Evaluation Research and Problem Analysis (Research Paper Sample)

EVALUATION OF RESEARCH AND ANALYSIS
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Executive Summary
This report explores the stages and processes that are involved in market research in the field of business. The first section gives an overview and rationale of the report. The second section discusses the stages involved in the process of business research in a systematic manner. The next section evaluates the sources of data for business research detailing the advantages and disadvantages of both primary and secondary sources. The next section explores the issues that exist in consultancy projects or commercial research and their solutions. The next section winds up the whole report and offers a recommendation. The very last section is the list of bibliography consulted when compiling the report.
Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc435182644 \h 2Introduction PAGEREF _Toc435182645 \h 4Stages in Business Research Process PAGEREF _Toc435182646 \h 4Problem or Opportunity Identification PAGEREF _Toc435182647 \h 5Planning Research Design PAGEREF _Toc435182648 \h 5Selecting Sampling Procedure PAGEREF _Toc435182649 \h 6Data Collection and Field Work PAGEREF _Toc435182650 \h 7Data Evaluation/ Data Preparation PAGEREF _Toc435182651 \h 7Data Analysis PAGEREF _Toc435182652 \h 8Preparation and Presentation of Reports PAGEREF _Toc435182653 \h 8Sources of Data for Business Market Research PAGEREF _Toc435182654 \h 9Primary Sources of Data PAGEREF _Toc435182655 \h 9Secondary Sources of Data PAGEREF _Toc435182656 \h 10Issues in Commercial Research and their Solutions PAGEREF _Toc435182657 \h 11Conclusion PAGEREF _Toc435182658 \h 12Bibliography PAGEREF _Toc435182659 \h 13
Introduction
The contemporary business environment has evolved to be dynamic, volatile and competitive in nature (Sreejesh, Mohapatra & Anusree, 2013, p.13; Babin et al., 2012, p.7). Consequently, there is need to make informed decisions when addressing the major issues that competitive businesses do face. Research is an inquiry into something whose complete absence or presence may affect or influence the ability of a business to make sound decisions (Babin et al., 2012, p.7). Some of the joint decisions include strategic alignment of an organization through the use of different tactics as well as strategies (Babin et al., 2012, p.7). Business research is a multidimensional approach to business related issues and covers an extensive range of problems or subject areas (Bajpai, 2011, p.20). For example, some of the most common areas that apply business research include management decisions in firms, marketing decisions, and organizational development related issues (Sreejesh, Mohapatra & Anusree, 2013, p.13). Business research has a series of stages that are interrelated, designed and put together to complete the task or phenomenon in question (Bajpai, 2011, p.20). It is noteworthy that each of the steps in a business research despite existing alone is consistent with the rest and thus sequential nature of research (Bajpai, 2011, p.20). There are differences between commercial or business research and academic research. Additionally, as it is predictable, the process of research has different data collection methods as well as associated challenges and issues that might have potential solutions.
Stages in Business Research Process
The multistep business research process has different linked steps that researchers must be keen not to skip. All these stages systematically investigate an opportunity or a problem within an organization (Sreejesh, Mohapatra & Anusree, 2013, p.13). The process of business research is divided into three major phases: planning, execution, and report preparation and presentation (Sreejesh, Mohapatra & Anusree, 2013, p.13).
Problem or Opportunity Identification
The initial step that kick starts a research process entails the identification of the opportunity or problem within an organization or its external environment (Bajpai, 2011, p.22). In this case, the management has to outline the macro and micro environmental issues the company is facing. Problem identification stage comes before problem definition (Sreejesh, Mohapatra & Anusree, 2013, p.14). The researcher uses the available information to decipher the roots of all problems or the factors that create an opportunity (Babin et al., 2012, p.8). After auditing and identifying the problem, the researcher needs to define the problem or opportunity (Sreejesh, Mohapatra & Anusree, 2013, p.14). The researcher then bases his knowledge of the tenets of the problem and define the problem. Problem definition gives a sense of direction towards which the research should be conducted. Moreover, it also aids in the process of allotting resources and thus efficiency in research (Sreejesh, Mohapatra & Anusree, 2013, p.14).
Planning Research Design
The researcher has to choose the best research design based on the problems identified in the previous stage. There are three advanced research designs that the researcher might consider: exploratory design, descriptive research design, and casual research design. However, for most business research, exploratory research is considered over the other two (Sreejesh, Mohapatra & Anusree, 2013, p.14). Exploratory research has the key aim of understanding the topic in question. The research design helps the researchers to come up with a set of relevant questions that must be answered to solve the problem or unearth an opportunity (Sreejesh, Mohapatra & Anusree, 2013, p.15). Exploratory research is an informal process of identifying a problem through evaluation of existing studies and related topics, analysis of the status quo and consultations among others (Sreejesh, Mohapatra & Anusree, 2013, p.15). The common techniques applied in this type of design include pilot studies and secondary data analysis. Secondary data refers to the data collected in previous studies for related but not similar research purposes and can be obtained from magazines, periodicals, journals, articles and company records among others (Sreejesh, Mohapatra & Anusree, 2013, p.15). Analysis if secondary data forms a basis for further understanding the problem (Bajpai, 2011, p.26). Exploratory design involves the definition of significant variables and formulation of hypotheses (Bajpai, 2011, p.26).
Descriptive research, on the other hand, describes the situation. It may involve cross-sectional or longitudinal studies (Bajpai, 2011, p.35). Cross-sectional studies encompass data collection at one point in time while longitudinal studies refer to continuous data collection on the same population through time (Bajpai, 2011, p.35). Last but not least, the casual research design is applied in the identification of the cause and effects relationship between two variables (Bajpai, 2011, p.35).
Selecting Sampling Procedure
Sreejesh, Mohapatra & Anusree (2013, p.19) opine that a researcher has to organize the sampling process to be able to identify a population and subpopulation from which to collect data. The researcher describes the attributes of the sample to be selected for the next stage. The researcher also selects the appropriate sample size based on the information required. Here, both non-probability and probability sampling methods are applied (Sreejesh, Mohapatra & Anusree, 2013, p.20). In the former all the subsets are given a chance for selection based on some elements. On the other hand, the latter the subsets are selected without an attempt to ensure representativeness (Sreejesh, Mohapatra & Anusree, 2013, p.20)
Data Collection and Field Work
As a next step, the researcher conducts a plan on how the fieldwork and data collection would materialize. In addition to the planning, secondary data sources are also executed so as to integrate ideas into the process (Sreejesh, Mohapatra & Anusree, 2013, p.20). Having prepared the sample, the researcher collects data from the sampling units. There are several methods of data collection including survey, questionnaires, interviews, and observation among others, each with its weaknesses and strengths (Sreejesh, Mohapatra & Anusree, 2013, p.20). There are two distinct stages in data collection: pretesting and main study. The former involves data collection from a subsample to test whether the proposed data collection plan for the main study is applicable. It helps in managing the potential errors during the main study (Sreejesh, Mohapatra & Anusree, 2013, p.20). In case there is misalignment between the data collected and the research objectives, the research design is altered (Sreejesh, Mohapatra & Anusree, 2013, p.20).
Data Evaluation/ Data Preparation
The data evaluation process the raw data is converted into an acceptable format such that it is structured in nature (Sreejesh, Mohapatra & Anusree, 2013, p.20). In this step all the missing data and other problems associated with data are solved and that effective decisions are made from the results (Bajpai, 2011, p.36). Moreover, this step also helps in validating the authenticity and reliability of the results or findings of the study (Bajpai, 2011, p.36). There are many statistical as well as mathematical models available for the evaluation of data (Sreejesh, Mohapatra & Anusree, 2013, p.20). In a nutshell, the evaluation process involves editing to weed potential errors and coding for easier interpretation of data (Sreejesh, Mohapatra & Anusree, 2013, p.20). Thanks to technology the process of evaluation is automated thus little chances of error (Sreejesh, Mohapatra & Anusree, 2013, p.21).
Data Analysis
According to Bajpai (2011, p.36), data analysis refers to the process of interpretation of the collected data through a combination of statistical methods to...