Businessresearchmethods

Research refers a scientific and systematic search for pertinent information on
a specific topic.
According to the advanced learners dictionary of current English “Research a
careful investigation or enquiry. Especially through search for new facts in any
branch of knowledge.”
According to Redman and Mory, “Research is a systemized effort to gain new
knowledge.”
According to Clifford Woody research comprises defining and redefining
problems, formulating hypothesis or suggested solutions; collecting, organizing
and evaluating data; making deductions and reaching conclusions; and at last
carefully testing the conclusions to determine whether they fit the formulating
hypothesis.
In brief 'research' refers to the systematic method consisting of enunciating the
problem, formulating a hypothesis, collecting the facts or data, analyzing the
facts and reaching certain conclusions either in the form of solutions(s)
towards concerned problem or in certain generalizations for some theoretical
formulation.
Meaning of Research

Objectives of Research
 To gain familiarity with a phenomenon or to
achieve new insights into it.
 To portray accurately the characteristics of a
particular individual, situation or a group.
 To determine the frequency with which
something occurs or with which it is associated
with something else.
 To test a hypothesis of a causal relationship
between variables (such studies are known as
hypothesis-testing research studies).

Motivation of Research
• Desire to get research degree along with
its consequential benefit.
• Desire to face the challenge in solving
unsolved problem.
• Desire to get intellectual joy of doing some
creative work.
• Desire to be of service to society.
• Desire to get respectability.

Types of Research
(i) Descriptive vs. Analytical
(ii) Applied vs. Fundamental
(iii) Quantitative vs. Qualitative
(iv) Conceptual vs. Empirical

Significance of Research
• Research inculcates scientific and inductive
thinking and it promotes the development of
logical habits of thinking and organization.
• Research provides the basis for nearly all
government policies in our economic system.
• Research has its special significance in solving
various operational and planning problems of
business and industry.
  Research is equally important for social
scientists in studying social relationships and in
seeking answers to various social problems.

Importance of Knowing How Research is done
(i) The knowledge of methodology provides good training
especially to the new research worker and enables him to do
better research. It helps him to develop disciplined thinking or
a 'bent of mind' to observe the field objectively.
(ii) Knowledge of how to do research will inculcate the ability to
evaluate and use research results with reasonable
confidence.
(iii) When one knows how research is done, then one may have
the satisfaction of acquiring a new intellectual tool which can
become a way of looking at the world and of judging every
day experience. According, it enables use to make intelligent
decisions concerning problems.
(iv) The knowledge of methodology helps the consumer of
research results evaluate them and enables him to take
rational decisions.

Research ProcessRESEARCH PROCESS IN FLOW CHART
Where = feed back (Helps in controlling the sub-system to which it is transmitted)
= feed forward (Serves the vital function of providing criteria for evaluation)
Define
research
problem
Review concepts
and theories
Review previous
research finding
Formulate
hypothesis
Design research
(including
sample design
Collect data
(Execution)
Analyze data
(Test hypotheses
if any)
Interpret
and report
FF
F
F F
FF
i
ii
iii iv v vi vii
F
FF

Steps of the Research Process
• 1. Formulating the research problem
• 2. Extensive literature survey
• 3. Development of working hypotheses
• 4. Preparing the research design
• 5. Determining sample design
• 6. Collecting of data
• 7. Execution of the project
• 8. Analysis of data
• 9. Hypothesis-testing
• 10. Generalization and interpretation
• 11. Preparation of the report or the thesis

Criteria of Good Research
• The purpose of the research should be clearly defined and common
concepts be used.
• The research procedure used should be described in sufficient detail to
permit another researcher to repeat the research for further
advancement, keeping the continuity of what has already been attained.
• The procedural design of the research should be carefully planned to
yield results that are as objective as possible.
• The researcher should report with complete frankness, flaws in
procedural design and estimate their effects upon the findings.
• The analysis of data should be sufficiently adequate to reveal its
significance and the methods of analysis used should be appropriate.
The validity and reliability of the data should be cleared carefully.
• Conclusions should be confined to those justified by the data of the
research and limited to those for which the data provide an adequate
basis.
• Greater confidence in research is warranted if the researcher is
experienced, has a good reputation in research and is a person of
integrity.

DEFINING THE RESEARCH
PROBLEM
Chapter-2

What is a Research Problem?
A research problem, in general, refers to some
difficulty which a researcher experiences in the
context of either a theoretical or practical
situation and wants to obtain a solution for the
same.
Thus, a research problem is one which requires a
researcher to find out the best solution for the
given problem, i.e., to fine out by which course
of action the objective can be attained optimally
in the context of a given environment.

Components of Research problem
• There must be an individual or a group which
has some problems.
• There must be some objectives to be attained
at.
• There must be alternative means of obtaining
these objectives.
• There must be some doubt in mind in selecting
an alternative means.
• There must be an environment to which these
problems pertain.

Technique Involved in Defining a Problem
• Statement of the problem in a general way.
(a) Initially a tentative Statement of the problem is made for
Searching.
(b) This tentative Statement will be finalize later on.
• Understanding the nature of the problem
a) A researcher has to Understand the nature of the problem
b) He has to understand the volume of work
c) He has to understand the requirement of fund
d) He has to understand the requirement of expert
e) He has to understand the requirement of time.
• Surveying the available literature
(a) On the basis of tentative Statement of the problem a researcher has
to review the related literature
• Developing the ideas through discussions
• Rephrasing the research problem

Meaning of Research Design
"A research design is the arrangement of
conditions for collection and analysis of
data in a manner that aims to combine
relevance to the research purpose with
economy in procedure." More explicitly,
the design decisions happen to be in
respect of:

Research Design satisfy the following questions
(i) What is the study about?
(ii) Why is the study being made?
(iii) Where will the study be carried out?
(iv) What type of data is required?
(v) Where can the required data be found?
(vi) What periods of time will the study include?
(vii) What will be the sample design?
(viii) What techniques of data collection will be used?
(ix) How will the data be analyzed?
(x) In what style will the report be prepared?

Features of a Good Design
A good design is often characterized by adjectives like flexible,
appropriate, efficient, economical and so on. Generally, the design
which minimizes bias and maximizes the reliability of the data
collected and analyzed is considered a good design.
• Flexible: It is a design which can be modified at any time.
• Appropriate
– The means of obtaining information;
– The availability and skills of the researcher and his staff, if any;
– The objective of the problem to be studied;
– The nature of the problem to be studied; and
– The availability of time and money for the research work.
• Efficient: A design which serves the purpose of the objectives
properly.
• Economical: It is a design which can fulfill the objectives of the
research within limited time and fund.

Important Concepts Relating to Research Design
1. Dependent and independent variables: If one variable depends upon or is a
consequence of the other variable, it is termed as a dependent variable, and
the variable that is antecedent to the dependent variable is termed as an
independent variable.
2. Extraneous variable: Independent variables that are not related to the
purpose of the study, but may affect the dependent variable are termed as
extraneous variables.
3. Control: The technical term 'control' is used when we design the study
minimizing the effects of extraneous independent variables.
4. Confounded relationship
5. Research hypothesis
6. Experimental and non-experimental hypothesis-testing research
7. Experimental and control groups
8. Treatments
9. Experiment
10.Experimental unit(s)

Different Research Design
1. Research design in case of exploratory research studies: The main purpose
of such studies is that of formulating a problem for more precise
investigation or of developing the working hypotheses from an operational
point of view. The major emphasis in such studies is on the discovery of
ideas and insights.
2. Research design in case of descriptive and diagnostic research studies: The
design in such studies must be rigid and not flexible and must focus
attention on the following:
(a) Formulating the objective of the study
(b) Designing the methods of data collection
(c) Selecting the sample
(d) Collecting the data
(e) Processing and analyzing the data
(f) Reporting the findings
3. Research design in case of hypothesis-testing research studies: Hypothesis-
testing research studies (generally known as experimental studies) are
those where the researcher tests the hypotheses of causal relationships
between variables.

Basic Principles of Experimental Design
(1) The Principle of Replication:
Repetition of treatment to remove random
error.
(2) The Principle of Randomization: To
remove the biasness of the experimenter.
(3) Principle of Local Control: To maintain
the homogeneity of the experimental plots.

Important Experimental Designs
(a) Informal experimental designs:
(i) Before-and-after without control design
(ii) After only with control design
(iii) Before-and-after with control design
(b) Formal experimental designs:
(i) Completely randomized design (C.R. Design)
(ii) Randomized block design (R.B. Design)
(iii) Latin square design (L.S. Design)
(iv) Factorial designs.

Sampling Design
Sampling Design: At the time of taking decision about the
population characteristics representative part of the
population is undertaken. The process of undertaking
the representative part of the population is called
sampling design.
Census: It is a complete enumeration of all the items of the
population.
Sampling: It is a survey of representative part of the
population.

Concepts used in Sample Design
While developing sampling design, the
researcher must pay attention to the
following points:
(i) Type of Universe (population)
(ii) Sampling unit
(iii) Source list
(iv) Size of sample
(v) Parameters of interest
(vi) Budgetary constraint
(vii) Sampling procedure

Characteristics of a Good Sample Design
We can list down the characteristics of a good
sample design as under:
• Sample design must result in a truly representative sample.
• Sample design must be such which results in small
sampling error.
• Sample design must be viable in the context of funds
available for the research study.
• Sample design must be such so that systematic bias can be
controlled in a better way.
• Sample should be such that the results of the sample study
can be applied, in general, for the universe with a
reasonable level of confidence.

Different Types of Sample Designs
Non-probability sampling: Non-probability
sampling is that sampling procedure which does
not afford any basis for estimating the probability
that each item in the population has of being
included in the sample.
Probability sampling: Probability sampling is also
known as 'random sampling' or 'chance
sampling'. Under this sampling design, every
item of the universe has an equal chance of
inclusion in the sample.

Different Types of Sample Designs
(cont.)
Two Types of sampling Design:
i) Probability sampling Design
ii) Purposive sampling Design
The probability sampling are of two types
(i) Simple Random Sampling
(ii) Complex Random Sampling
Complex Random Sampling are of seven types
(i) Systematic sampling
(ii) Stratified sampling
(iii) Cluster sampling
(iv) Area sampling
(v) Multi-stage sampling
(vi) Sampling with probability proportional to size
(vii) Sequential sampling

Chapter-6
Methods of Data Collection

Types of Data
There are two types of data:
(i) Primary Data
The primary data are those which are collected afresh and for the first
time, and thus happened to be original in character.
(i) Secondary Data
The secondary data are those which have already been collected by
someone else and which have already been passed through the
statistical process.

Method of Collection of Primary Data
There are four methods of collection of
primary data:
(i) Observation Method
(ii) Interview Method
(iii) Questionnaire Method
(iv) Schedule Method

Observation Method
• It is an attempt to observe a person or a
phenomenon minutely and report it to the
proper authority.
• It is a laborious and time consuming
method.

Interview Method
• It is a conversation between an interviewer
and an interviewee.
• It is a face to face question answering.
• It will also include the telephonic question
answering.
• It is quick method and an interviewer can
interview several persons in a day
depending on the size questions

Questionnaire Method
• Keeping in view of the objectives of a research a
series of questions are drafted
• Final questionnaire is prepared after pre- testing
it.
• Questionnaires are sent to the interviewee with a
request letter describing its importance and
confidentiality.
• A stamped envelop is also sent for return mail.
• An interviewee will fill the questionnaire up and
send it to the office of the project director in time.

Schedule Method
• It is a combination interview and questionnaire method.
• Initially a questionnaire is prepared with pre-testing it.
• Interviewer will visit the interviewee with the
questionnaire in his leisure time.
• Interviewer will form proper rapport with the interviewee
and will exchange greetings according to the cultural
practice and convince him to the necessity of providing
information of the questionnaire..
• He will also hand over the questionnaire to the
interviewee and request him to give appointment in his
leisure time.
• The interviewer will attend the interviewee in his
scheduled time and will fill up the questionnaire.

Sources of Secondary Data
There are seven sources of secondary data:
(i) Various publications of local and central government
(ii) Various publications of foreign government or
international bodies
(iii) Technical and trade journal
(iv) Books, magazine and news papers
(v) Reports and publications of various association
connected with business and industry, bank, stock
exchange etc.
(vi) Reports prepared by research scholars, universities,
economist etc.
(vii) Public report and statistics, historical documents and
other published documents.

Guidelines for Constructing Questionnaire/Schedule
1. The researcher must keep in view the problem he is to study for it provides the
starting point for developing the Questionnaire/Schedule. He must be clear about
the various aspects of his research problem to be dealt with in the course of his
research project.
2. Appropriate form of questions depends on the nature of information sought, the
sampled respondents and the kind of analysis intended. The researcher must
decide whether to use closed or open-ended question. Questions should be
simple and must be constructed with a view to their forming a logical part of a well
thought out tabulation plan. The units of enumeration should also be defined
precisely so that they can ensure accurate and full information.
3. Rough draft of the Questionnaire/Schedule be prepared, giving due thought to the
appropriate sequence of putting questions. Questionnaires or schedules previously
drafted (if available) may as well be looked into at this stage.
4. Researcher must invariably re-examine, and in case of need may revise the rough
draft for a better one. Technical defects must be minutely scrutinized and
removed.
5. Pilot study should be undertaken for pre-testing the questionnaire. The
questionnaire may be edited in the light of the results of the pilot study.
6. Questionnaire must contain simple but straight forward directions for the
respondents so that they may not feel any difficulty in answering the questions.

Guideline for Successful Interviewing
1. Interviewer must plan in advance and should fully know the problem under
consideration. He must choose a suitable time and place so that the interviewee
may be at ease during the interview period. For this purpose some knowledge of
the daily routine of the interviewee is essential.
2. Interviewer’s approach must be friendly and informal. Initially friendly greetings in
accordance with the cultural pattern of the interviewee should be exchanged and
then the purpose of the interview should be explained.
3. All possible effort should be made to establish proper rapport with the interviewee;
people are motivated to communicate when the atmosphere is favorable.
4. Interviewer must know that ability to listen with understanding, respect and
curiosity is the gateway to communication, and hence must act accordingly during
the interview. For all this, the interviewer must be intelligent and must be a man
with self-restraint and self-discipline.
5. To the extent possible there should be a free-flowing interview and the questions
must be well phrased in order to have full cooperation of the interviewee. But the
interviewer must control the course of the interview in accordance with the
objective of the study.
6. In case of big enquiries, where the task of collecting information is to be
accomplished by several interviewers, there should be an interview guide to be
observed by all so as to ensure reasonable uniformity in respect of all salient
points in the study.

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