcher goes about studying relevant business phenomena of interest. Business research methods include quantitative techniques, observation, interviewing, and audio recording, among others. Business research methods are not true (valid) or false in themselves. Rather, they are more or less of importance to the researcher depending on their appropriateness with the theories and research methodologies employed, the hypotheses proposed, and the research problem being investigated, among others.

Research is universal.  Every researcher understands the jargon and language of research methodology, and research is carried out by natural and social scientists. More and more social scientists have come to believe that social benefit must always be the major aim of research.  Any research must try to identify and solve problems faced by the society. Every country, every business firm and the world at large face many problems.  These problems include rising prices, international monetary crisis, labour relations, static production, political and social problems, and planning in public and private sectors.  The researcher tries to find the truth to these problems.  A useful research may not be only applied research; it will be useful, also, if it contributes to theory building or methodology within a particular discipline. Generally, in any type of business research (basic or applied, qualitative or quantitative), the business researcher should endeavour to do or say a lot about a little thing/problem, rather than saying a little about
a lot of things/problems. This advice, if followed by upcoming/young researchers, would lead to being recognized as an expert in a particular area of knowledge or specialization in business management.