business research methods 1 introduction

RESEARCH
Research is a scientific investigation. Investigation means a search for new facts and
ideas in any branch of knowledge. Thus, we can say that research is a search for
knowledge. Research may be considered as a movement, a movement from the
unknown to the known. It is actually a voyage of discovery.

PURPOSE
Research is carried out for two purposes;
• one is the discovery of new facts and
• the second, verification of the old ones

PURPOSE
• Common sense knowledge, based on the accumulated experiences, prejudices
and beliefs of the people is often contradictory and inconsistent. For example,
some common sense statements are: man is more intelligent than woman;
married men remain happier than single people; rural people are more
hardworking than urban people etc.
• On the other hand, scientific observations are based on verifiable evidence or
systematic body of proof that can be cited.. Contrary to this, the scientific
research or scientific inquiry finds that woman is as intelligent as man; there is no
association in happiness and marriage; hard work is not related to environment
alone

MEANING AND DEFINITIONS
• Research is an Organized and Systematic way of Finding answers to Questions.”
• Systematic because there is a definite set of procedures and steps which you will follow. There are
certain things in the research process that are always done in order to get the most accurate results.
• Organized in that there is a structure or method in going about doing research. It is a planned
procedure, not a spontaneous one. It is focused and limited to a specific scope.
• Finding answers is the end of all research. Whether it is the answer to a hypothesis or even a simple
question, research is successful when we find answers. Sometimes the answer is no, but it is still an
answer.
• Questions are central to research. If there is no question, then the answer is of no use. Research is
focused on relevant, useful, and important questions. Without a question, research has no focus, drive,
or purpose.
• The word research is derived from the Latin word meaning to know. It is a systematic and a replicable
process, which identifies and defines problems, within specified boundaries. It employs well-designed
method to collect the data and analyses the results. It disseminates the findings to contribute to
generalizeable knowledge.

MEANING AND DEFINITIONS
• Definitions: Various social and behavioural scientists have defined the word research in
different ways. Some of the most popular definitions are:
• 1. “Endeavour to discover facts by scientific study, course of critical investigation”, by
Pocket Oxford Dictionary.
• 2. “Systematic investigation to establish facts or collect information on the subject”, by
Collins Concise Dictionary.
• 3. “Research is systematized effort to gain new knowledge”, by Redman and Mory.
• 4. “Research is the manipulation of things, concepts or symbols for the purpose of
generalizing to extend, correct or verify knowledge, whether that knowledge aids in
construction of theory or in the practice of an art”, by Encyclopedia of Social Sciences.

CHARACTERISTICS OF RESEARCH
• A well-organized research must possess certain characteristics features, which are as follows:
• 1. Solution Oriented: The problem of research must be clearly defined and stated. The motive of
research must be mentioned in the beginning of research work. The research should provide a
solution of a business problem.
• 2. Logical: In a research we find out facts about a phenomenon and draw conclusions about it.
The inferences and generalizations thus made must be logical. For example, all illiterate people in
the village live longer than the educated people in the cities leads to the conclusions that
illiteracy is the cause of longevity. This is an example of illogical research conclusion.
• 3. Objective: Observing true picture of a phenomenon without being affected by observers own
opinion is termed as ‘objective’. Objectivity means knowing reality.
• 4. Impartiality: A dishonest research may select data items of individuals to draw conclusions to
his favour.

CHARACTERISTICS OF RESEARCH
• 5. Accuracy: A research worker needs to gain some expertise in the study he is undertaking. This
expertise results in achieving the accuracy in the solution drawn. The accuracy of conclusions is a
sensitive issue as it may affect the whole decision-making.
• 6. Systematic: In a research there should be well-defined steps. Each step should be sequentially
linked with another, so that, the whole research work is an organized structure.
• 7. Verifiability: the results of a research are subjective to verifications. For building a sound basis
for decision making one verifies the research results by replicating the study.
• 8. Empirical: A research is an empirical process and involves data collection. The results are based
on observed experience or empirical evidence. Research rejects assumptions and dogma as
methods of established knowledge. It accepts only what is verified by empirical observations.

ROLE AND SIGNIFICANCE OF RESEARCH
• A research study plays a very vital role in studying, understanding and solving a
business problem.
• Research is a process of obtaining dependable solutions through systematic and
scientific investigations. In the modern business environment where operational
problems are of complex nature, research provides a solution oriented carefully
designed procedures.
• Research helps us to discover the functional relationships among various
phenomena that exist in a business or a government organization.

OBJECTIVES OF RESEARCH
• 1. Understanding a business problem
• 2. Identifying the cause and effect relationship
• 3. To innovate new ideas
• 4. To improve the Quality

.6 TYPES OF RESEARCH
• Descriptive v/s Analytical research
• Descriptive research basically describes what is. It mainly involves collection, recording,
describing and analyzing the facts related to the study. It tries to find the existing status, trend
and state of affairs in a phenomenon. Descriptive research involves surveys, but they are not
merely data collection as they also involve measurement, classification, analysis, comparison and
interpretation. In this type of research the variable under study are uncontrollable. One can only
observe and report what is happening in a situation
• . Analytical research, on the other hand deals with what will be. In this type of research, the
variables involved are carefully and scientifically controlled and manipulated. Analytical research
is also known as experimental research and is a very sophisticated technique. This kind of
research is based on four important characteristics namely; control, manipulation, observation
and replication.

TYPES OF RESEARCH
• Applied v/s Fundamental research
• Applied research is action oriented or solution oriented. The main goal of an applied research is to
obtain an immediate, specific and practical solution of a problem that a business organization is facing
right now. It gives here and now solutions in actual problem situations. It involves scientific
investigations but the methods are not so rigorous as in fundamental research. It finds solutions to be
applied in local environment and they may not be universally acceptable. Applied research does not
promise to add new knowledge to the discipline.
• Fundamental research is carried out to scientifically enhance the organized body of knowledge of a
discipline. Also know as basic research, it is concerned with formulation of theory and generalizations
of principles. To evaluate and expand a formulated theory it may use empirical data. Basic research
involves systematic, highly sophisticated scientific techniques. Fundamental research may not suggest
the solutions of immediate problems, it rather draws long term conclusions.

TYPES OF RESEARCH
• Conceptual v/s Empirical research
• Conceptual research involves the development of new theories, abstract ideas, and
generalized principles. Philosophers, intellectuals and thinkers carry out this kind of
research. On the basis of their conceptual knowledge they build theoretical models.
Conceptual research is an intellectual process to develop and verify knowledge.
• Empirical research is based on observation and experimentation. The information
collected in the form of facts develops the conclusions and theories about a
phenomenon. The models, so developed, can again be verified by a replication of
data collection. To test a given hypothesis empirical research is most popular and
powerful tool in the modern world.

RESEARCH PROCESS
• 1. Problem formulation
• 2. Literature survey
• 3. Development of hypothesis
• 4. Research design
• 5. Choice of sample design
• 6. Data collection
• 7. Analysis and interpretation of data
• 8. Hypothesis testing
• 9. Interpretation of results
• 10. Report writing

PROBLEMS ENCOUNTERED BY RESEARCHERS
• 1. Lack of skilled researchers
• 2. Lack of code of conduct
• 3. Insufficient interaction
• 4. Overlapping research studies
• 5. Lack of confidence
• 6. Lack of funds and facilities
• 7. Lack of literature

TYPES OF RESEARCH
• Quantitative v/s Qualitative research
• Quantitative research is based on quantitative variables, which can be measured in
appropriate units. These involve objects and individuals that vary in size, quantity,
amount, scale or degree. For example, prices of commodity can be measured in
rupees, weight of a product is measured in kilograms and the mileage of vehicle is
measured in kilometers per liter.
• Qualitative research, on the other hand, is based on qualitative variables, which vary in
quality of type. These variables cannot be measured on a scale or in any units. Social
scientists use qualitative research for studying human behaviour. In market research
surveys qualitative research is carried out to investigate the likes and dislikes of
customers. It helps in understanding the current pattern of demand of a company’s
products.

RESEARCH PROBLEM
• A research problem is a specific statement in the general area of investigation. It is a precise
identification of a problem situation in a certain context involving what, why, who, where and
when of the problem area.
• Who– means the person or business organization that is facing a problem.
• Why– means that there is a purpose, goal aim or objective to solve this problem.
• How– means the options of actions one can take to solve the problem.
• When–means the time frame in which the problem is to be solved.
• Where–means the environment in which the problem exists.
• What– means the optimum action that is to be taken in solving the problem to attain the best
results.

2 SELECTING A RESEARCH PROBLEM
• The old saying goes, “Necessity is the mother of invention”.
• A research study is another form of invention. Thus, if there is some necessity or a
difficulty a business organization is facing, it forms a research problem that is to
be investigated in order to fulfill that necessity or remove that difficulty.

2 SELECTING A RESEARCH PROBLEM
• 1. Sources of problems
• 2. Potential to be a research problem
• 3. Select non-controversial issues
• 4. Researcher’s interest and competency
• 5. Resources available
(a) Time
(b) Funds
(c) Size of research
(d) Co-operation of others
(e) Literature and Material
(f) Obtainable data

DEFINING A RESEARCH PROBLEM
• By defining a research problem we mean a systematic way of asking and
answering research questions.
• Meaningful, productive and useful research depends on the development of
appropriate research questions, the identification of appropriate constructs and
confidence we can have in our findings.
• There are two main steps in defining a research problem:
• 1. Formulation of the problem
• 2. Establishment of research objectives

“RESEARCH DESIGN
• “Research design is the planned sequence of the entire process involved in
conducting a research study

FEATURES OF A GOOD RESEARCH DESIGN
• 1. Freedom from bias
• 2. Freedom from confusing
• 3. Control of extraneous variables
• 4. Statistical precision for testing hypothesis
• 5. With in resources
• 6. Optimality
• 7. Objectivity
• 8. Flexibility

DIFFERENT RESEARCH DESIGN
• 1. Exploratory
• 2. Descriptive or diagnostic research design
• 3. Causal or Hypothesis testing or Experimental research design

business research methods 1 introduction

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