Types of Business Research:
1. Descriptive Vs Analytical
2. Applied Vs Fundamental
3. Quantitative Vs Qualitative
4. Conceptual Vs Empirical
5. Special types of research
(Longitudinal Research; Action Research)
Based on the purposes for which the researches are conducted, they may be divided into following categories:
1. Baseline/Bench-mark survey/Research.
2. Evaluation Research:
a) Formative Evaluation (Mid-term)
b) Terminal Evaluation.
3. Impact assessment/research
4. Feasibility studies.
A baseline survey is a research in which data on pre-project socio-economic and business aspects are generated in order to facilitate the assessment of future impact of project intervention. A baseline survey is conducted in the absence of available published data on various socio-economic and business aspects.
a. Formative or mid term evaluation is done to assess whether the project is in the right track. It is usually done to identify the strengths, weaknesses, opportunities and threats. On the basis of the findings of the formative evaluation research corrective measures are taken to attain the goals of the project.
b. Terminal Evaluation research is conducted to assess the efficiency and effectiveness of the project/intervention.
o Effectiveness: is the ratio of actual and planned activities
- The extent of attainment of goal or the degree of target fulfillment determines the level of effectiveness.
- Attaining maximum output with minimum input.
The research, which is undertaken to measure the quantitative benefits derived out of project intervention and qualitative changes that occurred due to project intervention, is known as an impact assessment research. This type of research also provides information for identifying the negative impact of the project.
This type of research is undertaken prior to starting of any business enterprise or any business related project. This type of research is done to assess the technical, economic, market and financial viability of the project. The issue whether the project is socially desirable and environmentally acceptable is also taken into consideration.