BRT Summary of Webclips & Study material

Webclips of Business Research Techniques
1. Define business problems
2. Formulate problem statement
Deductive (Theory  Data) Inductive (Data  Theory)
3. Theoretical framework 3. Conceptual background
4. Research design
5. Collect data
6. Analyze data
7. Write up 7. Develop theory

1. Define business problems
Business problem occurs when there is a difference between desired state and actual state.
Desired state; the actual situation is not seriously wrong but can be improved
Actual state; the actual situation is seriously wrong and needs to be solved asap
A problem statement is good when it is:
- Feasibility
o Is problem demarcated?
o Can problem be expressed in variables?
o Can you gather required data?
- Relevance
o Managerial; who benefits from the problem solved?
 Managers (company/industry)
 End users (consumers/investors/tax payers)
 Public policy makers (government/EU)
o Academic; is problem not already been solved in prior research?
 New topic
 New context
 Integrate scattered research (different studies focused on different IV’s)
 Reconcile contradictory research (solve the contradictions)

2. Formulate problem statement
When is a problem statement good:
- Formulated in variables and relations
- Open-ended questions
- Stated clearly/unambiguously
- Managerial and academic relevant

When is a research question good:
- Should collectively address the problem statement
- First theoretical, then practical
o Theoretical RQ;
 Context question; What is …..
 Conceptualization question; What is ….
 Relationship questions; How does … affect …
o Practical RQ;
 Relationship question; To what extent does … affect …
 Implication question; How can practitioners implement your results?



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