Answered By: Steven Profit
Last Updated: Apr 12, 2016     Views: 32

Here are definitions for each from the Oxford Dictionary of Business Research Methods:

Inductive reasoning
1. The approach to 
research by which theory and hypotheses are developed from observation and measurement.
2. In which specific information is generalized in the knowledge that the conclusion(s) drawn may not be certain.

Deductive reasoning
The cognitive process by which one or more propositions are made from which a circumscribed conclusion necessarily follows. Consider these propositions:

  1. 1) All privately-owned businesses are profit-maximizers.

  2. 2) The Wet Fish Company is a private business.

  3. 3) The Wet Fish Company is a profit-maximizer.

If propositions 1) and 2) are factually correct, then the logical conclusion is that proposition 3) is necessarily true.