2. What is research?
Management research is an unbiased,
structured, and sequential method of enquiry,
directed towards a clear implicit or explicit
business objective. This enquiry might lead to
validating existing postulates or arriving at
new theories and models.
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3. Types of research
BUSINESS RESEARCH
CONCLUSIVE RESEARCH
DESCRIPTIVE RESEARCH
APPLIED RESEARCHBASIC RESEARCH
EXPLORATORY
RESEARCH
CAUSAL RESEARCH
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4. Types of research
Basic research : the basic premise is the need
to KNOW and the concern is primarily academic
in nature.
Applied research: Solution or action oriented
research, that is contextual and practical in
approach.
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5. Types of research
Exploratory research is loosely structured and the
basic premise is to provide direction to subsequent,
more structured method of enquiry.
Conclusive research is structured and definite in
orientation. These studies are usually conducted to
validate formulated hypotheses and specified
relationships.
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6. Exploratory vs Conclusive Research
EXPLORATORY RESEARCH CONCLUSIVE RESEARCH
• Looselystructured in design
• Are flexible and investigative in
methodology
• Do not involve testing of hypotheses
• Findings might be topic specific and
might not have much relevance outside
theresearcher’s domain
• Well structured and systematic in
design
• Have a formal and definitive
methodology that needs to be followed
and tested
• Most conclusive researches are carried
out to test the formulated hypotheses
• Findings are significant as they have a
theoretical or appliedimplication.
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7. Conclusive research
Descriptive research: The main goal of this type
of research is to describe the data and
characteristics about what is being studied.
Causal research: Explores the effect of one or
more variables on other variable(s), with
reasonable level of certainty by controlling the
impact of other influencing variables.
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8. The research processManagement Dilemma
Basic vs Applied
Defining the Research Problem
Formulating the Research Hypothesis
Developing the Research Proposal
Data Collection
The Research Framework
Research Design
Data Collection Plan Sampling Plan
Instrument Design
Pilot Testing
Data Analysis & Interpretation
Research Reporting
Management / Research Decision
Data Refining and Preparation
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9. The research process
The management decision problem
Defining the research problem
Formulation of the working hypotheses
Construction of the research proposal
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10. The research process
Formulating the research design
Sampling considerations
Collecting the data for the study
Data analysis and interpretation of findings
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11. Research applications in marketing
Market & consumer analysis
Product research
Pricing research
Promotional research
Place research
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12. Research applications in finance
Asset pricing, capital markets and corporate finance
Financial derivatives and credit risk modeling research
Market-based accounting research
Auditing and accountability
Other areas: financial forecasting, behavioural finance,
volatility analysis
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13. Research applications in
human resources
Training & development studies
Selection and staffing studies
Performance appraisal–design and evaluation
Organization planning and development
Incentive and benefits studies
Emerging areas–critical factor analysis, employer
branding studies
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14. Research applications in
production & operations management
Operation planning and design
Demand forecasting and demand estimation
Process planning
Project management and maintenance effectiveness
studies
Logistics and supply chain-design and evaluation
Quality estimations and assurance studies
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15. Criteria for research
MUST have: a clearly stated research purpose/ objective
MUST have: a sequential plan of execution
MUST have: a logical and explicitly stated justification for
the selected methods
MUST have: an unbiased and neutral method of conduct
and reporting
MUST have: complete transparency and ethical conduction
of the research process
MUST have: provision for being reliable & replicable
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