Business Research and Statistics - Qualitative and Quantitative Research

        Weekly Summary Report – 2 (Six-point summary)

Sumit Gour

Student id: 3606617

University of New Brunswick Saint John

7605 Business Research and Statistics

• Business research types

In this segment we know about two types of research methods.  Qualitative and Quantitative. Qualitative research provides us underlying reasons of a business problem and opinions that affect it. Quantitative research is used to quantify a problem by producing statistical data and analysing it to derive results.

Qualitative Research types:

1. Phenomenology—originating in philosophy and psychology

2. Ethnography—originating in anthropology

3. Grounded theory—originating in sociology

4. Case studies—originating in psychology and in business research

• How to define a Problem statement for Business research

Defining problem statement is very first step towards a business research topic. This is a Key factor in understanding why the research has to be conducted, only after this step a structure can be made to derive a solution for this specific problem. Some key steps to define a problem are as follows.

1. Understand the business situation—identify key symptoms

2. Identify key problem(s) from symptoms

3. Write managerial decision statement and corresponding research objectives

4. Determine the unit of analysis

5. Determine the relevant variables

6. Write research questions and/or research hypotheses

• Qualitative vs Quantitave

Qualitative research explains us how to understand the data and exploit it for a valuable resolution by Preforming various activities related to research topic to deliver best possible results. We need to clearly understand business processes and their impact on complete business model. Qualitative research has different tools for example depth interviews, surveys, focussed groups, observations, collages etc to collect useful data from different segment of people and their thoughts to use it as a feedback for improving our bussies. This will help to originate accurate tactical solution’s as direct interaction being involved to know the experience of the public.

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