Introduction It is not an easy task for many students to develop powerful and informative business research. Bryman and Bell (2011) admit that “business research does not exist in a vacuum” (p. 4). It has to be shaped by a variety of traditions and rules that cannot be neglected; that is why it is necessary to consider the philosophical ideas and define their level of impact on business research. The methodology is an important part of any research because it helps to develop a plan of activities that should be taken during research. Methodology usually gives the answers to such questions like what or why is chosen, where and when something happens, and how it is better to gather information (Scotland 2012). In case the choice of methodology is neglected, the results of research can frustrate or lead to some unpredictable and harmful results. The current paper summarises the philosophical underpinnings of methodology and evaluates the main business research methods that can be chosen in regards to the interrelations that exist between ontology, epistemology, and approaches. A researcher should define the connection between each detail of the work and make the right choice to be sure in the results that are expected at the end of the whole project. Epistemology The peculiar feature of any business research is its ability to influence the chosen sphere of business and become a pragmatic detail that has to be considered by all developers of their agendas (Bryman & Bell 2011). The relations of the offered paradigm are close indeed, and such issue like epistemology has to be defined. Epistemology is the study based on the nature and the form of knowledge available. This stage requires the understanding of the way of how knowledge can be created and developed in research. Researchers should realise what they have to know and why they need the offered portion of knowledge. Epistemology has two types of doctrines: positivism and interpretivism. If a researcher should be general and abstract in the work, the position of positivism in relation to epistemology should be chosen. If research has to be concrete and specific, it is the case of interpretivism. In general, positivism aims at proving or disproving a hypothesis by means of observing an objective reality and using some common attitude or explanation (Mack 2010), and interpretivism is a kind of its opposition, when any kind of knowledge is based on the experienced got personally and inductively. Ontology In terms of business research, ontology is connected to the nature of social entities and the intention to study the essence of being. Researchers have to define what has to be investigated and how it is possible to perceive reality and all things that have to work in the chosen reality. As well as epistemology, ontology has two positions that become a kind of opposition to each other: objectivism and constructionism. Objectivism is the position when a number of external facts are available to people objectively but remain to be beyond reach or impact at the same time (Bryman & Bell 2011). A powerful alternative to this position is constructionism. This study helps to confront the already known facts and social factors and interpret information in the way that is more co