Business research methods
The first question a manager who accepts the conclusion of an external research institute is, “How did this conclusion come about?” See how Korea Research Institute of Business & Branding listens to corporate issues, gathers evidence, and presents alternatives.
Korea Research Institute of Business & Branding works in the style of a practical researcher, carefully listening to a company's situation, reviewing the evidence, and organizing a direction for implementation. Through field investigation, data analysis, and case studies, we identify the cause of the problem and suggest viable alternatives.
Analysis is conducted within the relationship between customer, market, organization, finance, and operation, and alternatives are presented divided into conditions, costs, expected effects, risks, and execution order. The seven core values of field relevance, practicality, objectivity, independence, responsibility, learnability, and sustainability serve as the criteria for judgment.
In what order does Korea Research Institute of Business & Branding analyze corporate problems?
Research begins with listening to the company's story. The problem felt by management and the problem experienced by practitioners are often the same phenomenon seen in different places, so the outline of the problem can be established only by listening to both sides. Next, we gather evidence to narrow down the cause, establish alternatives, and even look at changes after implementation. Depending on the task, you may go back and forth between the four streams several times.
- listenWe listen to the issues that management will decide and what practitioners will do.
- Gather evidenceWe confirm the cause through field investigation, data, and examples.
- Establish an alternativeWrite down the conditions, costs, expected effects, risks, and execution order for each alternative.
- Look after executionChanges after implementation are checked and reflected in the next decision.
Why do we use field research, data analysis, and case studies together as management research methods?
The three methods fill each other's gaps. Data shows scale and trends but doesn't tell us why, field research tells us why but doesn't tell us how widespread the phenomenon is. Case studies provide a deeper understanding of complex processes. The argument that case studies can be used to build theories (Eisenhardt, 1989) and the paper that addresses common misunderstandings about case studies (Flyvbjerg, 2006) also believe that the depth gained from cases has power when used in conjunction with generalization.
| method | good show | Complementing it in other ways |
|---|---|---|
| field investigation | What members and customers actually experience and the reasons for the problem | Data confirms how widespread the phenomenon is |
| data analysis | Relationships between scale, trends, and areas | The reason the numbers move can be confirmed through on-site investigation. |
| case study | The entire process from decision to implementation | We will check by comparing conditions whether it works for other companies as well. |
Why do we look at customers, markets, organization, finance, and operations together?
To understand a company's performance, you must look at the market, customers, business model, organization, human resources, funds, and operating system. This is because what appears to be a problem in one area often has its cause in another area. For example, the cause of the increase in customer complaints may not be the attitude of the service representative, but rather the staffing and work process. institute follows the relationships between areas to find where the cause actually lies.
In what format are alternatives to management research presented?
Korea Research Institute of Business & Branding specifically analyzes the conditions a company faces and reviews the costs and expected effects of selectable alternatives, as well as the capabilities required for implementation. Alternatives are written in the same framework of conditions, costs, expected effects, risks, and execution order. It must be written in the same framework so that alternatives can be compared and management can explain the reasons for the choice to members. Speech also follows this template. institute's method is to clearly state key issues, judgment grounds, and implementation tasks.
What do you explain when referring to other company cases?
When using examples from other companies, differences in industry, size, timing, and market environment are also explained. The error of judgment, in which one or two striking examples are considered representative of the whole, is a long-established phenomenon in psychological research (Tversky, Kahneman, 1974). If you only collect successful examples, it is easy to obscure the fact that failed companies made the same choices. institute takes the principle from the case, but separately checks whether the principle holds true under our company's conditions.
What are the seven core values that guide your judgment?
| core values | meaning | Position revealed in research |
|---|---|---|
| On-site | Define problems based on actual company experience and data | Listen to stories from the field before defining the problem |
| practicality | Connect research results to specific decisions and implementation tasks | Deliverables end with action tasks and performance indicators |
| objectivity | Distinguish between assumptions and facts and explain the basis and limitations of the analysis. | Include the premise in the estimated figure. |
| independence | Presents conclusions from research and consultation based on professional judgment | Conclusions that differ from the expectations of the requesting company are also revealed along with the evidence. |
| Accountability | Consider the impact of your proposals on customers, members, and partners | We look at the impact of each alternative on people and business relationships. |
| learnability | Execution results are checked and reflected in research and education. | After implementation, the inspection results go to the next research and education. |
| sustainability | We examine short-term performance and long-term competitiveness and trust together. | Write down the long-term costs of short-term alternatives together |
What will companies be able to do after the research is completed?
Korea Research Institute of Business & Branding's relationship with customers is to become a partner that enhances the ability of companies to make and execute decisions on their own. If you leave a framework for the basis of judgment and comparison of alternatives within the company, the next time a similar problem arises, members can first review it using the same framework. The attitude is also in the same direction. institute takes a realistic and analytical approach, but respects the constraints and experiences of the corporate field.
Business research methods Frequently asked questions
How do you know if management research is trustworthy?
Check whether the basis for each conclusion is provided, whether confirmed facts and assumptions are distinguished, and whether limitations are explained. Korea Research Institute of Business & Branding places these three as its core values: objectivity.
Is it possible to draw conclusions based solely on case studies?
Cases are used to gain a deeper understanding of the process, and comparison of data and conditions is used to check whether the conclusion holds under different conditions. This is why the three methods are used together.
Aren’t decisions more difficult when there are multiple alternatives?
If you write down the alternatives side by side in the same frame, the differences become clearer and the decision becomes easier. institute also discloses the recommended direction along with the evidence based on its judgment.
Who participates in fieldwork?
Depending on the task, we listen to executives, managers, practitioners and, when necessary, customers and partners. institute's method is to connect the issues to be decided by management and the work to be done by practitioners.
Do research methods vary from assignment to assignment?
The importance of the three methods will vary depending on the task. However, the principle of revealing the basis and comparing alternatives using the same framework applies to all tasks.
Pages within Research Methods
- Research independence and confidentialityResearch Independence · Confidentiality · Management of Interests
- Introduction to Korea Research Institute of Business & BrandingKorea Research Institute of Business & Branding · Management research institute
- Korea Research Institute of Business & Branding HistoryHistory/Management Research
Research methods and principlesof Business Insights Post
- How should a company learn from success stories?Success stories can hide failed firms and differences in context. Compare the evidence, industry, size, timing and conditions before transferring a business practice.
- How should we compare our financial ratios with industry averages?Compare financial ratios with similar industries and company sizes over several years. Use the Bank of Korea’s 2024 analysis to choose peers and investigate signals that individual ratios can obscure.
- How can confidential business information be protected?Before sharing company information, distinguish trade secrets from general confidential data and agree the purpose, access, retention and return conditions.
- How can management meetings reduce errors in important decisions?Group discussions can favor shared information and majority preferences. Use research on dissent and premortems to collect independent views, challenge assumptions and identify paths to failure.
- How many customers should we survey for reliable results?About 400 random responses give a ±5-point margin and 1,000 give ±3 points. Check who is missing and how questions are worded, alongside sample size, to assess customer survey reliability.
- Does management consulting improve business performance?Randomised studies show that management consulting can improve performance, with results depending on the intervention, company and follow-through. Read the evidence.
Primary sources
- academic paper Eisenhardt, K. M. (1989). Building Theories from Case Study Research. Academy of Management Review, 14(4), 532-550
- academic paper Flyvbjerg, B. (2006). Five Misunderstandings About Case-Study Research. Qualitative Inquiry, 12(2), 219-245
- academic paper Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science, 185(4157), 1124-1131