Business Research Process
- James A. MuncyJames A. MuncyMarketing, Bradley University
- and Alice M. MuncyAlice M. MuncyAccounting, Baylor University
Business research is conducted by both businesspeople, who have informational needs, and scholars, whose field of study is business. Though some of the specifics as to how research is conducted differs between scholarly research and applied research, the general process they follow is the same. Business research is conducted in five stages. The first stage is problem formation where the objectives of the research are established. The second stage is research design. In this stage, the researcher identifies the variables of interest and possible relationships among those variables, decides on the appropriate data source and measurement approach, and plans the sampling methodology. It is also within the research design stage that the role that time will play in the study is determined. The third stage is data collection. Researchers must decide whether to outsource the data collection process or collect the data themselves. Also, data quality issues must be addressed in the collection of the data. The fourth stage is data analysis. The data must be prepared and cleaned. Statistical packages or programs such as SAS, SPSS, STATA, and R are used to analyze quantitative data. In the cases of qualitative data, coding, artificial intelligence, and/or interpretive analysis is employed. The fifth stage is the presentation of results. In applied business research, the results are typically limited in their distribution and they must be addressed to the immediate problem at hand. In scholarly business research, the results are intended to be widely distributed through journals, books, and conferences. As a means of quality control, scholarly research usually goes through a double-blind review process before it is published.