Res. method

RESEARCH METHODS IN MANAGEMENT

Course Contents: SECTION -I INTRODUCTION TO RESEARCH METHODS IN MANAGEMENT : 1. Meaning, Nature, Scope, Significance, uses and limitations. 2. Interaction between Management and Research.

3. Scientific Method and Research Process. 4. Problem formulation and statement of Research objectives. SECTION – II RESEARCH DESIGN & METHODS OF DATA COLLECTION : 1. Research Designs – Exploratory Res.

Descriptive Research, Experimental Research designs. 2. Basic Methods of Collection of Data; Observation and Survey Method. 3. Search of Secondary Data. 4. Questionnaire Design. 5. Attitude Measurement Techniques. 6. Administration of Surveys.

SECTION - III : SAMPLE DESIGN. 1. Sampling Concepts- Sampling - Different Methods of sampling. 2. Sample size decisions. SECTION - IV : DATA ANALYSIS. 1. Data processing- Editing, Coding, Classification, Tabulation, and Cross Tabulation.

2. Techniques of Data Analysis 3. Hypothesis Testing. 4. Tests of significance and analysis of associations. 5. Advanced Techniques for data analysis. SECTION - V :INTERPRETATION AND REPORT WRITING: 1. Meaning of Interpretation. 2. Significance of Report Writing.

3. Layout of the Research Report (contents or chapters) 4. Precautions for Writing Research Reports. 5. Research Applications In addition to above, there will be appropriate number of sessions for survey purpose.

REFERENCES: 1. Kothari C.R., Research Methodology, New Age International Publishers, New Delhi, 2009 edition. 2. Choudhary C.M., Research Methodology, RBSA Publishers, Jaipur. 3. Rajendra Nargundkar, “ Marketing Research – Texts and Cases”- Tata McGraw Hill Publishing Co. Ltd. 2002.

4. Aaker Kumar, Dey “Marketing Research” , Seventh Edition, John Wiley and Sons Inc. 5. Cooper Schindler – “Business Research Methods”, Sixth Edition, Tata McGraw Hill. 6. Boyd, Westfall, Stasch, “Marketing Research, Text and Cases” Seventh Edition , AITBS, New Delhi, 1996.

7. Luck-Rubin, “Marketing Research”, Sixth Edition, Prentice Hall of India, Tull & Hawkins, Fifth edition, Maxwell Machmillan International. 8. Richard I. Levin, David S. Rubin, “Statistics for Management”, Prentice Hall, India.

INTRODUCTION TO RESEARCH METHODS IN MANAGEMENT. 1. MEANING & DEFINITION OF RESEARCH. 2. NATURE OF RESEARCH. 3. USE OF RESEARCH. 4. LIMITATIONS IN RESEARCH.

MEANING OF RESEARCH: - Research in general refers to a search for knowledge. - Finding solution to a problem is a research. - Research is an Art of scientific investigation.

DEFINITIONS BY AUTHORS: 1. As per Webster’s Dictionary: “ A careful critical inquiry or examination in seeking facts for principles, careful investigation in order to ascertain something”.

2. As per Advanced Learner’s Dictionary of Current English:-- “ A careful investigation or inquiry specially through search for new facts in any branch of knowledge.”

3. As per Redmon and Mory: “ Systematized effort to gain new knowledge is known as research.”

Research always starts with a question or a problem. Its purpose is to find answers to questions through the application of the scientific method. It is a systematic and intensive study directed towards a more complete knowledge of the subject studied.

Research is based on some facts or on problems. For doing research collection of data and processing of data is done to know the results. The search for knowledge through objective and systematic method of finding solution to a problem is called Research.

Research can be classified into two broad categories: (1) Basic Research, and (2) Applied Research. Basic research is sometimes called ‘fundamental’ research or ‘theoretical’ research, or ‘pure’ research.

Applied Research, which is also called ‘decisional’ research, on the other hand, proceeds with a certain problem and it specifies alternative solutions and the possible outcomes of each alternative.

SALIENT FEATURES OF RESEARCH: (1) objective of Research: The objective or purpose of any research is to find out facts. On the basis of facts inferences (conclusions) are drawn. Ultimately the real situation is known through Research. (2) Reliability and Validity: Truth is the foundation of Research. This can be established on

the basis of facts and evidence. Evidence is based on sufficient and reliable data. The reliability and validity can be attained when the error of sampling is minimized. (3) Verification of Data:- Any conclusion drawn by a Researcher is subject to the quality of verification.

Verification pre-supposes the phenomenon of research being observed and measured. If a research is not based on observation and measurement, the verification of data will not be possible and inferences (or conclusions) or findings drawn from such studies will not serve the purpose.

(4). Accuracy:- In any type of research study, census or sampling methods are used. Researcher or Investigator should be well-versed with the techniques/methods used for collecting information or data. Complete accuracy can be attained when standard tools are used for collecting, recording and analyzing the

Information or data. (5) Impartiality: If the data are partial, it will lead to a wrong information with wrong result. Thus, a research should be impartial while collecting data. Partiality leads to wrong information and it fails to give fruitful results to the Investigator/Researcher.

(6) Scientific Approach: Traditional (old) culture of research was different as compared with today’s modern or scientific research. Today, scientific methods are used in research to attain reliable results or findings. (7) Recording and Reporting: Every term used in research should

Be well defined. Every procedure should also be described in detail. Any limiting factor should also be mentioned and taken into account. Various references used (i.e. Books, periodicals, journals, Articles, web-site etc.) in research should be carefully and systematically documented/recorded. Results of research should be properly recorded.

Conclusions and generalizations should be drawn with due care with the limitations of Methodology and data available for research. All these data can be used as a source of investigation for further research, in future.

TYPES OF RESEARCH: 1. Descriptive and Analytical Research 2. Applied and Fundamental Research 3. Qualitative & Quantitative Research 4. Conceptual and Empirical Research 5. Survey and Evaluation Research 6. Other types of Research.

DESCRIPTIVE vs. ANALYTICAL RESEARCH Descriptive Research includes Surveys and Fact-finding enquiries of different kinds. The purpose of DR is to know the present state of affiars as it exists at present. The main characteristic of this method is that the researcher has no control over the variables.

Researcher can report- what has happened or what is happening. Examples: (i) Frequency of shopping; (ii) Preferences of people. Method of Descriptive Research is Survey methods (all methods of surveys). - Survey may be for comparison of two items.

- Survey may be for correlation between two items. Example:- Age group of MBA students of Two Institutions. Age group of Male or Female students in one Institution. In Analytical Research, the researcher has to use facts or information which is already available with him and he has to analyze

those facts (or data) or information to make a critical evaluation of the material. Example: There are 60 students in PGDBM. Facts available is about their qualification i.e. B.Com./B.Sc./B.V.Sc,/B.A./B.E./B.Pharm. Researcher can analyze these data as under:-

Stream No. Ist IInd Percentage 1. B.Com. 30 25 5 50% 2. B,Sc. 23 20 3 39% 3. B.V.Sc. 2 1 1 3% 4. B. Pharm. 1 1 - 2% 5. B.E. 2 2 - 3% 6. B.A. 2 2 - 3% ---------------------------------------------------- 60 51 9 100 ----------------------------------------------------

2. APPLIED vs. FUNDAMENTAL RESEARCH Applied Research means action research. Fundamental Research means basic or pure research. Applied research aims at finding a solution for an immediate problem facing a society or an industries/business organization. Fundamental research is mainly concerned with generalizations or with formulation of a theory.

Collecting data for knowledge is pure research. Example: Going to Bharatpur at Ghana Bird’s Century. Observing and collecting data on different types of Birds, their size, Shape, colour, habits, nest, taking photo etc. is known as fundamental research. Differentiating between Local & migrated Birds.

Research concerning some natural phenomenon is known as fundamental research. Other examples can be: - (i) Human Behaviour - (ii) Human Habits - (iii) Human Psychology - (iv) Human Priorities.

Applied Research: Where research is connected with Economic, Social, Political ,Business problem and certain solution to the problem is done, it is known as Applied Research. The aim of applied research is to discover a solution for some pressing practical problem.

Examples: (i) Liking of people about a particular Newspaper - Rajasthan Patrika - Dainik Bhasker - Dainik Navjoyti - Navbharat Times (ii) Liking of Society about some consumer products : (i) Maggi – Nuddles

(ii) Shoe Company: Bata, Rebook, CSC, (iii) Motor Cycle : Suzuki, Rajdoot, Yezdi, Splender, Bullet etc. (iv) Ghee/Butter : Saras, Amul, Anik, Krishna, Mohan, etc. (v) Political Party : Congress, BJP, DMK, JD, Lok Dal, others.

Liking of consumer products may be : - About Quality, - Size, - Price/Cost - Taste/Flavour - Packaging - Comfort etc.

3. QUANTITATIVE vs. QUALITATIVE RESEARCH Quantitative Research is based on the number or measurement of quantity or amount. It can be expressed in terms of quantity say 10,20,50,100,1000 and so on. Qualitative Research is concerned with quality phenomenon. Research study relating to Quality or kind of Material is known as Qualitative Research.

Quality may indicate Desires, Motives, Opinion, or Attitude. QR also study the reasons for Human Behaviour and liking and dis-likings have reasons for it. Thus, QR is also known as Motivational Research.

How people feel or what they think about a particular subject or institution is also a qualitative research. Example: There are many Management Education Institutions and - What do you think about IRM - What do you compare about IRM with others. - How do you rate IRM with other Institutions.

People think about quality of the subject matter. It may be a product or may be an Institution. Here, the Behaviour of Consumer is reflected. So the Human Behivour is directly connected with quality of things. People have liking and disliking about a particular thing.

Due care is required to be taken in Qualitative Research. 4. CONCEPTUAL vs. EMPIRICAL RESEARCH: Conceptual research is based on some theory which is existing and is in practice. So whatever theory is existing – further research is done to know new concepts in it.

Re-interpretation on existing theory is made under Conceptual Research. Empirical Research is based on Experiments or observation or experiencing something. It is data-based research, with conclusions which are capable of being verified by observation or by experiments.

For Example: Concept & Theory says that Maruti 800 Car can run at a speed of 120 km/hour. By using the Car on experimental basis or test basis, the speed can be observed and verified or further improvement can be done by changing the mechanism or change in fuel combination.

5. OTHER TYPES OF RESEARCH: (a) Laboratory Research (For testing something. (b) Diagnostic Research (to know causes/investigating the reasons). (c) Historical Research (Documents, structure etc. or ideas of the past.

RESEARCH APPROACHES: There are different approaches or methods of doing research. There are Two Basic Approaches in Research: (A) Quantitative Approach. (B) Qualitative Approach (A) QUANTITATIVE APPROACH: (i) It involves generation of Data in quantitative form. Data can be analysed in various form.

(ii) Characteristics of data & their relationship of population is find out. (iii) Generally, in Quantitative Research – Survey is done & sample of population is studied. (iv) Literacy level, Average number of persons in a family are quantitative. (iv) Survey can be done through questionnaire/Observation method.

(B) QUALITATIVE APPROACH: Qualitative approach of Research is undertaken to know :- (a) Attitude of population (about use of some product); (b) Opinion of population (about any political party or group of people); (c) Behaviour of population (about some product/thing).

In all above approaches interview or depth interview of a focus-group (identified persons) is taken. SIGNIFICANCE OF RESEARCH: Significance means importance or usefulness of research. Why Research ? Or What is the use of Research?

The Answer is – Research is used to solve the problems in the Society/Business/Govt. Organization. By the use of Research operational problems of Business/Govt. is solved. Research helps in forming Economic Policy for both – Govt. and in Business.

Needs & Desires of the people are known through Survey and Research. Then, Govt. look at the availability of Resources/Revenues/Revenues to meet the needs of the people. NEEDS MAY BE : -Availability of Buses on a particular rout. -Availability of Food-grains for public.

- Need of Road, Water Supply by Govt. - Need of Market in the Colonies (HB). - Need of Dairy Booth for Milk Supply. - Need of School/College/ Tech.Edu.Ins. - Any other need of Public/Business. For all above needs, the Govt. sees the availability of things/funds. The cost of needs is assessed.

Probable income/revenue generation is looked into. Through Research, alternative policies can be decided that which activity/need will be fulfilled by whom i.e. by Govt. or by Private People or under Public-Private-Partnership (PPP). For Example: To run Roadways/Hospitals

Economic Activities are undertaken by Govt. on the basis of Surveys & decisions are taken by Govt. for Public interest. Like wise for Business activities, Govt. allows to business people to do an Economic Activity. For Example: (i) Procurement of Food-grain: -50% is done by Govt./Govt. Agencies & -50% is done by Private Business people

(ii) Construction of Houses: - 50% is done by Govt. Agencies; Housing Boards, HUDCO,UIT/JDA DRDA or Gram Panchyat etc. - 50% is done by Private Builders or Cooperative Societies. (iii) Educational Institutions: - Govt. & Private both are doing.

(iv) Generation of Electricity & Distribution to public: -Both Govt. and Private Sector is doing. - For other activities also the Govt. and Private sector is engaged in all types of Economic Activities for public. The needs are identified through Research i.e. survey method.

Research has its special significance in solving various operational and planning problems of Business and Industry. MARKET RESEARCH is done for:- - For Development of Market, - For Business Decisions, - For Policy Formulation for purchase, production and sales.

Social relationship and Problem include :- (a) Study of Child Care & Development especially in Rural or Backward areas. (b) Study of Mother & Child Care (especially for pregnant lady and infant). (c) Health Care and Nutritional Diet in Rural area. (d) Primary Education in Rural Area. (e) Livelihood generation activities

IMPORTANCE OF RESEARCH: 1. Research is important in solving operational problems of Govt. as well as that of Business Houses. 2. Research plays an important role in framing Economic Policy of the Country which may be related to :- - (a) Agricultural Production. - (b) Price Policy of Commidities.

-(c) Distribution of Essential Commodities -(d) Import-Export Policy. -(e) Industrial Policy. -(f) Economic Reforms through Privatization. -(g) Public and Private Participation Policy -(h) Employment Perspective (areas)

-(i) Poverty Reduction Programme. -(j) Taxation Policy. 3. Research gives basis to Govt. for taking decision for development of Big and small Industries, Farming Development, Size of Defence Services (increasing number of Soldiers etc.),or any important area of Development.

4. Market Research gives information to Business and Industry to take decisions for production & Sales i.e. Market Behaviour (about liking & disliking of Product). 5. Research provides information (various factors) related to Future Demand of a product in Business.

6. Business Research shows – Need of change in Budgting, affecting Profit & Loss based on Sales estimates. 7. Business Research gives information regarding forecasting of Sales of a product or services. 8. Research is important for Social Scientists in studying relationships & seeking answers to various Social

Problems. 9. Research is important for Ph.D. students or Research Scholars or students of Management. 10. Research is important for Philosophers, and thinkers for writing new ideas & insights for public. 11. Scientific Research is important for development of Nation all areas.

Thus, Research is the fountain of knowledge for the sake of knowledge to solve different business/Governmental and Social Problems. DIFFERENCE BETWEEN Research Methods (or techniques) and Research Methodology:

Res. method

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