Business Research Methods
Business Research Methods
Business research techniques are scientific and systematic procedures of collecting, compiling, analyzing, and interpreting data. The research techniques are classified into various categories based on the purpose and nature of the research. The purpose and nature of business study determines the right business approach to employ. This article highlights 15 business research methods.
1. Qualitative Research: Qualitative research is typically based on unquantifiable components, non-numerical elements, emotions, or feelings (Quinlan, Babin, Carr & Griffin, 2019). The qualitative approach is recommended for any information that cannot be analyzed using the standard mathematical methods.
2. Quantitative Research: Quantitative research is the exact opposite of qualitative research and describes, resolves and infers problems utilizing numbers (Bell, Bryman & Harley, 2018). The quantitative researcher collects the numerical data, summarizes, and the draws inferences from the research data.
3. Conclusive Research: Conclusive research provides conclusive and final research answers to the study questions (Sekaran & Bougie, 2016). The conclusive also tends to be quantitative since the researcher take time to quantify and summarize numbers.
4. Exploratory Research: Exploratory research only explores the research areas but fails to provide conclusive answers to the study questions. Just like conclusive research method, exploratory approach is usually based on research design (Bell et al., 2018).
5. Fundamental Research: Fundamental approach is also referred to as the pure or basic research and its main objective is employing the core principles of the field to solve a business problem (Sekaran & Bougie, 2016). The Fundamental research approach also employs scientific techniques to boost the existing business theories and to provide better prediction or understanding of business phenomena.
6. Applied Research: Quinlan et al. (2019) indicate that applied research is anchored on an action technique that attempts to add the basics of the discipline to eliminate the theory. Both fundamental and applied research involves the adoption of scientific and systematic procedures to perform research. Both fundamental research and applied research focus more on the purpose of the business study.
7. Analytical Approach: Analytical research involves using the available information or facts to make a critical assessment of the research topic (Bell et al., 2018). Business experts and students employ the analytical approach to identify the most relevant and crucial business information.
8. Descriptive Approach: The descriptive method employs studies and surveys to identify the core facts (Sekaran & Bougie, 2016). Just like the analytical approach, the descriptive method is also based on the scope of the study.
9. Empirical Method: Empirical research focuses more on observation or experience and is based on data to provide clear conclusions that can be verified through experiment and observation (Sekaran & Bougie, 2016). The researcher first focuses on the facts and employ certain elements to simulate the desired research outcomes. Therefore, the researcher must first guess the possible results or state a working hypothesis.
10. Conceptual Approach: Conceptual research is another business research technique that relies on abstract theory or ideas (Bell et al., 2018). Business thinkers and philosophers can employ the method to reinterpret the existing business concepts or develop new concepts.
11. Longitudinal Approach: Longitudinal business research is performed over various timelines (Bell et al., 2018). The study also occurs on various touch points and researchers do not interfere with the study respondents.
12. Cross-section Approach: Cross-section business research involves comparing several population groups at one point in time (Bell et al., 2018). The cross-section approach allows the researcher to view the differences in the population subsets in various categories.
13. Inductive Approach: Inductive research typically generates theories and is usually associated with qualitative interviews. A deductive research approach mostly focuses on testing the theory and is mostly associated with surveys, datasets or quantitative assessment (Sekaran & Bougie, 2016).
14. Case Study: This is another common type of business research. A case study method is a comprehensive study of a specific group or an individual (Sekaran & Bougie, 2016). Case study researchers employ various methods of collecting and analyzing data including performing interviews and making observations, as well as, consulting the public and other people.
15. Single Time Research: Business researchers also perform single time research which mostly involves collecting, analyzing and interpreting individual or group data at one time (Bell et al., 2018). The data collected using the single time approach is relatively small compared to the data collected, analyzed, and interpreted in longitudinal research.
Apart from the fifteen researcher techniques discussed here, a business can also employ other research methods including Delphi, and theoretical approaches based on the purpose and the nature of the study. However, the researcher should always employ a research method that best suits the expected outcomes of the study.
References
Bell, E., Bryman, A., & Harley, B. (2018). Business research methods. Oxford university press,
3-15.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach.
John Wiley & Sons, 2-21.
Quinlan, C., Babin, B., Carr, J., & Griffin, M. (2019). Business research methods. South Western
Cengage, 21-41.
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