20121014 - session 2
TRANSCRIPT
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Research Methodology
14 October 2012
TriM II, PGDM RM 2012-14,
Welingkar Institute of Management
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Recapping yesterday
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How committed are you
to this RM course?
How will you prove it?
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Indicators of commitment to the course
Attending all lectures
Completing all assignments on time
Reading up more about the course from other books
Be updated about this field by reading journals andnewsletters
Helping others understand the subject better
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How committed are you
to taking care of your parents?
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How committed are you
to finding true love?
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How committed are you
to living a healthy, happy, successful life?
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Can numbers make us feel happy / optimistic?
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Coke 2010 and 2011
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The course contents
1. Relevance & Scope of Research in Management
2. Steps Involved in the Research Process
3. Identification of Research Problem
4. Research Design
5. Data Collection Methodology
1. Primary Data Collection Methods / Measurement Techniques Characteristics of Measurement Techniques Reliability, Validity etc.
2. Secondary Data Collection Methods Library Research, References Bibliography, Abstracts, etc.
6. Analysis Techniques Qualitative & Quantitative Analysis Techniques
Techniques of Testing Hypothesis Chi-square, T-test, Correlation &Regression Analysis, Analysis of Variance, etc. Making Choice of anAppropriate Analysis Technique
7. Research Report Writing
8. Computer Aided Research Methodology
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The course contents
1. Relevance & Scope of Research in Management
2. Steps Involved in the Research Process
3. Identification of Research Problem
4. Research Design
5. Data Collection Methodology
1. Primary Data Collection Methods / Measurement Techniques Characteristics of Measurement Techniques Reliability, Validity etc.
2. Secondary Data Collection Methods Library Research, References Bibliography, Abstracts, etc.
6. Analysis Techniques Qualitative & Quantitative Analysis Techniques
Techniques of Testing Hypothesis Chi-square, T-test, Correlation &Regression Analysis, Analysis of Variance, etc. Making Choice of anAppropriate Analysis Technique
7. Research Report Writing
8. Computer Aided Research Methodology
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Overview of Research Process
Evolves From Answers to Five Key Questions:
Why should we do research?
What research should be done?
Is it worth doing the research? How should the research be designed to achieve the
research objectives?
What will we do with the research?
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Research Process
Information system
Databases
DSS
Planning system
Strategic plans
Tactical plans
PLANNING AND INFORMATION SYSTEM
1. AGREE ON RESEARCH PROCESS
Problems or opportunities Decision alternatives
Research users
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Research Process
2. ESTABLISH RESEARCH OBJECTIVES
Research questions
Hypotheses
Boundaries of study
Estimate thevalue of
informationIs benefit > cost?
Do not conduct
marketing researchNO
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Research Process
4. DESIGN THE RESEARCH
Choose among alternative research approaches
Specify the sampling plan
Design the experiment
Design the questionnaire
YES
5. COLLECT THE DATA
7. REPORT THE RESEARCH RESULTS AND PROVIDE STRATEGIC
RECOMMENDATIONS
6. PREPARE AND ANALYZE THE DATA
Is benefit > cost
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The Research ProcessStep 1- Research Purpose
Problem or opportunity analysis
Which problems or opportunities are anticipated?
What is the scope of the problems and the possiblereasons?
Evaluation of decision alternatives What are the alternatives being studied?
What are the criteria for choosing among the alternatives?
What is the timing or importance of the decision?
Research users
Who are the decision makers?
Are there any covert purposes?
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Problem or Opportunity Analysis
What Do Todays Buyers Want?
Todays Buyers are:
Skeptical
Cautious Tired of selling and sales pressure
Busy
Confused
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The Research ProcessStep 2 - Research Objective
A statement of what information is needed
Research objective should be framed to ensureinformation obtained will satisfy research purpose
Components of research objectives:
Research Question
Hypothesis Development
Research Boundaries
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Research Question
Asks what specific information is required to achieve theresearch purpose
Sample questions to determine if a specific advertisement should be run:
Will the advertisement be noticed?
Will it be interpreted accurately?
Will it influence attitudes?
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Hypothesis Development
A hypothesis is a possible answer to a research question.
Generating a hypothesis
Draw on previous research efforts
Borrow from other disciplines such as:
Psychology Sociology
Marketing
Economics
Managers experience with related problems, coupledwith knowledge and the use of judgment
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Hypothesis Development
Research
Objective
Theory
Management experience
Exploratory research
Research
QuestionHypothesis
Research
PurposeResearch
Design
Source
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The Research ProcessStep 3 - Estimating the Value of Information
Value depends on:
Importance of decision
Uncertainty that surrounds it Influence of research information on the decision
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Illustrative Decision Models
Case B
Case A
$ 4 million
$ 1 million
$ 4 million
-$ 2.5 million
Success
Success
Failure
Failure
Introduce
Introduce
Do not introduce
Do not introduce
$0
$0
$ 4 million
$ 1 million
$ 4 million
-$ 2.5 million
Success
Success
Failure
Failure
Introduce
Introduce
Do not introduce
Do not introduce
$0
$0
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Next Step: Research Design
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Thank you
Nirav Parekh
+91 98199 69372