100
Presented by Abhijeet Birari UNIT I NATURE AND SCOPE OF RM
| Date post: | 16-Feb-2017 |
| Category: |
Education |
| Upload: | abhijeet-birari |
| View: | 282 times |
| Download: | 18 times |
Presented by Abhijeet Birari
UNIT INATURE AND SCOPE OF RM
LEARNING OUTCOME
Students should be able to apply tools and techniques of research for the purpose of management decision
making.
TODDLER
1-4
5-8
9-10
+1 & +2
G
PG
5%
10%
30%
50%
70%
80%
95%
STUDENT’S CONTRIBUTION
TEACHER’S CONTRIBUTION
95%
90%
70%
50%
30%
20%
5%
STUDENT VS TEACHER’S CONTRIBUTION IN LEARNING
UNIT 1Introduction to research Definition Research from view point of
Individual
Company
SocietyTypes of research Basic
Applied
Process of researchApplication of research Marketing
HR
Finance
POM
Features of good research
Summary
WHAT IS RESEARCH?
RESEARCH
SCIENTIFIC AND SYSTEMATIC INVESTIGATION OF TRUTH
RESEARCH - OTHER DEFINITIONS
“A careful investigation or enquiry, specially through search for new facts in any branch of knowledge.” – Advanced Learner’s Dictionary
“Systematized effort to gain new knowledge.” – Redman and Mory
“Scientific research is a systematic, controlled and critical investigation of propositions about various phenomena.” – Grinell (1993)
FROM INDIVIDUAL’S VIEW POINT
ANSWER THE QUESTION
Which movie should I go for?
ANSWER THE QUESTION
Which bike should I buy?
ANSWER THE QUESTION
In which institute should I do MBA?
ANSWER THE QUESTION
How effective is Yoga for my health?
ANSWER THE QUESTION
Is there any difference between IQ of girls and boys?
FROM COMPANY’S VIEW POINT
ANSWER THE QUESTION
Is the new advertisement of the product effective?
ANSWER THE QUESTION
Should my company launch a new product?
ANSWER THE QUESTION
How many sales persons should we recruit?
ANSWER THE QUESTION
Are customers satisfied with the services of our company?
ANSWER THE QUESTION
Has promotion made a positive impact on performance of company?
FROM SOCIETY’S VIEW POINT
ANSWER THE QUESTION
Has setting up a traffic signal reduced the traffic jam/accidents?
ANSWER THE QUESTION
Has Jan Dhan Yojna been able to achieve it’s objective?
ANSWER THE QUESTION
What policies should be made to reduce farmer’s suicides?
ANSWER THE QUESTION
Has industrialization resulted into increased pollution? Reasons and remedies?
ANSWER THE QUESTION
Which is the most influencing factor for poverty in India?
WHAT IS COMMON IN ALL THE QUESTIONS?
…. APART FROM RESEARCH
PROBLEM AND CURIOSITY IS THE ROOT CAUSE OF RESEARCH
NECESSITY IS THE MOTHER OF
ALL
INVENTIONS
TYPES OF RESEARCH
BASIC RESEARCH
APPLIED RESEARCH
• What is causing increased poverty?• How can cyber security be improved? • Is technology use for children helpful or
harmful?• What changes are necessary to create jobs?• How can obesity be prevented?• In what ways can depression be managed
without medication?• Is multi-tasking helpful or hurtful?
• Is earth flat?• Does each person have unique finger
print?• How many planets are there in our
galaxy?• Why did apple fell?• Why/how does it rain?• Which is more relevant? IQ or EQ?
TOP 10 COMPANIES BY R & D SPENDING
MERCK
$7.5 BILLION(17% OF REVENUE)
10
$8 BILLION(13.2% OF REVENUE)
9
JOHNSON & JOHNSON
$8.2 BILLION(11.5% OF REVENUE)
8
TOYOTA
$9.1 BILLION(3.5% OF REVENUE)
7
NOVARTIS
$9.9 BILLION(16.8% OF REVENUE)
6
ROCHE
$10 BILLION(19% OF REVENUE)
5
MICROSOFT
$10.4 BILLION(13.4% OF REVENUE)
4
INTEL
$10.6 BILLION(20.1% OF REVENUE)
3
SAMSUNG
$13.4 BILLION(6.4% OF REVENUE)
2
VOLKSWAGEN
$13.5 BILLION(5.2% OF REVENUE)
1
TOP 10 COUNTRIES BY R & D SPENDING
CANADA
$24.3 BILLION(1.8% OF GDP)
10
RUSSIA
$32.8 BILLION(1% OF GDP)
9
INDIA
$36.1 BILLION(0.9% OF GDP)
8
UK
$38.4 BILLION(1.7% OF GDP)
7
FRANCE
$42.2 BILLION(1.9% OF GDP)
6
SOUTH KOREA
$65.4 BILLION(4.36% OF GDP)
5
GERMANY
$69.5 BILLION(2.3% OF GDP)
4
JAPAN
$160 BILLION(2.3% OF GDP)
3
CHINA
$337.5 BILLION(2.08% OF GDP)
2
US
$405.3 BILLION(2.7% OF GDP)
1
THE PROCESS OF RESEARCH(Business Research)
DEFINING RESEARCH PROBLEM• It’s a gap in the knowledge• Gives direction for doing research
1
DECISION PROBLEM RESEARCH PROBLEMWhat should be done to increase the customer base
of organic products in domestic market?What is the awareness and purchase intention of health conscious consumers for organic products?
How to reduce turnover rates in the BPO sector? What is the impact of shift duties on work exhaustion and TO intention of workers?
How to increase the delivery process of Widex hearing aids in India? How does Widex manage its supply chain in India?
Should the company continue with existing security service vendor? ????????????????????
Whom should ICICI choose its next MD – Mr. ABC or Mrs. XYZ? ????????????????????
LITERATURE REVIEW• Review past research
EXAMPLE:
“Tregear, Dent and McGregor (1994) conducted a research to investigate demand for organic foods. A nationwide survey in UK revealed that customers are most willing to purchase organic product if the price difference was low.”
2
FORMULATING RESEARCH HYPOTHESIS• Presumption of expected results• On the basis of previous research
EXAMPLE:
“Organic farming will result into reduction of pollution of soil and water.”
3
FORMULATION OF RESEARCH DESIGN• Research Problem deals with What of study…• Research Design deals with How of study…
4
Plan
Strategy
Structure
Of investigation to attain answers to research problem
FORMULATION OF RESEARCH DESIGN
Research Design involves Following:
1. Means of obtaining information2. Availability and skills of researcher3. Justification of above4. Time required5. Cost involved
4
SAMPLING DESIGN• Population and sample• Probability and non-probability sampling design• Logic behind design needs to be accurate and measurable
EXAMPLE:
1. Study of investigating kind of hearing disorders prevalent in India2. The acceptability of some price points of a digital hearing aid
5
PLANNING AND COLLECTION OF DATA• Planning about ways of obtaining information• Primary and secondary ways of data collection• Primary:
– Questionnaires– Scheduling– Interviews– E-mail– Observation etc.
• Secondary:– Web– Magazines– Newspaper– Books etc.
6
DATA REFINING AND PREPARATION• Refined to facilitate statistical testing• Required for evaluating information• Answers research question and test hypothesis
7
DATA ANALYSIS AND INTERPRETATION• Selection of analytical tools
8
Univariate One variable involvedEx. Average runs scored by batsman
Bivariate Two variable involvedEx. Hours of study and marks
Multivariate More than two variable involvedEx. Effect of fertilizer and seed on productivity
DECISION MAKING• Management decision making
EXAMPLE:Finding: Consumers are ready to use organic products if price gap is lessDecision making: Production and selling of organic products in select areas.
9
Define research problem
Literature Review
Formulate hypothesis
Research Design
Sampling Design
Planning & Collection of Data
Data Refining and preparation
Data Analysis and interpretation
Decision Making
PROCESS OF RESEARCH
APPLICATION OF RESEARCH
IN MARKETING4Ps
PRODUCT• Which new product should be launched?• How, when and where should we test the product?• How can we differentiate/position our products from competitors?• How should be the packaging?
1
IN MARKETING4Ps
PRICE• What should be the price of our product?• What should be the pricing strategy of the product?• What are competitor’s prices and pricing strategies?• How much value for customers is created at a certain price level?
1
IN MARKETING4Ps
PROMOTION• Which medium of communication should we use to promote the product?• How much money should be allocated for promotion?• What would be impact of promotion through different medias?
1
IN MARKETING4Ps
PLACE• Which location?• What should be geographical scope/limitation of product selling?• What kind of distribution channel should be required?
1
IN MARKETINGOTHER• How many customers are satisfied with our products/services?• How many loyal consumers does our company have?• How can Customer Relationship Management (CRM) can be strengthened to gain
competitive edge?
1
IN HRMPERFORMANCE MANAGEMENT
• How effective is current leadership in the Organisation?• How much does culture and work environment affect productivity of employees?• Did the recent change in system made an impact on performance?
2
IN HRMORGANISATIONAL PLANNING AND DEVELOPMENT
• How much manpower is required in future?• What tools and techniques should be used to develop existing manpower?
2
IN HRMINCENTIVE AND BENEFIT STUDIES
• What should be ideal performance appraisal system?• What kind of recognition and reward should be provided?• Analysis and effectiveness of current employee benefit and reward system?
2
IN HRMTRAINING AND DEVELOPMENT
• What is the effectiveness of training on job performance?• What are the current training needs and gaps in the system?• What kind of training and development models should be implemented?
2
IN HRMOTHER
• How can frequent absenteeism and accidents in organisation be avoided?• What is the reason and remedy of employee turnover and attrition?• How can employer branding be done to attract desired employees?
2
IN FINANCEASSET PRICING
• What would be response of stock market to upcoming IPO, M & A?• What should be valuation of company to be acquired?
3
IN FINANCEFINANCIAL ECONOMETRIC
• Financial Modelling and forecasting• Risk estimation and analysis
3
IN FINANCEOTHER
• Behavioral Finance– How does person’s behavior influence its purchasing decisions?
3
BEHAVIORAL ECONOMICS/FINANCE
• Apple’s India revenue Rs 2,000 crore.
• 620 crore in last year.
• Increase of almost 200%
IN POMOPERATION PLANNING
• How and where can the resources be deployed for its maximum utilization?• What product/service design would be accepted by market?
4
IN POMDEMAND FORECASTING & DECISION ANALYSIS
• What would be probable demand for product/services?
4
IN POMPROCESS PLANNING
• What is the optimum level of raw material required?
4
IN POMOTHER
• What/how should be supply chain and distribution channel so that product should reach in time and at place?
• How can JIT and Kaizen be implemented in organization?
4
FEATURES OF GOOD RESEARCH
FEATURES1. Clearly stated purpose
2. Must follow systematic & detailed plan
3. Research design must be justified
4. Findings must be unbiased, objective and neutral
CHECK YOUR UNDERSTANDING
QUESTION
What is research?
QUESTION
Research done for solving practical problems is called ______ ???
QUESTION
Presumption of results of the study is called ___________ ???
QUESTION
What is sample ???
QUESTION
What is research problem ???
QUESTION
____________ is used to analyze more than 2 variables.
QUESTION
Which one of the following are primary data collection techniques?
1. Survey2. E-books3. Questionnaire4. Scheduling5. Journal6. Newspaper7. Interview
QUESTION
How survey is different from research ???
SUMMARY
SUMMARY• Systematic and scientific investigation of truth is research• Research arises out of problem or curiosity• Basic research is aimed at expanding knowledge• Applied search is aimed at resolving some immediate problem• Primary data is collected first hand, secondary is second hand data• Univariate analyzed one, bivariate analyzed two and multivariate analyzes more
than 2 variables• Research has application in varied areas like Finance, Marketing, HRM, POM etc.• Research must be precise, well planned, unbiased, objective and neutral.
Define research problem
Literature Review
Formulate hypothesis
Research Design
Sampling Design
Planning & Collection of Data
Data Refining and preparation
Data Analysis and interpretation
Decision Making
PROCESS OF RESEARCH
THANK YOU
