Business Research Methods: Data Collection and Philosophies

This report provides a comprehensive overview of business research methods, emphasizing the importance of value in research and the systematic approach required for effective data collection and analysis. It outlines key elements such as identifying research subjects, conducting literature reviews, clarifying subjects, defining concepts, and selecting target markets. The report also delves into the significance of research philosophies, particularly ontology, positivism, and interpretivism, and their impact on research design and data collection methods. Furthermore, it discusses the practical steps involved in business research, including data collection techniques like questionnaires and surveys, and the crucial role of data analysis in making informed business decisions. Overall, the report highlights the interconnectedness of these elements and their contribution to achieving business goals and objectives.

Business Research
Methods

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Role of value in research along with ways of conducting appropriate research....................1
Appropriate research philosophies.........................................................................................4
Data collection........................................................................................................................6
Conclusion.......................................................................................................................................7
REFERENCES..............................................................................................................................10

INTRODUCTION
Business research can be defined as a process by which researcher collects information of
each department and area of their business and make better decision on which basis (Bell,
Bryman and Harley, 2018). This present study is going to show importance of conducting
business research along with ways of conducting them in an effective manner which includes:
identification of subject, data collection, clarifying subjects and all. Business research methods
consists of several ways of collecting information about business or industry but selection of the
best way mainly depend upon the nature of the research topic and target market as well. Further,
this study will discuss different types of research philosophies which are one of the main
elements of research and allows researcher in gathering, analysing and using data in an effective
manner. Some research philosophy which this study will discuss include: axiology, epistemology
and others. It will also show reasons of using particular research philosophy and suitable data
collection method on them.
MAIN BODY
Role of value in research along with ways of conducting appropriate research
Research methodology plays an important role in conducting research successfully. It consists if
several elements which needs to be followed by researcher in a systematic manner. The very first
element of research is research type on which basis further elements depend. There are some
important elements of research such as: research philosophy, research approaches. Before
discussing more it is important to understand the meaning of business research and why it is
important (Bougie and Sekaran, 2016). So, in this context, it can be said that business research is
a procedure of getting detailed information of all areas of business in order to take better decision
and increasing sales by making use of all those information. An organization consists of several
departments like purchasing, sales, marketing which performs their individual and allocated roles
like identifying needs of customers, current market trends, current market condition, business
environmental factors, economic condition etc. All these departments are linked to each other’s
and one of the main common aims of all departments in satisfying needs of customers.
Customers’ satisfaction is the main key of the success and companies can accomplish their all
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goals. But for that company require making decision and for that they require appropriate and
detailed information of all departments of areas of business. And these information’s can be
acquired by research. So, overall it can be said that having an ability of research and collecting
data is the main function and key of the success (Hair Jr, Page and Brunsveld, 2019).
Importance of value in business research: Values also plays an important role in research as it
improves image of the company and researcher. They help businesses in creating the future that
they want to experience and operate. Business environment is a changing environment and for
making it favourable it is important for researcher to maintain value and conducting all
functions, research, and data collection in an ethical manner as it helps businesses in deciding
and identifying the difference between the right and the wrong conduct. Hence, it allows them in
preventing themselves against errors and mistakes. In addition it can also be said that value
created in research study helps researcher in communicating with customers and target market in
an effective manner. By creating value in research and interacting with customers in a better way
companies can identify opportunities and threats as well and it can help them out in using their
own strengths in taking opportunities. By doing so, they can reduce or minimize risks which may
occur in business environment and create several problems (Chicksand and Rehme, 2018). By
doing so, researcher can make customers believe that they perform all functions in an effective
and ethical manner and customers who find businesses sustainable are more likely to stay loyal
with the company for the long run. So, overall it can be said that by adding value and
maintaining value in research, companies can take several advantages and increase profit as well.
There are some steps by which companies can create value and conduct business research
in an effective manner such as:
Identification of subject: There are different topics on which researcher is being
conducted. But in the context of business research in which main focus of researchers is getting
detailed information, there is a subject of getting detailed information of all detailed and areas of
business. So, before collecting information, it is important for researcher to select and identify
the main subject of conducting research. For example, company wants to know effectiveness of
motivation or ways of motivation to employees, roles of engaged employees, ways of increasing
innovation and others.
Finding literature: For related and chosen topic researcher have some knowledge but for
making sure and taking better decision related to the topic they need to conduct literature.
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Literature helps researcher in taking better decision as it provides several views of authors and
stakeholders. By analysing all their views and by comparing it with teh topic they can make
better decision related to the topic. For example: If a business wants to gather information related
to ways of motivation then by conducting literature he can get several ways and bys discussing it
and making use of decision making or analysing he can select the best one and use it in its
business and can retain employees. So, it can be said that literature plays an important role in
conducting research in an effective manner.
Clarifying the subject: After selecting topic and conducting literate, researcher requires to
identify the scope of the study and the selected topic as it can make it beneficial and selected
topic is good for their business or not. After making sure about the selected topic and
information collected from literature researcher requires following further steps of research
conducting (Ghauri, Grønhaug and Strange, 2020).
Defining concepts: Every subject has its own terms and concepts and it may be social,
cultural and specific. So, it is important for researcher to make use of effective words in research
as all words which they use direct affect the whole study. And for selecting and making use of
words researcher requires defining the main concept of the subject. By defining all terms it may
help others in understanding outcomes and effectiveness of research and also help businesses in
talking decision.
Target market: Different topics or subjects have different target market but in the case of
business research, main target are customers and employees because companies know that
customers and employees are main stakeholders and all functions are also being conducted for
them only. By satisfying customers and employees companies can make themselves beneficial.
The main aim of selecting target market is to focus on them and collecting information related to
them. It helps businesses in keeping on the right track and do not influence them from their path.
It is not possible for researcher and business to work on the large audience so, by selecting the
target market as per the topic they can better focus on them.
Making n instrumentation plan: It is other main step of conducting a research in an effective
manner. In this step researcher or business identify most important parts of the study which
needs to be focused the more and success is depended on them mainly (Easterby-Smith and
et.al., 2018). By making list of important tasks and parts of study, researcher can gather
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information related to them and can complete them in a timely manner as it helps them out in
completing the whole research in a timely manner.
Data collection: It is the main critical and important part as without collecting data it is not
possible to even compete the research study, for making decision, accomplishing goals,
identifying different views, researcher and business requires collecting data. There are different
ways of data collection which depends upon the type of data collection as whether it is primary
or secondary data collection;. In primary data collection, researcher focuses on collecting brand
new data and in secondary he gathers second hand data. For primary data collection, researcher
may use questionnaire, observations, interview, survey and all. For secondary he may choose
internet, books and journals, libraries and articles in which information related to the topic have
been published already. But many researchers make use of both types in order to get detailed
information and for business researcher where main target are customers and employees they
often chose questionnaire or survey.
Analysing data: In conducting research this step is considered the last stage in which after
collecting all information, researcher requires analysing data for making them accurate. By
making use of appropriate data analysis tools as per the research type, they analyse collected data
and then make use of all those analysed data in making decision and accomplishment of goals. It
is believed that researcher needs to give time in this step because proper research studies require
time to bring effective and accurate results and it can be gathered only by analysed data (Onen,
2016).
So, from the above discussed all steps and ways of conducting business research it can be
said that researcher can get accurate and detailed information of all parts of business and can
meet their goals. By following all steps in a systematic manner they can meet their goals and
vision o f the company for which they have conducted business research.
Appropriate research philosophies
There are several philosophies of research and selection of one of the approach is one of the
critical tasks for researcher. It is important for scholar o select appropriate research philosophy
and for selecting they focuses on the nature of the research study as well as research type.
Selection of research philosophies is depend upon research approaches and research type.
Research philosophy is a way in which information are being gathered, analysed and used and it
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relates to the development of knowledge as well as the nature of that knowledge (Ransfield,
2020). There are main 4 pillars of research philosophy on which basis it is being subdivided such
as: positivism which refers reality, realism which stated that objects exists independently of
knowledge, interpretivism which researcher tries to understand difference between humans roles
as a social care and pragmatism which argues that researcher can work within interpretivism and
positivism at once.
As per the research type, it is being mainly divided into 2 part such as interpretivism and
positivism. For qualitative type of research in which researcher focuses on collecting data or
information in non numerical form, uses interpretivism philosophy. Whereas, for quantitative
research in which scholar collects data in numerical or numbers form, uses positivism
philosophy. Positivism research philosophy believes that society plays an important role in
shaping individuals and relies on scientific evidence and interpretivism believes that individuals
shape society (Evans, 2018). Subdivided research philosophies are being discussed in a detailed
manner along with reason of selection, appropriate data collection and all.
Ontology: It is known as the first branch of research philosophy which is concerned with the
actual facts as what actually exists in the world by which people can increase and get knowledge.
It plays an important role as it helps scholars in recognizing that how certain they can be about
the nature of all those things they are researching on. It is also stated that realistic ontology
research philosophy is related to the existence of a single reality. Researcher can understand
experience this single reality as a truth and can believe that all around us exists independent as
human experience. On the other hand, relativist ontology states that reality and the truth is
constructed by people in their mind and it all depends upon their thinking and mind set (Al-
Ababneh, 2020).
In business research ontology is being defined as the science of facts and the nature of
reality. Information is being gathered on the basis of interpretation done by people about what
constitutes a fact. So, overall it can be said that by getting realistic views of people, researcher
can gather information and make decision which can help them out in accomplishing their goals
related to the topic.
Epistemology: It is known as the second branch of research philosophy in which researcher
focuses on getting detailed information for increasing knowledge. It is concerned with all main
aspects of scope of the study, validity and methods of gaining knowledge. It is a source of
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knowledge and it allows researcher in business research in framing research in their attempts to
acquire knowledge. There is requirement for researcher to make an effective relationship
between the subject and the object in order to get detailed information of all aspects. In the
context of objectivist epistolary it can be said that in this researcher believes that reality exists
outside of individual mind. So, because of this view it helps researcher in increasing validity of
research. Whereas, Constructionist epistemology do not agree on objectivist epistolary that
reality exists outside in mind of individuals and it completely ignore this idea of truth exists and
researcher requires discovering it. So, it believes that we all require generating truth and it cannot
be pre existed in the mind of people. According to this constructionist type, researcher requires
shaping the truth and all other aspects as per their requirement which can be fit the purpose of
people. So, it can be said that it is an effective source of knowledge and by focusing on this
which is concerned with possibilities; researcher can acquire knowledge and gather information
(Žukauskas, Vveinhardt and Andriukaitienė, 2018).
There are several other branches of epistemology which include essentialism, progressivism,
idealism and rationalism. All these are being selects according to the research type and topic of
the study. Data collection is also being selected as per research philosophies.
Axiology: Axiology is the study of value or an effective theory on the nature of value which
plays an important role in conducting research. So, it can be said that it is other important branch
of research philosophy which mainly deals with the nature and its types of values. In this type,
researcher focuses on studying on ethics and values related to the topic and get information
accordingly. It also helps them out in increasing their knowledge. In this type, human flourishing
is being viewed as a process of social participation where they makes a mutually enabling
balance between people and make them able to share their views. By doing so, researcher get
information and increases value of the study and knowledge which they gather (Frunză, 2017).
Human flourishing is also being valued as intrinsically and participatory decision making is
viewed as means to an end. It makes all participants able to take better decision and help
researcher in accomplishing their goals related to the selected business research topic.
Data collection
There are mainly 2 types of data collection such as primary and secondary. It is also depends
upon the nature of the topic and target market. Few businesses and researcher focuses on primary
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whereas, some focuses on secondary data collection. But some focuses on both on the basis of
type of data collection and the type of research philosophies which are being discussed above,
scholars gather information and uses appropriate sources. In primary data collection, researcher
mainly focuses on questionnaire as it is suitable with all types of research philosophies. By
making use of observation and questionnaire, researcher meet with target market face to face and
try to get the real facts, reality about the main research topic. On the other hand, by making use
of internet, books and journals, articles. By making use of published data in such things,
researcher collect information and it is somehow and to some extent related to discuss research
philosophies (Carmichael and Cunningham, 2017).
In more detail it can be said that after selecting sources of data collection for better business
research, scholars require analysing them. Because it is believed by researcher whatever and
from wherever they collect information whether they are from questionnaire and articles have
some accuracy problems. Participants in questionnaire do not give accurate information may be
because of fear and other reasons. So, because if this they use data analysis tools according to the
type of research. For example: if researcher acquires and gather information in numerical form
by participants in other sources then he makes use of quantitative tools and if they collect
information in non-numerical form then they may select qualitative data analysis tools. By
making appropriate use of data analysis tools, researcher can help businesses in providing
validate and accurate information which is important for them in taking better decision and
making business research successful (Freimane and Bāliņa, 2016).
So, from the above discussed all types of research philosophies it can be said that researcher
can increase his knowledge by gathering realistic information and also increase value of research
study. Without selecting the better and appropriate research philosophy, researcher find
difficulties in selecting sources of data collection which may affect the whole study.
Conclusion
From the above study it has been summarized that conducting a business research on some
specific or any type of topic played a vital role as it allows businesses in getting detailed
information of their each area of business. All gathered information via conducting and
following alls systematic steps of it, researcher and businesses take better decision which helps
them out in accomplishing goals. Further, this study has discussed some ways or important steps
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by which researcher can conduct a research in an effective manner and can gather appropriate
information related to the topic and help their businesses in meeting their goals or taking
competitive advantages. This study has also shown importance of research philosophy and
selecting the best one as it allows in selecting the best way of collection, analysis and using data.
It also provides an underpinning framework by which they can understand their research in a
effective manner for better completion. Different philosophies plays different roles and they are
being selected on the basis of the nature of research and research type.
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REFERENCES
Books & Journals
Al-Ababneh, M.M., 2020. Linking Ontology, Epistemology And Research
Methodology. Science & Philosophy, 8(1), pp.75-91.
Bell, E., Bryman, A. and Harley, B., 2018. Business research methods. Oxford university press.
Bougie, R. and Sekaran, U., 2016. Research Methods For Business: A Skill Building 7 ed. Wily.
Carmichael, T. and Cunningham, N., 2017. Theoretical Data Collection and Data Analysis with
Gerunds in a Constructivist Grounded Theory Study. Electronic Journal of Business
Research Methods, 15(2).
Chicksand, D. and Rehme, J., 2018. Total value in business relationships: exploring the link
between power and value appropriation. Journal of Business & Industrial Marketing.
Easterby-Smith, M. and et.al., 2018. Management and business research. Sage.
Evans, N.G., 2018. Ethical and philosophical considerations for gain-of-function policy: the
importance of alternate experiments. Frontiers in bioengineering and biotechnology, 6,
p.11.
Freimane, R. and Bāliņa, S., 2016. Research and development expenditures and economic
growth in the EU: A panel data analysis. Economics and Business, 29(1), pp.5-11.
Frunză, S., 2017. Axiology, Leadership and Management Ethics. Meta: Research in
Hermeneutics, Phenomenology, and Practical Philosophy, 9(1), pp.284-299.
Ghauri, P., Grønhaug, K. and Strange, R., 2020. Research methods in business studies.
Cambridge University Press.
Hair Jr, J.F., Page, M. and Brunsveld, N., 2019. Essentials of business research methods.
Routledge.
Onen, D., 2016. Appropriate conceptualisation: The foundation of any solid quantitative
research. Electronic Journal of Business Research Methods, 14(1), p.28.
Ransfield, A., 2020. Reflecting on applying Kaupapa Maori research philosophies in tourism
research. CAUTHE 2020: 20: 20 Vision: New Perspectives on the Diversity of
Hospitality, Tourism and Events, p.496.
Žukauskas, P., Vveinhardt, J. and Andriukaitienė, R., 2018. Philosophy and paradigm of
scientific research. Management Culture and Corporate Social Responsibility, p.121.
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