BRM Report

BRM Report: THE ROLE OF "RESEARCH" IN THE "BUSINESS"

13.8.10 Sadia 1 comment

Business Research Methods Report:

The measurement of the satisfaction level of commerce students in Multan

Business research covers a wide range of phenomena. For managers the purpose of research is to fulfill their needs for knowledge of the organization, the market, and the economy, the consumers or another area of uncertainty.

A financial manager may ask, "Will the environment for long-term financing be better two years from now"?

A personnel manager may ask, "What kind of training is necessary for production employees"?

A marketing manager may ask, "How can I monitor my sales in retail trade activities"?

A purchase manager may ask, "From where and from whom I can purchase different things at lower cost with no commitment on quality".

Each of these questions require information about how the environment, employees, customers, or the economy will respond t executive's decisions research may be one of the principal tools for answering these practical questions.

WHAT IS BUSINESS RESEARCH

Literally the term "research" (re-search) means to "Search again".

Business research is defined as "The systematic and objective process of gathering, recording and analyzing data for aid in making business decisions".

"Scientific research is systematic, controlled, empirical, and critical investigation of hypothetical propositions about the presumed relations among phenomena".

The task of business research is to generate accurate information for use in decision making. Business research helps decision-makers to shift from intuitive information gathering to systematic and objective investigation.

Information from a manager's experience is frequently used in an intuitive manner because of time pressure on a business decision or because the problem in minor. Fortunately, there might be success, but in the long run intuition without research can lead to disappointment.

RESEARCH TITLE

The measurement of the satisfaction level of commerce student.

RESEARCH PROBLEM

Measurement of the satisfaction level of commerce students regarding the facilities offered by their institution and availability of institution regarding their future study in Multan.

After we have formulated the research problem, we will develop the research design. A research design is a master plan specifying the methods and procedures for collecting and analyzing the needed information. It is a framework of the research plan of action. The objectives of the study determined during the early stages of the research are included in the design to ensure that the information collected is appropriate for solving the problem.

TYPE OF STUDY

As exploratory studies are conducted to clarify ambiguous problems, thus our research project is of an exploratory one.

EXPLORATORY RESEARCH

Initial research conducted to clarify and define the nature of a problem.

BASIC RESEARCH DESIGN TECHNIQUES

As our research will be conducted by applying primary data. "Data gathered and assembled specifically for the research project at hand is called as primary data". And the most common, inexpensive and quick method of generating primary data is through surveys.

SURVEY RESEARCH

"Surveys require asking people, who are called respondents, for information, using either verbal or written questioning. Questionnaires or interviews are utilized to collect data through the mail, on the telephone, or face to face." The more formal term sample survey emphasizes that the purpose of contacting respondents is to obtain a representative sample of the target population. Thus a survey is defined as "a method of primary data collection based on communication with a representative sample of individuals."

And in our research we will use sample questionnaire for the data collection method, while meeting the respondents personally.

RESEARCH OBJECTIVE

On the basis of our problem statement we can categorize our research objective as follows:

i) To check the satisfaction level of the commerce students about the facilities currently offered by their institution.

ii) To see the availability of institution regarding their future study in Multan.

iii) To get the knowledge of reason behind the satisfaction of the student

iv) To get the knowledge about their future study plan and getting suggestion.

RESEARCH DESIGN

While developing the research we should decide about the source of data the basis on which we will be able to reach at some results. There are two sources of data

Ø Primary data

Ø Secondary data

Primary data is collected specifically for research needs while secondary data is already published data collected for purpose other than specific research needs at hand. This distinction defined for the purpose of which the data were collected.

Ø SECONDARY DATA

Since mentioned earlier, secondary data is already available data collected for some other purpose but has the same nature as on current research problem at hand. Due to which it has low cost and normally lesser time and efforts is spent to collect the secondary data. Hence for this research study we did not relay on secondary data. Because our topic of study is unique and the secondary data about this topic is hardly available.

Ø PRIMARY DATA

Hence in the absence of above source of information all reliance of our research was on primary data i.e data specifically collected together information regarding our research problem.

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