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The DO‘s and DONT‘s Catalogue for Course Participants
listen attentively
be inquisitive, analytical and critical in your approach to learning research methodology
mention if you do not understand something and seek clarification
read the prescribed course literature. It is the basic requirement for comprehending research methodology and succeeding in this course
start reading from the beginning of the course and not towards the end!
be late to class. We start at 11:30 AM sharp!
distract the attention of other course participants
use mobile phones or send SMS messages in the class
feel afraid to bring up any relevant point for discussion
hesitate to visit me at my office, individually or as a group, if you have a course-related problem and seek counseling in this regard
Introducing Research
A systematized effort to gain new knowledge. L.V. Redman and A.V.H. Mory in their book on “The Romance of Research”
Research is a scientific and systematic search for pertinent information on a specific topic.
C.R. Kothari, Research Methodology - Methods and Techniques
A careful investigation or inquiry specially through search for new facts in any branch of knowledge.
Advanced learners Dictionary of current English
Business Research may be defined as the “systematic and objective process of gathering, recording and analyzing data for aid in making business decisions”
Zikmund, Business Research Methods, 2002, p. 6
Business Research
A process of determining, acquiring, analyzing, synthesizing, and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performance
Cooper and Schindler, Business Research Methods, 9th ed.
When Business Research Used?
Typically, business research methods are used in
situations of uncertainty, that is, when decision-makers
face two or more courses of action and seek to select
the best possible alternative under the circumstances.
Business Research is hence aimed at improving the
quality of decision-making which, in turn, benefits the
organization and helps ensure its continuity and
efficiency.
Who Does Research?
Businesses and Corporations (Manufacturing or Services)
Public-Sector Agencies/ Govt. Departments
Market Research or Consulting Firms
Research Institutes
Non-Governmental Organizations
Non-Profit Organizations
Independent Researchers and Consultants
Academicians
Suggestive areas for Business Research (1)
General Business Conditions and
Corporate Research
Short- & Long-Range Forecasting,
Business and Industry Trends
Global Environments
Inflation and Pricing
Plant and Warehouse Location
Acquisitions
Management and Organizational
Behaviour Research
Total Quality Management
Morale and Job Satisfaction
Leadership Style
Employee Productivity
Organizational Effectiveness
Structural ssues
Absenteeism and turnover
Organizational Climate
Suggestive areas for Business Research (2)
Financial and Accounting Research
Forecasts of financial interest rate trends,
capital formation alternatives
mergers and acquisitions
risk-return trade-offs
portfolio analysis
impact of taxes
research on financial institutions
expected rate of return
Sales and Marketing Research
Market Potentials
Market Share
Market segmentation
Market characteristics
Sales Analysis
Establishment of sales quotas
Distribution channels
New product concepts
Advertising research
Buyer behaviour
Customer satisfaction
Suggestive areas for Business Research (3)
Information Systems Research
Knowledge and information needs assessment
Computer information system use and evaluation
Technical suppot satisfaction
Database analysis
Data mining
Enterprise resource planning systems
Customer relationship management systems
Corporate Responsibility Research
Ecological Impact
Legal Constraints on advertising and promotion
Sex, age and racial discrimination/ worker equity
Social values and ethics
Why is Research Conducted?
To gain a competitive advantage.
To test new product and services.
To solve a management/organizational/business problem.
To forecast future sales.
To provide information which may help to avoid future business problem.
To better understand shifts in consumer attitudes and tastes.
To enhance profitability.
To reduce operational costs.
To enable management to priorities strategic options for the future.
Research Methods Vs. Research Methodology
A research method is a way of conducting and implementing research.
Research methodology is the science and philosophy behind all research.
When Should Business Research be Undertaken?
Is sufficient time
available?
Is information
inadequate?
High importance
of decision?
Research benefits
greater than costs?
Yes
Yes
Yes
Undertake Business Research
NO Do not
undertake Business Research
Types of Research
Quantitative Research
Basic Research
Applied Research
Longitudinal Research
Qualitative Research
Descriptive Research
Classification Research
Comparative Research
Explorative Research
Explanatory Research
Causal Research
Theory-testing Research
Theory-Building Research
Action Research
Quantitative Research It is based on methodological principals of positivism and neo-positivism
It adheres to standards of strict research design.
Statistical analysis is used in it.
Qualitative Research It is based on methodological principals of phenomenology, symbolic interactionism, hermeneutics.
It aims at exploration of social world.
following elements are there….exploration, relationship discovery, establishing construct, testing hypothesis.
Basic Research Purpose of gaining knowledge
It advanced understanding about social world
Help in supporting & rejecting existing hypothesis & theories
Applied Research Aims at solving specific problems
Aims at establishing policy programs that will help to improve social life
Types of applied research are action research, social impact studies, cost-benefit analysis, evaluation research
Longitudinal Research
It involves study of sample at more than one point in time or occasion
Cross sectional Research
It involves study of many cases at one point in time or occasion
Descriptive Research Usually it forms preliminary study of a research project.
It aims at describe social events, relations and events.
It provides background information about an event in question.
Exploratory Research It aims at gaining information about an issue in hand.
Classification research It aims at categorization of units into groups
To demonstrate differences
To explain relationships
Comparative Research To identify similarities and differences between units at all levels.
Explanatory Research It aims at explaining social relations and events.
To build, test or revise a theory.
Causal Research It aims at establishing cause and effect relationship among variables.
Theory Building Research To establish and formulate theory
Theory Testing Research It aims at testing validity of a theory
Action Research
It is application of fact findings to practical problem solving in a social situation with a view to improve quality of action within it, involving collaboration and cooperation of researchers, practitioners and laymen.
It can be situational (diagnose a problem and attempts to solve it), collaborative, participatory (researcher take part in implementation of findings) and self-evaluation (it involves constant evaluation and adjustment of research and practice)
Stages in the Research Process
Process stages:1. Defining the research objectives
2. Planning a research design
3. Planning a sample
4. Collecting the data
5. Analyzing the data
6. Formulating the conclusions and preparing the report
Forward linkage—earlier stages influence later stages.
Backward linkage—later stages influence earlier stages.
Flowchart of the Business Research Process
Note: Diamond-shaped boxes indicate stages in the research process in which a choice of one or more techniques must be made. The dotted line indicates an alternative path that skips exploratory research.
Defining the Research Objectives
Research objectives The goals to be achieved by conducting research.
Deliverables The consulting term used to describe research objectives to a research client.
Exploratory Research Techniques
Previous Research
Literature review
A directed search of published works, including periodicals and books, that discusses theory and presents empirical results that are relevant to the topic at hand.
Pilot Studies
A small-scale research project that collects data from respondents similar to those to be used in the full study.
Pretest
A small-scale study in which the results are only preliminary and intended only to assist in design of a subsequent study.
Focus Group
A small group discussion about some research topic led by a moderator who guides discussion among the participants.
Planning the Research Design
Research DesignA master plan that specifies the methods and procedures for collecting and analyzing the needed information.
Basic design techniques for descriptive and causal research: Surveys
Experiments
Secondary data
Observation
Selection of the Basic Research Method
SurveyA research technique in which a sample is interviewed in some form or the behavior of respondents is observed and described.
Telephone
Internet
In person
Sampling
Sampling Involves any procedure that draws conclusions based on measurements of a portion of the population.
Sampling decisions Who to sample?—target population
What size should the sample be?
How to select the sampling units? Random sample
Cluster-sample
Gathering Data
Unobtrusive Methods Methods in which research respondents do not have to be disturbed for data to be gathered.
Processing and Analyzing Data
Editing Involves checking the data collection forms for omissions, legibility, and consistency in classification.
Codes Rules for interpreting, categorizing, recording, and transferring the data to the data storage media.
Data analysis The application of reasoning to understand the data that have been gathered.
Drawing Conclusions and Preparing a Report
Steps in communicating the research findings: Interpreting the research results
Describing the implications
Drawing the appropriate conclusions for managerial decisions
Reporting requirements Conclusions fulfill the deliverables promised in the research proposal
Consider the varying abilities of people to understand the research results
A clearly-written, understandable summary of the research findings
Exploratory Research
Exploratory Research Conducted to clarify ambiguous situations or discover ideas that may be potential business opportunities.
Initial research conducted to clarify and define the nature of a problem. Does not provide conclusive evidence
Subsequent research expected
Descriptive Research
Describes characteristics of objects, people, groups, organizations, or environments. Addresses who, what, when, where, why, and how questions.
Considerable understanding of the nature of the problem exists.
Does not provide direct evidence of causality.
Diagnostic analysis Seeks to diagnose reasons for market outcomes and focuses specifically on the beliefs and feelings consumers have about and toward competing products.
Descriptive Research (cont’d)
Examples The average Weight Watchers’ customer
Is a female about 40 years old
Has a household income of about ` 1,00,000/-
Has at least some college education
Is trying to juggle children and a job
Characteristics of leaders
Empathetic
Resourceful
Ability to delegate
Causal Research
Research conducted to identify cause and effect relationships (inferences).
Evidence of causality: Temporal sequence—the appropriate causal order of events.
Concomitant variation—two phenomena vary together.
Non-spurious association—an absence of alternative plausible explanations.
Degrees of Causality
Absolute Causality The cause is necessary and sufficient to bring about the effect.
Conditional Causality A cause is necessary but not sufficient to bring about an effect.
Contributory Causality A cause need be neither necessary nor sufficient to bring about an effect.
Weakest form of causality.
Experiments
Experiment A carefully controlled study in which the researcher manipulates a proposed cause and observes any corresponding change in the proposed effect.
Experimental variable Represents the proposed cause and is controlled by the researcher by manipulating it.
Manipulation The researcher alters the level of the variable in specific increments.
Test-market An experiment that is conducted within actual market conditions.