BBA RESEARCH METHODOLOGY 1
SCOPE OF BUSINESS RESEARCH
The scope of business research is limited by one’s definition of “business”. Certainly research in the production, finance, marketing, or management areas of a for-profit corporation is within the scope of business research. A broader definition of business, however, includes not-for-profit organizations, such as the American Heart Association, the Sac Diego Zoo, and the Boston Pops Orchestra, Each of these organizations exists to satisfy social needs, and they require business skills to produce and distribute the services that people want. Business research may be conducted by organizations that are not business organizations. The reserve bank of India, for example, performs many functions that are similar, if not identical, to those of business organizations. Reserve bank economists may use research techniques for evaluative purposes much the same way as managers at Reliance or Ford. The term business research is utilized because all its techniques are applicable to business settings.
Business research covers a wide range of phenomena. For managers the purpose of research is to fulfill their need for knowledge of the organization, the market, the economy, 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?” or “What is the reason for the company’s high turnover?” A marketing manager may ask, “How can I monitor my sales in retail trade activities?”