research methods module 1

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RM – 14MBA23 Notes M1

Business Research – Meaning, types, process ofresearch- management problem, defining theresearch problem, formulating the researchHypothesis, developing the research proposals,research design formulation, sampling design,planning and collecting the data for research, dataanalysis and interpretation. Research Applicationin business decisions, Features of good researchstudy.

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RM – 14MBA23 Notes

“Business Research is identifying „Business Related

Problems‟ and steps to solve, or minimize the problem”.

Business Research is said as searching, gathering

information and establishing objectives to reach or achieve

the specific pre determined goal in business.

Business Research is used to solve business related problems

arising from time to time, which requires adequate planning,

discussion/ meetings with related heads to conclude on

steps, policies to be adopted to reach or achieve the specific

objectives.

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Business Research can be also defined, as thesystematic and objective process of gathering,recording and analysing data for aid in makingdecisions.

Business Research can also be defined, as asystematic inquiry that provides information toguide business decisions.

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Objectives of research:1. To gain familiarity with a phenomena or to achievenew insights,

2. To promote better decision makings,

3. To identify problem areas and form basis forinnovations,

4. To test causal relationships between variables,

5. To aid for forecasting, planning and decisionmaking in an organizations,

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Objectives of research:6. To develop new tools, concepts andtheories for studing unknown phenomena,

7. To determine the association orindependence of an activity,

8. To extend knowledge of human beings, sociallife and environment

9. To establish generalization laws and contributeto theory building in various fields,

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Objectives, and Research study:Now lets relate the objective with different typesof researches:

1. To gain familiarity with a phenomena or toachieve new insights,

This study with a object which is termed asExploratory Research or Formulative Researchstudies.

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Objectives and Research study:

2. To portray accurately the characteristics ofan individual, situation or a group,

This study is termed as Descriptive ResearchStudies.

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Objectives and research study:

3. To determine the frequency with whichsomething occurs or with which it is associatedwith something else.

This study would be termed as DiagnosticResearch.

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Objectives and research study:

4. To test a hypothesis of a causal relationshipbetween the variables.

Such study are known as Hypothesis TestingResearch Studies.

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Characteristics of a Good Research:

Clearly defined purpose,

Objectivity,

Systematic,

Empirical,

Generalisability,

Replicability, (Repeat research again and again)

Adequate Analysis,

Finding presentated unambiguos,

High ethical standards

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Significance of research: Every research needto emphasize on the following:

Government Policies in a economic system,

Government's allocation of the natural resources,

Research need to collect, gather information on theeconomic and social structure of the nation, (Statisticaldata)

Research is helpful in the welfare and progress ofhumanity and the society.

In brief, Research should not be against the government, theorganization represented and of the society and it need toupdate the on-going progress of the nation and eradicate thewrong notions in the society.

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Purpose of Research:

There are various types of researches and now we shallgo ahead with comparative study of each two typesof researches:

Descriptive Vs Analytical Research.

Applied Vs Fundamental (Pure) Research,

Qualitative Vs Quantitative Research,

Conceptual Vs Empirical Research,

One Time Vs Longitudinal Research,

Field Setting Research Vs Laboratory Research,

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Purpose of Research:

Conceptual Vs Empirical Research,

One Time Vs Longitudinal Research,

Field Setting Research Vs Clinical or LaboratoryResearch,

Historical Research and so on

(Last Two not so important)

(TYPES OF RESEARCH MENTIONEDBELOW, HERE ONLY COMPARITIVE)

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Deseciptive Vs Analytical Research:

Descriptive Research would refer to surveysand fact finding enquiries from differentkinds, while,

Analytical Research on the other hand, wouldmean that the researcher has to use the factsor information already available and analyzethese to make a critical evaluation of a material.

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Applied Vs Fundamental Research:

Applied Research aims at finding a solution toan immediate problem facing a society orindustry/ organization, on the other hand,

Fundamental research is mainly concernedwith generalization and formulation of thetheory. Gathering information for the sake ofknowledge is also termed as FundamentalResearch.

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Quantitative Vs Qualitative Research:

Quantitative Research is based on QuantitativeMeasurement of some characteristics. It isexpressed in the terms of Quantities. While.

Qualitative Research is concerned with theQualitative Phenomena.

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Conceptual Vs Empirical Research:

Conceptual Research is related to someabstract or an idea or an theory. It is generallyused by Philosophers and Thinkers to developnew concepts or to interpret the existing ones,while,

Empirical Research relies on experiences orobservations alone, often without due regard forsystem and theory. It is also called as DataBased Research.

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One Time Research Vs Longitudinal Research:

One time Research is confined to one singletime period, while,

Longitudinal Research is the research which iscarried over several time period.

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What is Research Methods?:

Research Methods or Research Techniques are theMethods/ Techniques used by the researcher forconducting a Research. These can be grouped into three:

1. The First group are concerned with methods 'Collectionof Data, but is insufficient to arrive at the requiredsolution'.

2. The Second group consist of those 'statisticaltechniques which are used for establishing relationshipsbetween the data and the UNKNOWNs,

3. The Third group consist of those methods which are usedto evaluate the accuracy of the results obtained.

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What is Research Methods and ResearchTechniques?.

Research Methods would refer to the behaviorand instruments used in selecting andconstructing the research technique, while

Research Techniques would refer to thebehavior and instruments used in performingresearch operations, Ex: Observations,Recording data, or Techniques for processingthe data.

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Example 1 on Methods and Techniques:

For Library Research (Type 1), the 'Method isAnalysis of the historical records', while the'Technique is Recording of Notes, Contents,Tapes and Film Listening and Analysis'.

Again for Library Research (Type 2), the'Method is Analysis of Documents', while the'Technique is Statistical Compilation andManupulations, References and AbstractGuides and Content Analysis'.

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Example 2 on Methods and Techniques:

Field Works (Type 1), The Method can be'Personal Interview', while the 'Technique canbe Interviewer uses a detailed schedule withopen and closed ended questions'.

Field Work (Type 2), The Method can be'Group Interview' and the Technique used canbe that the small groups of respondents areinterviewed simultaneously.

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What is Research Methodology?

Research Methodology on the other hand, can besaid as a science of studying how research canbe scientifically.

Here in Research Methodology, the researcherneed to not only know the 'METHODS andTECHNIQUES' but also the METHODOLOGY,which means that the researcher may be knowingvarious Methods or Techniques, like Mean, Medianor Mode or Standard Deviations or Chi Square, butthey should also know which technique can beused and which are relevant.

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Conclusion on Research Methods andResearch Methodology:

'Research Methodology has variousdimensions, while Research Methods constitutea part of the Research Methodology.

The scope of Research Methodology is widerthan Research Methods.

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SOME TYPES OF RESEARCH:

Research are of various types for differentsituations, like, a) Descriptive Research, b)Exploratory Research, c) Applied Research, d)Fundamental Research, e) QuantitativeResearch, f) Qualitative Research, g)Conceptual Research, h) Empirical Research, i)Experimental Research, j) Historical Research.

(Explaination follows:)

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1. DESCRIPTIVE RESEARCH: a) Descriptive

Research is the simpliest form of Research, identifiesrelevant variables but does not aim at testinghypothesis and applies simple statistical techniques likeAverages and Percentages.

b) Descriptive Research provides accurate description ofobservations of a phenomena.

c) Descriptive Research is the fact finding investigation withaccurate investigation,

d) Descriptive Research is designed to gather descriptiveinformation (data) and provide information for formulatingsophisticated studies.

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2. EXPLORATORY RESEARCH: a) Exploratory

Research is the priliminary study of an unfamiliar problem,about which the researcher has little or no knowledge,

b) Exploratory Research objective is to identify the KeyIssues and Key Variables, by exploring certain unfamiliarproblem. Hence Exploratory Research is broad in focusbut rarely provides definite answer to specificresearch issues,

c) The purpose of Explotratory Research is to generate newideas, to increase the researcher's familiarity with theproblem, to make a precise formulation of the problem, todetermine whether it is feasible to attempt for the study.

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3. APPLIED RESEARCH: Applied Research is

designed to solve practical problems in the day-to-dayactivity, Applied Research is solving practical issues ratherthan to acquire knowledge, Applied Research is meant tosolve real life issues and make the social and businessenvironment better, Applied Research can be in largescale basis.

Applied Research is classified into 2:

a) Problem Oriented Research,

b) Problem Solving Research.

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4. FUNDAMENTAL RESEARCH OR PURERESEARCH: Fundamental Research or Pure Research

explains the how the world operates, what makes thingshappen, why social relations are in a certain way and whysociety changes.

Fundamental Research is concerned with the FundamentalKnowledge about the human world.

FUNDAMENTAL RESEARCH MAY BE EXPLORATORY, ORDESCRIPTIVE OR EXPLANATORY.

Fundamental Research generates new ideas, principles andtheories for modern progress and development in differentfields.

FUNDAMENTAL RESEARCH CAN ALSO SAID AS"GATHERING INFORMATIONS FOR KNOWLEDGE SAKE".

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5. QUANTITATIVE RESEARCH:

a) Quantitative Research is based on measurement ofquantity or amount.

b) Quantitative Research refers to the systematic empiricalinvestigation of quantitaive properties and phenomena andtheir relationships.

c) Quantitative Research is the study to provide thefundamental connection between empirical observationsand mathematical expression of quantitative relationships.

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6. QUALITATIVE RESEARCH:

a) Qualitative Research is the research concerned with thequalitative phenomena.

b) Qualitative Research, refers to explain the meaning,defination, characteristics, types and descriptions ofthings.

c) Qualitative Research is concerned with collectinginformations about individuals in depth like IndividualInterview in depth, or Group interviews.

d) Qualitative Research is important in the study ofbehavioural sciences.

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7. CONCEPTUAL RESEARCH:

a) Conceptual Research is used in research to outlinepossible courses of action or to present a preferredapproach to an IDEA or THOUGHT.

b) Conceptual Research involves investigation of thoughtand ideas and developing new ideas or interpretating theold ones based on logical reasonings.

c) Conceptual Research is related to some abstract, ideaor theory and is the preferred method in Social Sciencesand Philosophy, to reach or produce better results.

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8. EMPIRICAL RESEARCH:

a) Empirical Research is the research based on Experience/experiments and Observation.

b) Empirical Research is a data-based research.

c) Researchers where the study is not possible in alaboratory setting, they combine Qualitative andQuantitative forms of analysis for better solutions to theproblems,

d) Empirical Research requires evidence gathering throughexperiments or Empirical studies which is considered asone of the powerful support for a given hypothesis.

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9. EXPERIMENTAL RESEARCH:

a) Experimental Research is based/ designed onexperiments, to access the effects of particularvariables on a phenomena.

b) Experimental Research is the study on how, and at whatmanner the variables are related to each other. There is adependable, which are influenced by other factor while theindependent factors are the other factors which is not beeninfluenced.

c) In Experimental Research, the researcher manipulatesconditions for the purpose of determining their effect onbehavior. Hence the results depend on the 'Subject'.

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10. HISTORICAL RESEARCH: a) Historical

Research is the research where there is induction ofprinciples of the past and social forces which have shapedthe present.

b) It is the systematic studying the past records with an viewto reconstruct the origin and development of an institutionor system and discovering trends of the past,

c) The signifiance of Historical Research is to discover thepast, to get answers of certain unanswered questions, toidentify the relationship between the past and present, toevaluate the individual, institution, or an agency and toassist in understanding the culture in which we live.

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RESEARCH PROCESS:

1. Defining the research problem ,

2. Review of literature (Review concepts and Theories andReview previous research findings),

3. Formulation of Hypothesis,

4. Developing the research design (Including sample design),

5. Data Collection (Execution)

6. Data Analysis and Interpretation (Test Analysis, if any),

7. Research Reporting.

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1. Defining the Research Problem: Problemmay be any situation a gap between the actualand desired results. And defining a ResearchProblem shall include that the problem mustbe clear, precise and the 'investigated(Problem)' must have a gap of finding ananswer or solution.

The component in designing shall include:

1. The Research Problem must state thatIndividuals or a Group or Institutions mustbe facing some difficulty.

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Defining the Research Problem:

The component in designing shall include:

2. The Research Problem must have anobjective or objectives to be attained,

3. There must be alternative course of actionto attain the objectives,

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The Criteria for selecting the Research Problem can be in five steps:

1. Identify a broad problem area,

2. Literature Review,

3. Identifying the research question,

4. Refining the research question (Definedresearch question can be re-defined),

5. Developing investigative questions

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What is a research proposal?

"A research proposal is a manuscript written bythe researcher that provides a detaileddescription of the proposed program. Its theoutline of the entire research process that givesthe reader a summary of the informationdiscussed in a project".

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What are the elements in developing a researchproposal?

1. Title of the research,

2. Abstract, (Normally its in 250-300 words),

3. Introduction (Back ground information andpurpose),

4. Objective of the study (Need to be general andspecific),

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What are the elements in developing a researchproposal?

5. Variables (Identify the key variables and method ofmeasuements – There are 4 types of variablesnamely, a) Independent Variables, b) DependentVariables, c) Mixed Influence Variables and d) BasicVariables like Sex, Education and so on...

6. Questions and/ or Hypothesis and,

7. Methodology adopted,

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2. Review of Literature: Review of literature isthe 'Literature Survey', (the secondary sourcesof past literature), in the area of interest of theresearcher. It is to identify the document/articles relevant for the proposed study, Its toenable the researcher to develop the problemstatement in a precise and clear manner, Ithelps the researcher to identify the researchgap (Actuals and Desired Results), Its tomotivate/ stimulate the researcher to go aheadwith the study and so on....

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2. Review of Literature: This basically has threesteps:

1. Identifying the sources – Library or on-line sources likeEBSCO, Prowess, Google Scholar, Science Direct and soon, (Science Direct too has a number of articles in SocialScience Subjects),

2. Gathering relevant information – The Citing andReferences can help to further sources of information,

3. Presenting the Literature Review – The presentationneed to be clear, precise and in a logical manner by citingthe author, year of study, objective of the research, majorfindings and implications.

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3. Formulation of Hypothesis:

A hypothesis may be defined as a logically conjecturedrelationship between two or more variables, expressedin the form of a testable statement. Relationship isproposed by using a strong logical argumentation.This logical relationship may be put of theoreticalframework of the study.

"A hypothesis can be said as a tentative predictionor explanation of relationship between 2 or morevariables".

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Why is Hypothesis important in Reseach:

1. Hypothesis guide the direction of study,

2. Hypothesis identifies facts that are relevantand those that are not,

3. Hypothesis suggests which form of researchdesign is likely to be most appropriate,

4. Hypothesis provides a framework fororganizing the conclusions of the findings.

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What are the characteristics of a Hypothesis?

1. Hypothesis must be conceptual clear,

2. Hypothesis must have impirical referents (Can be testedby observations, experiments etc)

3. Hypothesis must be specific,

4. Hypothesis must be related to the available techniques ofresearch,

5. Hypothesis must be related to the body of the theory.

(Go through on, Hypothesis in the earlier slides too)

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What are the types of Hyposthsis:

A hypothesis can be a:

1. Descriptive Hypothesis: Also called UnivariateHypothesis – Describing in detail the variables, may be aIndividual, a Situation, Institution, Group or an Association,

2. Rational Hypothesis: Describes the relationship betweentwo variables,

3. Co-relational Hypothesis: Various variables occurtogether in similar or some specific manner,

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4. Explanatory or Causal Hypothesis: Implies the Causeand Effect of variables,

5. Null Hypothesis: (Denoted H0) Hypothesis formulated byresearcher for testing. Researcher treat evidence thatsupports differently from the evidence that opposes it.

Example: H0 = There is no relationship between the level ofjob commitment and the level of efficiency (or)

H0 = The relationship between the level of job commitmentand the level of efficiency is Zero.

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6. Alternative Hypothesis: The Alternative Hypothesis isthe alternative to Null Hypothesis, where there isrelationship between the variables of study.

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4. Developing the research Design:

A Research Design is the specification of themethods and procedures for acquiring theinformation needed to structure or to solveproblems.

A Research Design must be simple, economical,Reliable, Flexible, Accurate, Calculatable orMeasurable and Validity.

A Researcher must consider 4 factors, whichinclude:

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A Research Design will include, the researchershould consider:

1) The Design Technique,

2) The Type of Data,

3) The Sampling Methodology and Procedure,and

4) The Schedule and the Budget.

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Process of a Research Design: (9 Steps)

Step 1 – Selection and Definition of the problem,

Step 2 – Sources of Data,

Step 3 – Nature of Study (Scientific, SocialSciences, etc),

Step 4 – Object of Study (Objective (s) of thestudy)

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Process of a Research Design:

Step 5 – Socio-Cultural Context,

Step 6 – Temporal Context (Temporal means,matter related to ordinary and not religious orspritual issues),

Step 7 – Dimension,

Step 8 – Basis of Selection,

Step 9 – Techniques of Data Collection.

14MBA23 – Research Methods

Research Design Process (Also refer M1 – 9

steps in research design)

Step 1: Selection and Definition of the problem:

Step 2: Sources of Data:

Step 3: Nature of Study:

Step 4: Objective of Study:

Step 5: Socio and Cultural Context:

Step 6: Comporal Context:

Step 7: Dimension:

Step 8: Basis of selection:

Step 9: Technique of Data Collection:




Step 1: Selection and Definition of the problem:

The Researcher need to

1. Define the problem clearly, so to what is his objective,

2. Which data is relavance for his study,

3. The researcher need to define clearly on operational termstoo.




Step 2: Sources of Data:

Second step in Research Design Process is the

a. Primary Sources of Data Collection and/ or

b. Secondary sources of data collection, relavant for hisstudy.




Step 3: Nature of Study: This will include, whether it is

1. Experimental type of study,

2. Comparitive type of study, or

3. Statistical type of study.




Step 4: Objective of Study: The objective of the study canbe

a. Welfare notion or

b. Theoritical understanding or

The researcher can express the objective of his study toenable respondents to be sincere on the responses.




Step 5: Socio and Cultural Context:

The researcher can base the socio-cultural basis, Ex: Studyof the fertility rate in the economically backward areas.




Step 6: Comporal Context:

This refers that the research is specific to the population andthe area selected. (Geographical Limit and Applicable tospecific group)




Step 7: Dimension:

This refers to the specific selected respondent, who canprovide a valid answers. Dimension is important asresearch cannot be performed One by One and henceDimension is performed.




Step 8: Basis of selection: The selection of respondentscan be,

a. Random,

b. Stratified and Purposive,

c. Double clustered or quota sample

This is done for arriving at a valid sample size.




Step 9: Technique of Data Collection: Techniques can be

a. Observations,

b. Interview,

c. Questionnaire,

As it is collected/ gathered, it can be analyzed, interpreted.

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5. Data Collection: Data Collection or DataGathering begins with 'PILOT TESTING'.

What is a Pilot Testing?

A Pilot Testing is a small test comprising of 25 to 100respondents, before the final or actual test is to beexercised.

Example Questionnaire by email first 25 questionnaireare sent by mail and after this exercise, thequestionnaire need to be redesigned with redefinedquestions and procedures.

A Pilot test can be said as Pre Testing.

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5. Data Collection:

Data Collection can be done through PrimaryData or Direct Collection of Data personallyfrom the respondents and the other issecondary data, where the data is alreadyavailable, which can include in different forms.

Primary data can be done through various waysas stated below:,

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5. Data Collection:

Primary data can be done through various waysas stated below:,

1. By Personal Interview,

2. By Questionnaire Method,

3. By Observations,

4. By Telephonic Interviews,

5. By Group Focus Interviews,

6. By Emailing of Questionnaire and so on...

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6. Data Analysis and Interpretation:

"Convertion of Raw Data to provide Information"

This is the most important phase where varioustechniques is used (Statistical Tools/Techniques), Tables, Graphs and so on....

Presently various softwares are available in theInternet and the Market to convert the RawData into Information...

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7. Research Reporting:

There is three phases in a report:

1. Preliminary Pages,

2. Main Text,

3. Conclusive Pages.

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1. Preliminary Pages: The preliminary pagesinclude:

a) Title, Author's Name and Address,

b) Acknowledgement, Thanks,

c) Foreword (Foreword, is the introduction by theauthor or by someone else)

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2. Main Text: The main report consist of,

a) Introduction: Statement, Scope, Limitations.,

b) Summary of findings,

c) Main Report: Presented in logical sequence,

d) Conclusions: The researcher pens down his final sumof the research.

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3. Conclusive Pages.:

a) Appendices, (in respect to technical data,references for Important Contents with Page Nos)

b) Bibliography, (List of books, Journals etc,referred by the Author with completeinformation).

c) Charts/ Questionnaire and other Annexuresas desired by the researcher

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The End

Module 1

The contents are the basic information for the entire syllabus......

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ASSIGNMENT AND PRESENTATION 1

3 Groups of 18 Students each as per attendance order,scheduled for Thursdays only.

Preparing a questionnaire,

1. A Open Ended Questionnaire and

2. A Closed Ended Questionnaire, on the same topic.

Students are premitted to use devices/ books, forreferences....

TO BE PRESENTED AND SUBMITTED INDIVIDUALLYBY NEXT THURSDAY

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Team 1: Prepare a questionnaire on 'BrandAwareness' of any consumer product in RuralIndia. (Marketing Topic) (US No: 1 to 18)

Team 2: Prepare a questionnaire on'effectiveness of training in a Public SectorOrganization'. (HR Topic) (US No: 19 to 36)

Team 3: Prepare a questionnaire on 'InvestorsAttitude towards Mutual Funds in any financialinstitution. (Finance Topic) (US No: 37 to 57)

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Each Group Need to prepare 36 Questions,comprising of 18 open ended and 18 closedended questions, with 4 point scaling.

Each question is asked to the other groups, tocomplete the process of the questionnaire,

On completion of the 'question and answersession', every group need to 'Analyze andInterpret' the data collected, and finallypresent the data in the form ofPRESENTATION IN NEXT THURSDAYCLASS.

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Along with the questionnaire assignment, students need tosubmit answers for the following in your own words:

1. a. Importance of Research in Business Decisions, and inGovernment.

b. What are the features for good research study?

2. What means Continious Variables and Non ContiniousVariables, Endogeneous and Exogeneous Variables, &Extraneous Variables.

3. What are the difficulties faced by the researchers inPrimary and Secondary Sources of Data.

All 4 (Questionnaire + 3 Questions) comprise the 1st

Assignment and Presentation...