Master of Business (Research) BUS604 Essay: Research Methods

This essay provides a comprehensive overview of business research methods, delving into the nature of reality and the role of value in research. It explores the essential steps involved in conducting effective research, emphasizing ethical considerations and the importance of adding value to the process. The essay examines various research philosophies, including positivism, realism, interpretivism, and pragmatism, alongside key paradigms like ontology, epistemology, and axiology, highlighting their significance in data analysis and knowledge development. It discusses data collection methods, including both primary and secondary sources, and stresses the importance of identifying the target market and scope of the research. Furthermore, the essay underscores the significance of ethical conduct, scope identification, and data analysis in creating valuable and successful research, offering insights into how these elements contribute to informed decision-making and business development.

Business Research
Methods

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Nature of reality and role of value in research as how they should be conducted.................3
Appropriate research philosophies.........................................................................................6
Data collection........................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Research refers a process of systematic inquiry in which researcher gathers information
related to the main topic. This information helps them out in better decisions and accomplishing
pre determined goals (Delen. and Zolbanin, 2018). Research methods play an important role as it
allows researcher in gathering information and then analyse them for taking better decision. This
present study of business research is going to show importance of value in research as how it
helps researcher in making their study successful and effective. It will also show all stages by
which scholar can create value in research and can make stakeholders sure that researcher has
advance knowledge. It improves their image and effectiveness. Some stages which this study
will show related to creating value include: selecting topic, conducting research, identifying
scope, data collection etc. Lastly, it will discuss research philosophies and all paradigms such as
epistemology, ontology, axiology and others. All these paradigms help researcher in analysing
all information which they gather as what people think, why they think so and others. Different
paradigms increase value of research by making a relation between the subject and the object.
MAIN BODY
Nature of reality and role of value in research as how they should be conducted
Conducting research is not an easy task as researcher has to follow several steps for
accomplishing goals. One of the main functions of success of research is adding value in
research. There are several elements in research methodologies which researcher has to follow
for making their project successful. Some important elements of RM include: research
philosophy, research approaches, data collection and data analysis (Verbeke and Ciravegna,
2018).
Research can be defined as a process which is being followed by researcher for gathering
detailed information related to the topic. One of the main reasons of conducting business
research is to take better decision which can help company in accomplishing their pre determined
goals and business development. There is requirement for businessman to take better decision by
getting all information of each department like: marketing, finance, HR, sales and others. Other
main reason of getting all information related to all departments is to make changes for
improvement and it is also believed that these departments are mainly responsible for satisfying

needs of customers. So, by getting information business man can take decision and can also
make changes accordingly and it can only be possible by business research.
Role of value in research: Research plays an important role as it allows researcher to interact
with their target market in a better way and make them able to provide information for taking
better decision. It can only be possible when research is valuable and make target market feel
valued. Values improve image of the company and make them able to being in the competition
by creating future which they want to experience. For adding value in research, researcher
requires following all function in an ethical manner as it can help them in reducing negative
effects of changing business environmental factors. All values like honesty, integrity, and
fairness help customers in knowing that researcher organization advances knowledge (Trieu,
2017). One of the main reasons of performing function in an ethical manner and adding value is
to take advantages of all opportunities like competitive advantages, staff retention rate, improve
performance and others. For creating value also, researcher has to follow some steps in a
systematic manner.
Ways of conducting valued research
Value of research may be added when it is being conducted in an ethical manner. Values
are interrelated with ethics each other as when researcher completes all functions in an ethical
and right manner then it adds value in research. Scholar can conduct research in an ethical
manner only when he has knowledge about difference between the right and the wrong. For
adding value in research, scholar requires satisfying all needs of participants and makes them
feel valued and for them they need to treat with all, participate in a fair manner (Poff, 2020). To
not pressurize them for participating in research etc. So, it is one of the main factors which need
to be considered by researcher for making their study successful. It can boost their confidence for
conducting research in the future in an effective manner.
Other main factor along with ethics which can allow researcher in conducting valued
research is scope identification. It is also important for researcher to identify scope of selected
topic as to which extent it can help companies and researcher. They also need to identify as
whether selected topic is beneficial at academic level or have benefits at commercial level also. It
increases interest of researcher and boost confidence for gathering information and performing
further steps which can help them out in adding value and making research successful. After
identifying scope and viewing as to which extent this topic or study can help researcher, they

need to identify their target market. Target market is the one whose satisfaction decides success
and value of research. Target market is one of the main steps of creating value in research
because without identifying stakeholders and target market it cannot be possible for researcher to
accomplish goals. Success of research depends upon satisfaction of target market. Target market
also depends upon the nature of the subject. Main target market is customers, employees and
general people. By targeting, researcher find easier in gathering information related to them and
only focusing on them rather focusing on the population. It also keeps researcher on the right
track and researcher can also measure effectiveness of research by focusing on target market
only.
Rather than above factors, there are one of the main other factor which can help
researcher in adding value and making research successful is data collection. Researcher
requires gathering detailed information relevant to the topic. For that they need to select specific
topic as without selecting topic or subject it is not possible to conduct research because all
information which researcher gathers is based on the main subject. For example: If an
organization wants to identify effectiveness of motivating employees then research will gather
information related to ways and benefits of motivated employees. Data collection is the main key
of success and effectiveness of research study which add value in it. By collecting data only,
researcher can accomplish its pre determined goals and can help companies in developing their
business. Different methods of data collection are being used by researcher and selection of data
collection method also depends upon the nature of topic. For example: if researcher wants to
gather information related to effectiveness of motivated employees then it will require focusing
on employees of organization for which they conduct research. In primary data collection,
researcher gathers brand new data by focusing on questionnaire, interview and others modes.
Whereas, in secondary data collection, researcher gathers second hand data which have been
published already. By making use of internet, published articles, researcher can collect data
relevant to the business research topic as what are some factors which can motivate employees
(Clark and Vealé, 2018). But in business research, scholar mainly focuses on primary data
collection by making use of questionnaire. But sometimes researcher makes use of both data
collection order to get detailed information and taking better decision. By focusing on primary
data collection, researcher can increase their knowledge and can know views of sample as why
they think like this and what they think.

After collecting data from questionnaire or from target market, researcher requires gathering
details on which same topic of study have been conducted already. For this purpose or gathering
detailed information, researcher requires conducting literature. These literatures help them out in
better decision making and accomplishing goals and it is the main element of adding value in
research. Literature is one of the best and effective ways of data collection in which researcher
get different views of authors on the same topic. By conducting research and critical analysis of
different articles published by different authors, researcher can identify effectiveness of
motivation as a topic (Virgin, Shaw and Grant, 2017). They also require identifying important
tasks which needs to completed in a timely manner. It helps researcher out in making an
effective plan accordingly on which basis they can complete goals by performing functions
(Belderbos and et.al., 2017)..
One of the last factors which can allow researcher in creating valued research is moulding
all collected data. In order to make all collected data accurate and adding value in research it
plays an important role. Researcher can increase value of any research only when, they have
accurate data because only on the basis of accurate and analysed data, researcher can take better
decision and can accomplish goals. There are mainly 2 types of data analysis tools such as
qualitative and quantitative. If researcher gathers all information in numerical form then they
have t use quantitative data analysis tool for making non numerical data accurate. When
researcher gather data in non numerical form or in words form then they have to use qualitative
data analysis tools which can make them able to make their research successful and improve
their image.
So, from the above discussed all factors, it can be said that researcher can conduct valued
research if they are being considered.
Appropriate research philosophies
There are several philosophies used in different research and selection which are needed to be
reviewed by the researchers as part of critical task. It is considered significant for researcher and
scholar for selection of appropriate research philosophy according to the nature and type of
research study. Research philosophy is important aspect for gathering information analysing it
and knowledge relations development. in term of research philosophies.

There are 4 major pillars of the research philosophies which have further subdivision such as
positivism which have clear reference to reality, realism which indicates existence of objects
independently of knowledge, interpretivism which make the researcher to create greater level of
understandability between roles of humans as social cares and pragmatism. This makes
researcher to have development arguments regarding the working within interpretivism and
positivism.
It has a clear dependence on research type mainly dived into the 2 part such as interpretivism
and positivism. In term of qualitative research, researcher have the need to focus upon the
collection of data in non-numerical for with the application of interpretivism philosophy. on the
other hand, in the quantitative research, the researcher has need to collect all data in numerical
format with appellation of positivism philosophy. The latter research philosophy approach has
believed over significant role of society in shaping respective individuals along with reeling of
scientific evidence. In addition, interpretivism have believes that’s individuals are having success
in formation and shaping of society. So, there are various level of criticism prevailed among
researcher in subdivided research philosophies along with association of different reasons of
selections and appropriate data collection.
Ontology
This is referred as the first branch of the research philosophy which is more importantly
concerned with factual knowledge and facts existing in the world. This knowledge will be
helpful in creating greater level of awareness among individuals with help out in understanding
and recognizing the differ scenario on which nature is relaying. It is more obvious that’s
researcher or scholars have need to find out the answer in the natures following specific strategy
and performance. It is also stated as realistic ontology in research philosophy have relation in
existences of single identity. Researcher have need to understand single reality as significant
truths along with believing all facts which are revolving around it. This have existences as
independent as human experiences. On the other hand, relativist ontology has to settle down as
all the truth and reality is constructed by human beings in their respective mind which have its
major dependency on differ thinking and mindset.
Hence, in business research, ontology is being defined as science of facts and nature of reality.
All the information is needed to gathers on the interpretation basis done by different people soon
constricted as facts. Overall, it can be stated as getting out the realistic view of different people,

researcher have gathering all information’s and make specific decision which help them out in
the accomplishments of different goals related to different topics and information in relation to it.
Epistemology
This is the second branch of research philosophy in which researcher have to gather detailed
information regarding the increase in term of knowledge. This is important adapt concerned
study scope, validity of different research methods for gaining knowledge. This approach is
helpful in formation of business research attempts building effective level of relationship
between subject and objects. This kept to get up with detailed information’s of all aspect in
significant manner. In the context of objectivist epistolary it can be said that in this researcher
believes that reality exists outside of individual mind. So, this view make researcher to believes
in reality existences outside individual mind increasing the respective validity of research.
On the other hand, Constructionist epistemology do not agree on the term of objectivist epistolic
where reality exist outside invidious mind with complete ignorance’s of truth idea which need
continuous discovering to certain extent of time. So, it believes that we all require generating
truth and it cannot be pre-existed in the mind of people.
As per the constructionist type, the researcher has clear requirements for shaping the truth which
tends to be fit in purpose with appropriate purpose. So, it can be state as effective source of
knowledge focussing on concerned possibilities. In addition, researcher have requirement of
proper acquiring of knowledge and gathering of different information. There are several other
branches of epistemology which include essentialism, progressivism, idealism and rationalism.
there is need to have selection of research types and respective study topic. Data collections are
also being selected as per the requirement of research philosophies.
Axiology
This approach is study of values or effective theory in relation to natures as an important aspect
in completion of research. It is important branch dealing with ethics and value related to get and
synchronize information according to it. This approach is helpful increasing knowledge. In this
type, human flourishing is being viewed as a process of social participation where they make a
mutually enabling balance between people and make them able to share their views. with this
researcher get information and knowledge for value helping out in instinctual and participatory
decision making viewed at all end. It will make all participant to take effective decision making

and help out the research in accomplish the respective goals related to selected business research
topic.
Data collection
Data collection is important aspect of business research which states to gather all information for
analysing for meeting the respective ends of objectives. The pragmatic paradigm has great
contribution in the field of social science research. The main contribution is that it makes the
social science research transferable. The pragmatists claim that the knowledge gained through a
mixed-method approach can be if not completely partially applied to other circumstances
There are mainly two type of data collections such as primary nd secondary data collection
approach. The researcher has major focus on development of primary research as well as
secondary research. Both the approaches are different and systematic paths to collect the data
which totally depends on the relevancy of research topic and research type. In the primary data
collection, researcher have focuses on questionnaire suitable with different types of research
philosophies. the use of observation and questionnaire, researcher meet with target market with
face to face and trying to get revelation of existing facts and reality about the main research
topic. Pragmatism has provided an effective alternative to previously qualitative-only research.
Though it also means that there should have to have a properly integrated methodology to reach
to the right answers of the research questions. On the other hand, latter approach has the major
usage of internet, books and journals, articles. the getting use of published data, researcher teds
to get will information which is someone related to major extents to be discuss with different
research philosophies in respective manner.
In the epistemology will be propounding the researcher conceptualization with proper data
collection and analysis. In addition, the selection of research sources for data collections, scholar
have need to analyse the different research method approaches and decide with fit best in it.
Above statements is stated researcher have the too collects data in form of from questionnaire
and articles will have the accuracy problems due to certain extent. As while filling up the
questionnaire, it is greater level of possibility that respondent will not respond with appropriate
accuracy which can be due to several reasons and fear. So, because if this they use data analysis
tools according to the type of research.
for example- if in situation, researcher is gathering all information in numeric format, then he has
to make use of quantitative tools. On the other hand. there has collected information for

secondary sources in numerical formats will make researcher to have use of qualitative data
analysis tools. The use of appropriate data analysis tools, Researcher will get helps in providing
business with validate and accurate information creating better decision making and research
successful in all manner. So, firm all the types discussed above in term of research philosophies
will be helping out the research in gaining respecting knowledge and gathering of realist
information. This will create value of study. Hence. it can be concluded as per selection of better
research philosophies will reduce differ challenges faced by researcher and create positive
impact on study.
CONCLUSION
From the above study, it can be summarized as conducting a business research on the specific
topi played avital roles in allowing business to be with detailed information of each are of
business. All the gathered information via following all systematic steps of it, researcher and
businesses take better decision which helps them out in accomplishing goals. Further, there
report have conducting of all information for researcher and businesses take better decision
which helps them out in accomplishing goals nd meeting their competitive advantages. This
study has major level of importance in term of research philosophies by selecting one best way
of collections, analysing with using data. This will be providing the underpinning framework by
understanding research effective manner for better completion. As the different philosophies
plays different roles and they are being selected on the basis of the nature of research and
research type.

REFERENCES
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