Understanding Primary and Secondary Research

About Primary and Secondary Research

Source: Hong Kong University    http://www4.caes.hku.hk/acadgrammar/report/resproc/methods.htm

	Primary Research	Secondary Research
Definition - What is it NSW HSC Online (2013)	“Primary research is the research you generate by asking questions, conducting trials and collating results. This research can take the form of quantitative or qualitative research” “Primary research is new research, carried out to answer specific issues or questions. It can involve questionnaires, surveys or interviews with individuals or small groups”.- Source- Learning Marketing	“Secondary research is based on the findings from other people's research. It involves the gathering of the results of other's research from books, reports or the Internet. Selections or summaries are made of the research allowing   for evidence to be gathered to support your conclusions”
Business Studies Len Nixon-UTS Handout 2013	-It involves seeking out information should what the business does, how it operates; success or failure, and strategies used to achieve its goals and objectives. -Interviews and questionaries can be used as the means of obtaining the information necessary to undertake the task.  -Note: Primary research is not just using documents produced by the business. Many other fields use the primary research to directly support their conclusions	It is the use of existing information. The library is the good place to obtain this information. Newspaper, internet sources, magazines and trade publications are useful to consult as a means of building an understanding or a profile of the business. Also, any document generated by your business can be used as secondary sources of information
Common Methods /Resources available	Social surveys:        Questionnaire surveys        Interviews: informal or structured Observation:        Participant (overt) or covert (masked identity) Primary data collection methods include observations, interviews and trials	Published statistics:        census, housing and social security data Published texts:        theoretical work, secondary analyses by          ‘experts’ and reports Media:        documentaries for example, as a source of        information Personal documents:        diaries
Advantages	Social Surveys Quick and cheap if the sample is small ·  Computer codable for quick analysis and repetition ·  Coding enables multiple comparisons among variables ·  Allows generalization to a larger population ·  Verifiable by replication and re-questioning of interviewees/respondents	Cheap and accessible - especially a University Library Often the only resource, for example historical documents Only way to examine large-scale trends  using internal data :      It is right there and readily available, probably from          one’s own PC.      It is very cost-effective, probably free.      The data is structured in a way that suits the         business in terms of matching one’s preferred      segments using external data:      It is a cost-effective way of understanding one’s        industry relative to commissioning one’s own      primary research.      It is written by industry experts and is more likely       to be objective.
Disadvantages	Social Surveys •          Using a large sample can be time-consuming •          Over-reliance on computed (statistical) analysis loses individual meanings and case study data •          Closed questions may constrain the data (pre-empting a richer range of response) •          Respondents may interpret the questions differently. This makes comparison of the answers difficult •          Researchers can bias the data by concept definition and question framing •          It is impossible to check if people are responding honestly •          Response rate may be low and selection non-random. This affects the validity of any inferred generalisations	Lack of consistency of perspective Biases and inaccuracies cannot be checked Published statistics often raise more questions than they answer The concern over whether any data can be totally separated from the context of its collection using internal data       it only shows trends among current customers, and         not get any industry information. using external data:      As it has been collected for other purposes it may      not be an exact match for requirements.      need to check the quality of the data. Some      researchers are better and more thorough than     others. Need to buy reports from a reputable       company.

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The construction of a differentiation matrix - For differentiating the curriculum to meet the learning needs of a diverse learner individual

HSC TOPIC: FINANCE

The construction of a differentiation matrix

Source: Adapted from Len Nixon – Business Studies Teaching Method 3- Autumn 2013 – UTS Handout - Week 2

HSC – Year 12 Business Studies		Finance 1-role of financial management* 2-influences on financial management*3- process of financial management*4- financial management strategies
Multiple Intelligences and  Bloom Taxonomy		Lower Order – 15 Marks		Middle Order – 25 Marks		Higher Order – 45 Marks
		Remember	Understanding	Apply	Analyse	Evaluate	Create
Written	Outcome	Being able to describe business functions and processes in large and global businesses		Understanding of the importance of comparative ratio analysis in achieving and maintaining a competitive advantage		An ability to evaluate the findings and compare the risks involved in domestic and global financial transactions
	Activity	Outline and define the financial objectives. Identify data from financial reports referred  to each objective		Outline and justify  the importance of financial ratios in running a large successful businesses		Synthesise aspects of business risks management and the impact on global financial management
	Product	A completed table of the summary of financial objectives		An essay 800 words		A report 1500 words
Visual Spatial	Outcome	To outline procedures of profitability management and its key points  connect to  achieving business’ financial objectives		To be able to explain the interdependence of financial management with the other key business functions and examine areas where conflict between stakeholders could occur.		To recognise, explain, and evaluates management strategies in response to changes in internal and external influences
	Activity	Describe and clarify Cash flow and Working capital management		Construct a diagram showing interrelationships of financial management with the other key business functions with narrative details and examples		Create a visual presentation which addresses issues and Government and relevant policies affect/influence a business’s ability to effectively manage its financial decision making
	Product	Implement an Exam-time software or an inspiration Mind-maps		E-mind-map/Exam-time or any other  medium of visual presentation		Visual presentation / Preizi / Blog / Website
Verbal	Outcome	Understanding of Financial risk, financial control, and debt and equity financing		To understand the influence of government and the global market on financial management in one large business		To be able to analyse the financial statements from the annual reports of large global businesses
	Activity	Identify and outline the advantages and disadvantages of debt finance		Investigate the role of ASIC and its  influences to businesses		Critically evaluate aspects of business using hypothetical situations in examining key financial ratios
	Product	3 minute speech		5 minute speech		9 minute speech

You may like to visit my Google site of Teaching and Learning Business Studies [Secondary Education]

Using Case Study as a powerful tool in learning and teaching Business Studies

Using Case Study as a powerful tool in learning and teaching Business Studies

Case Study – what is it? 

Teaching strategy of using Case Study is defined as a particular instance of something used or analysed in order to illustrate a thesis or principle (Oxford University Press, 2013).  This method refers to teaching a completed story which presents realistic, complex, and contextually rich situations and often involves a dilemma, conflict, or problem that one or more of the characters in the case must negotiate. 

Case Study – Why is it important in Business Studies learning and teaching? 

Advantages of the implementation of Case Study in Business Studies learning and teaching
Using Case Study is crucial in teaching Business Studies. It provides a stimulating and relevant framework for students to apply to problems encountered in the business environment. Students also investigate business planning and use a range of information to assess and evaluate business performance (Board of Studies NSW, 2010).

Carnegie Mellon University (2013) extracted an advice from Professor Paul Lawrence who states that Case Study is “the vehicle by which a chunk of reality is brought into the classroom to be worked over by the class and the instructor. A good case keeps the class discussion grounded upon some of the stubborn facts that must be faced in real life situations.”

Using of Case Study strategy is a formal activity which often runs throughout the lesson. It bridges the gap between theory and practice and between academic and real situations (Barkley et al., as cited in Carnegie Mellon University, 2013).

Case Study is an effective strategy in teaching Business Studies because it fosters problematic knowledge, deep understanding in intellectual quality required by the course set by the Board of Studies NSW. In addition, learning through Case Study fosters intellectual, social and moral development by assisting students to think critically about the role of business and its ethical responsibilities to society (Board of Studies NSW, 2010). Furthermore, teaching Case Study promotes students learning in investigating, synthesising and evaluating contemporary business issues and hypothetical and actual business situations. This provides communicational business, and pushes students to apply mathematical concepts appropriate to business situations in order to achieve the syllabus outcomes.

Case Study - Negative impacts on Business Studies learning and teaching 

As mentioned, Case Study is used as a powerful tool in teaching and learning Business Studies, however, from a different point of view, Stand Ford University(2013) cites Hamel (n.d.) who argued that a qualitative case study is limited as it depends on the sensitivity and integrity of the writer/researcher. The researcher is the primary instrument of data collection and analysis to produce the product [case study]. Both the learners of case studies and the writer/s, need to be aware of biases that can affect the final product because the issues of reliability, and validity are limited. It is also very difficult to draw a definite cause/effect from case studies. Further, the case study ‘has basically been criticised for its lack of representativeness and its lack of rigor in the collection, construction, and analysis of the empirical materials that give rise to this study (Hamel as cited in Stand Ford University, 2013).

Both positive and negative impacts, of the Case Study tool, on learning and teaching, in turns, are extremely important because they indicate actual features in the management of real businesses. This helps both students and teacher/s widen and reinforce business knowledge and critical thinking skills, in authentic and meaningful learning that contribute towards their learning and teaching achievements successfully.

Case Study – How is it implemented in teaching Business Studies?

Depending on the purpose of learning outcomes and teaching contexts, the teacher selects the appropriate case studies.

It is advised that the teacher should apply six steps to implement the teaching strategy of using Case Study (Carnegie Melon University, 2013):

Step 1: students are given the reasonable length of time to read and think about the case. At this stage, questions are raised such as ‘What is the nature of the problem the central character is facing? What are some possible courses of action? What are the potential obstacles?’ should be briefly answered.

Step 2: the teacher summarises and provides some guidelines for how to approach learning outcomes by clarifying how she/he wants students to think about the case, asking students to put themselves in the position as if the student were the presiding judge or a consultant hired by this company. Asking students what they would recommend. In general, the teacher breaks down the story into smaller components that she/he wants students to take in analysing the case. A series of questions should be prepared in advance to enhance this step. At this stage, Low, Middle and Higher order questions should be carefully designed for learning, such as ‘identify the constraints each character in the case’, ‘evaluate the decisions each character made and their implications’, ‘explain what you would have done differently and why’.

Step 3: Students learning through grouped-works of two to four for each group. The teacher monitors them to make sure everyone is involved. At this stage, the differentiated strategy should be applied. The teacher allows each group to work and concentrate on specific tasks. For example, group A works on answering for identifying ‘three potential courses of action and outline the pros and cons of each from a public relations standpoint’, group B might be charged with keeping the others on task and watching the time; group C’s role might be to question the assumptions or interpretations of the group and probe for deeper analysis; and so forth.

Step 4: Productive and active Learning- All groups present their solutions /reasoning. Learning solutions are shared, discussed and collected / stored for meaningful and further learning.

Step 5: Reinforced learning – the teacher allows students to ask questions for clarification and to move discussion to higher level. Carnegie Melon University(2013) indicates that ‘one of the challenges for a case-based discussion leader is to guide the discussion and probe for deeper analysis without over-directing’.

Step 6: Critical thinking and synthesizing issues adopted and raised. The teacher is to conduct and bring the various strands of the discussion back together at the end of the lesson to make sure all students have learned and understood the case study.

References: 

Board of Studies NSW (2010). Business Studies. Stage 6 Syllabus,pp4,5.

Carnegie Melon University(2013). Case Study. Retrieved 25 November 2013 from

http://www.cmu.edu/teaching/designteach/design/instructionalstrategies/casestudies.html

Oxford University Press(2013). Definition of case study in English. Retrieved 19 October 2013 from http://www.oxforddictionaries.com/definition/english/case-study 

Stand Ford University(2013). Tomorrow's Professor Msg.#1013 Strengths and Limitations of Case Studies. Retrieved 18 October 2013 from  http://cgi.stanford.edu/~dept-ctl/tomprof/posting.php?ID=1013