Understanding Business Research Goals and Objectives

1. Business and Management Research WELCOME

2. Lecture 2 Business and management research?

3. Learning objectives By the end of this lecture, you should understand: ■ What is a business research? ■ What do business and management researchers study? ■ What is a research idea? ■ the definition of Goals and Objectives

4. What is a business research? • Business research may be defined as a systematic inquiry whose objective is to provide the information that will allow managerial problems to be solved. • Management problem : any problem or opportunity that requires a management decision. • In real life, management problems are not always so clearly defined.

5. What do business and management researchers study?

6. What is the problem facing the researcher or manager? Air Swiss Case You work for Air Swiss, an aviation company that is searching for new international partners. The senior vice president for development asks you to head a task force to investigate six companies that are potential candidates. You assemble a team composed of representatives from the relevant functional areas. Pertinent data are collected from public sources because of the sensitive nature of the project. You examine all of the following: company annual reports; articles in business journals, trade magazines and newspapers; financial analysts’ assessments; and company advertisements. Your team members then develop summary profiles of the candidate firms based on the characteristics gleaned from these sources. The final report highlights the opportunities and problems that acquisition of the target firm would bring to all areas of the business.

7. Discussion How carefully you read and understood the case?

8. Discussion How carefully you read and understood the case? ■ The researcher’s/manager’s problem is fairly well defined in the Air Swiss case. ■ In the Air Swiss case, the senior vice president for development must make a proposal to the president, or possibly the board of directors, about which is the preferred international partner with which to join forces.

9. The research Spiral

10. Research Process • The research begins with a problem and proceeds through data collection and analysis to the written report.

11. What is a research idea? • Good research starts with something that catches your attention (Weick, 1992) • A research idea is general enough to describe anything you might research (Lundberg, 1999) • A research topic defines an area to research • A research setting and sample will emerge

12. Generating ideas for your research project • Good ideas come from all kinds of places • Don’t close down the idea-generation process too early • Don’t let your method or context dictate your topic

13. Getting to one idea

14. One that you identify One that is identified for you by an organisational sponsor One that comes from the world Make sure that it is relevant Sources of ideas

15. Brainstorming • A technique for generating and selecting ideas • Sources of ideas might include • Your personal interests • Your studies • Other students’ projects • Other sources

16. Selecting ideas • Does it meet the project requirements? • Is it relevant to any practical problem? • Am I interested in this project? • Is it worth studying?

17. Characteristics of good research topics • Your topic satisfies project guidelines • Your topic is feasible or possible • Your topic is relevant to business and management practice • Your findings/recommendations are relevant to your project stakeholders

18. Refining your research topic • Narrow down the topic to a reasonable scope using research questions that • define your research topic • define the nature of your research • define the issues that you will explore • Use the literature for support

19. Using a hierarchy of concepts to refine your research topic

20. Goals/Objectives • The most important element of a successful research is the development of attainable goals and measurable objectives

21. Goals and Objectives Objective One Objective Two Goal Objective Three Maintain a clear connection between your goals and objectives.

22. Goals: Characteristics • Describe the overall purpose of the research • Describe broad outcomes and concepts (what we want to accomplish)

23. Objectives • Specifically state how the goals will be achieved • Are measurable: Define what you want to see

24. SMART Objectives • Specific: Be precise about what you are going to achieve • Measurable:Quantify the objectives • Appropriate: Align with the needs of the target audience • Realistic: Do you have the resources to make the objective happen? • Time-Specific: State when you will achieve the objective

25. SMART: Specific Objectives Specific: Be precise about what you are going to achieve • Specify target • Specify intended outcome • One outcome per objective • Sample: By January 2010, at least 3% of the engineering majors at the institution will be female

26. SMART: Measurable Objectives Measurable:Quantify the objectives • Use measures as indicators of program success • Sample: By January 2010, at least 3% of the engineering majors at the institution will be female

27. SMART: Appropriate Objectives Appropriate: Align with the needs of the target audience • Meeting the objective will advance the goal • Identify a specific target audience • Are inclusive of diversity within your group • Sample: By January 2010, at least 3% of the engineering majors at the institution will be female • Note: The “A” is sometimes called “Attainable” or “Achievable” in the literature.

28. SMART: Realistic Objectives Realistic : Do you have the resources to make the objective happen? • Are important to stakeholders • Are adequately resourced • Can be achieved • Sample: By January 2010, at least 3% of the engineering majors at the institution will be female Take care on what you say you can do! The January 2009 baseline was 2%. Is a 1% increase in one year realistic?

29. SMART: Time-Specific Objectives Time-Specific: State when you will achieve the objective • Provide timeframe indicating when objective will be met • Sample: By January 2010, at least 3% of the engineering majors at the institution will be female